Monday lunchtime small cap wrap: who’s up and who’s down
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Here are the key gainers and losers at 12pm AEDT:
In the green
Superior Resources (ASX:SPQ) leads the winners on Monday morning despite no fresh news in the market.
The stock was trading up 25 per cent at 1.5c.
Toy maker Funtastic (ASX:FUN) rebounded today after slipping earlier this month — it was trading up 24 per cent at 20c, from recent lows of 16c.
All this despite no news in the market as well.
An update on its Calingiri Copper project saw Caravel Minerals (ASX:CVV) surge 22 per cent to 6.5c.
Chief Marcel Hilmer told the market progress at the site was “promising” and that the drilling program was 65 per cent complete.
Lanka Graphite (ASX:LGR) was trading up 20 per cent at 4.8c on no news.
Earlier this month the company announced the resignation and then, reappointment of director Emily Lee.
Copper and gold play Kalia (ASX:KLH) was up 20 per cent at 1.2c with nothing new on the market.
The company was awarded mining licences for the Mt Tore region in the Autonomous Region of Bougainville late last year, and hope to tap into what they call ‘one of the largest undeveloped mineralised provinces in the world.
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In the red
GetSwift’s (ASX:GSW) return to the market was not received well by investors, the stock plummeting 56 per cent to $1.30 at midday.
After a tumultuous few weeks in which it was under heavy media and regulator scrutiny, it told the market it was completing a review of its contracts and was working well within the listing rules.
Tomizone (ASX:TOM) leads the losers today despite announcing a raise of $500,000 today.
The company was trading down 16 per cent at 1.5c — equalling its issue price offered to investors.
Funds raised provide the company with working capital to accelerate growth and pursue new opportunities – following its acquisition of Bluesky and Ironman last year.
Boadicea Resources (ASX:BOA) was down 15 per cent at 17c on no news.
Last week it released its half yearly, reporting a loss of $250,000.
Bryah Resources (ASX:BYH) was down 13 per cent at 12.5c without any fresh updates.
A heavily oversubscribed $2.5 million placement wasn’t enough to keep shareholders on the hook for Tyranna Resources (ASX:TYX).
The company slipped 13 per cent to 1.9c — still above its 1.7c issue price.