Lunchtime small cap scorecard: who's up and who's down

Here are some key gainers and losers among ASX small caps at Tuesday lunchtime:

In the Green

DirectMoney (ASX:DM1)

The online personal loan marketplace jumped 33 per cent after announcing that Alceon, an alternative investment manager with $1 billion of assets under management, would take a strategic stake in the company.

Alceon would initially buy 3.1 per cent of the company for $600,000 at 4.2c a share — a 56 per cent premium to the stock’s February 9 price — with a further option to increase the stake.

The shares were up 0.9c to 3.6c at 12.30pm AEDT.

Ookami (ASX:OOK)

The blockchain play soared 31 per cent after signing a partnership with Australian “digital asset exchange” National Currency eXchange Group.

Ookami planned to develop so-called “smart contracts” and other blockchain products such as identity management and anti-money laundering applications.

The shares were up 1.8c to 7.3c just before 1pm AEDT.

Mustang Resources (ASX:MUS)

In its first ruby update since November, Mustang said it was still getting “strong” production from its Mozambique ruby mine.

Mustang fell from grace at the end of October when reports began to leak out from its inaugural ruby auction that less than half of the lots sold — and boss Christiaan Jordaan late resigned.

Today Mustang said its ruby production was on target. The shares climbed 30 per cent to 3.1c on Tuesday morning — still a long way off the heights of 18.5c before the auction.

They fell back to 2.8c just before 1pm AEDT.

Other notable gainers this morning included Pacifico Minerals (ASX:PMY) up 33 per cent, Superior Resources (ASX:SPQ) up 18 per cent and Zyber (ASX:ZYB) up 20 per cent.

In the Red

Dreamscape (ASX:DN8)

Investors were sprinting away from Dreamscape shares on Tuesday morning after the owner of Domain registrar Crazy Domains slashed its earnings forecasts in half.

The domain host said first half EBITDA, or earnings before interest tax, depreciation and amortisation, would be between $2.8 million and $3.2 million.

In the six months immediately prior, EBITDA was $5.2 million.

Shares plummeted 43 per cent to 13c, after it came out of a trading halt that began on Friday. They were trading at 13.5c just before 1pm AEDT.

Memphasys (ASX:MEM)

Biotech Memphasys dropped 50 per cent after it was named as a defendant in a writ issued in the Supreme Court of Victoria on behalf of its former financiers.

Memphasys told investors the writ claimed “damages interest and costs relating to a series of financing agreements between MEM and the lenders entered into between March and June 2017. The amount of the claim was not specified.

The shares recovered to be steady at 0.2c at 1pm AEDT.

Tlou Energy (ASX:TOU)

Botswana-focused natural gas developer Tlou fell 32 per cent after revealing the local government had requested the re-tendering of development requests for a power plant project.

Tlou would have to re-tender against another company under a new process.

The shares were down 7.5c to 18c at 1pm AEDT.