Here are the key ASX small cap winners and losers at lunchtime Friday.

The ASX Small Ords index was down 20 points at 2817.1 by 1pm AEST.

GOING UP

Insurance and utlity comparison website iSelect (ASX:ISU) put on 30 per cent today after confirming it was a takeover target.

iSelect plummeted to an all-time low in April after its CEO resigned following an earnings downgrade of almost two-thirds of previous forecasts.

Today iSelect confirmed speculation that it had “in recent weeks received several unsolicited and non-binding proposals from both listed and unlisted parties in relation to mergers”.

Earlier this week it emerged that IHA Group — which is reportedly linked to rival comparison site Compare the Market — had bought a 12.2 per cent stake in iSelect.

“The board is currently reviewing these approaches and assessing their merit. Shareholders should note
that there is no certainty that a transaction will result from these preliminary proposals.”

The stock jumped by a third to an intraday high of 83c this morning — still below its value before the downgrade.

iSelect shares have today bounced off all-time lows amid takeover speculation (ASX:ISU).
iSelect shares have today bounced off all-time lows amid takeover speculation (ASX:ISU).

Shares in bid target Sino Energy (ASX:SEH) surged in share market trading again Friday morning, as investors took heart that a takeover bid unveiled Thursday from Lone Star may be the first of several.

In a self-described “opportunistic” bid, Lone Star has indicated it will offer 25c a share for Sino Energy, which has an interest in valuable gas acreage in China.

The bid has the support of Sino Energy’s board.

But investors are betting rival bidders will come forward as they pushed Sino Energy shares moved ahead another 3 per cent to 24.25c in active trading again Friday morning, drifting back from the high of 25.5c.

Shares in ReadCloud (ASX:RCL) raced ahead another 11 per cent to 39c, adding to a similar rise Thursday, on the back of an investor presentation.

At the meeting, it reinforced its strong growth prospects, reaffirming it is on track to exceed $2 million in revenue in fiscal 2018, while chasing $7.5 million in revenue and 100,000 users for fiscal 2019, which will see key performance targets reached.

Litigation funder JustKapital (ASX:JKL) put on 12 per cent to 7.7c after settling two cases.

The settlements were confidential and subject to approval by the federal court.

JustKapital expects a profit of $2.5 million from the cases — which were part of a litigation portfolio acquired a year ago.

CEO Diane Jones said she remained committed to exiting litigation funding and would focus instead on the core business of providing “alternative financing solutions” to small and medium businesses.

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

ASX code Company Intraday price change (12.30pm Fri) Price (Fri 12.30pm) Volume Market Cap
ARXDD ARC EXPLORATION 1 0.61 4k 5.4M
EXO ENNOX GROUP 0.666666666667 0.005 3M 2.2M
WCN WHITE CLIFF MINE 0.5 0.003 3M 7.7M
ACP AUDALIA RESOURCE 0.4 0.021 145k 6.0M
MOX MONAX MINING 0.333333333333 0.004 469k 2.0M
ISU ISELECT 0.304 0.815 18M 136.5M
CY5 CYGNUS GOLD 0.25 0.2 237k 9.7M
VPC VELPIC 0.25 0.005 197k 5.1M
DNA DONACO INTL 0.205882352941 0.205 367k 140.3M
VIC VICTORY MINES 0.2 0.012 3M 12.3M
PSM PENINSULA MINES 0.2 0.012 186k 7.0M
MLS METALS AUSTRALIA 0.2 0.006 1M 11.7M
ICG INCA MINERALS 0.2 0.006 593k 13.0M
GTE GREAT WESTERN 0.2 0.012 1M 9.2M
RGP REFRESH GROUP 0.181818181818 0.065 10k 7.3M
ZMI ZINC OF IRELAND 0.166666666667 0.007 100k 10.5M
TSN TRANSACTION SOLU 0.166666666667 0.007 1M 13.0M
NAE NEW AGE EXPLORAT 0.142857142857 0.008 70k 3.2M
MED MERLIN DIAMONDS 0.142857142857 0.008 4M 23.3M
ANS AUSTSINO 0.142857142857 0.016 800k 69.5M
EQE EQUUS MINING 0.129032258065 0.035 37k 23.4M
RCL READCLOUD 0.12676056338 0.4 28k 29.7M
BEM BLACKEARTH MINER 0.125 0.135 35k 7.3M
FPL FREMONT 0.125 0.009 450k 5.4M
TMP TECH MPIRE 0.122448979592 0.055 26k 4.4M
ADR ADHERIUM 0.12 0.14 97k 21.8M
JKL JUSTKAPITAL 0.115942028986 0.077 272k 10.2M
BMZ BLACK MOUNTAIN 0.115384615385 0.029 913k 6.3M
USA URANIUMSA 0.111111111111 0.01 2M 3.2M
LMG LATROBE MAGNESIU 0.111111111111 0.01 569k 11.3M
BBX BBX MINERALS 0.111111111111 0.2 50k 71.4M

