Lunchtime small cap wrap; who crashed out and who’s soaring
Link copied to
Here are the key gainers and losers at 12 AEST.
The ASX Small Ords was trading down 11 points at 2650 at 1pm AEST.
In the green
SaaS provider Reffind (ASX:RFN) jumped 41 per cent to 2.4c on no news, reaching as much as 3c.
The stock has had its time in the sun over the past six months after announcing a move into blockchain – more than doubling from 2c to as much as 5c.
Last week it said it had updated and released its blockchain-enabled WooBoard and was conducting a strategic independent market review into product developments in blockchain-based loyalty and rewards.
Copper and nickel play Sabre Resources (ASX:SBR) shot up 31 per cent to 2.1c with no news in the market.
The company released its half yearly reports last month, detailing its ongoing focus on its Otavi Mountain Land copper and base metal project in northern Namibia.
It said lengthy delays in obtaining renewals for its tenements had impacted the ability of the company to progress, but it now had the security of tenure to proceed and consider farm-in or joint venture opportunities.
Venturex Resources (ASX:VXR) was up 25 per cent to 1.5c after releasing its latest quarterly.
It said it was aggressively advancing its Sulphur Springs copper-zinc project toward a development decision.
“The updated resource estimate when viewed together with the growing exploration potential, the project allows the company to continue to build momentum as it progresses towards a key decision to mine,” it said.
New assay results saw Alt Resources (ASX:ARS) trade up 20 per cent at 7.5c.
In an announcement to market it told shareholders it had found more exceptional high grade gold from RC drilling at Bottle Creek, with grades of up to 53 grams per tonne.
Drilling continues at Emu Rig to test deeper ore shoots as well as at the Southwark deposit – assays are due for release over the coming weeks.
Cyber security tech Covata (ASX:CVT) told the market its cash receipts were up by 174 per cent this morning – sending its shares up 20 per cent to 5.2c.
It said a significant increase in lead generation activities to key prospective customers was behind the results, as well as discipline in its operating expenditure.
At the end of March there was $5.12 million left in the kitty, with cash burn at $1.08 million for the quarter.
In the red
Satellite phone maker World Reach (ASX:WRR) led the losers today, down 20 per cent to trade at 20c.
The company had no news in the market – most recently announcing a $300,000 decrease in its profits for the half year.
It said increased overhead costs were to blame for the loss and a major development previously announced had not been completed as anticipated.
The first deliveries – and hence initial sales revenues – were deferred to March, but to date have not been announced.
User-generated content solution Crowd Spark (ASX:CSK) fell 16 per cent to 5.6c on no news.
Key Petroleum (ASX:KEY) traded lower despite crude oil reaching a 4 year high – the stock down 15 per cent at 1.1c.
E2 Metals (ASX:E2M) fell 15 per cent to 11c.
The company has several drilling prospects in the tightly-held Cobar Basin of NSW – where drilling has commenced at the Mt Solitary prospect.
Bickering with other junior miners has put Empire Resources (ASX:ERL) out of favour – falling 13 per cent this morning to trade at 1.3c.
The company has an ongoing dispute with Eastern Goldfields, seeking to recover in excess of $830,000.