Lunchtime ASX small cap wrap: who’s kissing trophies

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Here are the key ASX small cap winners and losers at lunch Monday, Sep 10:

The ASX Small Ords was down 0.8 points or 0.01 per cent to 2,803.4 at 12.30pm AEST.

GOING UP

Junior gold explorer Explaurum (ASX:EXU) jumped 49 per cent this morning to an intraday high of 11c after it received a takeover offer from fellow gold miner Ramelius Resources (ASX:RMS).

The offer equates to 12.3c per share, valuing Explaurum at roughly $59.2 million.

Explaurum’s Tampia Hill project is about 130km from Ramelius’s Edna May mine.

Ramelius believes there could be operational and capital cost synergies between the two operations, and the addition of the Tampia Hill project to its portfolio would maintain its exposure to ongoing exploration potential.

Takeover talk also sent shares in Spookfish (ASX:SFI) flying this morning. The aerial snapper’s stock rose 13 per cent to an intraday high of 8.5c on news that US peer EagleView had increased its offer by 1c.

About six weeks ago Spookfish announced it had received an 8c offer from EagleView, and EagleView increased that to 9c this morning.

The new 9c offer, however, is a $113 million bid as Spookfish has issued 4.9 million new shares in the past month thanks to options being exercised and performance rights being converted.

Novita Healthcare (ASX:NHL) is up 27 per cent to an intraday high of 4.2c, after telling investors this morning it had received classification from the FDA for its TALI Train product.

TALI Train is a game-based learning program used to treat childhood difficulties.  The classification means the product can now be launched in the US market without requirement of further clinical trials.

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Consolidated Zinc (ASX:CZL) continued its recent run on the ASX, up 20 per cent to an intraday high today of 1.8c, its highest point in nearly a year, before settling back down to 1.6c by lunch.

The company had a strong week last week, jumping 87 per cent to 1.5c, after announcing it had started mining at its Plomosas zinc, lead and silver site in northern Mexico.

Today’s rise was on the back of news that director Stephen Copulos had bought 10 million shares at over $143,000.

Here are the best performing ASX small cap stocks at 12.15pm Monday, Sep 10:

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

GOING DOWN

Disappointing drilling results from the Kurnalpi nickel project in WA sent Mithril Resources (ASX:MTH) shares down 23 per cent to an intraday low of 1c.

Three holes drilled at the northern end of the project found no significant nickel; although the main nickel sulphide target was not reached due to unfavourable ground conditions.  

Here are the worst performing ASX small cap stocks at 12.15pm Monday, Sep 10:

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

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