Lunchtime ASX small cap wrap: Who’s being excellent today?
Who’s winning and losing on a Friday this week? We’re glad you asked.
But first – it’s been 28 years since Bogus Journey hit the cinemas, but time travelling slackers Bill and Ted are back, officially.
The boys are obviously looking a bit more ‘Keith Richards’ these days but still, very exciting.
The world is about to get a lot more excellent. Watch this special announcement from your two favorite dudes! 8.21.20 🎸⚡️ pic.twitter.com/miOtBhinlC
— Bill & Ted 3 (@BillandTed3) March 20, 2019
Anyway, be excellent to each other, because the ASX Small Ords is up 3 points – or 0.12 per cent – to 2772.70.
Since its nice recovery from late December through to mid-February, the index has just bumbled along in place. Check this out:
Here’s the state of play at lunch Friday March 22:
A few days ago, Spectrum Metals (ASX:SPX) confirmed a high grade gold discovery in Western Australia. Now, neighbouring explorer Venus Metals (ASX:VMC) says it’s already planning to drill test targets “abutting the Spectrum tenure”.
Venus Metals controls all strike extensions to the north and south of the Penny West discovery, it says. The news excited investors – the stock shot up almost 16 per cent to 18.5c in morning trade.
Digital medication management company MedAdvisor (ASX:MDR) has partnered with Adheris Health to accelerate rollout in US market — and investors loved it, sending the stock up 27 per cent.
Also up 100 per cent on no news were Volt Power (ASX:VPR), Hylea Metals (ASX:HCO) and Shareroot (ASX:SRO).
Here are the best performing ASX small cap stocks at 12pm on Friday, March 22:
Consolidated Zinc (ASX:CZL) is being sued by a pesky local rancher over a land use agreement for its Plomosas zinc mine in Mexico.
The rancher wanted the deal canned because Consolidated Zinc allegedly didn’t tell him that the agreement would be transferred from another company to Consolidated’s Mexican subsidiary.
Also, he says the explorer hadn’t paid the land use rental charges.
Investors punished the stock, sending the share price down 17 per cent.
Here are the worst performing ASX small cap stocks at 12pm on Friday, March 22: