Lunchtime ASX small cap wrap: Who’s flying high today?
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The world’s most popular TV show — Game of Thrones — is back for its final season.
Without giving too many spoilers away (or for the two per cent of readers who just don’t care) there was some flying of dragons, some old reunions, and a bit of grisly violence for good measure in the opening episode.
It hasn’t been a dramatic song of ice and fire on the local stock index today, as the ASX Small Ords rose steadily in morning trade to 2,814 by 12pm AEDT — an intra-day gain of 0.4 per cent.
Property tech company Assetowl Limited (ASX: AO1) caught the market’s attention this morning, posting a lazy 213 per cent gain to 2.5 cents.
It followed an announcement that listed real estate agency The Agency Group Australia Ltd (ASX: AU1) will carry out a trial of Assetowl’s Inspector360 platform as part of its service offering.
The aim of the platform is to improve the real estate inspection process by providing 360-degree imagery, videos and hotspot mapping at individual properties.
Elsewhere, cancer fighting company Noxofarm Ltd (ASX: NOX) jumped more than 30 per cent and continued to climb sharply after an update on its anti-cancer medication.
Pre-clinical trials showed that Idronoxil, the key component of the drug, “activates cells associated with both the innate and adaptive immune systems, increasing functional natural killer (NK) cells and CD4+ (T-helper) cell numbers”, the company said.
And shares in mining explorer Orion Minerals (ASX: ORN) initially rose almost 30 per cent after the company came out of a trading halt and announced the completion of an $8m capital raise at 4 cents per share to fund the expansion of its Prieska copper and zinc deposit.
The funding round was priced at a premium to Orion’s recent trading value, and $4m worth of shares were purchased by black South African investors.
The placement was carried out as part of a “major value-enhancing restructure of Black Economic Empowerment (BEE) holdings at the Prieska Project level, securing strong technical and financial BEE partners including local Prieska community members,” Orion said.
Here are the best performing ASX small cap stocks at 12.00pm, Tuesday April 16.
On the losing side, junior lithium explorer Caeneus Minerals Ltd (ASX: CAD) fell through the floor, dropping 80 per cent to 0.2 cents per share on no news.
Uranium play Eclipse Metals (ASX: EPM) also had a rough morning, falling by more than 30 per cent to 0.2 cents. Late last week, the company announced it had increased the size of its exploration area at the Ngalia Basin site in the Northern Territory.
Here are the worst performing ASX small cap stocks at 12.00pm, Tuesday April 16.