ASX Small Cap Lunch Wrap: Who’s not getting their story straight this morning?

Turning first to the suburban outskirts of Lexington in the US state of Kentucky, where police responded to a car flip outside the local Wendy’s hamburger joint.

Police arrived at the scene, and reports indicate they got conflicting accounts.

The driver of the car said they’d been kidnapped by the passenger.

Conversely, the passenger said they’d been kidnapped by the driver.

Perhaps not surprisingly, the investigation remains ongoing. Although the car’s passenger was alleged to have briefly exited stage-left to hide two hand guns under a bush.

‘Murica.

Turning next to ASX markets, and January’s market leader — the resources sector — got back on the horse this morning as mining stocks dragged the local index higher.

Large gold stocks bounced back from yesterday’s falls, while the iron ore majors all gained +2% in morning trade.

In fact, most sectors gained except for consumer staples (the big grocery chains) and the ASX 200 IT index.

Gains in the banking sector were led by Macquarie (ASX:MQG), which climbed back above $200 a share following an operational business update.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for February 8 [intraday]:

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

The oil bull market is in play, with Brent crude prices trading above US$92/barrel in Asia today — part of a broader upward shift towards US$100.

In that environment, money flowed into some junior oil & gas players as Sagalio Energy (ASX:SAN) and Lakes Blue Energy (ASX:LKO) both ripped higher by ~50% on no news.

Among resources stocks with news, WA1 Resources (ASX:WA1) made a stellar debut, after raising $6m at 20c in its IPO.

WA1 is a spinout of private project generator Tali Resources, and hit the market with three WA exploration projects — the flagship ‘West Arunta’ plus ‘Madura’ (IOCG) and ‘Hidden Valley’ (nickel, copper, PGEs).

Elsewhere, medical cannabis company AusCann Group Holdings (ASX:AC8) rose strongly, after getting feedback from the US FDA which gives AC8 clarity on an approval pathway for CPAT-01 — its cannabinoid-based veterinary medicine for the control of pain and inflammation in dogs with osteoarthritis.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for February 8 [intraday]:

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