ASX Small Cap Lunch Wrap: Who's getting an extension today?

It was a case of mo’ COVID, no problems for the local market this morning as the ASX200 rose by more than 1 per cent.

The gains followed a strong session on Wall Street overnight as capital flowed back into the US tech heavyweights.

Rumours of a vaccine breakthrough by researchers at the UK’s Oxford University lingered throughout the overnight session, but no big news came to light.

The big news domestically this morning was from the Morrison government, which announced that JobKeeper and JobSeeker payments will be extended for another six months to March 2021.

The cash payments for JobKeeper are expected to be two-tiered at reduced levels, with the $1,500 amount reduced to $1,200 along with a $750 payment for part-time workers.

Businesses applying for the extended JobKeeper scheme will have to undergo another eligibility test to prove loss of revenue.

The improved risk appetite across asset classes saw the Aussie dollar climb back above US70c, while gold remains supported above $US1,800 ($2,586) an ounce.

WINNERS

Here are the best performing ASX small cap stocks at 12pm AEST on Tuesday July 21:

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CODE	COMPANY	PRICE	CHANGE	MARKET CAP
IMC	Immuron	0.48	95.92%	$43.7M
GPX	Graphex Mining	0.076	94.87%	$4.5M
9SP	9 Spokes Intl	0.047	62.07%	$57.1M
FGO	Flamingo	0.002	50.00%	$1.1M
CZL	Consolidated Zinc	0.004	33.33%	$10.0M
OAR	Oakdale Resources Ltd	0.004	33.33%	$4.2M
PM1	Pure Minerals	0.017	30.77%	$10.7M
TKL	Traka Resources Ltd	0.011	22.22%	$4.4M
RMX	Red Mountain Mining	0.006	20.00%	$6.1M
PTX	Prescient Therapeutics Ltd	0.069	18.97%	$27.2M
PAL	Palla Pharma	1.05	17.98%	$123.3M
AMD	Arrow Minerals	0.01	17.65%	$12.0M
SHH	Shree Minerals	0.01	16.67%	$4.3M
PNR	Pantoro	0.265	15.22%	$311.9M
AQI	Alicanto Minerals Ltd	0.07	14.75%	$17.7M
POW	Protean Energy	0.008	14.29%	$2.5M
NAE	New Age Exploration Ltd	0.008	14.29%	$7.1M
EM2	Eagle Mountain Mining	0.16	14.29%	$18.5M
ASP	Aspermont	0.008	14.29%	$18.2M
MEY	Marenica Energy Ltd	0.072	14.29%	$10.0M

After being in a trading halt since March, Graphex Mining (ASX:GPX) returned to the ASX boards with a bang, announcing a $2.3m capital raise to finance the acquisition of two gold projects in the West African country of Mali.

The company has ditched its Tanzanian graphite project and will soon rebadge itself as Marvel Gold. Shares in GPX doubled in morning trade to 8c.

Biotech stock Immuron (ASX:IMC) also ripped higher after announcing one of its drug products — IMM-124E — used in the treatment of diarrhoea, could also help in the fight against COVID-19.

And B2B tech platform 9 Spokes (ASX:9SP) was among the leaders after coming out of a three-week trading halt to announce a five-year distribution partnership with global payments giant Visa.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm AEST on Tuesday July 21:

Swipe or scroll to reveal the full table. Click headings to sort.

CODE	COMPANY	PRICE	CHANGE	MARKET CAP
EYE	Nova Eye Medical	0.38	-50.32%	$54.6M
PSL	Paterson Resources	0.002	-42.86%	$7.7M
QFY	Quantify Technology	0.001	-33.33%	$2.0M
KAS	Kasbah Resources	0.009	-25.00%	$1.4M
GTG	Genetic Technologies	0.009	-25.00%	$67.6M
OLV	Otherlevels Holdings Ltd	0.004	-20.00%	$2.3M
WML	Woomera Mining	0.013	-18.75%	$3.3M
SBW	Shekel Brainweigh	0.12	-17.24%	$20.2M
RDN	Raiden Resources	0.006	-14.29%	$3.0M
LIT	Lithium Australia NL	0.006	-14.29%	$29.8M
RIM	Rimfire Pacific Mining NL	0.006	-14.29%	$9.5M
AO1	Assetowl	0.006	-14.29%	$2.9M
RLE	Real Energy Corporation Ltd	0.02	-13.04%	$7.1M
GO2	GO2 People	0.04	-14.00%	$6.1M
WLD	Wellard Ltd	0.045	-11.76%	$23.9M
KP2	Kore Potash DRC	0.015	-11.76%	$26.5M
ESH	Esports Mogul Asia Pacific Ltd	0.004	-10.00%	$10.2M
NTI	Neurotech Intl	0.009	-10.00%	$2.2M