If you thought Qantas wanting to fly from Australia to New York and London direct was ambitious, think again. Take a look at this Nigerian airline – Air Peace.

It has operated domestic flights since 2013 but this month has launched flights between Lagos and Sharjah in the UAE. If you want to get to Dubai, then they’ll bus you the rest of the way.

Air Peace has several planned destinations but for now it only has one long haul aircraft.

American aviation blogger Ben Schlappig wants to fly on Air Peace. But as he admits, he had a similar airline crush on TAAG Angola and that didn’t end well for him. (So next time you complain about TigerAir and Jetstar think again).

Perhaps he should stick to that Caribbean startup which acquired a 747 and wants to fly it from St Vincent to Dubai.

Australia’s market is not getting ahead of itself today. The ASX Small Ords is down 0.06 per cent to 2,893 while the ASX 200 has gained 0.06 per to 6,658.

ANZ Consumer Confidence has declined again by 1.5 per cent yet consumers still remain positive about their own circumstances.

The minutes of the RBA board meeting were released and while the outlook was reasonable, trade and technology dispute risks remained high and inflation was low.

Going up

Astro Resources (ASX: ARO) jumped 50 per cent after announcing drilling had begun at its gold-silver project in Nevada.

Nanollose (ASX: NC6) climbed nearly 30 per cent after announcing a eco-friendly fabric making process it had trialled had worked.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday July 16:

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Code Name Price % Chg Market Cap Volume
SRO Shareroot Ltd 0.002 +100.00% $4.1M 10.5M
ARO Astro Resources NL 0.003 +50.00% $3.8M 326.7k
WRM White Rock Minerals Ltd 0.008 +33.33% $13.1M 1.2M
NC6 Nanollose ltd 0.06 +29.79% $4.6M 393.6k
DEM De.Mem Ltd 0.22 +28.57% $31.3M 1.5M
BLY Boart Longyear Ltd 0.005 +25.00% $131.5M 500.0k
EVE EVE Investments Ltd 0.005 +25.00% $12.0M 580.0k
MNC Metminco Ltd 0.005 +25.00% $2.4M 480.7k
MRV Moreton Resources Ltd 0.005 +25.00% $15.5M 69.0k
OVL Oro Verde Ltd 0.005 +25.00% $8.8M 5.0M
TMX Terrain Minerals Ltd 0.005 +25.00% $3.2M 100.0k
VAL Valor Resources Ltd 0.005 +25.00% $9.5M 351.4k
RHT Resonance Health Ltd 0.13 +23.81% $54.9M 3.5M
IMC Immuron Ltd 0.14 +21.74% $22.9M 739.3k
GMC Gulf Manganese Corp Ltd 0.006 +20.00% $29.5M 500.0k
IPT Impact Minerals Ltd 0.006 +20.00% $7.9M 300.0k
TPD Talon Petroleum Ltd 0.003 +20.00% $5.3M 2.8M
FTT Factor Therapeutics Ltd 0.0035 +16.67% $3.6M 100.0k
SER Strategic Energy Resources Ltd 0.007 +16.67% $6.7M 140.0k
SUD Suda Pharmaceuticals Ltd 0.0035 +16.67% $12.4M 1.6M

Going down

Great Western Exploration (ASX: GTE) suffered a major setback in a drilling program and it’s fallen 40 per cent today.

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday July 16:

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Code Name Price % Chg Market Cap Volume
GTE Great Western Exploration Ltd 0.003 -40.00% $3.8M 46.6M
CAD Caeneus Minerals Ltd 0.001 -33.33% $2.1M 190.0k
ANL Amani Gold Ltd 0.002 -33.33% $10.4M 984.0k
RIM Rimfire Pacific Mining NL 0.003 -25.00% $3.2M 346.2k
PCL Pancontinental Oil & Gas NL 0.0015 -25.00% $8.1M 10.0k
GLV Global Vanadium Ltd 0.0015 -25.00% $4.2M 4.6M
ANW Aus Tin Mining Ltd 0.006 -25.00% $13.1M 5.5M
IVQ Invitrocue Ltd 0.052 -24.29% $27.3M 401.8k
NAE New Age Exploration Ltd 0.004 -20.00% $3.6M 1.0M
EXO Ennox Group Ltd 0.002 -20.00% $3.5M 40.0k
EPM Eclipse Uranium Ltd 0.002 -20.00% $2.3M 250.0k
JRL Jindalee Resources Ltd 0.31 -19.48% $11.4M 2.0k
CRO Cirralto Ltd 0.009 -18.18% $5.9M 774.0k
ECT Environmental Clean Technologies 0.005 -16.67% $24.0M 187.8k
IEC Intra Energy Corp Ltd 0.013 -13.33% $5.0M 136.6k
AZM Azumah Resources Ltd 0.013 -13.33% $12.7M 3.8M
RES Resource Generation Ltd 0.1 -13.04% $58.1M 904.9k