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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: 

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

ASX codeCompanyPrice change today (12pm)Price (12pm)VolumeMarket Cap
LINLINDIAN RESOURCE0.7333333333330.0263M5.0M
T3D333D0.50.00337k1.8M
ROGRED SKY ENERGY L0.50.00340k2.1M
PCLPANCONTINENTAL0.50.0037M10.8M
CLYCLANCY EXPLORATI0.50.003150k8.4M
EMPEMPEROR ENERGY L0.3333333333330.0042M2.7M
BASBASS OIL0.3333333333330.0041M7.8M
MTBMOUNT BURGESS0.250.00545k1.7M
ICGINCA MINERALS0.250.0051M11.2M
SKNSKIN ELEMENTS0.2333333333330.0372k3.9M
SDLSUNDANCE RESOURC0.20.0065M45.7M
BLYBOART LONGYEAR L0.20.006501M144.6M
AZIALTA ZINC0.20.00610M6.8M
AGEALLIGATOR ENERGY0.20.0061k4.1M
TAWTAWANA RESOURCES0.20.32M144.5M
TMPTECH MPIRE0.20.06757k4.4M
KTDKEYTONE DAIRY CO0.180.593M75.0M
LERLEAF RESOURCES L0.1666666666670.07178k15.1M
HHYHHY FUND0.1666666666670.07294k4.9M
BKPBARAKA ENERGY AN0.1666666666670.007410k16.2M
UBNURBANISE.COM0.160.029100k13.3M
TAPTAP OIL0.1538461538460.10546k38.8M
TV2TV2U INTERNATION0.1428571428570.0083M14.2M
CXZCONNEXION MEDIA0.1428571428570.00848k5.9M
SM8SMART MARINE SYS0.1363636363640.025152k2.3M
CZLCONSOLIDATED ZIN0.1363636363640.0252M20.3M
AEVAVENIRA0.1333333333330.0174M14.3M
IBXIMAGION BIOSYSTE0.1320754716980.0611k12.9M
VMSVENTURE MINERALS0.1250.027299k12.5M
A3DAURORA LABS0.1234567901230.91402k53.2M
AXEARCHER EXPLORATI0.1136363636360.098333k16.6M

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:

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

ASX codeCompanyPrice change today (12pm)Price (12pm)VolumeMarket Cap
GLAGLADIATOR RESOUR-0.50.002403k3.5M
VMGVDM GROUP-0.3333333333330.002500k17.6M
LCYLEGACY IRON ORE-0.250.003173k5.9M
AVWAVIRA RESOURCES-0.250.0033M3.5M
CZRCOZIRON RESOURCE-0.2222222222220.01450k32.1M
EQEEQUUS MINING-0.20.02463k18.9M
SERSTRATEGIC ENERGY-0.20.004301k4.4M
CGMCOUGAR METALS NL-0.20.0041M4.7M
RNDRAND MINING-0.1906474820142.2528167.2M
AVDANTILLES OIL AND-0.1666666666670.03132k4.9M
NC6NANOLLOSE-0.1538461538460.1157k9.7M
EVEEVE INVESTMENTS-0.1428571428570.006400k14.7M
UBIUNIVERSAL BI-CDI-0.1403508771930.24534k50.4M
14D1414 DEGREES-0.1282051282050.34916k67.2M
SEISPECIALITY METAL-0.1250.014736k8.9M
MZNMARINDI METALS L-0.1250.007500k14.2M
AKMASPIRE MINING-0.1153846153850.0233M67.8M
PNNPEPINNINI LITHIU-0.1111111111110.008100k5.6M
ECGECARGO HOLDINGS-0.1034482758620.1320k89.2M
SRNSUREFIRE RESOURC-0.10.00950k4.2M
RFTRECTIFIER TECHNO-0.10.027129k41.0M
TBRTRIBUNE RES-0.09597523219815.842k323.7M
IRCINTERMIN RES-0.09090909090910.1525k38.8M
SDVSCIDEV-0.09090909090910.012M7.0M
MTHMITHRIL RESOURCE-0.09090909090910.0150k2.2M
LMLLINCOLN MINERALS-0.09090909090910.01220k6.3M
EM1EMERGE GAMING-0.09090909090910.01580k6.5M
TARTARUGA MINERALS-0.08974358974360.07136k10.8M
WHKWHITEHAWK-0.08695652173910.04211k3.3M
KTEK2 ENERGY-0.08333333333330.011200k3.6M