Here are the key ASX small cap winners and losers at lunch Thu Sep 27:

The ASX Small Ords was up 20 points or 0.7 per cent to 2,857.7 at 1pm AEST.

GOING UP

Tanzania-focused gold play Lindian Resources (ASX:LIN) soared today after winning a legal settlement that moved it a step closer to acquiring up to 75 per cent of a rare earths project in Malawi.

The project’s economics have not been independently updated since 2011 — before rare earths Neodymium and Praseodymium became “increasingly valuable given their strategic use in permanent magnets for electric vehicles”, the group said.

The legal settlement was “an incredibly important milestone”, ending 15 years of litigation and allowing Lindian to finalise due diligence and “formally proceed with the development of the what is one of the most highly regarded and largest undeveloped rare earths projects in the world”, the group told investors.

The shares jumped 73 per cent to 2.6c

Lithium producer Tawana Resources (ASX:TAW) moved ahead after secured the $40 million it needs to pursue an ASX listing with Singapore-listed merger partner Alliance Mineral Assets.

Tawana shares leapt as much as 28 per cent to an intra-day high of 32c on the news.

Tawana holds a 50 per cent interest in the Bald Hill lithium and tantalum mine, in the eastern Goldfields of Western Australia, which started commercial production in July.

The $40 million funding package from a consortium of lenders — led by Tribeca Investment Partners — strengthens Tawana’s balance sheet and is expected to expedite the ASX listing of Alliance.

Graphene player Archer Exploration (ASX:AXE) jumped 14 per cent after partnering with an unnamed German biotech as it looks to tap into the global biosensor market, which is expected to grow to $US27 billion by 2021.

Archer  shares — which have traded between 5.7c and 19c over the past year —  jumped 14 per cent to 10c on the news.

Scientists are finding more and more uses for the so-called “wonder material” graphene — electronics, sensors, aircraft, green tech solutions – possibly even wallpaper that can generate electricity, industrial robotics and sporting equipment.

Archer and its German biotech partner want to use graphene in an electrochemical biosensor capable of detecting diseases in vitro (in other words in test tube experiments).

Juicer Food Revolution (ASX:FOD) enjoyed a bump with a new product launch it hopes will add $5 million revenue.

The maker of kombucha juices  — which last year reported $33 million revenue and a $2.2 million profit — has won shelf space in Woolworths stores nationally for new juices under its ‘Thirsty Brothers” brand: pulp-free orange, apple, tropical and pear & mango.

Shareholders applauded, bumping the company’s shares up 17 per cent to 17c. That’s only just short of their 18.5c high watermark earlier this month. The stock cooled to 15c by midday.

Shark fighter Smart Marine Systems (ASX:SM8) moved up after selling shares at 2.5c cents to raise $500,000 in working capital.

The shares were placed at a 13 per cent premium — and the stock rose 14 per cent to match the placement price.

Here are the best performing ASX small cap stocks at 12.30pm AEST Thu Sep 27: 

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ASX code Company Price change today (12pm) Price (12pm) Volume Market Cap
LIN LINDIAN RESOURCE 0.733333333333 0.026 3M 5.0M
T3D 333D 0.5 0.003 37k 1.8M
ROG RED SKY ENERGY L 0.5 0.003 40k 2.1M
PCL PANCONTINENTAL 0.5 0.003 7M 10.8M
CLY CLANCY EXPLORATI 0.5 0.003 150k 8.4M
EMP EMPEROR ENERGY L 0.333333333333 0.004 2M 2.7M
BAS BASS OIL 0.333333333333 0.004 1M 7.8M
MTB MOUNT BURGESS 0.25 0.005 45k 1.7M
ICG INCA MINERALS 0.25 0.005 1M 11.2M
SKN SKIN ELEMENTS 0.233333333333 0.037 2k 3.9M
SDL SUNDANCE RESOURC 0.2 0.006 5M 45.7M
BLY BOART LONGYEAR L 0.2 0.006 501M 144.6M
AZI ALTA ZINC 0.2 0.006 10M 6.8M
AGE ALLIGATOR ENERGY 0.2 0.006 1k 4.1M
TAW TAWANA RESOURCES 0.2 0.3 2M 144.5M
TMP TECH MPIRE 0.2 0.06 757k 4.4M
KTD KEYTONE DAIRY CO 0.18 0.59 3M 75.0M
LER LEAF RESOURCES L 0.166666666667 0.07 178k 15.1M
HHY HHY FUND 0.166666666667 0.07 294k 4.9M
BKP BARAKA ENERGY AN 0.166666666667 0.007 410k 16.2M
UBN URBANISE.COM 0.16 0.029 100k 13.3M
TAP TAP OIL 0.153846153846 0.105 46k 38.8M
TV2 TV2U INTERNATION 0.142857142857 0.008 3M 14.2M
CXZ CONNEXION MEDIA 0.142857142857 0.008 48k 5.9M
SM8 SMART MARINE SYS 0.136363636364 0.025 152k 2.3M
CZL CONSOLIDATED ZIN 0.136363636364 0.025 2M 20.3M
AEV AVENIRA 0.133333333333 0.017 4M 14.3M
IBX IMAGION BIOSYSTE 0.132075471698 0.06 11k 12.9M
VMS VENTURE MINERALS 0.125 0.027 299k 12.5M
A3D AURORA LABS 0.123456790123 0.91 402k 53.2M
AXE ARCHER EXPLORATI 0.113636363636 0.098 333k 16.6M

