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Here are the key ASX small cap winners and losers at lunchtime Tuesday June 12.

The ASX Small Ords hit a new seven-year high today of 2,868.6. It was up 6 points at 2,858.9 at 12.50pm AEST.

MOST TRADED

Atlas Iron (ASX:AGO) was the most traded small cap on the ASX today after much larger rival Fortescue Metals Group (ASX:FMG) took a further 15 per cent chunk of the struggling junior iron ore producer – raising its stake to 19.9 per cent.

The shares dropped 5 per cent to 3.8c by 1pm AEST.

The move is part of an attempt to block Mineral Resources’s (ASX:MIN) “friendly” takeover of Atlas.

While Fortescue is not commenting further on the matter, UBS analyst Glyn Lawcock believes Fortescue’s motivation is Atlas’s 63 per cent stake in the 50 million tonne per annum export facility being built in Port Hedland.

GOING UP

Marindi Metals (ASX:MZN) jumped 33 per cent to 1.6c after finding six ounces of gold nuggets at its Bellary Dome conglomerate gold project in Western Australia’s Pilbara region.

The company told investors today they are just like the ones found by Artemis Resources (ASX:ARV) and Canadian partner Novo Resources at their projects in the Pilbara.

“The stratigraphic position of the conglomerates within the Bellary Dome project is similar to the gold-bearing horizon at the Comet Well/Purdy’s Reward projects – that is, a sequence of conglomerates and other sediments directly above Archaean basement and below the Mt Roe Basalts,” boss Simon Lawson said.

Adriatic Metals (ASX:ADT) gained 25 per cent to 25c in early Tuesday trade after positive results from initial drilling at its Vares project in Bosnia & Herzegovina.

The drilling had delivered a “combination of highest grade and thickest intercept to-date” including 64 metres at 4.6 grams of gold per tonne, 537g/t of silver and 10.8% of zinc.

Adriatic’s CEO Geraint Harris said the “exciting” results were “some of the highest grade polymetallic results on the ASX” and “had the potential to add significant tonnes to any future resource”.

Talent quest host MSM Corp (ASX:MSM) moved ahead 25 per cent today after telling shareholders it was “reducing costs and expanding reach”.

MSM last month raised the curtain on a move into cryptocurrency-style digital tokens and talent management – after emerging from a four-month ASX suspension.

It’s also working on an Indian lauch of its online “Megastar” talent search quest which will bring in a minimum of $US500,000 per year plus 15 per cent of any profits under a joint venture agreement.

MSM said it had just closed a successful capital raising of $3.6 million.

Here’s a snapshot of the best performing ASX small caps at 12.30pm AEST Monday Jun 12.

Swipe or scroll for full table. Click headings to sort data:

ASX codeCompanyPrice change today (12.30pm AEST)Price (Tue 12.30pm AESTR)Market CapVolume
MEMMEMPHASYS10.0025.1M29M
VPRVOLT POWER GROUP0.50.00320.6M5M
NIUNIUMINCO GROUP L0.50.0036.0M21M
MNBMINBOS RESOURCES0.50.00310.6M9M
LNYLANEWAY RESOURCE0.50.0038.4M8M
JKAJACKA RESOURCES0.50.0031.9M403k
AIYAUTHORISED INVES0.3750.06610.6M438k
SMASMARTTRANS HLDS0.3333333333330.00419.7M500k
MDXMINDAX0.3333333333330.0084.4M63k
SROSHAREROOT0.250.0055.5M900k
S3RSERPENTINE TECHN0.250.0052.9M13M
RRSRANGE RESOURCES0.250.00530.4M3M
HDYHARDEY RESOURCES0.250.0056.1M2M
DDD3D RESOURCES0.250.0053.3M9M
CLZCLASSIC MINERALS0.250.0056.9M1M
RVYRIFT VALLEY RESO0.20.02415.8M308k
DW8DAWINE0.20.0062.9M1M
CTMCENTAURUS METALS0.20.01223.0M33M
ADTADRIATIC MET-CDI0.1794871794870.2325.5M2M
MZNMARINDI METALS L0.08333333333330.01321.4M16M
MSMMSM CORPORATION0.08333333333330.02610.3M696k
CLVCLOVER CORP0.04834437086091.583249.4M81k
A3DAURORA LABS0.04464285714290.58536.6M22k
LITLITHIUM AUSTRALI0.040.1352.6M258k

GOING DOWN

Rex Minerals (ASX:RXM) fell 26 per cent to 12.5c after announcing it had completed a $6 million placement at 11c.

Rex is issuing 54.5 million new shares at 11c — a 35 per cent discount to last week’s closing price.

It now plans to “invite existing shareholders to invest in the company through a Share Purchase Plan at the placement price of 11c per share”.

AVZ Minerals (ASX:AVZ) continues to be sold down after chairman Klaus Eckhof offloaded 32.5 million shares over three days last week.

The news sent the share price of the Congo-focused lithium explorer down more than 42 per cent last Thursday.

AVZ shares were down another 7 per cent to 9.8c today compared to a 52-week high of 37c.

Here’s a snapshot of the best performing ASX small caps at 12.30pm AEST Monday Jun 12.

Swipe or scroll for full table. Click headings to sort data:

ASX codeCompanyPrice change todayPrice Jun 12 (12.30pm AEST)Market CapVolume
OEXOILEX-0.250.0038.0M2M
NWENORWEST ENERGY-0.250.00313.5M331k
AYMAUSTRALIA UNITED-0.250.0035.1M114k
RXMREX MINERALS-0.2352941176470.1337.5M602k
BHLBOYUAN HOLDINGS-0.2068965517240.46199.0M23k
SLXSILEX SYSTEMS-0.2037037037040.21546.0M1M
TKFTIKFORCE-0.20.004969.3k2M
SURSUN RESOURCES NL-0.20.0043.8M500k
NSENEW STANDARD ENE-0.20.0043.6M530k
LCYLEGACY IRON ORE-0.20.0047.3M200k
SBRSABRE RES-0.20.0125.5M62k
RWDREWARD MINERALS-0.1891891891890.1525.1M174k
TNYTINYBEANS GROUP-0.1750.49515.7M12k
FYIFYI RESOURCES LT-0.160.10523.2M295k
TZLTZ-0.150.1714.1M280
NSLNSL CONSOLIDATED-0.1428571428570.01245.5M2M
ALTANALYTICA-0.1428571428570.00621.2M621k
GLEGLG CORP-0.1351351351350.1613.7M11k
NMLNAVARRE MINERALS-0.1304347826090.0620.3M187k
AVZAVZ MINERALS-0.06666666666670.098196.2M30M