Lunchtime ASX small cap wrap: who’s making waves today

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Here are the key ASX small cap winners and losers at lunch Monday Sep 17:

The ASX Small Ords was up 3.6 points or 0.13 per cent to 2,834.5 at 12.54pm AEST.

GOING UP

Vintage Energy (ASX:VEN) is celebrating a good debut on the ASX. The newly-listed company listed at a 15 per cent premium to its 20c issue price.

The gas explorer raised $30 million by issuing 150 million shares at 20c per share to capitalise on a potential east coast gas shortage.

It’s buying a large landholding in the Galilee Basin in Queensland through a farm-in with Comet Ridge (ASX:COI).

The company is also in a joint venture with Rawson Oil and Gas (ASX:RAW) to drill the Nangwarry gas prospect in South Australia, and has a gas permit in the onshore Bonaparte Basin in the Northern Territory.

Sex toy wholesaler Delecta (ASX:DLC) has… become a cobalt and copper miner.

And investors greatly enjoyed the news, sending the company up 43 per cent to 1c — its highest mark in over four years.

Late last month Delecta reported reduced revenue and a net loss, but this morning revealed that it had signed an agreement to acquire full interest in a high-grade cobalt-copper project in Nevada, US.

It says the project area is adjacent to ASX-listed New World Cobalt’s (ASX: NWC) claims and Tyranna Resources’ (ASX: TYX) claims.

Terrain Minerals (ASX:TMX) told investors it had received “excellent” metallurgical recovery results, sending the stock up 11 per cent to an intraday high of 0.5c.

The results came from a metallurgical recovery test work program recently undertaken on the mineralisation at its Great Western site.

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Argonaut Resources (ASX:ARE) was up 13 per cent to an intraday high of 2.7c after telling investors the management committee of the Torrens Joint Venture has resolved to proceed with stage one of a major drilling program at Torrens in South Australia.

The drilling program is to be the first phase of a multi-phase program that is expected to take 18-24 months and comprise 20-30 deep drill holes.

Here are the best performing ASX small cap stocks at 12.30pm AEST Monday Sep 17: 

Swipe or scroll to reveal the full table. Click headings to sort

GOING DOWN

Aged care-related stocks are plunging after Prime Minister Scott Morrison called for a Royal Commission into the sector over the weekend.

Click the link above for a full run-down. Both Japara (ASX:JHC), which operates 48 aged care homes, and Estia Health (ASX:EHE), which operates 68 aged care homes, are among the ten biggest small cap decliners at lunch today, dropping 21 per cent and 18 per cent respectively.

Here are the worst performing ASX small cap stocks at 12.30pm Monday 17 September: 

Swipe or scroll to reveal the full table. Click headings to sort

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