Lunchtime ASX small cap wrap: who scored a touchdown today

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Here are the key ASX small cap winners and losers at lunch Monday Nov 12:

The ASX Small Ords was down 9.2 points or 0.34 per cent to 2,671 at 12.30pm AEST.

GOING UP

Ramelius Resources (ASX:RMS) is offering Explaurum (ASX:EXU) a sweetener to get its takeover across the line and EXU shares are up 18 per cent to an intraday high of 13c.

Explaurum told investors this morning Ramelius would add 5c cash per share to its original offer of one Ramelius share for every four Explaurum shares held. The new deal values Explaurum at about 15.25c per share, or $73.4m.

Ramelius shares were down 6pc however, to an intraday low of 38.5c.

Food Revolution Group (ASX:FOD) struck a big distribution deal in China that sent its shares up 29 per cent to an intraday high of 15.5c.

Sinopec, the Chinese petrochemical giant, is keen to sell the Australian company’s canola oil products in its 35,000 mainland petrol stations.

The deal is still at an early stage — products, volume and prices are still to be finalised.

Shares in Encounter Resources (ASX:ENR) doubled in Monday morning trade, hitting 8c, after it announced it would join forces with Independence Group (ASX:IGO) to advance a copper and cobalt project in Western Australia.

Independence Group is a $2.5 billion diversified mining company, and it is buying $1.8m worth of ENR shares as part of the deal.

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Fe Investments Group (ASX:FEI) told investors its non-property loan book has grown by more than $13 million in the past six months, causing its shares to rise 39 per cent this morning to an intraday high of 12.5c.

The company also announced a $2m cap raise via a private placement.

Here are the best performing ASX small cap stocks at 12.15pm Monday November 12:

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

GOING DOWN

Shares in Phosphagenics (ASX:POH) have taken a significant hit this morning, falling 92 per cent to an intraday low of 0.2c, after it lost a court case against big pharma company Mylan.

It told investors it was unsuccessful in all of its claims in the Singapore International Arbitration Centre (SIAC), after spending over $5 million in court costs.

0.2c is an all-time low, which is nothing to be sniffed at for a company that has been listed for 25 years. More than 115 million shares have traded hands in the sell-off.

Here are the worst performing ASX small cap stocks at 12.15pm Monday November 12:

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

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