Lunchtime ASX small cap wrap: who’s laughing so far today

Link copied to
clipboard

Here are the key ASX small cap winners and losers at lunchtime Tuesday, Jul 31:

The ASX Small Ords was down 12 points or 0.4 per cent at 2833 by 1pm AEST.

GOING UP

Texas-focused oil and gas junior Winchester Energy (ASX:WEL) leapt 165 per cent today after telling investors it would “aggressively pursue” potential partners to help with drilling via a farm-out agreement due in the September quarter.

A farm-out usually involves a written agreement under which an owner sells an interest in a mining tenement in exchange for exploration work.

Winchester hopes drilling could start “prior to the end of the [September] quarter”.

Winchester today reported negative operating cashflow of $US359,000 leaving $US1.1 million in the bank and plans to spend $US430,000 this quarter.

The shares jumped from 1.7c to 4.5c by midday.

Blockchain video play Linius Technologies (ASX:LNU) jumped 17 per cent to an intraday high of 8.8c after signing up with a news service that’s building a personalised version of CNN.

Linius is developing a technology it calls a “Video Virtualization Engine” that inserts and tracks data in video streams.

Under the deal, Linius will work with Swedish start-up Newstag to deliver what it calls “hyper-personalised” video news reports relevant only to viewers interested in a particular topic.

Two-year-old Newstag lets news viewers create their own “personalised CNN” by matching their interests with tagged news reports from the likes of CNN and Bloomberg.

The stock cooled to 8.2c by 11.45am AEST, with $746,000 worth of shares changing hands.

Organic infant formula maker Bubs Australia (ASX:BUB) climbed 7 per cent to an intraday high of 78c after reporting a 531 per cent jump in quarterly gross sales as demand took off in China.

The shares cooled to 73.5c at 10.50AM AEST, valuing the business at about $290 million.

More than $2.7 million worth of stock was bought and sold.

“During the quarter, we saw a strong growth trend with material uplift in infant formula and overall sales to China delivering our highest quarterly revenues,” says Bubs founder Kristy Carr.

• Subscribe to our daily newsletter
• Bookmark this link for small cap news
• Join our small cap Facebook group
• Follow us on Facebook or Twitter

Email backup provider Dropsuite (ASX:DSE) continued its upward trajectory, gaining 26 per cent today on the back of higher customer numbers and cash receipts.

Earlier this month the stock was boosted by as much as 40 per cent after telling investors it had netted 100,000 new paid users over a three-week period thanks to an “extensive marketing campaign”.

This week paid user numbers hit 600,000 — up 50 per cent since DropSuite hit 400,000 on July 5.

Customer receipts came in at $1 million for the quarter compared to $700,000 in March. Cash-burn fell to $225,000 from $465,000.

Here are the best performing ASX small cap stocks at 12.30pm Tuesday, July 31:

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

GOING DOWN

Hair-loss fixer Cellmid (ASX:CDY) fell 16 per cent to an intraday low of 38.5c on news of a $9 million placement.

The offer was priced at 38c — and it will now seek another $1 million via a share purchase plan offered to individual shareholders.

The total of $10 million is down from its original ambition of seeking as much as $12 million to fund its new product rollout.

Here are the worst performing ASX small cap stocks at 12.30pm Tuesday, July 31:

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

share

• 
• 
• 
• 

Link copied to
clipboard

SUBSCRIBE

Get the latest Stockhead news delivered free to your inbox.

Name*

Email*

Hidden

Email Lists

Morning Update

Lunch Update

Market Close Update

Weekend Update

It's free. Unsubscribe whenever you want.

By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.