Here are the key ASX small cap winners and losers at lunch Friday January 18:

The ASX Small Ords was up 18.3 points or 0.7 per cent to 2,558.3 at 11.24am AEST.

GOING UP

We wrote about paper company Spicers (ASX:SRS) opening up 9pc this morning on news it will be acquired by a Japanese paper giant, but the stock has since exceeded that, with Spicers shares up as much as 26 per cent to 6.7c.

Kokusai Pulp & Paper Co., which sold $4.8 billion worth of paper in the financial year to March 2018, will pay $148 million for Spicers, at 7c per share.

Cougar Metals (ASX:CGM) shares jumped 50 per cent to 0.3c this morning after the company said drone surveys had identified new targets ripe for mining.

“Results of the interpretation have highlighted three new exploration targets with the most significant corresponding to a big structural complex north of the El Boldo artisanal mine, located on the property, with an azimuth that matches the azimuth of the structure hosting the mineralisation at that mine,” it told investors.

Shares in tech company Simble Solutions (ASX:SIS) were up 31 per cent this morning to 8.1c a share, following news it had signed a sales contract and strategic partnership with a UK utility broker by the name of UCR Consultants.

The company says minimum revenues of the deal amount to $680,000 over three years, and up to $3.9 million if certain targets are achieved.

WestStar Industrial (ASX:WSI) shares got a nice 25 per cent uplift before lunch on Friday, after the company released its report for the December quarter on Thursday.

The company said it posted a record $5.8 million in cash receipts, giving it a $1.2 million cash flow positive end to the 2018 calendar year.

It also took the time to boast of clients in its books including who else but Rio Tinto and BHP?

Here are the best performing ASX small cap stocks at 11.30am Friday January 18:  

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ASX code Company % change Last price Volume Market cap
LRS Latin Resources 0.5 0.3c 369,950 $5.7m
CGM Cougar Metals 0.5 0.3c 589,666 $2m
CIO Connected IO 0.5 0.3c 500,000 $3.6m
QGL Quantum Graphite 0.5 0.3c 1,000,000 $390k
QTM Quantum Health 0.35 2.7c 1,449,022 $22m
IVO Invigor 0.33 0.4c 431,440 $7.8m
SIS Simble Solutions 0.29 8c 254,630 $5.2m
FIN Fin Resources 0.25 1.5c 354,341 $3.4m
SRS Spicers 0.23 6.5c 3,727,722 $109m
BCK Brockman Mining 0.2 3.6c 12,480 $275m

 

GOING DOWN

Freedom Oil & Gas (ASX:FDM) shares took a 20 per cent hit this morning, dropping to 11.5c a share, after the company revealed a change in its near-term drilling plans.

“Since commencing the continuous drilling program in August of 2018, Freedom has successfully drilled fourteen lower Eagle Ford wells in Dimmit County, Texas. While drilling the fifteenth well, the Noroma 1 well, that well was impacted by high pressure frac water that entered the wellbore and impeded our ability to drill the well to the planned total depth.

“After several days of attempted recovery, it was determined that the wellbore could not be salvaged. The wellbore was then temporarily abandoned except for the top-hole section which will be reused at a later date,” it told investors.

Here are the worst performing ASX small cap stocks at 11.30am Friday January 18:  

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ASX code Company % change Last price Volume Market cap
MNC Metminco -33% 0.2c 205,000 $3.4m
RWD Reward Minerals -23% 10c 30,000 $21.1m
AOA Ausmon Resources -20% 0.4c 173,217 $2.6m
DHR Dark Horse Resources -20% 0.4c 1,600,200 $9.9m
FDM Freedom Oil & Gas -20% 11.5c 1,004,952 $161m
BKY Berkeley Energia -17% 38.5c 575,984 $120m
HGO Hillgrove Resources -17% 7.2c 110,415 $50.8m
SUD Suda Pharmaceuticals -17% 0.5c 725,906 $15.5m
SF1 Stemify -14% 0.6c 300,000 $3.9m
CAF Centrepoint Alliance -14% 9.5c 595,494 $16.4m