Lunchtime ASX small cap wrap: Who’s focusing on the positives today?

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Here are your biggest small cap winners and losers in morning trade. But first – some good news.

US and European markets rallied yesterday as US-Iran tensions ostensibly ‘eased’, while fresh US economic data revealed that 202,000 private sector jobs were created in December — well above the forecast +160,000.

Locally, things are looking up for the housing construction sector which has just hit 19-month highs. Growth of house building approvals are also near four-year highs.

“The strong rebound in Sydney and Melbourne home prices, record-low borrowing costs and still-solid population growth could underpin demand and the eventual bottoming-out in the construction sector by late 2020,” Commsec writes.

“Commonwealth Bank Group economists expect another interest rate cut on 4 February 2020 to support the economy.”

The ASX200 and ASX Small Ord Indexes are up 0.89 per cent and 1.18 per cent, respectively, in morning trade.

Here are all your key small cap winners and losers in morning trade for Thursday, January 9:

GOING UP:

Lake Resources (ASX:LKE) +54.4%

Argentinean lithium play Lake says its disruptive processing tech really works – sending the stock up over 60 per cent in early trade.

99.9 per cent battery grade lithium carbonate (that’s high) was produced with very low impurities (that’s very important) from the Kachi brine project using California-based Lilac Solutions’ potentially game changing tech.

Lake expects to release a prefeasibility study (PFS) on the low opex project within the next month.

Adavale Resources (ASX:ADD) +52%

Former uranium play/shell company Adavale has submitted applications over tenements neighbouring the government owned Kabanga project in Tanzania — one of the largest undeveloped nickel sulphide projects in the world.

Major miners Glencore and Barrick previously spent hundreds of millions on exploration and predevelopment at Kabanga, before mothballing the project due to low nickel prices.

Adavale says it is assessing whether to tender for the Kabanga project as well.

Vection Technologies (ASX:VR1) +19%

Vection – formely Servtech — will be paid $500,000 by a new Italian client to supply virtual reality dental training software.

Vection managing director Gianmarco Biagi is hoping to parlay this deal into a broader push into the VR health training sector, and says the company is in discussion with “multiple parties”.

Here are the best performing ASX small cap stocks at 12pm Thursday January 9:

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

GOING DOWN

Here are the worst performing ASX small cap stocks at 12pm Thursday January 9:

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

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