Lunchtime ASX small cap wrap: who’s cleaning up today
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Here are the key ASX small cap winners and losers at lunch Tuesday, November 27.
The ASX Small Ords was pretty steady, up around 4.7 points — or 0.2 per cent — to 2,528.2 at 12:40pm AEST.
Air purifier stock Purifloh (ASX:PO3) was up as much as 36 per cent today to $4.45 per share – an incredible 1,550 per cent increase over the last 12 months.
Purifloh’s killer run started earlier this month when American businessman Bill Parfet paid $2.40 for a stock that was going for about 50c.
Purifloh — which makes no revenue – has technology it wants to roll out in air purification, water sanitation, and medical sterilisation.
The Metal Bank (ASX:MBK) share price has bounced back from yearly lows, increasing 17 per cent to 1.4c after it announced the discovery of a 10km-wide mineralised system at its “8 Mile” gold project in Queensland.
Metal Bank managing director Tony Shcreck says the discovery has similar “preliminary technical indicators” to the 2 million-ounce Mt Rawdon gold mine, which is just 15km away.
Explorer Cohiba Minerals (ASX:CHK) released a scoping study on its “Pyramid Lake” gypsum project yesterday – today the share price bounced over 45 per cent to 0.8c.
Cohiba says the initial nine year project will cost about $1.2 million to build, which would be fully paid back in about two and a half years.
Millennium Group (ASX:MIL) — which provides cleaning and security services to big shopping centres and government departments – plummeting almost 40 per cent today after downgrading its earnings guidance to potentially “break even” for FY19.
The stock is now worth a year-low 24c – a far cry from the $1.57 price seen about 12 months ago.