Here are the key ASX small cap gainers and losers at 1pm AEST Monday.

The ASX Small Ords was down 9 points at 2797.1 at 12.50pm AEST.

GOING UP

“Internet of Things” (aka IoT) tech maker Xped (ASX: XPE) gained 40 per cent to 0.5c on Monday morning after announcing “the first significant cash flow realised from the commercialisation of its core technologies”.

Under a deal with US-based start-up Heuresy Labs, Xped will develop a hardware security device that provides authentication and encryption.

Xped will get up to $US500,000 under the deal plus distribution rights for the technology which it described as a “cryptographic Physical Security Token”.

Xped was quick to point out it was “not planning to undertake a coin or token offering” — in reference to the market for cryptocurrencies and initial coin offerings.

The shares were at 0.4c by 1pm AEST.

Gold and base metals explorer Musgrave Minerals (MGV:ASX) put on 21 per cent to 6.8c after selling 15 per cent of itself to fellow listed miner Westgold Resources (ASX:WGX).

Westgold paid $3.36 million at 7c a share. The shares were at 6.5c by 1pm AEST.

The money would allow Musgrave to accelerate exploration and develop studies at its Cue gold and copper project in the Murchison region of Western Australia.

Drilling to test 10 new, high-priority gold targets at Cue was “progressing well with approximately 65 per cent of the drilling complete and further assays expected within the next two weeks”, the company said.

Westgold has three operating mills in the region which may come in handy.

Wifi-finder app Norwood Systems (ASX:NOR) gained 22 per cent to 1.1c after launching its service on Google’s Android mobile platform.

Norwood’s World Wi-Fi app uses a visual, augmented reality interface to help Internet surfers “easily discover and securely access public Wi-Fi networks”.

Norwood also released an upgraded version of the app for Apple iphone users featuring improved performance and a new interface.

IT consultant CPT Global (ASX:CGO) continued to climb after telling investors last week the “momentum we built during the first half of the financial year has continued through the second half”.

Profit before tax for the second half was expected to exceed the last half’s $265,186, contributing to a full-year profit of $610,000 to $810,000.

CPT was up 27 per cent at 14c by 1pm AEST.

Gold explorer Gladiator Resources (ASX:GLA) got a bump today after last week telling investors that it had held initial meetings at its North Arunta gold project 240km north of Alice Springs.

North Arunta is a joint venture with Prodigy Gold (ASX:PRX). Efforts to find targets are now underway.

Gladiator was up 20 per cent at 0.6c by 1pm AEST.

Would-be blockchain play Serpentine Technologies (ASX:S3R) climbed 25 per cent to 0.5 per cent on no news.

Here are the top ASX small cap gainers by Monday lunch:

ASX code Company Price change May 28 intraday Price May 28 (to 12.30pm AEST) Market Cap
XPE XPED 0.666666666667 0.005 4.5M
VPR VOLT POWER GROUP 0.5 0.003 16.5M
EMP EMPEROR ENERGY 0.5 0.003 1.8M
ACP AUDALIA 0.4 0.021 6.0M
SHK STONE RESOURCES 0.333333333333 0.004 2.4M
CGO CPT GLOBAL 0.272727272727 0.14 4.1M
WGL WANGLE 0.25 0.005 4.4M
S3R SERPENTINE 0.25 0.005 3.2M
MAR MALACHITE 0.2 0.006 7.5M
ABL ABILENE OIL AND GAS 0.166666666667 0.007 2.4M
FEL FE 0.153846153846 0.03 9.6M
FCT FIRSTWAVE CLOUD 0.148148148148 0.31 53.9M
MGV MUSGRAVE 0.142857142857 0.064 15.6M
LRS LATIN RESOURCES 0.142857142857 0.008 18.4M
ALT ANALYTICA 0.142857142857 0.008 21.2M
OLI OLIVER'S REAL FOOD 0.130434782609 0.13 24.5M
CEL CHALLENGER 0.125 0.018 6.2M
ALY ALCHEMY 0.125 0.018 5.6M
NNW 99 WUXIAN 0.121212121212 0.185 191.3M

GOING DOWN

Oro Verde (ASX:OVL) fell 25 per cent to 0.3c by 1pm AEST after the Nicaragua-focused gold explorer secured $1.7 million funding through a placement to sophisticated investors.

The 680 million shares — to be issued at 0.025c each — and will be partly subject to shareholder approval at a meeting in early July.

The funds are for working capital, maintaining assets and to “continue the search for projects that can add value to the company”.

It was a similar story for WA-focused gold explorer Classic Minerals (ASX:CLZ) which fell 20 per cent after completing the first stage of a $1 million capital raising at 0.4c per share.

The shares were steady at 0.5c by 1pm AEST.

Classic was now “well-positioned to commence an aggressive exploration and resource delineation drill program at its Forrestania Gold Project”.

“Following the fantastic results of our last drilling program, including a brand-new discovery at Van Uden West and multiple high-grade gold hits at Kat Gap and Lady Lila, we are very excited to be heading back to the FGP to undertake an aggressive follow up drill program,” Classic CEO Dean Goodwin said.

Here are the ASX small cap losers at Monday lunch:

ASX Code Company Price change May 28 (intraday) Price May 28 (12.30pm AEST) Market Cap
TKF TIKFORCE -0.25 0.006 1.6M
OVL ORO VERDE -0.25 0.003 3.5M
IOT IOT GROUP -0.25 0.003 4.3M
MSR MANAS RESOURCES -0.2 0.004 13.2M
ICG INCA MINERALS -0.2 0.004 13.0M
IBN IBUYNEW GROUP -0.2 0.004 10.6M
SVH SILVER HERITAGE -0.183673469388 0.04 28.8M
PDZ PRAIRIE MINING -0.173076923077 0.43 87.1M
SBB SUNBRIDGE GROUP -0.166666666667 0.01 5.7M
CVV CARAVEL MINERALS -0.142857142857 0.06 8.3M
MJP MARTIN AIRCRAFT -0.142857142857 0.006 2.8M
PNN PEPINNINI -0.130434782609 0.02 12.3M
ZYB ZYBER -0.125 0.007 5.2M
CTM CENTAURUS METALS -0.125 0.014 36.8M
WEC WHITE ENERGY -0.125 0.035 13.1M
CXX CRADLE RESOURCES -0.12 0.088 18.5M
TV2 TV2U -0.117647058824 0.015 33.1M
WOF WOLF PETROLEUM -0.111111111111 0.008 6.2M
CHK COHIBA MINERALS -0.111111111111 0.008 5.0M