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Lunchtime ASX small cap wrap: who just beat a giant?
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Here are the key ASX small cap winners at lunch Monday January 21:
The ASX Small Ords was down 2.2 points or 0.1 per cent to 2,562.1 at 12.30pm AEST.
GOING UP
Real Energy (ASX:RLE) is patting itself on the back for achieving a solid flow rate at its latest well.
The Tamarama-2 well, which is one of three in the Windorah gas project in the Cooper Basin, hit 2 mmcf/d (million cubic feet per day).
The flow rate was constrained by a small choke size of 13/64 — the device at the wellhead which controls how much gas gets through and is selected to make sure fluctuations in the pressure underground don’t have an effect on the production rate.
Graphite explorer and aspiring electric vehicle battery maker Magnis (ASX:MNS) is set to benefit from talks to build India’s first lithium-ion battery gigafactory.
The Magnis share price — which has ranged between 25.5c and 52c over the past 12 months — improved by over 6 per cent to 34c in early trade.
It’s taken four long years to get to this point but the latest data from Living Cell Technologies’ (ASX:LCT) brain implant Parkinson’s disease drug shows it is safe and does work — mostly.
That detail alone was enough to send Living Cell (ASX:LCT) shares up 15 per cent on Monday morning to 5.4c.
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Nearly 16 million shares in Australian Mines (ASX:AUZ) traded hands before lunch, after the company announced “further outstanding near-surface results” from the company’s extension drilling program at its 100 per cent owned Sconi Cobalt-Nickel-Scandium Project in North Queensland.
Shares ticked up 9pc to 4.7c in early Monday trade.
Here are the best performing ASX small cap stocks at 12.15pm Monday January 21:
Swipe or scroll to reveal the full table. Click headings to sort
| ASX code | Company | % change | Last price | Volume | Market cap |
|---|---|---|---|---|---|
| LRS | Latin Resources | 50% | 0.3c | 850,000 | $5.7m |
| MNC | Metminco | 50% | 0.3c | 170,000 | $2.3m |
| NME | Nex Metals Explorations | 50% | 1.5c | 58,297 | $1.9m |
| QGL | Qauntum Graphite | 50% | 0.3c | 333,333 | $390k |
| OVL | Oro Verde | 33% | 0.4c | 399,286 | $4.7m |
| EM1 | Engage:BDR | 33% | 2c | 1,665,988 | $4.3m |
| DDT | DataDot Technology | 25% | 0.5c | 2,449,860 | $3.2m |
| AT1 | Agency Group Australia | 25% | 17.5c | 25,217 | $4.9m |
| KMT | Kopore Metals | 25% | 1.5c | 4,065,840 | $6.5m |
| VRC | Volt Resources | 23% | 2.7c | 3,658,119 | $32m |
GOING DOWN
Shares in State Gas (ASX:GAS) were hammered, down 15 per cent to 80.5c after closing on Friday at 95c.
The company released an extended slide deck talking about its drilling program at Reid’s Dome, but investors were not impressed by the Powerpoint display.
Here are the worst performing ASX small cap stocks at 12.15pm Monday January 21:
Swipe or scroll to reveal the full table. Click headings to sort
| ASX code | Company | % change | Last price | Volume | Market cap |
|---|---|---|---|---|---|
| AKN | Auking Mining | -50% | 0.1c | 514,000 | $1.9m |
| WBE | Whitebark Energy | -33% | 0.4c | 9,330,143 | $9.4m |
| VAL | Valor Resources | -25% | 0.3c | 400,000 | $7.6m |
| VKA | Viking Mines | -24% | 1.3c | 476,358 | $5.3m |
| PMY | Pacifico Minerals | -20% | 0.4c | 1,550,000 | $8.2m |
| SPX | Spectrum Metals | -20% | 0.4c | 1,125,000 | $5.3m |
| PM1 | Pure Minerals | -19% | 1.3c | 1,084,818 | $4.8m |
| SHH | Share Minerals | -17% | 0.5c | 4,000 | $3.6m |
| FUN | Funtastic | -17% | 5.5c | 199,123 | $15.4m |
| JXT | Jaxsta | -17% | 15c | 27,500 | $22.5m |
