Here are the key ASX small cap winners at lunch Thursday January 31:

The ASX Small Ords was up 21.6 points or 0.9 per cent to 2,595.8 at 12pm AEST.

GOING UP
Explorer Galena Resources (ASX:G1A) leapt out the gate after locking in a company-making $90 million deal that sent the stock up 40 per cent to a record high of 35c per share.

The company popped out an announcement an hour after the market closed on Wednesday saying it had secured a $90 million investment from Toho Zinc, a $47 billion Japanese lead and zinc smelting company.

Toho has invested the money for a 40 per cent interest in Galena’s subsidiary Abra Mining, which owns the world class Abra base metals project.

Shares in infant formula maker Bubs Australia (ASX:BUB) were up 10 per cent to an intraday high of 47.5c thanks to a bumper quarterly report.

It made more money in the last six months than it did for the entire 2018 financial year.  The big driver was Chinese sales: up 2,281 per cent compared with Q2 2018 and up 121 per cent on the September quarter.

Prana Biotechnology (ASX:PBT) has secured ‘orphan drug’ status for a drug candidate to treat multiple system atrophy, a disease that slowly attacks the nervous systems controlling movement and functions like blood pressure.

Investors enjoyed that news, sending the shares up 17 per cent to 4.1c before lunch.

‘Orphan drug’ status is a designation that incentivises the creation of drugs for rare, otherwise commercially non-viable diseases.

And MyFiziq (ASX:MYQ) shares rocketed up 58 per cent by lunch to 45c, as the stock climbed to match the 60c buying price from a new investor that has tipped in $6 million.

MyFiziq will get the money in five tranches over the course of this calendar year, and it will be used to fund the expansion and rollout of the company’s tech and increased staffing.

Here are the best performing ASX small cap stocks at 12.15pm Thursday January 31: 

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ASX code Company % change Last price Volume Market cap
ROG Red Sky Energy 100% 0.2c 100,000 $820k
MYQ MyFiziq 58% 45c 2,893,360 $23.8m
LRS Latin Resources 50% 0.3c 750,000 $5.7m
QGL Quantum Graphite 50% 0.3c 391,500 $390k
ORM Orion Metals 40% 0.7c 35,000 $2.2m
TRL Tanga Resources 33% 0.4c 500,000 $3.8m
BUY Bounty Oil and Gas 33% 0.4c 550,000 $2.9m
ICG Inca Minerals 33% 0.4c 1,000,000 $8.9m
TPD Talon Petroleum 33% 0.4c 3,677,789 $3.8m
GGX Gas2grid 33% 0.4c 70,000 $2.9m

 

GOING DOWN

Blackham Resources (ASX:BLK) had a rough Thursday morning, with nearly $1 million worth of shares trading hands as the stock fell 27 per cent to 4c on its quarterly update.

It expects to spend $41 million next quarter, but only has $6.8 million in cash and bullion in the bank.

The worst news is that its cost are creeping back up — they’re now at A$1,606 an ounce, which is pretty high when you realise that gold at just over $1800 an ounce is near its 52-week high.

Here are the worst performing ASX small cap stocks at 12.15pm Thursday January 31: 

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ASX code Company % change Last price Volume Market cap
NIU Niuminco -50% 0.1c 3,162,525 $5.6m
KGM Kalnorth Gold Mines -29% 0.5c 132,114 $6.3m
SMD Syndicated Metals -29% 0.5c 12,318 $4.5m
BLK Blackham Resources -25% 4.1c 24,056,948 $73.8m
SUR Sun Resources -25% 0.3c 1,000,000 $3.5m
TOM Tomizone -25% 0.9c 200,000 $5.1m
CCE Carnegie Clean Energy -25% 0.3c 828,510 $11.5m
AER Aeeris -24% 5c 41,569 $3.7m
AL8 Alderan Resources -22% 10.5c 5,000 $11.7m
DVL DorsaVi -22% 5.1c 44,134 $13.3m