The Michelin star is highly coveted among restauranteurs. Since 1900 the Michelin Guide has rated restaurants around the world – and yes it’s the same company that makes tyres.

The guide uses a 3-star system and one-star restaurants are ‘very good’, two-star restaurants are ‘worth a detour’ while three-star restaurants are worthy of a ‘special journey’.

If you thought just high-end restaurants are in the list you would be wrong. A 74-year old street food entreprenuer from Bangkok, Jay Fai, won a Michelin star recently.

37-year old Sam Edelmen wants his restaurant to join the ranks. His place? A KFC in Alice Springs. But he is serious and has begun a campaign.

Whether you think it is likely or not, a Michelin star is not the be all and end all. In fact, it can be a bad thing. Poor Jay Fai now has queues lasting several hours and she does most of the work herself.

But a franchisor might have things easier and as Edelmen himself notes his KFC is the most remote KFC in the world.

Back to the ASX, where no company, let alone a small cap, has a Michelin star, but as we mentioned in yesterday’s lunchtime wrap our market has has a solid year. In anticipation of signs of a trade war truce or resolution from the G20 and a rate cut as early as next week, our markets have been flat this week.

Today the ASX Small Ords is down 4 points to 2837 – or by 0.16 per cent.

Going up

PNX Metals (ASX: PNX) has surged 90 per cent after its latest results. These include one blow assay with 11.87 per cent zinc, 4.19g/t of gold, 309g/t of silver, 1.94 per cent of lead and 0.49 per cent of copper. Ora Gold (ASX: OAU) also jumped after positive results.

Oakdale Resources (ASX: OAR) soared after it revealed it has signed a binding option term sheet to buy a Nevada Gold project.

Here are the best performing ASX small cap stocks at lunchtime, Thursday June 27:

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Code Name Price % Chg Market Cap Volume
PNX PNX METALS Ltd 0.0095 90% $21.9M 122.6M
NGY NuEnergy Gas Ltd 0.013 60% $11.8M 200.0k
AGE Alligator Energy Ltd 0.003 50% $3.0M 250.0k
CAD Caeneus Minerals Ltd 0.0015 50% $3.2M 450.0k
EMP Emperor Energy Ltd 0.003 50% $3.4M 5.9M
IAM Intiger Group Ltd 0.0015 50% $2.5M 305.0k
OEX Oilex Ltd 0.003 50% $7.8M 200.0k
TMX Terrain Minerals Ltd 0.003 50% $1.9M 3.4M
XST XState Resources Ltd 0.003 50% $3.4M 1.3M
DAF Discovery Africa Ltd 0.01 38% $2.2M 112.4k
OAU Ora Gold Ltd 0.01 38% $7.1M 2.1M
AOA Ausmon Resources Ltd 0.004 33% $2.2M 150.0k
DRE Dreadnought Resources Ltd 0.004 33% $4.4M 1.4M
MLS Metals Australia Ltd 0.002 33% $5.9M 500.0k
OAR Oakdale Resources Ltd 0.02 33% $5.2M 98.6k
SW1 Swift Media Ltd 0.2 25% $30.8M 191.3k
MMR MEC Resources Ltd 0.005 25% $2.1M 229.4k
QTG Q Technology Group Ltd 0.005 25% $751K 35.0k
DEM De.Mem Ltd 0.16 24% $19.4M 224.5k
KRR King River Resources Ltd 0.03 21% $35.9M 3.6M
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Going down

Pursuit Minerals (ASX: PUR) fell 31 per cent after revealing a cost reduction program. It is postponing plans to list in London and defer “all non-essential expenditure on the company’s exploration projects”. It also announced Jeremy Read and Ian Wallace will leave and two other directors will cop a pay cut.

While Chinese agriculture stock Jiajiafu Modern Agriculture (ASX: JJF) had no news, it has fallen today. It’s possible investors have been spooked by the delisting of Sunbridge Group (ASX: SBB) and suspension of Dongfang Agriculture (ASX: DFM).

Here are the worst performing ASX small cap stocks at lunchtime, Thursday June 27:

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Code Name Price % Chg Market Cap Volume
GLV Global Vanadium Ltd 0.001 -50% $2.8M 2.5M
RD1 Registry Direct Ltd 0.02 -32% $2.2M 7.8k
PUR Pursuit Minerals Ltd 0.011 -31% $2.1M 12.0M
SRZ Stellar Resources Ltd 0.01 -29% $3.8M 1.2M
FE8 Faster Enterprises Ltd 0.012 -25% $1.3M 10.0k
JJF Jiajiafu Modern Agriculture Ltd 0.04 -20% $3.4M 10.0k
IS3 I Synergy Group Ltd 0.2 -20% $37.5M 9.0k
SYT Syntonic Ltd 0.002 -20% $6.6M 199.0k
EPM Eclipse Uranium Ltd 0.002 -20% $2.3M 14.3M
DTM Dart Mining NL 0.004 -20% $4.0M 190.0k
RNX Renegade Exploration Ltd 0.0025 -17% $1.8M 433.0k
EQE Equus Mining Ltd 0.01 -17% $9.0M 1.8M
TKL Traka Resources Ltd 0.012 -14% $4.4M 58.7k
SPQ Superior Resources Ltd 0.012 -14% $4.1M 25.0k
MSE Metalsearch Ltd 0.006 -14% $2.9M 240.0k
ICG Inca Minerals Ltd 0.003 -14% $12.3M 400.0k
GTG Genetic Technologies Ltd 0.006 -14% $16.3M 2.0M
ETE Entek Energy Ltd 0.006 -14% $2.9M 2.7M
ENT Enterprise Metals Ltd 0.006 -14% $2.4M 20.0k
GPR Geopacific Resources Ltd 0.02 -13% $51.8M 203.5k
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