Here are the key ASX small cap winners and losers at lunch on Wednesday 21 November:

There has been yet another fall in Australian markets after a global sell-off in overseas markets. The ASX All Ords was down 68.4 points, or 1.2 per cent, to 5,690.8 at 12.20pm AEST, while the ASX Small Ords had also taken a beating, down 48.2 points, or 2pc, to 2,511.7. At one point it hit a year-low of 2,501.6.

GOING UP

Iconic Aussie discount retailer The Reject Shop (ASX:TRS) saw its shares rise to a high of $2.86 after it received a takeover offer from a party with ties to late Visy chairman Richard Pratt.

The Reject Shop (ASX:TRS), worth $70.3 million, today told its shareholders to take no action on an offer from a group called Allensford, which is pitching $2.70 per The Reject Shop share — at least for the time being.

Reject Shop chairman William Stevens said the offer was “somewhat opportunistic” but that he and the board would take time to consider it.

Graphite play Metals Australia (ASX:MLS) has proved it has very high grade zones of natural flake graphite at the surface of its Quebec project.

Investors liked the news, sending the share price up almost 17 per cent to 0.4c.

At the Lac Rainy project in Quebec, Canada, a sampling program returned results including 20.4m at an average grade of 15.6 per cent total carbon-within-graphite (Cg), including 4.5 metres at an average grade of 20 per cent Cg.

Syntonic (ASX:SYT) shares rose 22 per cent to an intraday high of 1.1c after it released an update on its mobile operator progress.

“Q1 FY19 was a turning point for the company as it started to receive robust and diversified revenue streams from multiple sources,” chief Gary Greenbaum said.

The hard work in fiscal 2018 is now paying off with mobile operator deployments in South America, Asia, Middle East and Sub-Saharan Africa

Shares in Antipa Minerals (ASX:AZY) rose 12 per cent to an intraday high of 3c, continuing momentum after announcing yesterday that it had started a survey in Western Australia.

Antipa told investors yesterday about the commencement of an airborne electromagnetic survey at its Citadel Project as part  of  the  $60M  farm‐in  by  Rio  Tinto.

Here are the best performing ASX small cap stocks at 12.30pm Wednesday 21 November: 

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ASX code Company Today's price change (12.15pm AEDT) Price Nov 19 (12.15pm ) Volume Market Cap
EMP Emperor Energy 50% 0.3c 11,449,452 $1.8m
REV Real Estate Investar Group 37% 1.5c 200,000 $1.3m
CGM Cougar Metals 33% 0.4c 225,000 $2.9m
RXH Rewardle Holdings 25% 0.5c 100,000 $1.4m
RNY RNY Property Trust 25% 0.5c 15,000 $1.1m
SYT Syntonic 22% 1.1c 2,922,066 $25m
PMY Pacifico Minerals 20% 0.6c 125,000 $6.8m
NGY Nuenergy Gas 20% 3.6c 100,000 $44.4m
PYG PayGroup 20% 72c 202,241 $31m
SBI Sterling Plantations 18% 1.3c 26,378 $710k

 

GOING DOWN

Was a change in telephone number enough to make Sundance Energy (ASX:SEA) shares fall 10 per cent today to 5.7c?

That was the only announcement released by the company today, but it’s much more likely due to the third quarter earnings that the company released late last week.

Here are the worst performing ASX small cap stocks at 12.30pm Wednesday 21 November: 

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ASX code Company Today's price change (12.15pm AEDT) Price Nov 19 (12.15pm ) Volume Market Cap
LKO Lakes Oil -50% 0.1c 1,650,000 $60.6m
PCH Property Connect -50% 0.1c 7,986,050 $2.4m
POH Phosphagenics -33% 0.2c 3,910,000 $4.7m
GLA Gladiator Resources -33% 0.2c 166,667 $3m
DDD 3D Resources -25% 0.3c 1,800,000 $3.7m
SRO Shareroot -25% 0.3c 2,000,000 $5.3m
BOC Bougainville Copper -24% 14.5c 8,741 $76.2m
SCI Silver City Minerals -21% 1.1c 2,461,216 $3.5m
KGD Kula Gold -21% 1.9c 39,184 $9m
G88 Golden Mile Resources -17% 12c 40,316 $5.9m