Lunchtime ASX small cap wrap: Who’s struggling to explain themselves today?
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The ASX Small Ords kept things on a pretty even keel this morning, edging lower but hanging around the 2,720 level where it’s been trading all week.
There was the usual round of leaps and falls among the small-cap miners, but the big news was in educational tech as online recruitment platform Gooroo shot higher.
For an small-cap ASX tech company, signing some kind of deal — any deal — with Microsoft is usually a good sign.
And that was the case for Gooroo (ASX: GOO) this morning, which rocketed higher by more than 80 per cent after inking a commercial agreement with the tech giant.
Phase 1 of the deal — set to be completed by 30 June — will see Microsoft pay Gooroo to test its career-planning software with a number of Microsoft’s partner universities.
Gooroo’s technology uses artificial intelligence and neuroscience to help determine where a student’s skills and interests are best-suited.
“Both parties are working on further details about this program and any relevant information will be made available in due course,” Gooroo said.
In resources, Odin Metals (ASX: ODM) has been jumping around lately and was up 33 per cent, after updating the market yesterday on drilling results at its joint venture project in Silver Swan North.
Here are the best performing ASX small cap stocks at 12pm on Thursday, March 28:
On the losing end of the scale, there were large falls among the mining minnows as Metminco (ASX: MNC), Metals Australia Ltd (ASX: MLS) and Volt Power Group (ASX: VPR) all down by 33 per cent.
And Leigh Creek Energy (ASX: LCK) came off the boil with a 16 per cent fall to 35 cents, after surging higher earlier this week following news that its gas reserves are as big as the Cooper Basin.
Here are the worst performing ASX small cap stocks at 12pm on Thursday, March 28: