Here are the key ASX small cap winners and losers at lunch Friday Aug 17.

The ASX Small Ords was up 17 points or 0.6 per cent to 2,832.3 at 12.45pm AEST.

GOING UP

Merger and acquisition activity continues to heat up in the small cap scene.

Today two miners, Kangaroo Resources (ASX:KRL) and Nkwe Platinum (ASX:NKP), are rocketing after receiving all-cash takeover offers.

Kangaroo hit its highest point in six years this morning, bounding up 52 per cent to an intraday high of 13.5c, after closing at 8.9c yesterday.

The $305 million company is recommending its shareholders approve a 15c-per-share cash offer from PT Bayan Resources which already owns 56.05 per cent.

The tie-up is subject to approval by an Australian court and an independent expert.

Meanwhile, Nkwe rose 37 per cent to an intraday high of 9.5c after reaching an agreement with China’s Zijin Mining Group, which already owns 60.47 per cent. The all-cash takeover offer is 25 per cent higher than its initial bid.

Nkwe has been in talks with Zijin since March, when the suitor tabled an 8c-per-share offer that sent shares up 140 per cent.

Perth-based oil and gas explorer Tap Oil (ASX:TAP) also has received a new takeover bid — though its board is backing an earlier, increased offer from Singapore shareholder Risco Energy.

Baraka Energy (ASX:BKR) got a 20 per cent bump to 0.6c following the company’s first update since its newly-appointed board of directors met.

The company renewed its commitment to vanadium, saying that it had begun reviewing “a number of advanced and early stage resource projects that it believes will complement and enhance Baraka’s position in the vanadium sector”.

Asset identification and security play Kollakorn Group (ASX:KKL) was up 20 per cent to an intraday high of 1.2c after it announced a deal with the CSIRO to co-develop CertainID, technology that enables biometric authentication for people sending information over the internet.

It was good news for the $1.9 million company, whose share price has lost 82 per cent of its value in the past 12 months.

Here are the best performing ASX small cap stocks at 12.45pm Friday, Aug 17:

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ASX code Company Today's change (12.30pm AEST) Price (12.30pm) Volume Market Cap
VPR VOLT POWER GROUP 0.5 0.003 2M 20.6M
OEX OILEX 0.5 0.003 251k 4.0M
LKO LAKES OIL 0.5 0.003 250k 57.6M
KRL KANGAROO RESOURC 0.404494382022 0.125 15M 305.7M
BKP BARAKA ENERGY 0.4 0.007 26M 13.5M
MAR MALACHITE RES 0.333333333333 0.004 130k 4.1M
IKW IKWEZI MINING 0.333333333333 0.004 109 3.0M
NKP NKWE PLATINUM 0.314285714286 0.092 4M 62.7M
FAU FIRST AU LTD 0.304347826087 0.03 250k 6.0M
MQR MARQUEE RESOURCE 0.258064516129 0.195 48k 6.6M
ICG INCA MINERALS 0.25 0.005 573 10.5M
HCO HYLEA METALS 0.25 0.005 301k 12.6M
GPP GREENPOWER ENERG 0.25 0.005 2M 5.8M
EPM ECLIPSE METALS 0.25 0.005 1M 5.2M
CGM COUGAR METALS 0.25 0.005 848k 3.7M
ADV ARDIDEN 0.222222222222 0.011 330k 15.1M
SRO SHAREROOT 0.2 0.006 929k 6.7M
KKL KOLLAKORN CORP 0.2 0.012 100k 1.9M
MBM MOBECOM 0.192307692308 0.155 55k 23.2M
VLT VAULT INTELLIGEN 0.181818181818 0.026 549k 19.0M
NVO NVOI 0.181818181818 0.013 536k 4.6M
ARM AURORA MINERALS 0.166666666667 0.035 37k 3.5M
RNX RENEGADE EXPLORA 0.166666666667 0.007 854k 4.3M
PNX PNX METALS 0.166666666667 0.007 1M 8.1M
KPO KALINA POWER 0.166666666667 0.028 300k 10.6M
ADN ANDROMEDA METALS 0.166666666667 0.007 76k 6.5M
IAU INTREPID MINES 0.164383561644 0.85 938 10.1M
SOR STRATEGIC ELEMEN 0.161290322581 0.036 5 7.5M
AWN AROWANA INTERNAT 0.16 0.29 76k 39.5M
KKT KONEKT 0.15625 0.37 62k 33.7M

GOING DOWN

Shares in Calima Energy (ASX:CE1) moved down 12 per cent to 5.8c, towards the 5.4c at which it sold 463 million shares in a $25 million placement from sophisticated and professional investors.

Earlier this year shares in the company shot up as it took over joint venture partners TSV Montney and TMK Montney.

Here are the worst performing ASX small cap stocks at 12.45pm Friday, Aug 17:

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ASX code Company Today's change (12.30pm AEST) Price (12.30pm) Volume Market Cap
WCN WHITE CLIFF MINE -0.5 0.001 4M 5.8M
BDI BLINA MINERALS -0.5 0.001 2M 6.5M
AHN ATHENA RESOURCES -0.275862068966 0.021 150k 6.3M
XPE XPED -0.25 0.003 29 6.0M
IVO INVIGOR GROUP -0.25 0.003 150k 5.0M
GGE GRAND GULF ENERG -0.25 0.003 200k 3.1M
BAS BASS OIL -0.25 0.003 100k 10.4M
VKA VIKING MINES -0.2 0.02 20k 7.8M
WBE WHITEBARK ENERGY -0.2 0.004 100k 5.4M
S3R SERPENTINE TECHN -0.2 0.004 4 3.6M
LCY LEGACY IRON ORE -0.2 0.004 1k 7.3M
JKA JACKA RESOURCES -0.2 0.004 456k 3.8M
EER EAST ENERGY RESO -0.2 0.004 200k 16.0M
HDY HARDEY RESOURCES -0.166666666667 0.005 183k 8.2M
EXO ENNOX GROUP -0.166666666667 0.005 4M 10.6M
EFE EASTERN IRON -0.125 0.007 4M 3.3M
CE1 CALIMA ENERGY -0.121212121212 0.058 4M 63.3M
FNT FRONTIER RESOURC -0.117647058824 0.015 34k 8.3M
AGR AGUIA RESOURCES -0.117647058824 0.15 125k 22.4M
DEM DE.MEM -0.107142857143 0.125 20k 15.1M
ITD ITL HEALTH GROUP -0.105263157895 0.17 5k 16.3M
TNY TINYBEANS GROUP -0.101265822785 0.355 87k 12.9M
RIM RIMFIRE PAC MNG -0.1 0.009 100k 9.4M
CYQ CYCLIQ GROUP -0.1 0.009 180k 7.8M
AAJ ARUMA RESOURCES -0.1 0.009 3M 5.1M
GAS STATE GAS -0.0909090909091 0.2 5k 29.7M
AWY AUSTRALIAN WHISK -0.0909090909091 0.04 30k 58.9M
SND SAUNDERS INTERNA -0.0888888888889 0.41 8 47.1M