Lunchtime ASX small cap: Who’s dancing in drought-relieving rain today?

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Over the weekend, rural communities in NSW (some of which had not seen decent rain falls in several months) finally got some long awaited rain.

One of these was Bourke, which got the wettest pair of days in a decade. After several weeks of struggle, residents took to the streets to celebrate on Saturday night.

For generation’s they’ve always known how to celebrate rain in Bourke! The boys enjoying the rain last night at the Port Of Bourke Hotel, Bourke NSW. Go follow their FB Page! Or better yet pop in for a beer! #rain #drought #bourke #nsw #australia @bundabergrum pic.twitter.com/PjqUiQBxTg

— RFTTE (@rftte) November 3, 2019

Today on the markets the ASX Small Ords was up 0.92 per cent to 2,913 points and the ASX 200 was up 0.33 per cent to 6,691 points.

Going up

Leading the ASX today is gold explorer Egan Street Resources (ASX:EGA), which is up 54 per cent this morning. Silver Lake Resources (ASX:SLR) has upped its takeover bid for Egan Street in light of a competing offer.

Also among takeover offer recipients today was Panoramic Resources (ASX:PAN), which gained 34 per cent after receiving an offer from Independence Group (ASX:IGO).

Bionomics (ASX:BNO) climbed 32 per cent after its drug got FDA Fast Track designation.

Here are the best performing ASX small cap stocks at lunchtime, Monday November 4:

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

Going down

Pipe-maker Tubi (ASX:2BE) fell 45 per cent with a hefty earnings downgrade. It sees lower demand for its products so has deferred plans for future manufacturing plants and delayed production at one that was due to start last week.

AJ Lucas (ASX:AJL) also fell after the latest chapter in the saga over its partially owned oil well in the UK. The government has put a nation-wide moratorium on fracking.

Here are the worst performing ASX small cap stocks at lunchtime, Monday November 4:

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

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