Lunchtime small cap wrap: who’s breaking from the pack today
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Here are the top gainers and losers among ASX small cap stocks at 1pm AEST Tuesday.
The ASX Small Ords was down 5.1 points to 2660 at 12.45pm.
In the green
Video game platform Esports Mogul (ASX:ESH) today reported a 390 per cent increase in registered users, spurring its stock by as much as a third.
Trading reached a high of 2c before settling up 30 per cent at 1.7c by 1pm AEST — with 43 million shares changing hands.
Esports told investors the last fortnight had netted the service 217,000 new users due to its increased marketing activity and the recent launch of an Asian tournament series.
Numbers have been further bolstered by the release of Esports Elite — a feature that allows users to predict the outcome of matches to win prizes.
Nickel and gold play GTI Resources (ASX:GTR) was trading at 3.9c — a 25 per cent premium — after industry mover-and-shaker Tolga Kumova joined the share registry.
Mr Kumova now holds a 5.6 per cent interest in the company, bought on-market for $102,000.
After a recent capital raise GTR says it is in a position to look for opportunities.
The shares were up 16 per cent at 3.6c at 1pm AEST Tuesday.
Cybersecurity play Covata (ASX:CVT) was trading up 32 per cent at 5c at 1pm AEST after director Ted Pretty bought up on Thursday.
Mr Pretty — who managed Telstra’s tech investment strategy in the dot com days — acquired 300,000 shares on market at 3.8c a share, as well as 150,000 loan plan shares for 3.9c.
Potato-focused agtech CropLogic (ASX:CLI) excited investors with a move into Australia. Its shares surged 30 per cent to 5.6c by 1pm AEST.
The company is acquiring a small Tassie agronomy service Ag Logic as an Australian beachhead. Its shares are still down significantly on their 20c issue price in September.
MetalSearch (ASX:MSE) surged 17 per cent to 1.4c with no news in the market.
In the red
Polish explorer Prairie Mining (ASX:PDZ) slipped to an intra-day low of 64c before recovering slightly to 68c — down 21 per cent — after telling shareholders a mining licence had lapsed and was now pending.
The company has now launched legal action against the Polish government. The hold-up involves a decision on the project’s environmental consent, which is continuing to progress.
Prairie announced a potential joint venture with another Polish coal miner on Thursday.
Finders Resources (ASX:FND) has taken a dramatic fall, halving its share price over three days of trade after ASIC intervened in its hostile takeover.
Today, the stock fell 12 per cent to 15c, marking a new 52-week low after Eastern Fields applied to extend its offer date to Wednesday.
It comes as the company faces a hostile takeover from Eastern Fields — which so far owns 91.19 per cent of the company.
ASIC sent the two to the Takeovers Panel, seeking orders that the acceptance of the offer by Finders’ second-largest shareholder and two independent directors be cancelled.
Investment company Mariner Corp (ASX:MCX) fell 20 per cent to 2.8c after release of its financials last week.
Its interim results for the year showed no revenues and a loss of $60,000.
Earlier this month the company fended off questions from the ASX about negative cash flows, but said it was intending to extend a facility of $100,000 to cover working capital for the year ahead.
Influencer marketplace Engage:BDR (ASX:EN1) fell 19 per cent to 10.5c by 1pm AEST after releasing its first annual report since joining the local bourse.
It reported a $10 million loss — $3.4 million of which were payments to staff as part of a re-organisation of capital within the business.
The shares are at half its December issue price of 20c.
Lindian Resources (ASX:LIN) was trading down 18 per cent to 1.4c on no news.