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Lunchtime ASX small cap wrap: who’s feelin’ the heat today
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Here are the key ASX small cap winners and losers at lunch Monday January 14:
The ASX Small Ords was up 5.8 points or 0.23 per cent to 2,507.1 at 12.30pm AEST.
GOING UP
Valor Resources (ASX:VAL) has scored mining heavyweight Rio Tinto as its partner for the Berenguela copper, silver and manganese project in Peru.
Investors loved the news, trading the hell out of the Perth-based minnow’s shares, and driving the price up 67 per cent to an intra-day high of 0.5c.
Flinders Mines’ (ASX:FMS) shares have rallied nearly 26 per cent this morning to an intra-day high of 3.4c as shareholders ramp up the fight to stop the explorer’s delisting from going ahead.
In mid-December iron ore hopeful Flinders revealed that it wanted to delist, and in preparation for that would buy shares back using a loan from its biggest shareholder, TIO (NZ) Ltd, which owns 55.6 per cent.
The Takeovers Panel began looking into the matter last Thursday after shareholders raised concerns that the proposed deal would allow TIO NZ to gain further control of Flinders and would be a breach of the Corporations Act.
Here are the best performing ASX small cap stocks at 12.15pm Monday January 14:
Swipe or scroll to reveal the full table. Click headings to sort
| ASX Code | Name | Intraday Price Change | Price 12:15pm (EST) | Volume | Market Cap |
|---|---|---|---|---|---|
| LRS | Latin Resources | 50% | 0.003 | 1.440,000 | $5.6m |
| MNC | Metminco | 50% | 0.003 | 166,667 | $2.2m |
| KLH | Kalia | 50% | 0.003 | 500,000 | $4m |
| TV2 | TV2U International | 40% | 0.007 | 15,442,858 | $10.4m |
| LNY | Laneway Resources | 33.33% | 0.004 | 17,607,437 | $11m |
| PAA | PharmAust | 20.51% | 0.047 | 3,197,953 | $7.7m |
| FMS | Flinders Mines | 25.93% | 0.034 | 1,519072 | $94.10m |
| MHC | Manhattan Corp | 25% | 0.005 | 60,000 | $2.97m |
| PBX | Pacific Bauxite | 25% | 0.015 | 85,000 | $4.76m |
| SMC | Strategic Minerals | 20.69% | 0.350 | 8,542 | $22.70m |
GOIN DOWN
Graphite hopeful Peninsula Mines has announced that managing director Jon Dugdale and director Martin Pyle “would retire effective immediately”.
Replacements have already been found, but that didn’t placate investors which sent then company’s share price down almost 17 per cent to 0.5c per share by midday.
Here are the worst performing ASX small cap stocks at 12.15pm Monday January 14:
Swipe or scroll to reveal the full table. Click headings to sort
| ASX Code | Name | Intraday Price Change | Price 12:15pm (EST) | Volume | Market Cap |
|---|---|---|---|---|---|
| GLA | Gladiator Resources | -50.00% | 0.001 | 1,400,000 | $2.44m |
| CLZ | Classic Minerals | -33.33% | 0.002 | 2,855,001 | $8.14m |
| DTR | Dateline Resources | -33.33% | 0.002 | 2,853,313 | $2.17m |
| GPP | Greenpower Energy | -25.00% | 0.003 | 82,032 | $6.26m |
| AUQ | Alara Resources | -20.83% | 0.019 | 100,000 | $15.10m |
| BLY | Boart Longyear | -20.00% | 0.004 | 347,105 | $131.50m |
| UCM | Uscom | -16.67% | 0.125 | 118,741 | $20.60m |
| YPB | YPB Group | -16.67% | 0.015 | 3,176,235 | $14.40m |
| PSM | Peninsula Mines | -16.67% | 0.005 | 360,717 | $5.18m |
| OVL | Oro Verde | -25.00% | 0.003 | 968,116 | $6.22m |
