Lunchtime ASX small cap wrap: who’s landing punches today
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Here are the key ASX small cap winners and losers at lunchtime Monday June 18.
The ASX Small Ords index started the week flat, down five points or 0.19 per cent at 2874 by 12:30pm AEST.
Gold and nickel miner Sipa Resources (ASX:SRI) was the most heavily traded small cap stock on the ASX as the week kicked off — despite no news in the market.
More than 52 million shares changed hands in early trade, pushing the stock as much as 18 per cent to 1.4c.
The stock also saw a spike in trading activity last week when the company announced a substantial shareholder had moved up to hold 12 million shares.
AVZ Minerals (ASX:AVZ) also saw plenty of activity this morning, with shares up as much as 6.7 per cent. The stock hit a high of 9.7c in early trade after the company outlined plans to release the first lithium resource for its Congo project next month.
The company has completed 12,500m of its 20,000m drilling program at the Manono project, but says it doesn’t need to complete the entire program before it can release the maiden source.
Havilah Resources (ASX:HAV) bounced 28.5 per cent this morning, hitting an intra-day high of 27c on news of a maiden ore reserve of 1.41 million ounces of gold and 474,000 tonnes of copper at its Kalkaroo project in South Australia.
Havila reckons its the biggest undeveloped copper and gold deposit in Australia.
Proteomics (ASX:PIQ) gained as much 22 per cent in early in the day, with an intra-day high of 22c after announcing a second international distribution deal in a matter of weeks.
Proteomics — which makes a predictive test for diabetic kidney disease called PromarkerD — is taking the product to Mexico, where diabetes is the second biggest killer.
Just weeks ago the microcap biotech announced a partnership with US diagnostics business PrismHealth to bring the test to US patients.
Homebuilder Simonds Group (ASX:SIO) also kicked off the week with some momentum, gaining as much as 30 per cent this morning when shares hit an intra-day high of 38.5c.
The construction business told investors it anticipates full-year EBITDA earnings of $13.2 million to $14.9 million in August — up from $10.1 million last year.
The business says site builds will hit 2,500 this year — more than 100 since last year’s outputs.
Here’s a snapshot of the best-performing ASX small caps at 12.30pm AEST on Monday, June 18:
Oil explorer and producer 88 Energy (ASX:88E) lost as much as 23.5 per cent in the first hours of Monday, with an intraday low of 26c after investors were given an update on its North Alaskan Icewine site.
Here’s a snapshot of the worst performing ASX small caps at 1pm AEST on Monday, June 18: