Lunchtime small cap wrap: who made the catch and who missed the mark?
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Here are the key ASX small cap gainers and losers at 12pm AEDT Friday.
The ASX small ords was trading up 3.4 points at 2736 at 12.45 AEDT.
In the green
Mount Burgess Mining’s (ASX:MTB) share price doubled to 1.4c this morning after the explorer found new vanadium targets.
Mount Burgess stumbled on the find at its Kihabe deposit in Botswana, where it has been looking for zinc, lead and silver.
Intermittent zones of up to 43m of vanadium mineralisation occur from depths of just 8m below surface, where grades of up to 2718 parts per million, or 0.27 per cent, have been recorded over 10m intersections.
High-tech earbuds maker Nuheara (ASX:NUH) was up 31 per cent to a 52-week high of 13c after winning approval to join a government subsidy scheme for the hard-of-hearing.
Nuheara won approval as a supplier to the federal government’s Hearing Services Program (HSP) — a $539 million health care program that provides free and subsidised hearing devices.
“We are ready to fill a massive market gap by providing a solution that is much more affordable and one which is more visually appealing and functional: an intelligent wireless earbud that also allows you to listen to music and take phone calls,” chief Justin Miller said.
Philippines-focused payments tech Peppermint Innovations (ASX:PIL) was trading up 22 per cent to 2.2 cents after announcing the acquisition of an Australian remittance business, RemitWisely.
Peppermint plans to launch an international remittance business — with due diligence expected to wrap up by May 1.
Dragon Mountain Gold (ASX:DMG) was up 16 per cent to 2.1c with no news in the market.
Its half-yearly report told shareholders to be patient for drilling results for its potential acquisition targets of Cawse and Avalon projects from Wingstar.
The group had $2.7 million left in the kitty but said it was looking for the right project that would move the company forward.
A video appearance has spurred junior explorer White Rock Minerals (ASX:WRM) up 15 per cent to 1.5c.
The company today shared a video from its chief Matt Gill (published by embattled video producer Big Review TV).
White Rock released half-year results yesterday — a $1.5 million loss following a $837,000 impairment of exploration and evaluation assets.
In the red
Inventis (ASX:IVT) slipped 23 per cent to trade at 1c at midday AEDT.
There was no news in the market, but last month the chairman Tony Noun told shareholders it was on the way back from a “challenging” half.
“While the first half result is unacceptable, the group remains committed to expanding the business and developing quality products to achieve the desired sale volumes and bottom line results,” he said.
State Gas (ASX:GAS) fell 16 per cent to trade at 23c.
The company provided an operational update earlier this week, telling shareholders it had identified a new potential gas pool target in the north-west of its PL 231 site in Queensland’s Bowen Basin.
Work was underway to define the scope of the prospect and assess exploration and drilling options.
Concrete casting tech Weststar Industrial (ASX:WSI) was trading down 15 per cent at 1.7c.
The company posted a $2 million loss for the half — which was down to delays in commencement of works by clients.
Despite growing debt there were projects in the pipeline and acquisitions available.
Eneabba Gas (ASX:ENB) told the market it was acquiring two significant lithium exploration projects in Argentina earlier this week.
As part of the acquisition, the company issued 22.5 million shares, a move that saw its share price drop 13 per cent to 1.3c.
Junior explorer Impact Minerals (ASX:IPT) fell 12 per cent to trade at 1.4c at midday.
The company had no news in the market, but posted a loss of $678,000 in its recent half yearly.
There was still $5.3 million in the kitty and its drill program demonstrated significant potential for silver and gold.