Lunchtime ASX small cap wrap: who’s feelin’ cagey today
News
Here are the key ASX small cap winners and losers at lunch Tuesday December 11:
Fat Prophets says that despite the “doom & gloom being widely pervasive”, US indices actually rallied and closed the day higher.
This sparked a small rally in Australia.
The ASX Small Ords was up 10.5 points – or 0.42 per cent — to 2497.1 at about 11:30am AEDT, as it looks to bounce back from 15-month lows.
WestStar Industrial (ASX:WSI) has emerged from a trading halt this morning, revealing that its engineering business won an $8m contract for Tianqi’s lithium plant in Western Australia.
Shares jumped over 84 per cent to 2.4c by 11:10am AEST on the news.
The contract was awarded by MSP Engineering, which SIMPEC worked with previously on Talison Lithium’s Greenbushes lithium mine in the south-west of WA.
MSP is the head contractor for the design and construction of the lithium plant in Kwinana, south of Perth.
Chinese-backed Tianqi Lithium is spending more than $700m on building the two-stage lithium processing plant.
Blockchain stock Kycker (ASX:KYK) received a “please explain” from the ASX yesterday after its share price dropped 33 per cent for no reason.
Today, its share price jumped 20 per cent – again, for no reason (apparently). It currently trades for about 7.2c.
Shares in RBR Group (ASX:RBR) are also up 25 per cent in morning trade after the labour hire company won a contract to assess potential workers for a giant Mozambique LNG project.
ASX Code | Name | Intraday price change | Price 12:30pm AEST TUES | Volume |
---|---|---|---|---|
WSI | Weststar Industrial | 53.85% | $0.020 | 39,574,337 |
KLH | Kalia | 50.00% | $0.003 | 1,000,000 |
SRN | Surefire Resources | 40.00% | $0.007 | 2,716,949 |
BKP | Baraka Energy & Resources | 33.33% | $0.004 | 292,500 |
RBR | RBR Group | 25.00% | $0.015 | 3,362,024 |
ANL | Amani Gold | 25.00% | $0.005 | 4,483,008 |
OAR | Oakdale Resources | 23.53% | $0.021 | 22,500 |
MTH | Mithril Resources | 20.00% | $0.006 | 344,734 |
SER | Strategic Energy Resources | 20.00% | $0.006 | 554,000 |
ABW | Aurora Absolute Return Fund | 17.07% | $0.240 | 12,000 |
Retractable syringe-maker Medigard (ASX:MGZ) sunk nearly 29 per cent on Tuesday after telling investors it needs to raise cash soon.
Its share price dipped to an intra-day low of 2c.
With limited cash on hand, Medigard said it will need to raise capital to fund the development of its injectable product to treat back problems.
ASX Code | Name | Intraday price change | Price 12:30pm AEST MON | Volume |
---|---|---|---|---|
QTG | Q Technology Group | -85.00% | $0.003 | 32,500 |
MNC | Metminco | -33.33% | $0.002 | 200,000 |
MGZ | Medigard | -28.57% | $0.020 | 150,000 |
BLY | Boart Longyear | -25.00% | $0.003 | 4,637,369 |
FDX | Frontier Diamonds | -21.43% | $0.033 | 185,744 |
BSX | Blackstone Minerals | -17.86% | $0.115 | 38,468 |
AAJ | Aruma Resources | -16.67% | $0.005 | 450,000 |
PSZ | PS&C | -16.67% | $0.100 | 2,445 |
RLC | Reedy Lagoon | -16.67% | $0.005 | 267,398 |
GSM | Golden State Mining | -15.15% | $0.140 | 6,500 |