Lunchtime ASX small cap wrap: Who’s saving the world from itself today?
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Good afternoon. Here are the key ASX small cap winners at lunch Tuesday March 5.
The ASX Small Ords was down 26.3 points or 0.94 per cent to 2,762.9 at 12pm AEST, after edging to new 2019 highs in yesterday’s session.
Dental group Smiles Inclusive (ASX: SIL) led the market higher with an intra-day gain of more than 40 per cent.
The company announced this morning that it had renegotiated terms with its major lender, including a waiver of past breaches of its debt covenants.
Freehill Mining (ASX: FHS) also roared ahead, after hitting a high-grade iron ore deposit close to the surface at its Chilean mining project.
And blockchain logistics company Security Matters (ASX: SMX) was a standout performer, posting a gain of more than 30 per cent in morning trade.
It follows the announcement of a feasibility study with German multinational BASF, the global chemical producer.
The two companies will work to assess how SMX’s supply chain logistics technology can be used to improve BASF’s global operations.
And we couldn’t not mention this:
That’s a chunk of gold AuStar sliced through at McNally’s Reef. It reckons it’s hitting some grades higher than 870 grams per tonne.
The sharp selldowns were concentrated among mining minnows this morning.
Alloy Resources (ASX: AYR) slumped by 33 per cent to 0.2 cents per share, down from 0.8 cents in the middle of last year when the company signed an exploration deal with Rio Tinto.
Junior gold miner Hawthorn Resources (ASX: HAW) was almost 30 per cent lower to 4 cents, and has now almost halved from its mid-February highs.
Here are the best performing ASX small cap stocks at 11:45am Tuesday March 5:
“That’s not going to come down here. Is it?”
“No, it is.”