Lunchtime ASX small cap wrap: Who’s got some awkward questions to answer?
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Good afternoon. Here are all the big winners and losers so far today in the land of ASX small caps.
First – if you thought that was Arnold Schwarzenegger you passed on the way to work this morning, you were probably right:
Speaking of a leisurely morning ride, the ASX Small Ords ambled towards midday and by 12pm AEST it had edged lower to 2791.60, a fall of 0.17%.
Here’s the state of play at lunch Tuesday, March 19:
As is often the case, many of the big moves higher in percentage terms this morning were seen among the mining minnows.
Results showed Austpac Resources (ASX: APG) jumped by 50 per cent to 0.2 cents, after receiving an $803,000 cash injection from a China-based company to complete testing for its zinc-iron recovery process.
Dateline Resources (ASX:DTR) jumped by the same amount to 0.3 cents a share, one day after a bunch of shares changed hands among directors and substantial holders.
Elsewhere, satellite manufacturer Beam Communications (ASX:BCC) jumped almost 30 per cent to 22 cents per share following an investor presentation this morning.
The company makes narrow-band satellites for global corporate supply chains and the Internet of Things, and counts former Netcomm CEO David Stewart as a major shareholder.
Here are the best performing ASX small cap stocks at 12pm on Tuesday, March 19:
If you have any investments in tiny, minnow explorers in mining and energy, then it may be worth checking the boards to ensure you avoided any bad news.
All eight of the biggest losers in morning trade had a market cap of less than $10 million, and seven of them were in those two sectors (struggling financial services firm Intiger Group (ASX: IAM) was the lone exception).
Among the bigger players dragging the chain, $450m concrete company Wagners Holding Co Ltd (ASX: WGN) was down more than 16 per cent, a day after announcing a pricing dispute in a contract with Boral.
Here are the worst performing ASX small cap stocks at 12.00pm on Tuesday, March 19: