Small caps have resumed their upward movement after yesterday’s slight breather, posting gains for their sixth day out of the last seven.

The Small Ordinaries index of 100 small cap companies gained 0.3 per cent on Thursday to finish at 3,036.7 – its best level since February 21.

The ASX200 in contrast declined 0.7 per cent to 6,636.4, while the Emerging Companies index of micro-cap shares gained 0.6 per cent to 1,854.7 – near to a nine-year high.

Otto Energy (ASX:OEL) was the worst-performing stock on Thursday, declining 25 per cent to 0.9c after the oil producer announced its new Green Canyon 21 “Bulleit” oil well in the Gulf of Mexico had been underperforming since being shut down in October because of Hurricane Zeta.

Elsewhere on the ASX:

Announcements

– AnteoTech Diagnostics (ASX:ADO) soared 26.6 per cent to 2.1c after freezing design work on its COVID-19 antigen rapid test in preparation for a possible market launch in the first quarter of next year. The Queensland company says even with a vaccine there’ll still be a need for Covid tests and the one it is developing can deliver results in 15 minutes.

– IntelliHR (ASX:IHR) gained 8.4 per cent to 26c after the cloud-based people management platform announced its contracted annual recurring revenue (ARR) increased to $2.8 milliion in the first half of FY21, compared to a year ago. There have been five recent customer signings, including its first major new North American enterprise customer.

– Vection Technologies (ASX:VR1) gained 9.1 per cent to 12c after announcing it would collaborate with Italy’s biggest train operator to introduce Vection’s augmented reality technology for remote train maintenance.

– MedAdvisor (ASX:MDR) dipped 6.1 per cent to 38.5c despite its subsidiary Adheris renewed a one-year deal with a major biopharmaceutical company worth $US1.89 million ($2.6 million). The program will use data analytics to encourage patients to take their medicine.

– Osprey Medical (ASX:OSP) signed an independent sales agency agreement with BioCore, an independent sales group that specialises in selling cardiac surgery, electrophysiology and cath lab products. Osprey Medical CEO Mike McCormick said: “We are excited to partner with BioCore as part of our US expansion strategy. BioCore has over 20 years of experience selling heart-related technologies and has a strong presence in many hospitals in the North-eastern US…. I look forward to adding more ISA’s (independent sales agencies) in other regions as we continue to expand while managing our cash burn closely.”

Trading halts

Bio-Gene Technology (ASX:BGT) – AGM results
Surefire Resources (ASX:SRN) – drilling results
PNX Metals (ASX:PNX) – capital raising
FYI Resources (ASX:FYI) – capital raising
Cirralto (ASX:CRO) – Visa agreement and capital raising
Chesser Resources (ASX:CHZ) – capital raising
Raiden Resources (ASX:RDN) – project update

Osprey Medical is a Stockhead advertiser

Featured Companies

You might be interested in