Here are the key gainers and losers at 12pm AEST.

The ASX Small Ords was trading down 3.5 points at 2668 at 1245 AEST.

In the green

Data centre operator Data Exchange Network (ASX:DXN) has surged 37 per cent on its ASX debut.

The company raised $16 million at an issue price of 20c for its modular data centre infrastructure, and was this morning trading at 27.5c.

“Self-contained data centre modules are far less capital intensive as they allow for repurposing of existing warehouse facilities to create fully integrated Tier-III and Tier-IV compliant colocation sites,” according to the company.

MEC Resources (ASX:MMR) has surged 33 per cent to 2.4c on news of the mobilisation of its exploration vessel.

In a note to shareholders overnight, the company said the vessel was on its way to Newcastle, where it would complete a 2-dimensional seismic survey of approximately 200 line kms.

Junior gold explorer E2 Metals (ASX:E2M) was up 30 per cent to 13c with no news in the market.

Payments tech SmartPay Holdings (ASX:SMP) too has surged 24 per cent to trade at 20.5c with no news.

The company last month announced an agreement with AliPay to allow for the payment system to be used in its terminals, expected to launch first in New Zealand this month, with an Australian launch to follow thereafter.

Changes to board and management have buoyed biotech Phylogica (ASX:PYC).

Major shareholder Alan Tribe today announced an increase in his holding to 19.9 per cent in conjunction with his appointment as chair.

Shares in the company surged 17 per cent to trade at 3.3c on the news.

As part of the reshuffle, Dr Rohan Hockings will take the role as chief, usurping Stephanie Unwin who has been in the top job for the past two years.

Wordpress Table Plugin

In the red

Kin Mining (ASX:KIN) this morning announced it would halt all construction works pending a review of costs and schedules – news that sent its stock down 49 per cent to trade at 13c.

It said the decision had been made because of an expected increase in the existing pre-production capital costs for its Leonora Gold Project.

Previous estimates had capital costs at $35.4 million, but the new board has estimates the costs are much higher.

“The board wishes to undertake a comprehensive review of the LGP to ensure that, before full project development is resumed, it has a high degree of confidence in key project parameters, cost and time estimates, and a clear and certain funding path in place to complete the LGP.”

PLC Financial (ASX:PLC) has been on the nose with investors after a halt was lifted last week.

The company fell from 2.2c on Thursday to trade at 1.7c today – a 22 per cent decrease in today’s trade alone.

In early March the company told shareholders the board was reviewing its Malaysian consumer finance business and was exploring options in the diversified financial services industry including fintech and blockchain services.

Queensland oil and gas play Greenvale Energy (ASX:GRV) fell 22.5 per cent to 3.1c on no news.

The quarterly report has spooked investors in King River Copper (ASX:KRC), the stock trading down 16 per cent at 9.6c.

It told the market it had burnt through $372,000 and had $1.5 million left in the kitty – forecasting next quarter costs of $1 million.

Digital marketer OtherLevels (ASX:OLV) slipped 16 per cent to trade at 6.3c with no news.

The company last month announced an expansion of its contracts with a European partner with a baseline value of $2.25 million.