Lunchtime small cap wrap: who’s cashing in and who’s cringeing

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Here are the key ASX small cap winners and losers at lunchtime Monday June 4.

The ASX Small Ords index was at a 12-month high today, moving ahead 24 points to 2845.3 by 12.50pm AEST.

GOING UP

Rollercoaster chocolate maker Yowie (ASX:YOW) was on the up after reporting an increased share of the US market. Its choccies were now in 42.1 per cent of North American stores up from 36.9 per cent a year earlier.

“Yowie anticipates this distribution to steadily increase with the additions of CVS, 7-11 and other significant regional grocery and convenience chains.”

Yowie also said it had saved $US 3 million from “aggressive cost cutting” and was launching a new series of chocolate characters.

The shares were up 21 per cent to 8.5c — but still a long way from their 12-month high of 36.5c.

Emerging West Australian nickel explorer St George Mining (ASX:SGQ) gained 21 per cent to 14.5c after lab assays (or tests) confirmed “multiple significant intersections of high-grade nickel-copper-cobalt-PGE mineralisation” at its Mt Alexander Project.

“We are very pleased to see laboratory assays confirming the thick intersections of high-grade nickel-copper sulphides at Stricklands from the recently completed drill program,” said St George Mining chairman John Prineas said.

“The most exciting aspect is that there is potential for further extensions of the mineralisation with large areas of Stricklands remaining untested. A follow-up drill program is now being designed.”

Infant formula maker Bubs Australia (ASX:BUB) gained after signing a $17 million sales deal with a China online distributor.

The deal with New Times Asia — which supplies infant formula and other products to major China e-commerce sites — would “at least double our total company net sales revenue” in the first year, Bubs founder and boss Kristy Carr told investors.

Bubs shares jumped 14 per cent to 87.5c in early Monday trade.

Elsewhere, two stocks were on the move this morning following reports of “visible gold”.

Visible gold refers to native gold that’s discernible to the unaided eye in a hand-held specimen.

King River Copper (ASX:KRC) jumped 8 per cent amid heavy trading after it found “fine visible gold” while drilling at its Mt Remarkable project 200km south of Kununurra in the far north of Western Australia.

The shares were up 10 per cent at 8.8c by 1pm AEST Monday — after hitting an intraday high of 9.6c

The first assay (or lab test) results from 650m of drilling returned “multiple high-grade gold intersects”, King River told investors.

The best results included 4m at 113 grams of gold per tonne with 1m at 346g and 3m at 35g.

Anything over 5g of gold per tonne is considered high grade.

More results are pending.

Vital Metals (ASX:VML) told investors that ongoing analysis of core samples from its Bouli gold project in Niger, West Africa, had returned further visible gold, “suggesting multiple parallel lodes located in the emerging highgrade gold zone”.

Further lab tests were underway with first results due at the end of June.

Vital Metals gained 10 per cent to 1.1c in early Monday trade.

Melbourne-based cancer drug researcher Patrys (ASX:PAB) continued to attract buyers today after last week’s positive results from the ongoing trial of its PAT‐DX1 drug candidate.

The shares gained 30 per cent to 4.9c for the week — and were at 5.5c by 11.45am AEST this morning.

“Confirmation that PAT‐DX1 targets and kills primary human glioblastoma stem cell tumour spheres in vitro is another exciting development,” Patrys CEO Dr James Campbell said last week.

Here’s a snapshot of the best performing ASX small caps at 12.15pm AEST Monday Jun 4:

GOING DOWN

Infant formula exporter Jatenergy (ASX:JAT) fell 12 per cent this morning after confirming it would hold a shareholder meeting July 11 seeking approval to raise $5.86 million selling shares at 10c each.

The money will be used to fund development of its consumer goods business

JAT is also selling 1.2 million shares at 1.5c to sophisticated and strategic investors and buying daigou wholesaler Green Forest International.

The stock fell to 12.3c in early Monday trade.

Identity verification service iSignthis (ASX:ISX) also fell after confirming its transaction service ISXPay “did not experience the growth expected by the company, due to a number of unforeseeable technical issues”.

The previously reported “upstream technical issues” had now been resolved.

The stock was down 8 per cent at 17c by 1.20pm AEST Monday.

Here’s a snapshot of the worst performing ASX small caps at 12.15pm AEST Monday Jun 4:

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