Half the country is on holidays (not us though) and the ASX Small Ordinaries index (ASXO) was down 0.18 per cent to 2762.30 by midday.

Here are the big movers among small cap stocks for today, March 11:

WINNERS:

There are some BIG winners today so far.

Gindalbie Metals (ASX:GBG) says Chinese-owned Ansteel wants to buy the company – but  subsidiary Coda Minerals will be demerged to Gindalbie shareholders.

Coda will end up with the Mt Gunson copper and cobalt project in South Australia and $10.64m in cash.

This piece of news sent the Gindalbie share price up 108 per cent to 2.5c in morning trade.

If both transactions go ahead, Gindalbie shareholders will get 2.6c cash for each of their shares — a 90 per cent premium to Gindalbie’s 30-day volume weighted average price as well as a pro-rata distribution of Coda shares.

Chilean explorer Emu NL (ASX:EMU) is up 59 per cent to 7c after comparing its Vidalita project with Goldfield’s (NYSE:GFI) nearby 3.5 million ounce Salares Norte deposit after some early exploration success.

The latest round of drilling includes what Emu calls Vidalita’s ‘discovery hole’ – 24m at 5 grams per tonne gold and 28 grams per tonne silver, 20m from surface.

Here are the best performing ASX small cap stocks at 12pm EST Monday March 11:

ASX Code Name Last price Percentage change Market cap Volume
GBG Gindalbie Metals 0.025 108% $39,000,000 9.5M
VRM Verdant Minerals 0.031 107% $16,600,000 6.8M
AHZ Admedus 0.05 58% $29,500,000 12.5M
KLH Kalia 0.003 50% $7,500,000 1.8M
EMU Emu 0.07 59% $8,400,000 12.0k
HNR Hannans 0.013 30% $25,800,000 8.0M
WZR Wisr 0.08 25% $46,000,000 19.9M
GTE Great Western Exploration 0.005 25% $4,800,000 200.0k
TTA TTA Holdings 0.02 25% $2,700,000 12.7k
NKP Nkwe Platinum 0.1 22% $88,700,000 4.4M
AYR Alloy Resources 0.003 20% $4,700,000 96.7k
LNY Laneway Resources 0.006 20% $22,100,000 586.3k
SPQ Superior Resources 0.006 20% $4,100,000 220.2k
SPT Splitit Payments 1.85 18% $480,400,000 18.8M
EHX EHR Resources 0.03 17% $3,400,000 100.0k
PAK Pacific American Coal 0.04 17% $6,800,000 110.6k
KEY Key Petroleum 0.01 17% $9,900,000 6.3M
NVU Nanoveu 0.09 15% $12,500,000 190.4k
MZI MZI Resources 0.016 14% $4,800,000 107.3k
RXL Rox Resources 0.008 14% $10,100,000 1.2M

 

LOSERS:

The Candelas lithium brine project in Argentina has returned an “exceptional” intercept of 192m at 802 mg/l lithium in its maiden drillhole, popular lithium explorer Galan (ASX:GLN) says.

Over the past 12 months, the stock has soared from 9.1c to highs of above 60c earlier this month.

But the explorer wasn’t so popular today; down 16.2 per cent to 51.5c (and counting) in morning trade.

Here are the worst performing ASX small cap stocks at 12pm EST Monday March 11:

ASX Code Name Last price Percentage change Market cap Volume
THD Thred 0.002 -33% $3,600,000 447.5k
MNC Metminco 0.002 -33% $2,400,000 5.9M
LCY Legacy Iron Ore 0.002 -33% $2,900,000 26.6k
OVL Oro Verde 0.003 -25% $4,700,000 96.0k
ADV Ardiden 0.003 -25% $6,700,000 470.0k
PCL Pancontinental Oil & Gas 0.002 -20% $10,800,000 292.0k
MRQ MRG Metals 0.004 -20% $2,700,000 285.0k
GAL Galileo Mining 0.14 -18% $16,900,000 245.9k
OAU Ora Gold 0.01 -17% $6,500,000 17.5k
FGO Flamingo AI 0.005 -17% $5,600,000 400.0k
CCG CommsChoice Group 0.09 -15% $10,200,000 80.0k
UUV UUV Aquabotix 0.03 -14% $4,800,000 95.0k
FGF First Growth Funds 0.006 -14% $9,300,000 10.0k
COY Coppermoly 0.006 -14% $10,300,000 25.3k
CYC Cyclopharm 1.11 -14% $87,900,000 451
M7T Mach7 Technologies 0.17 -13% $25,100,000 558.3k
VML Vital Metals 0.007 -13% $12,200,000 48.0k
ABR American Pacific Borate & Lithium 0.14 -13% $26,700,000 110.0k
MGV Musgrave Minerals 0.06 -11% $24,400,000 2.3M
OGX Orinoco Gold 0.004 -11% $5,700,000 103.9k
LSA Lachlan Star 0.01 -11% $6,000,000 2.2M