 

GOING DOWN

Profit-takers pushed Compumedics (ASX:CMP) shares down 8 per cent after its big jump yesterday.

Compumedics soared 75 per cent on Thursday after announcing a $133 million deal to distribute its Somfit “sleep tracker” device in China.

The shares were fetching 66.5c just before 1pm AEST Friday — still more than 50 per cent up on the pre-announcement price.

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

ASX code Company Intraday price change (12.30pm Fri) Price (Fri 12.30pm) Volume Market Cap
MXR MAXIMUS RESOURCE -0.5 0.001 350k 4.8M
WEL WINCHESTER -0.234042553191 0.036 25k 13.4M
TPD TALON PETROLEUM -0.2 0.004 730k 5.1M
DVL DORSAVI -0.2 0.12 5k 25.2M
BGH BLIGH RESOURCES -0.195652173913 0.037 5k 13.2M
DEG DE GREY MINING -0.155555555556 0.19 4M 75.3M
WBE WHITEBARK ENERGY -0.125 0.007 927k 7.9M
AGE ALLIGATOR ENERGY -0.125 0.007 3M 4.6M
BNR BULLETIN -0.125 0.035 34k 7.2M
ECG ECARGO -0.119047619048 0.185 38k 129.2M
TKL TRAKA -0.117647058824 0.045 295k 16.9M
WRR WORLD REACH -0.111111111111 0.16 8k 9.5M
GLB GLOBE INTL -0.103448275862 1.3 6k 60.1M
TYX TYRANNA -0.1 0.018 30k 14.3M
PNX PNX METALS -0.1 0.009 200k 10.9M
EHX EHR RESOURCES -0.1 0.081 100k 11.3M
BOA BOADICEA -0.0957446808511 0.085 10k 5.0M
CTE CRYOSITE -0.0941176470588 0.077 8k 4.0M
ARV ARTEMIS -0.093023255814 0.195 4M 136.2M
PPL PUREPROFILE -0.0909090909091 0.09 14k 11.9M
NOR NORWOOD SYSTEMS -0.0909090909091 0.01 1M 14.6M
MRV MORETON -0.0909090909091 0.01 55k 30.5M
CXM CENTREX METALS -0.0833333333333 0.11 6k 37.9M
UCW UCW -0.0833333333333 0.165 200 14.3M
SRN SUREFIRE -0.0769230769231 0.012 13k 5.5M
RXL ROX RESOURCES -0.0769230769231 0.012 1M 16.4M
IPT IMPACT MINERALS -0.0769230769231 0.012 2M 16.5M
CTM CENTAURUS METALS -0.0769230769231 0.012 7M 29.9M
AU1 AGENCY GROUP -0.0769230769231 0.012 109k 8.9M
ADY ADMIRALTY -0.0769230769231 0.012 182k 15.0M
A3D AURORA LABS -0.0769230769231 0.54 56k 38.2M
CMP COMPUMEDICS -0.0763888888889 0.665 182k 127.6M