Here are the key ASX small cap winners and losers at lunch Monday Sep 24:

The ASX Small Ords was down 9 points or 0.3 per cent to 2,826 at 12.30pm AEST.

GOING UP

Takeover talk has Capricorn Metals (ASX:CMM) shares were riding high this morning, up 55 per cent to an intraday — and 12-mont — high of 9.2c.

Capricorn confirmed today speculation from Mining News on Friday that it had received an offer from $2 billion miner Regis Resources (ASX:RRL).

The bid is for a scrip acquisition of Capricorn at 11.4 cps, valuing the company at $85.2 million.

Shares in cancer fighter Immutep (ASX:IMM) rose 10 per cent to 4.5c on Monday morning, the company’s highest point since rebranding from Prima BioMed last year, after it revealed it was collaborating with big pharma giants Merck and Pfizer.

The deal involves tests of Immutep’s drug candidate “eftilagimod alpha” — also known as IMP321 or just “efti”.

The two heavyweights will evaluate the combination of efti with an approved cancer drug called “avelumab” in patients with advanced tumours in a Phase I safety and efficacy trial.

Eden Innovations (ASX:EDE) shares are up 29 per cent to an intraday high of 4.5c after telling investors that its first US Govt-backed highway repair project was about to begin.

The company makes EdenCrete, a concrete additive, and approximately US$525,000 of it will be used in a highway repair project in the state of Georgia.

Australia’s newest listed pot stock Althea (ASX:AGH) has continued its bright start to life in the ASX, rising 31 per cent this morning to an intraday high of 73.5c — but may earn itself a speeding ticket as $4.8m worth of shares have traded hands, despite there being no news.

By the end of last week, Althea had tripled on its ASX debut, reaching 60c after being issued at 20c.

Here are the best performing ASX small cap stocks at 12.15pm Monday Sep 24:

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ASX code Company Price change today (12pm) Price (12pm) Volume Market Cap
NIU NIUMINCO GROUP L 1 0.2c 6M 2.7M
CMM CAPRICORN METALS 0.53 9c 500k 44.1M
MRD MOUNT RIDLEY MIN 0.5 0.3c 5M 3.8M
MOX MONAX MINING 0.5 0.3c 38k 1.8M
EUZ EUROPA METALS 0.5 0.3c 3M 13.9M
SXX SOUTHERN CROSS 0.33 0.8c 100k 6.5M
LNY LANEWAY RESOURCE 0.33 0.4c 144k 10.6M
AXT ARGO EXPLORATION 0.33 1.6c 105k 2.2M
AGH ALTHEA GROUP HOL 0.29 72.5c 3M 113.9M
EDE EDEN INNOVATIONS 0.29 4.5c 5M 51.4M
SER STRATEGIC ENERGY 0.25 0.5c 100k 3.5M
DDD 3D RESOURCES 0.25 0.5c 10k 4.0M
AUL AUSTAR GOLD 0.25 0.5c 300k 8.5M
SDL SUNDANCE RESOURC 0.2 0.6c 5M 45.7M
MED MERLIN DIAMONDS 0.2 0.6c 120k 16.5M
LRS LATIN RESOURCES 0.2 0.6c 4M 15.3M
EM1 EMERGE GAMING 0.2 1.2c 104k 5.9M
KMT KOPORE METALS 0.18 2.6c 360k 11.9M
VAL VALOR RESOURCES 0.17 0.7c 149k 11.0M
MRV MORETON RESOURCE 0.17 0.7c 100k 18.6M
GTE GREAT WESTERN EX 0.17 0.7c 357k 5.5M
DEG DE GREY MINING 0.16 16.8c 103k 52.7M
AVA AVA RISK GROUP L 0.16 22c 1M 40.1M
AXP AIRXPANDERS-CDI 0.15 11.5c 45k 55.8M
PNN PEPINNINI LITHIU 0.14 0.8c 4M 4.3M
MZN MARINDI METALS L 0.14 0.8c 500k 12.5M
CZN CORAZON MINING L 0.14 0.8c 323k 8.9M
AOA AUSMON RESOURCES 0.14 0.8c 1M 3.6M
AIS AERIS RESOURCES 0.14 32c 262k 128.2M
ODA ORCODA 0.13 18c 92k 14.3M

 

GOING DOWN

Pancontinental Oil and Gas (ASX:PCL) has lost all the gains it has made in the past month — and then some — after failing to find anything in a much-hyped offshore exploration well near Namibia.

