Liam Smedley ahead of the 2018 ICF Canoe Slalom World Cup Final in Spain. Pic: David Ramos/Getty Images

Here are the key ASX small cap winners and losers at lunch Friday, Sep 7:

The ASX Small Ords has fallen to its lowest level since May. It was down another 20 points or 0.7 per cent this morning to 2791 at 1pm AEST.

GOING UP

Property investor Desane Group (ASX:DGH) rose 34 per cent to an intraday high of $1.45 this morning after it announced the sale of a Sydney property to the Roads and Maritime Service (RMS).

It has been quite the saga. Back in August last year, the RMS offered $18.4 million, market value, for the compulsory acquisition of the property. But Desane wanted $100 million in compensation and took it to the Supreme Court. Its chairman Professor John Sheehan told Stockhead at the time that they’d happened to pick a fight with a property rights expert.

The matter has finally been resolved, with the RMS paying $78 million for the property. Prof Sheehan told investors he considered the matter finalised.

“Shareholders can be satisfied that the sale of the property by agreement represents fair market value for the site,” he said.

“The prospect of further litigation arising from yesterday’s decision of the Court of Appeal is not in the best interests of shareholders.”

Oil and gas explorer Pancontinental (ASX:PCL) had the most interest of any listed company by lunch on Friday, with 28 million shares trading hands and its stock jumping 29 per cent to an intraday high 0.9c after it received a $7.6m cash injection.

One of Pancontinental’s subsidiaries, Pancontinental Namibia, is now one-third owned by Africa Energy — and it handed PCL $7.6 million in shares for the final instalment as part of its investment.

There was also plenty of interest in anti-counterfeiter YPB Group (ASX:YPB), with 27 million shares trading hands after it told investors it had signed a new distribution partner in China.

Shenzen Meixin Electronics provides chemicals and adhesives to the electronics industry. YPB said it gave the company access to a third major industry in China, after announcing deals earlier in the week in the auto and lubricant industries.

YPB shares rose 35 per cent to an intraday high of 2.3c on the news.

Bass Oil (ASX:BAS) sneaked out its half-year report late last night and its stock rose 33 per cent to 0.4c — even though the results were not the greatest.

Oil revenue was down 30pc and the half-year loss ballooned 465 per cent to over half a million dollars.

Here are the best performing ASX small cap stocks at 12.15pm Friday, Sep 7:

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ASX codeCompanyPrice change today (12pm)Price (12pm)VolumeMarket Cap
NWENORWEST ENERGY0.50.3c2M8.5M
MOXMONAX MINING0.50.3c200k1.8M
LKOLAKES OIL NL0.50.3c1M57.6M
MARMALACHITE RES0.330.4c200k4.1M
CIOCONNECTED IO0.330.4c155k3.1M
BASBASS OIL0.330.4c200k7.8M
DGHDESANE GROUP0.31$1.41 99k44.2M
PCLPANCONTINENTAL0.290.9c14M36.8M
SVHSILVER HERITAGE0.273.3c27k19.4M
SROSHAREROOT0.250.5c500k6.0M
DDD3D RESOURCES0.250.5c805k4.0M
YPBYPB GROUP0.242.1c17M12.8M
ZMIZINC OF IRELAND0.20.6c8M10.7M
SPXSPECTRUM RARE EA0.20.6c1M3.5M
SDLSUNDANCE RESOURC0.20.6c5M45.7M
CUXCROSSLAND STRATE0.20.6c695k5.1M
ALTANALYTICA0.20.6c100k18.4M
SKNSKIN ELEMENTS0.182.6c9k2.8M
VECVECTOR RESOURCES0.182c5M23.6M
PDZPRAIRIE MINING L0.1758c221k105.1M
RIMRIMFIRE PAC MNG0.171.4c267k11.3M
PWNPARKWAY MINERALS0.170.7c87k3.6M
AOAAUSMON RESOURCES0.170.7c250k3.1M
TYXTYRANNA RESOURCE0.151.5c230k10.4M
CVTCOVATA0.152.3c53k14.7M
KTDKEYTONE DAIRY CO0.1561.5c1M80.3M
EVEEVE INVESTMENTS0.140.8c44k15.9M
AGSALLIANCE RESOURC0.1412c81k11.0M
3DPPOINTERRA0.143.2c89k13.8M
ST1SPIRIT TELECOM L0.1420.5c164k44.1M
LPDLEPIDICO0.112.1c4M55.6M
JHLJAYEX HEALTHCARE0.13.3c39k5.0M
EN1ENGAGE:BDR0.16.6c41k16.8M

 

GOING DOWN

Raiden Resources (ASX:RDN) dropped 22 per cent to an intraday low of 1.4c after it was reinstated to official quotation this morning.

Raiden requested a suspension last week pending the release of an announcement on its drilling program on Stara Planina. That came out this morning, with Raiden saying it had completed 1,700m of drilling.