The citizens of the United Kingdom went to the polls overnight and the result looks to be pretty definitive; bring back Boris.

Exit polls indicate the Conservative party led by incumbent Prime Minister Boris Johnson is on track to win an overall majority in UK parliament.

The final results won’t be fully known until around Friday lunchtime in the UK (about midnight on the Aussie east coast).

But exit polls have proved to be accurate in recent UK elections. And if the result holds, Johnson will have the support of his party to drive through Brexit and pass the Withdrawal Agreement Bill by January 31.

With what looks like a definitive break to three years of political gridlock, the UK pound surged higher against all the major currencies. A short time ago, the AUD was trading at 0.5140 UK pence — its lowest level since the Brexit vote in 2016.

Back on the local front, stocks rose on the back of a strong global lead following another round of optimism on US-China trade talks.

The ASX200 was up 0.43 per cent to 6,738 points, while the Small Ords index outperformed with a gain of 0.80 per cent to 2,881 points.

GOING UP

Junior explorer Corazon Mining (ASX:CZN) ticked higher after a drilling update at its fully-owned Lynn Lake nickel-copper-cobalt project in Canada.

The company said all three drill-holes had resulted in “strong nickel-copper-sulphide mineralisation, including a broad zone of more than 35m of sulphide mineralisation”.

Here are the best performing ASX small cap stocks at 12pm Friday December 13:

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Ticker Name Price % Chg Market Cap
CZN Corazon Mining Ltd 0.003 +50.00% $6.1M
SRN Surefire Resources NL 0.003 +50.00% $1.9M
ADV Ardiden Ltd 0.004 +33.33% $6.8M
SMI Santana Minerals Ltd 0.004 +33.33% $10.7M
SIS Simble Solutions Ltd 0.03 +32.00% $5.4M
AHL AHAlife Holdings Ltd 0.01 +25.00% $10.1M
BAS Bass Oil Ltd 0.0025 +25.00% $8.4M
AKM Aspire Mining Ltd 0.17 +20.69% $88.8M
EVE EVE Investments Ltd 0.006 +20.00% $18.2M
PNV PolyNovo Ltd 2.06 +18.73% $1.4B
CE1 Calima Energy Ltd 0.007 +16.67% $15.1M
COY Coppermoly Ltd 0.007 +16.67% $14.9M
NZS New Zealand Coastal Seafoods L 0.014 +16.67% $7.4M
FPL Fremont Petroleum Corp Ltd 0.008 +14.29% $13.3M
PDI Predictive Discovery Ltd 0.008 +14.29% $3.9M
RDN Raiden Resources Ltd 0.008 +14.29% $3.5M
AUT Auteco Minerals Ltd 0.008 +12.50% $9.0M
CYM Cyprium Metals Ltd 0.23 +11.90% $13.2M

 

GOING DOWN

Energy and resources explorer MEC Resources (ASX:MMR) was among the laggards, falling by almost 30 per cent in morning trade to 0.5c.

The company had no news to report, although the fall comes three days after the company advised of an “anonymous” and “misleading” letter that had been circulated to some shareholders, asking whether they’d been “told in July that MEC will be looking to divest its oil & gas assets”?

Here are the worst performing ASX small cap stocks at 12pm Friday December 13:

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Ticker Name Price % Chg Market Cap
PNN PepinNini Lithium Ltd 0.001 -50.00% $1.4M
NGY NuEnergy Gas Ltd 0.01 -41.18% $14.8M
MMR MEC Resources Ltd 0.005 -28.57% $3.4M
EPM Eclipse Uranium Ltd 0.003 -25.00% $3.7M
MDI Middle Island Resources Ltd 0.004 -20.00% $4.7M
WWI West Wits Mining Ltd 0.006 -14.29% $5.5M
OLV Otherlevels Holdings Ltd 0.012 -14.29% $3.4M
PAK Pacific American Holdings Ltd 0.03 -13.33% $4.6M
TDO 3D Oil Ltd 0.07 -13.10% $19.4M
CWX Carawine Resources Ltd 0.2 -13.04% $15.5M
PWN Parkway Minerals NL 0.007 -12.50% $9.2M
AGS Alliance Resources Ltd 0.1 -12.50% $16.2M
OVL Oro Verde Ltd 0.008 -11.11% $16.0M
MAM Microequities Asset Management 0.43 -10.53% $56.5M
ASN Anson Resources Ltd 0.03 -10.34% $15.6M
MME MoneyMe Ltd 1.55 -9.88% $261.8M