Lunchtime ASX small cap wrap: Who’s faking it till they make it today?

Link copied to
clipboard

Here’s a question to start the week: What does the coastal NSW town of Mullumbimby have in common with Russian folk music?

Quite a lot, as it turns out. The cosy hamlet (population: ~3,600) is home to a 28-man strong “Russian” choir, equipped with the uniforms and fake Russian accents.

An ABC report details the story of the group, which came together via a shared love of marching army songs from the “Motherland” (and vodka).

From that humble start, the group has since performed at festivals across Australia. In the crowd at one event was the Russian ambassador, and nek minnit a clip of the group was picked up by Russian TV.

Nek minnit, they got an invite from the Russian Ministry of Culture to perform at the country’s Victory Day Parade on May 9 (unfortunately, COVID-19 forced a cancellation).

Not bad for a group of farmers, teachers and builders from the north coast.

And there’s no sign of Monday blues on the local sharemarket this morning, as the ASX200 rose by around 1.7 per cent into midday trade.

The Small Ords performance continued its strong run (daily gains on 12 out of 17 trading days in May), rising by 1.35 per cent to 2,572.50 points.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday May 25:

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

Under the terms of the deal, EG will pay Oliver’s a $500,000 fee in return for an “exclusive licence to use its OFTG Trademark, in connection with the sale of OFTG products in EG’s Australian petrol and convenience outlets”, the company said.

In March this year Oliver’s, which had an eventful 2019, received a non-binding offer from EG to buy the company at a price of 10c per share. However, the deal was conditional on Oliver’s net debt staying below $800,000 (it rose to $910,000 at March 31).

Shares rose by more than 40 per cent this morning to 5.8c.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday May 25:

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

share

• 
• 
• 
• 

Link copied to
clipboard

SUBSCRIBE

Get the latest Stockhead news delivered free to your inbox.

"*" indicates required fields

Name*

Email*

Hidden

Email Lists

Morning Update

Lunch Update

Market Close Update

Weekend Update

It's free. Unsubscribe whenever you want.

By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.