Here are the key ASX small cap winners and losers at lunch Wednesday Aug 22:

The ASX Small Ords was up 24 points or 0.9 per cent to 2875.9 at 12.50pm AEST.

GOING UP

Real estate funds manager Folkestone (ASX:FLK) had a slew of positive news out today that sent its stock up 26 per cent to an intraday high of $1.40.

Leading the bulletin was the sale of Folkestone to Charter Hall Group (ASX:CHC), a $3.3 billion property company. If approved, the transaction will be completed by November. Folkestone’s shares rose to match the offer price of $1.39 a share.

The company also reported a 43 per cent drop in revenue, a slight increase in profit and a 3c dividend to shareholders.

Lithiun explorer AVZ Minerals (ASX:AVZ) is on the way up despite a lack of news. AVZ rose 21 per cent to an intraday high of 11.5c with nearly 11 million trades after closing under 10c the day before.

Earlier this month AVZ confirmed it had the “world’s largest lithium deposit” in the Congo.

AVZ’s former chairman Klaus Eckhof recently bought into Lachlan Star (ASX:LSA), which was enough to send that company’s stock up 64 per cent.

Shares in zinc miner Inca Minerals (ASX:ICG) went flying 25 per cent today to an intraday high of 0.5c after the company announced that South32, a diversified global miner, had exercised its option to earn-in for the right to acquire majority ownership of Inca’s Greater Riqueza Project.

As part of the deal South32 will earn 60 per cent interest in the project, with the funding for first-phase exploration to be between US$8 and US$10 million.

Inca’s shares dropped earlier this month when it was revealed that its biggest shareholder was selling down.

Advanced Braking Technology (ASX:ABV) enjoyed a 50 per cent spike in the share price, to an intraday high of 0.3c with two million shares traded.

Late last week, ABV extended the non-renounceable entitlement offer to shareholders from today until September 5.

Shares rose from the company’s previous day close of 0.2c, the price at which new shares are being offered.

Here are the best performing ASX small cap stocks at 12.30pm Wednesday, Aug 22:

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ASX code Company Today's change (12.30pm AEST) Price (12.30pm) Volume
APG Austpac Resources 1 0.2c 350,000
ABV Advanced Braking Technology 0.5 0.3c 2,050,997
EPM Eclipse Metals 0.33 0.4c 544,986
DTM Dart Mining 0.29 0.9c 6,546,103
FLK Folkestone 0.26 $1.40 2,319,041
ELT Elementos 0.25 0.5c 524,000
CLZ Classic Minerals 0.25 0.5c 14,464,728
ICG Inca Minerals 0.25 0.5c 17,920,598
MBM Mobecom 0.24 21c 116,157
FOD Food Revolution Group 0.2 9.6c 1,832,067

 

GOING DOWN

Great Western Exploration (ASX:GTE) was down 29 per cent this morning to an intraday low of 0.5c, with nearly 9 million shares trading hands, on no news.

Late last week the miner announced that it had found a second significant gold trend at Yandal West in Western Australia. But the company’s shares have been on a downward trajectory since the start of the year.

Here are the worst performing ASX small cap stocks at 12.30pm Wednesday, Aug 22:

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ASX code Company Today's change (12.30pm AEST) Price (12.30pm) Volume
BDI Blina Minerals -0.5 0.1c 10,600,000
IBN iBuyNew Group -0.33 0.2c 1,027
AKN Auking Mining -0.33 0.2c 30,000
DDT DataDot Technology -0.33 0.2c 57
VPR Volt Power -0.33 0.2c 500,044
NWE Norwest Energy -0.33 0.2c 70,002
GTE Great Western Exploration -0.29 0.5c 8,903,998
IKW Ikwezi Mining -0.25 0.5c 3,776
OEX Oilex -0.25 0.3c 965,434
RMG RMG -0.23 1c 651,212