Half-time ASX small cap wrap: who’s scored so far and who’s fouled
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The Small Ords index continued to edge up this morning — it’s regained all its lost ground since the mid-February market correction, sitting around 2766 by 12.30pm AEDT.
Here’s a list of the key ASX small cap gainers and losers at lunchtime Tuesday:
In the green
Auris Minerals (ASX:AUR) today announced a $1.2 million farm-in deal with Sandfire Resources (ASX:SFR) at its Morck’s Well East and Doolgunna Projects in Western Australia.
The deal sent its share price up 50 per cent to 5.1c at midday.
Sandfire has to spend a minimum of $2 million in two years on exploration of the two sites, while Auris explores the rest of its holding in other parts of the Bryah Basin in WA.
HR tech play Gooroo (ASX:GOO) has teamed up with global HR firm Randstad, boosting its share price by 31 per cent to 10c.
The three-year deal will see Randstad use its people analytics platform across its consulting divisions with further approval to resell the tech to Randstads own customers.
First Graphene’s (ASX:FGR) commercial facility in Western Australia has sent its share price up 30 per cent to 17c.
It told the market the latest development was a significant milestone, “not just for the Company but also for the global graphene industry”.
The company is looking into the wide range of uses for graphene, with a focus on fire-retardant products as well as enhancing the longevity and storage capabilities of lithium-ion batteries.
King River Copper (ASX:KRC) surged 26 per cent on news of high purity Vanadium Pentoxide test results of as much as 99.48 per cent.
At midday it was trading at 7.2c.
The company is developing new methods to produce high grade vanadium in conjunction with TSW Analytical with the hope of producing and marketing vanadium electrolytes as an alternative to lithium ion batteries.
Nova Minerals (ASX:NVA) announced the discovery of spodumene rich pegmatite at its Thompson Brother Lithium project.
The news sent shares up 21 per cent to 3.4c.
Drilling intercepted spodume rich intervals of as much as 28m, a sign of confidence for additional drilling at depth.
In the red
Stream Group (ASX:SGO) was back trading today after a suspension of more than 18 months.
Its stock fell 35 per cent to trade at 5c.
The company sold off its claims management business earlier this year, leaving just its BuildAssist claims management software as its sole revenue-maker.
Millenium Services Group’s (ASX:MIL) half yearly results saw its share price drop 25 per cent to $1.04.
Despite earnings of $6.2 million, the company said it was below targeted expectations — largely due to labour inefficiencies.
An update on its Beehive permit sent Melbana (ASX:MAY) shares down 20 per cent to 1.2c.
It said it had received a six-month extension to its current WA permit at the farm-in with Santos and Total.
iCollege (ASX:ICT) dropped 18 per cent to 4.5c with no news in the market.
Topaz and Tungsten play aptly named TopTung (ASX:TTW) took at hit of 16 per cent to trade at 2.5c at midday.
Earlier this month it confirmed a lack of grade at its tungsten mine, with the final resource estimates expected in the next weeks.