An iconic Australia brand is going offshore. Not to worry, it’s not Four’n Twenty, but surfing brand Rip Curl: it is being acquired by outdoor retailer Kathmandu (ASX:KMD).

Kathmandu will pay $350 million for Rip Curl, which was founded by surfer buddies Brian Singer and Douglas Warbrick at Victoria’s Bells Beach in 1969.

Kathmandu says Rip Curl will help beef up its summer offerings — Kiwi retail brand has all the needs for winter, but not a great deal when it comes to summer.

The sun is shining on local markets today, with the ASX 200 up 0.15 per cent to 6,699 and the ASX small ords up 0.26 per cent to 2,902 points.

Finally, we’ll find out at 2:30pm whether the Reserve Bank of Australia will cut interest rates or not.

 

Going up

Actinogen (ASX:ACW) is comfortably today’s biggest winner, up as much as 300 per cent at one point before lunch after a higher dosage of its drug Xanamem in healthy elderly patients showed a statistically significant improvement in cognition.

The company’s shares hit their highest point since May, when a phase II trial of a lower dosage of Xanamem failed to show an improvement in Alzeheimer’s patients.

Also racing upwards today was AJ Lucas (ASX:AJL), which jumped 19 per cent after confirmation all was not lost at a Lancashire gas field operated with Caudrilla (which it owns nearly half of).

CEO Francis Egan argued there still was a “huge commercial opportunity” there. It would help the UK meet its energy needs without relying on imports and could help as a domestic feedstock for hydrogen production, he says.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday October 1:

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Code Name Price % Chg Market Cap Volume
ACW Actinogen Medical Ltd 0.03 +233.33% $35.8M 214.6M
GBR Great Boulder Resources Ltd 0.07 +66.67% $8.0M 645.5k
LCY Legacy Iron Ore Ltd 0.005 +66.67% $7.3M 14.2M
EPM Eclipse Uranium Ltd 0.003 +50.00% $3.4M 1.0M
VIC Victory Mines Ltd 0.0015 +50.00% $5.2M 750.0k
CUX Crossland Strategic Metals Ltd 0.008 +33.33% $8.1M 878.2k
EER East Energy Resources Ltd 0.004 +33.33% $12.8M 61.6k
PBX Pacific Bauxite Ltd 0.004 +33.33% $1.6M 1.1M
KP2 Kore Potash PLC 0.02 +33.33% $17.2M 855.4k
BIT Biotron Ltd 0.09 +28.77% $56.6M 13.7M
EM2 Eagle Mountain Mining Ltd 0.23 +27.78% $23.9M 111.0k
RIM Rimfire Pacific Mining NL 0.005 +25.00% $3.4M 2.2M
BUY Bounty Oil & Gas NL 0.005 +25.00% $4.8M 100.0k
DHR Dark Horse Resources Ltd 0.005 +25.00% $11.4M 296.0k
GLV Global Vanadium Ltd 0.003 +20.00% $9.4M 1.5M
AJL AJ Lucas Group Ltd 0.13 +19.05% $93.8M 81.5k
ISX iSignthis Ltd 1.11 +18.18% $1.2B 18.1M
LMG Latrobe Magnesium Ltd 0.013 +18.18% $16.9M 500.0k
SRZ Stellar Resources Ltd/Australi 0.014 +16.67% $5.3M 348.9k

 

Going down

Suda (ASX:SUD) was down 33 per cent after the Australian Therapeutic Goods Administration declined the company’s appeal to have its anti-malaria mouth spray approved.

“The company is disappointed with the outcome and will consult with its advisors to determine whether any further actions are recommended,” chairman Paul Hopper said.

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday October 1:

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

Code Name Price % Chg Market Cap Volume
VPR Volt Power Group Ltd 0.001 -50.00% $8.2M 100.0k
SUD Suda Pharmaceuticals Ltd 0.003 -33.33% $10.7M 15.3M
BPH BPH Energy Ltd 0.0015 -25.00% $4.5M 5.3M
ALT Analytica Ltd 0.003 -25.00% $10.6M 162.0k
CCA Change Financial Ltd 0.43 -20.37% $42.5M 5.9M
QFY Quantify Technology Holdings L 0.004 -20.00% $6.0M 1.1M
GTE Great Western Exploration Ltd 0.004 -20.00% $5.0M 10.6M
CZR Coziron Resources Ltd 0.008 -20.00% $16.7M 60.0k
CFE Cape Lambert Resources Ltd 0.004 -20.00% $4.3M 1.1M
PDZ Prairie Mining Ltd 0.26 -19.70% $56.3M 36.1k
AQC Australian Pacific Coal Ltd 0.11 -19.23% $5.3M 93.0k
KTE K2 Energy Ltd 0.005 -16.67% $1.5M 500.0k
CNB Carnaby Resources Ltd 0.13 -16.67% $12.0M 1.2M
PNN PepinNini Lithium Ltd 0.005 -16.67% $3.1M 1.1M
MLS Metals Australia Ltd 0.005 -16.67% $7.3M 3.1M
BAS Bass Oil Ltd 0.005 -16.67% $7.3M 3.9M
ARN Aldoro Resources Ltd 0.15 -16.67% $6.7M 157.0k
CXU Cauldron Energy Ltd 0.02 -15.79% $5.3M 657
SGC SACGASCO Ltd 0.03 -15.62% $7.2M 828.1k