Lunchtime ASX small cap wrap: Hold ’em or fold ’em?
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Markets have edged slightly lower in midday trade, with the ASX Small Ords down 0.28% to 2,718 at 12:15pm EST.
Gold prices remain supported above $1,870 an ounce, while oil continued its steady climb. Iron ore fell back sharply from recent highs.
Here are the biggest winners (and losers) at lunch Thursday February 20:
Copper miner Hot Chili Ltd (ASX: HCH) was in demand, rising 39 per cent to 3.2 cents as 4.6 million shares changed hands.
On Tuesday, the company made an investor presentation where it announced it had finalised a deal to purchase 100% of the Cortadera copper-gold deposit from a private Chilean mining group.
Earlier this month, the company announced a rights offer to eligible shareholders. It hopes to raise $2,216,979 in capital at an issue price of 1 cent.
The other percentage gains which stood out were all at the minnow end of the market.
The tiny Sabre Resources (ASX:SBR), an exploration company with operations in Namibia, jumped 50 per cent to 1 cent per share.
Here are the best performing ASX small cap stocks at 12pm Thursday February 21:
Lakes Oil advised the market that its interest in the formerly-listed Rawson Oil & Gas has now increased to more than 90 per cent.
Here are the worst performing ASX small cap stocks at 12pm Thursday February 21: