Lunchtime small cap wrap: who’s on fire and who’s blowing up
Link copied to
Here are the key ASX small cap gainers and losers at 12pm AEST Thursday.
The ASX Small Ords was up 1.9 points at 2831 at lunch.
In the green
Recommencement of mining has buoyed Orminex (ASX:ONX) to lead the winners at midday.
The shares were trading up 26 per cent to 14.5c.
Orminex has received confirmation from its strategic partner, underground mining contractor GBF Mining, that work has commenced at its Comet Vale project in the Goldfields region of Western Australia.
The company relisted last month after a $7 million raise.
Takeover talk has spurred Calima Energy (ASX:CE1) shares up 25 per cent to 4.9c.
Calima wants to take over joint venture partners TSV Montney and TMK Montney — a move that was approved today.
Mineral sands explorer Image Resources (ASX:IMA) was trading up 21 per cent to 14c.
Image last week announced its Boonanarring project was fully funded via a $50 million loan.
The funds will go twards completing the construction and commissioning of the company’s 100 per cent owned high-grade, zircon-rich project 80km north of Perth in the infrastructure-rich North Perth Basin.
Software-as-a-service (SaaS) HR tech IntelliHR (ASX:IHR) was up 20 per cent with no news in the market.
The stock was trading at 17.5c at midday.
Same goes for Accelerate Resources (ASX:AX8) which was up 17 per cent to 16.5c.
In the red
Smart Parking (ASX:SPZ) fell as much as 55 per cent in morning trade after the company announced the sacking its UK managing director and finance director after an internal review.
In an ASX announcement this morning the company said it had become aware of alleged non-compliance in human resources and operational controls by the British management team — but had acted “swift and decisively” to terminate them.
Smart Parking (ASX:SPZ) makes smart phone technology that can direct drivers to empty car spaces — but also instantly identifies when a driver has overstayed a time limit, which tripled parking fine revenue during a trial in the Perth suburb of Cottesloe.
The firm has made headlines dating back to 2015, and has been at the centre of a campaign by North Perthshire MP Pete Wishart to have the company removed from the British Parking Association.
Nepalese casino operator Silver Heritage Group (ASX:SVH) dropped 28 per cent to 5c.
The company’s chair David Green abruptly resigned earlier this month for “personal reasons”.
In the last quarter it posted a $2.2 million loss.
Magnetite Mines (ASX:MGT) dropped 25 per cent to 1.5c following yesterday’s announcement of a rights issue.
The company raised $2.4 million in a rights issue and additional placement to fund its merger with Lodestone.
Animal diarrhoea drug developer Anatara Lifesciences (ASX:ANR) fell 24 per cent to 87.5c on announcement of the retirement of its chief Dr Mel Bridges.
A change of focus to human drugs meant it was looking for new expertise.
Today’s news follows the announcement of a licensing deal for its animal drugs with Zoetis earlier this week.
Austral Gold (ASX:AGD) fell 17 per cent to 9.5c with no news in the market.