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Here are the key ASX small cap winners and losers at lunch Tue Oct 23:

The ASX Small Ords index was down 0.7 per cent or 18 points to 2668 by 12.40pm AEST.

GOING UP

Cannabis stock eSense-Lab (ASX:ESE) surged almost 50 per cent to 8.9c in early Tuesday trade after signing a “commercial supply agreement for the supply of terpenes to UK-based E-Quits Group”.

eSense uses synthetic “terpenes” — a kind of organic, fragrant oil — to develop plant-based products with applications such as medicines, ointments, food, drinks and cosmetics. eSense is working with terpenes that mimic the distinctive aroma of cannabis.

E-Quits Group will buy eSense’s “Super Lemon Haze Mix” for use in products such as “e-liquid” which is smoked in in electronic cigarettes.

“The supply agreement culminates a long successful testing period and expands the opportunities for use of our terpenes in a variety of industry sectors,” said eSense’s CEO Haim Cohen.

Resonance Health (ASX:RHT) has doubled in price over the past two weeks on no news.

This morning the stock jumped 38 per cent to 4.1 per cent before going into a trading halt. More than $700,000 worth of shares traded this morning.

“Trading in the securities of the entity will be temporarily paused pending a further announcement,” the company told inveastors at 11.30am AEST.

Semen separator Memphasys (ASX:MEM) continued swimming ahead this morning, gaining another 25 per cent to 6.4c.

The stock has now more than tripled in the past week — attracting an ASX query along the way.

Memphasys is developing a membrane codenamed Felix that separates quick swimmers from flabby floaters to improve IVF procedures.

On Monday Memphasys told investors it had “entered a pivotal stage in the commercial development” of Felix, signing “the first of a number of leading international andrology and IVF clinics as partners to conduct invitro [or test tube] assessments”.

Memphasys is hoping for European regulatory approval in late 2019 which would allow for human trials.

Pegasus Metals (ASX:PUN) moved ahead 36 per cent to 1.9c after reporting positive drilling results at its “Dablo” palladium, platinum, gold, nickel and copper project in Burkina Faso, Africa.

Here are the best performing ASX small cap stocks at 12.15pm Tue Oct 23:

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

ASX codeCompanyPrice change today (12.15pm)Price (12.15pm)Volume
RHTResonance Health41%4.1c18,493,046
ESEeSense37%8.6c9,303,036
PUNPegasus Metals36%1.9c250,000
GGXGas2grid25%0.5c574,720
PDIPredictive Discovery23%1.6c155,973
ELTElementos20%0.6c2,084,862
POHPhosphagenics20%2.4c1,810,021
ENXEnegex20%1.8c25,000
JDRJadar Lithium20%1.2c900,000
MEMMemphasys20%6.1c16,066

 

GOING DOWN

Zinc explorer Inca Minerals (ASX:ICG) sank 25 per cent today after telling investors it’s changing tack and looking at other commodities including vanadium, cobalt, nickel and phosphate.

The shares dropped to 0.3c. Inca has traded between 1c and 0.3c over the past year.

The company is in the process of bringing in partners for its base metals projects to free it up to consider other project buys.

“The board has been particularly interested in commodities with an attractive supply-demand equation, and global regions with acceptable sovereign risk,” Inca said.

“As a consequence, and being mindful of the global appetite for resources, the board has recently refined its strategy to consider new and additional projects with commodities such as vanadium, cobalt, nickel and phosphate.”

Here are the worst performing ASX small cap stocks at 12.15pm Tue Oct 23:

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

ASX codeCompanyPrice change today (12.15pm)Price (12.15pm)Volume
BDIBlina Minerals-50%0.1c250,000
PCHProperty Connect-50%0.1c450,000
WPPWPP-34%52.5c3,094,041
WGLWangle-33%0.2c200,000
ICGInca-25%0.3c2,131,395
MNCMetminco-25%0.3c337,500
UBNUrbanise-23%2.3c71,453
WMLWoomera-22%8.6c23,100
BKPBaraka-20%0.4c22,819,015
LMLLincoln-20%0.8c648,750