Lunchtime ASX small cap wrap: who’s doing shoeys today

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Here are the key ASX small cap winners and losers at lunch Monday October 8:

The ASX Small Ords was down 20.2 points or 0.7 per cent to 2,823.5 at 1pm AEST.

GOING UP

Shares in troubled junior telco Inabox Group (ASX:IAB) climbed 50 per cent to an intraday high of 75c after it revealed it is selling its telecommunications and enablement services business to MNF Group (ASX:MNF).

The company had a challenging FY18, starting when a cloud business it owned performed much poorer than expected.

Back in June, takeover talk pushed the group’s performance, and then in August sell-offs began, with 5G Networks (ASX:5GN) picking up that cloud business and another Inabox business, Anittel, for $5.7m.

The sale of its telco and enablement business will net the company $33.5 million. 75c is the highest it has traded since the share price halved last year.

3D printer Aurora Labs (ASX:A3D) rose 30 per cent to an intraday high of $1.06 after it revealed it can print metal faster than ever.

It told investors it had achieved significant speed increases for its Rapid Manufacturing Technology (RMT), 2.5 times the recently announced rates, and is now printing at 1.667kg/hr, equivalent to 40kg/day.

It says this printing speed is approximately 20 times the speed of a comparable size, commercially available, machine that can print titanium (CP-Ti).

Meteoric Resources (ASX:MEI) shares were up 19 per cent to an intraday high of 1.9c after a geophysical survey at its Ontario exploration program uncovered nine copper-cobalt-gold target anomalies.

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Last week’s small cap superstar Biotron (ASX:BIT) saw its shares rising again, this time up 22 per cent to an intraday high of 10c.

Biotron was all the rage last week after it revealed clinical trial results showing its drug having an effect on patients with HIV-A. Its stock skyrocketed 750 per cent to 16c, then took an inevitable little tumble.

But there is still plenty of interest from investors, with $3.5 million worth of shares trading hands by lunch.

Here are the best performing ASX small cap stocks at 12.30pm Monday October 8: 

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

GOING DOWN
Reedy Lagoon (ASX:RLC) shares have taken a dive this morning after the lithium minnow revealed it still isn’t finding anything of significance at a project in Nevada.

Reedy told investors after market close on Friday that it had uncovered “low levels” of lithium and boron that were not “considered to be significant” during drilling at its “Big Smoky South” project.

Shares dropped 20 per cent to 0.8c on the news.

Here are the worst performing ASX small cap stocks at 12.30pm Monday October 8: 

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

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