Here are the key ASX small cap winners and losers at lunch Wednesday December 19:

The ASX Small Ords was down 17 points, or 0.7 per cent, to 2,487.4 at 12.20pm AEDT.

GOING UP

Suda Pharmaceuticals (ASX:SUD) rose as much as 40 per cent this morning, hitting an intraday of 0.7c before settling at 0.6c, after it announced it had struck up a deal with a subsidiary of a $936 billion pharma company.

It told investors this morning that it had signed a 12-month deal with Mitsubishi Tanabe Singapore, a subsidiary of giant pharma company Mitsubishi Tanabe, for the licence and supply of its insomnia spray ZolpiMist in Singapore, Malaysia and the Philippines, with options to extend it to Thailand, Indonesia, Vietnam, Laos, Myanmar, Cambodia and Brunei.

Alara Resources (ASX:AUQ) saw its share price rise 30 per cent to 2.6c after executing a share sale and purchase agreement with a member of the Al Tasnim Group, an Omani construction and infrastructure business.

The company, through its subsidiary Alara Oman, has agreed to sell 19 per cent of its 70 per cent shareholding in joint venture company Al Hadeetha Resources for $10.7m.

Shares in Authorised Investment Fund (ASX:AIY) are on the move, up 25 per cent to 4c after it announced yesterday that one of its investee companies had launched Travel Elite in China, tapping into the US$258 billion outbound tourism market.

China is the world’s top spender on outbound tourism market, AIY says. “We believe that AIY shareholders will no doubt be very excited by this new development,” cosec Cathy Lin said.

Davenport Resources (ASX:DAV) shares were on the rise Wednesday morning after the company updated investors on the “significant progress” it had made over the course of 2018.

Shares shot up 25 per cent to 10c.

“We have planned a further set of aggressive targets for 2019, which we intend to deliver. This includes drilling one or possibly two holes in our licence areas in order to upgrade the current JORC inferred resources to the higher indicated level,” chairman Patrick McManus said.

JORC refers to the mining industry’s official code for reporting exploration results, mineral resources and ore reserves, managed by the Australasian Joint Ore Reserves Committee.

Mineral resources are categorised in order of increasing geological confidence as inferred, indicated or measured.

Here are the best performing ASX small cap stocks at 12.15pm Wednesday December 19:

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ASX Code Name Intraday price change Price 12:15pm Volume Market cap
AUL Austar Gold 0.33 0.4c 1,725,000 $10.2m
AGE Alligator Resources 0.33 0.4c 340,000 $3m
PRZ ParaZero 0.33 16c 40,000 $6.3m
AUQ Alara Resources 0.3 2.6c 494,657 $12.6m
AIY Authorised Investment Fund 0.25 4c 1,592,857 $12.8m
DAV Davenport Resources 0.25 10c 110,000 $5.7m
AAJ Aruma Resources 0.2 0.6c 340,482 $2.6m
SUD Suda Pharmaceuticals 0.2 0.6c 18,056,621 $12.9m
EVE Eve Investments 0.2 0.6c 500,000 $11.4m
CFE Cape Lambert Resources 0.2 1.8c 856,911 $15.2m

 

GOING DOWN

Australian Vanadium (ASX:AVL) lost 21 per cent of its share price value, falling to an intraday low of 2.2c.

That was despite the release of pre-feasibility study results.

The proposed open pit mining operation is expected to produce 900,000 tonnes of 1.4 per cent vanadium pentoxide (V2O5) magnetite concentrate each year.

The PFS forecasts the mine, which has an initial life of 17 years, will cost $US354m to build and have a net present value of between $US125m and $US1.4 billion depending on the vanadium price.

NPV is used to assess the profitability of a project. The higher the NPV, the more profitable a project will be.

Australian Vanadium says Gabanintha will have operate at an average cost of $US4.15 per pound of V2O5, making it competitive with the world’s lowest cost producers.

“By completing this PFS on Gabanintha we have taken a major step towards bringing our world class project into production,” managing director Vincent Algar said.

“Announcing a maiden ore reserve is a key milestone and further embeds the project’s low risk mineral resource and strong economic potential.

“The PFS includes detail that allows us to understand and design a long-life, low-cost vanadium pentoxide and cobalt concentrate production facility. Given the cyclical nature of the vanadium markets, it’s essential that all technical aspects are well understood and the capital and operating costs minimised.”

Here are the worst performing ASX small cap stocks at 12.15pm Wednesday December 19:

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ASX Code Name Intraday price change Price 12:15pm Volume Market cap
SRO Shareroot -0.33 0.2c 500,000 $4.7m
XPE Xped -0.33 0.2c 50,000 $4.5m
LRS Latin Resources -0.25 0.3c 2,291,616 $11.1m
VAL Valor Resources -0.25 0.3c 19,084,685 $7.6m
CM1 Coolgardie Minerals -0.22 4.7c 819,866 $5m
MHC Manhattan Corp -0.2 0.4c 1,860,089 $3.7m
PMY Pacifico Minerals -0.2 0.4c 21,003,764 $8.2m
VEN Vintage Energy -0.18 13.5c 5,000 $31.8m
CXZ Connexion Media -0.17 1c 1,937,288 $10.1m
MZN Marindi Metals -0.17 0.5c 151,000 $11.9m