Here are the key ASX small cap winners and losers at lunchtime Wednesday July 18:

The ASX Small Ords was up 22.8 points or 0.8 per cent to 2836 at 12.30pm AEST.

GOING UP

ASX debutante New Zealand dairy company Keytone Dairy (ASX:KTD) rang the bell at noon — and promptly jumped more than 50 per cent to 30.5c compared to 20c issue price.

Keytone makes whole and skim milk powder and other dairy powder blends under its proprietary brands. It raised $15 million through an initial public offer.

Dairy and infant formula stocks have been one of the best performing small cap themes over the past year.

Biotech Race Oncology (ASX:RAC) jumped by as much as 67 per cent in the first hours of Wednesday on news its cancer drug Bisantrene had been granted Rare Paediatric Disease designation. It is now hoping to be fast-tracked for approval by US authorities.

The classification of the drug candidate, which is focused on treating childhood acute myeloid leukaemia, means Race could be awarded a priority review voucher for fast-tracked approval from the US Food and Drug Administration if it performs a clinical trial of the drug subject to certain requirements.

Race’s share price hit an intraday high of 26c, up from Tuesday’s 15.5c closing price.

Lithium Australia (ASX:LIT) gained 25 per cent to 12.5c after confirming it had started producing commercial samples of its lithium-ion cathode material for the global battery market.

The cathode is used to conduct electricity flows out of batteries.

Its subsidiary VSPC has now fully recommissioned its pilot production facilities in Brisbane. 

Envirotech play Envirosuite (ASX:EVS) also had a strong morning, up 25 per cent to 6.5c after announcing a $324,000 subscription deal with Chilean ag giant Agrosuper.

Vanadium miner Hardey Resources (ASX:HDY) saw a 25 per cent jump, going to an intraday high of 0.5c after releasing more details of its due diligence on the Nelly Vanadium project.

The explorer outlined a number of comparative advantages for re-opening the mine, including the ability to fast track launch and quickly monetise the operations.

Here are the best performing ASX small cap stocks at 12.30pm Wednesday, July 18:

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ASX code Company Today's price change (12.20pm) Price (12.20pm) Volume Market Cap
EGL ENVIRON GROUP 0.527777777778 0.055 104k 7.8M
KTD KEYTONE DAIRY (listed 12pm today) 0.525 0.305 25.8M 43.5M
CVN CARNARVON PETROL 0.502857142857 0.263 23M 208.2M
T3D 333D 0.5 0.003 50k 1.8M
NWE NORWEST ENERGY 0.5 0.003 325k 6.8M
DDT DATADOT TECHNOLO 0.5 0.003 1M 2.0M
RAC RACE ONCOLOGY 0.41935483871 0.22 317k 12.0M
VPC VELPIC 0.333333333333 0.004 1M 3.4M
RRS RANGE RESOURCES 0.333333333333 0.004 450k 22.8M
RVA REVA MEDICAL-CDI 0.25 0.275 5k 91.2M
XST XSTATE RESOURCES 0.25 0.005 318k 3.1M
SUR SUN RESOURCES NL 0.25 0.005 20k 3.0M
SDL SUNDANCE RESOURC 0.25 0.005 2M 32.5M
ROG RED SKY ENERGY L 0.25 0.005 6M 2.7M
CLZ CLASSIC MINERALS 0.25 0.005 2M 8.0M
LIT LITHIUM AUSTRALI 0.25 0.125 2M 42.8M
OOK OOKAMI 0.227272727273 0.027 5M 6.9M
BKP BARAKA ENERGY AN 0.2 0.006 2M 13.5M
AZI ALTA ZINC 0.2 0.006 205k 6.8M
DCC DIGITALX 0.2 0.15 7M 61.0M
WML WOOMERA MINING L 0.190476190476 0.125 55k 11.8M
PEN PENINSULA ENERGY 0.185185185185 0.32 2M 63.2M
EM1 EMERGE GAMING 0.176470588235 0.02 778k 10.0M
EVS ENVIROSUITE 0.173076923077 0.061 340k 12.0M
WBE WHITEBARK ENERGY 0.166666666667 0.007 250k 5.9M
SRO SHAREROOT 0.166666666667 0.007 4M 7.4M
MSE METALSEARCH 0.166666666667 0.014 1M 4.7M
DEV DEVEX RESOURCES 0.166666666667 0.007 2M 6.6M
PIL PEPPERMINT INNOV 0.16 0.029 1M 23.8M
AHK ARK MINES 0.156862745098 0.059 14k 2.5M

GOING DOWN

Gladiator Resources (ASX:GLA) dropped 25 per cent to 0.4c one day after releasing drilling results for the Kroda at its North Arunta Gold Project.

Here are the worst performing ASX small cap stocks at 12.30pm Wednesday, July 18: 

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ASX code Company Today's price change (12.20pm) Price (12.20pm) Volume Market Cap
CAD CAENEUS MINERALS -0.5 0.001 67M 19.3M
VPR VOLT POWER GROUP -0.25 0.003 500k 33.0M
OVL ORO VERDE -0.25 0.003 3M 3.9M
MRD MOUNT RIDLEY MIN -0.25 0.003 2M 6.1M
EMP EMPEROR ENERGY L -0.25 0.003 175k 3.2M
SPB SOUTH PACIFIC RE -0.2 0.004 108k 827.6k
IVO INVIGOR GROUP -0.2 0.004 15k 6.3M
CGM COUGAR METALS NL -0.2 0.004 1M 4.7M
FZR FITZROY RIVER CO -0.181818181818 0.18 6k 19.5M
QFY QUANTIFY TECHNOL -0.172413793103 0.024 1k 15.9M
JHL JAYEX HEALTHCARE -0.15873015873 0.053 347k 10.6M
ZMI ZINC OF IRELAND -0.142857142857 0.006 171k 12.6M
ASN ANSON RESOURCES -0.137931034483 0.125 8M 61.5M
LIN LINDIAN RESOURCE -0.133333333333 0.013 78k 4.0M
GTG GENETIC TECH -0.133333333333 0.013 23M 36.5M
BOA BOADICEA RESOURC -0.132653061224 0.085 13k 5.2M
NTI NEUROTECH INT -0.131578947368 0.165 5k 20.7M
AHQ ALLEGIANCE COAL -0.130434782609 0.06 400k 32.1M
NAE NEW AGE EXPLORAT -0.125 0.007 2M 4.5M
ADN ANDROMEDA METALS -0.125 0.007 1M 7.2M
9SP 9 SPOKES INTERNA -0.121212121212 0.029 300k 16.3M
VLT VAULT INTELLIGEN -0.12 0.022 100k 21.6M
RNX RENEGADE EXPLORA -0.111111111111 0.008 770k 6.4M
PNX PNX METALS -0.111111111111 0.008 1M 9.8M
MRV MORETON RESOURCE -0.111111111111 0.008 1M 25.0M
MED MERLIN DIAMONDS -0.111111111111 0.008 1M 28.0M
QTM QUANTUM ENERGY L -0.105263157895 0.017 8k 20.5M
SAU SOUTHERN GOLD -0.104166666667 0.215 8k 11.8M
JCS JCURVE SOLUTIONS -0.1 0.036 75k 13.1M
UNL UNITED NETWORKS -0.1 0.027 58k 3.8M