GOING DOWN

eSports play Emerge Gaming (ASX:EM1) launched a free-to-play computer gameplatform called ELeague.

But shareholders weren’t impressed, sending the stock down 9 per cent to 1c.

Perhaps investors thought the company — which lost $6.5 milllion last year on revenue of $16,000 — should be charging for its services.

Emerge is targeting emerging markets in Africa via partnerships with telcos.

Here are the worst performing ASX small cap stocks at 12.30pm AEST Thu Sep 27:

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ASX code Company Price change today (12pm) Price (12pm) Volume Market Cap
GLA GLADIATOR RESOUR -0.5 0.002 403k 3.5M
VMG VDM GROUP -0.333333333333 0.002 500k 17.6M
LCY LEGACY IRON ORE -0.25 0.003 173k 5.9M
AVW AVIRA RESOURCES -0.25 0.003 3M 3.5M
CZR COZIRON RESOURCE -0.222222222222 0.014 50k 32.1M
EQE EQUUS MINING -0.2 0.02 463k 18.9M
SER STRATEGIC ENERGY -0.2 0.004 301k 4.4M
CGM COUGAR METALS NL -0.2 0.004 1M 4.7M
RND RAND MINING -0.190647482014 2.25 28 167.2M
AVD ANTILLES OIL AND -0.166666666667 0.03 132k 4.9M
NC6 NANOLLOSE -0.153846153846 0.11 57k 9.7M
EVE EVE INVESTMENTS -0.142857142857 0.006 400k 14.7M
UBI UNIVERSAL BI-CDI -0.140350877193 0.245 34k 50.4M
14D 1414 DEGREES -0.128205128205 0.34 916k 67.2M
SEI SPECIALITY METAL -0.125 0.014 736k 8.9M
MZN MARINDI METALS L -0.125 0.007 500k 14.2M
AKM ASPIRE MINING -0.115384615385 0.023 3M 67.8M
PNN PEPINNINI LITHIU -0.111111111111 0.008 100k 5.6M
ECG ECARGO HOLDINGS -0.103448275862 0.13 20k 89.2M
SRN SUREFIRE RESOURC -0.1 0.009 50k 4.2M
RFT RECTIFIER TECHNO -0.1 0.027 129k 41.0M
TBR TRIBUNE RES -0.0959752321981 5.84 2k 323.7M
IRC INTERMIN RES -0.0909090909091 0.15 25k 38.8M
SDV SCIDEV -0.0909090909091 0.01 2M 7.0M
MTH MITHRIL RESOURCE -0.0909090909091 0.01 50k 2.2M
LML LINCOLN MINERALS -0.0909090909091 0.01 220k 6.3M
EM1 EMERGE GAMING -0.0909090909091 0.01 580k 6.5M
TAR TARUGA MINERALS -0.0897435897436 0.071 36k 10.8M
WHK WHITEHAWK -0.0869565217391 0.042 11k 3.3M
KTE K2 ENERGY -0.0833333333333 0.011 200k 3.6M