“The Cormorant1 exploration well in PEL 37 offshore Namibia has reached a total measured depth of 3,855m and is to be plugged and abandoned as a dry hole,” Pancon told inevstors on Monday morning.

“The well has been efficiently drilled by operator Tullow Oil, reaching total depth on 21 September 2018, materially quicker than prognosed.”

The shares dropped 50 per cent to 0.4c on Monday after reaching a 12-month high of 1.1c last month.

Generic drugs maker Acrux (ASX:ACR) plummeted 24 per cent to an intraday low of 20.5c.

Acrux wants to make a generic version of a toenail fungus solution made by Valeant Pharma — renamed Bausch Health in May.

But Bausch subsidiary, Valeant Pharmaceuticals North America LLC, has launched a lawsuit against Acrux — and 13 other generic drug developers — to protect its patented drug.

“This action is expected and formally initiates the litigation process under the Hatch-Waxman Act,” Acrux told investors in an ASX announcement on Monday morning

Here are the worst performing ASX small cap stocks at 12.15pm Monday 24 September:

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ASX code Company Price change today (12pm) Price (12pm) Volume Market Cap
PCL PANCONTINENTAL -0.57 0.3c 59M 37.8M
DHR DARK HORSE RESOU -0.33 0,.8c 14M 23.1M
CCE CARNEGIE CLEAN E -0.25 0.9c 5M 34.6M
LML LINCOLN MINERALS -0.25 1.2c 31k 9.2M
ICG INCA MINERALS -0.2 0.4c 200k 13.9M
CYG COVENTRY GROUP -0.19 $1.10 6k 51.3M
ACR ACRUX -0.18 22.5c 947k 45.8M
AVD ANTILLES OIL AND -0.17 3c 132k 4.9M
ALT ANALYTICA -0.17 0.5c 230k 20.0M
TMP TECH MPIRE -0.15 5c 30k 5.2M
TNG TNG -0.15 11.5c 2M 112.3M
CPV CLEARVUE TECHNOL -0.15 46.5c 794k 52.8M
AUH AUSTCHINA HOLDIN -0.14 0.6c 418k 7.8M
AFR AFRICAN ENERGY -0.14 1.9c 116k 13.8M
WRM WHITE ROCK MINER -0.13 0.7c 5M 13.1M
VML VITAL METALS -0.13 0.7c 63k 13.9M
GBM GBM GOLD -0.13 0.7c 130k 8.9M
ABX AUSTRALIAN BAUXI -0.13 10.5c 190k 17.5M
FOD FOOD REVOLUTION -0.11 13.3c 1M 65.1M
WML WOOMERA MINING L -0.11 8c 20k 10.1M
OGA OCEAN GROWN ABAL -0.11 16c 55k 31.3M
KWR KINGWEST RESOURC -0.11 16c 25k 9.1M
PNX PNX METALS -0.11 0.8c 1M 12.2M
CYQ CYCLIQ GROUP -0.11 0.8c 104k 7.0M
CTM CENTAURUS METALS -0.11 0.8c 549k 20.7M
MHC MANHATTAN CORP -0.1 0.9c 238k 7.4M
DLC DELECTA -0.1 0.9c 396k 6.3M
CZR COZIRON RESOURCE -0.1 1.8c 1M 35.7M
CVV CARAVEL MINERALS -0.1 4.5c 10k 7.7M
TIN TNT MINES -0.1 18.5c 15k 6.3M