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:

GOING UP

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:

ASX Code Name Last price Percentage change Market cap Volume
SBR Sabre Resources Ltd 0.01 50% $2,400,000 150.0k
HCH Hot Chili Ltd 0.03 39% $34,200,000 4.6M
CLZ Classic Minerals Ltd 0.002 33% $5,400,000 250.0k
S3R Serpentine Technologies Ltd 0.004 33% $2,900,000 250.0k
SIO Simonds Group Ltd 0.38 29% $53,900,000 94.8k
TV2 TV2U International Ltd 0.01 29% $18,100,000 11.9M
POD Podium Minerals Ltd 0.07 25% $6,700,000 171.3k
PSM Peninsula Mines Ltd 0.005 25% $4,300,000 140.0k
EM1 Emerge Gaming Ltd 0.01 22% $6,500,000 5.9M
RDN Raiden Resources Ltd 0.01 22% $4,500,000 1.2M
GBR Great Boulder Resources Ltd 0.19 19% $14,000,000 302.8k
CGN Crater Gold Mining Ltd 0.01 17% $25,400,000 132.4k
MTH Mithril Resources Ltd 0.01 17% $3,000,000 5.7M
UTR Ultracharge Ltd 0.01 17% $6,600,000 72.1k
AFG Australian Finance Group Ltd 1.11 16% $240,600,000 782.9k
HWK Hawkstone Mining Ltd 0.02 16% $10,800,000 87.0k
CAT Catapult Group International L 0.71 15% $136,500,000 405.0k

GOING DOWN

A bunch of resources and energy stocks are in the red today, led by Perpetual Resources (ASX: PEC) and Lakes Oil (LKO), both down 33 per cent just before midday.

Lakes Oil advised the market that its interest in the formerly-listed Rawson Oil & Gas has now increased to more than 90 per cent.

Mining minnows Magnetite Mines (ASX: MGT) and Amani Gold (ASX: ANL) were both down 17 per cent on higher volumes, with more than 4 million shares trading hands in each company trading hands.

Here are the worst performing ASX small cap stocks at 12pm Thursday February 21:

ASX code Company Closing price Percentage change Market cap Volume
PEC Perpetual Resources Ltd 0.04 -33% $9,900,000 3.8k
LKO Lakes Oil NL 0.001 -33% $30,700,000 400.0k
MGT Magnetite Mines Ltd 0.005 -17% $3,700,000 4.2M
TSC Twenty Seven Co Ltd 0.005 -17% $4,500,000 50.0k
ANL Amani Gold Ltd 0.0025 -17% $5,500,000 4.6M
UUV UUV Aquabotix Ltd 0.05 -17% $7,200,000 21.4k
RCP Redbank Copper Ltd 0.04 -17% $4,100,000 17.5k
BIT Biotron Ltd 0.07 -16% $41,700,000 11.5M
SEQ Sequoia Financial Group Ltd 0.22 -15% $26,200,000 189.3k
PPG Pro-Pac Packaging Ltd 0.14 -15% $97,300,000 752.1k
AGE Alligator Energy Ltd 0.003 -14% $3,000,000 100.0k
E2E Eon NRG Ltd 0.01 -14% $2,800,000 405.0k
AMD Arrow Minerals Ltd 0.01 -14% $3,800,000 903.8k
ZIP ZipTel Ltd 0.01 -13% $1,900,000 346.8k
CY5 Cygnus Gold Ltd 0.05 -13% $3,200,000 40.0k
AUT Auteco Minerals Ltd 0.01 -13% $6,300,000 1.9M
POH Phosphagenics Ltd 0.0035 -13% $5,500,000 759.9k
CXM Centrex Metals Ltd 0.1 -13% $33,100,000 14.7k