Lunchtime small cap wrap: who’s cheering and who’s seeing red
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Here are the key ASX small cap gainers and losers at 1pm AEST Friday.
The ASX Small Ords was up 1 point to 2807 by lunch.
In the green
Sleep diagnostics tech Compumedics (ASX:CMP) surged 25 per cent to 45.5c after announcing $15 million of new distribution contracts.
The shares settled back to 45c at by 1pm AEST.
Compumedics told the market it had signed new three-year contracts with three existing, long-term, China-based sleep and neuro-diagnostic and monitoring distributors.
Under the agreement, the deals had minimum sales commitments of $15 million over three years.
Add to that $1.5 million in orders for shipment by the end of June and Compumedics reckons its plan for China domination are paying off.
“As a result, the company is well-positioned to capture continued growth in sleep diagnostics, as well as expanding further into neurological monitoring, a relatively new and untapped market in China and other parts of Asia,” chair Dr David Burton told the market.
Medical device maker AtCor Medical (ASX:ACG) was trading up 21 per cent at 2.8c after releasing news of a university collaboration earlier this week.
The company is in Sydney for a roadshow today, following its commencement of a preliminary trial of the company’s Pulse Wave Analysis (PWA) tech in a sensor by Blumio.
As part of a planned 15-patient, 18-week trial through Macquarie University, the company will asses the feasibility of its tech in analysing blood pressure data.
Agro-forestry manager Alterra (ASX:1AG) surged 16 per cent to trade at 5c on no news by 1pm AEST.
Chilean miner Emu (ASX:EMU) has bounced back today after shares fell to some of its lowest levels for the year.
The company was up 15 per cent to 7.5c — though still well below an 18c high in December.
Earlier this month the company announced new gold targets had been outlined at its Jotahues site with drill testing to come.
Miner Horizon Gold (ASX:HRN) surged 15 per cent to trade at 15c with no news in the market.
In its last quarterly the company set out its proposed work for the June Quarter — largely continuing work on the Swan Underground Study and completing testing at Wahoo East and Toedter West.
Following the positive geological review and preliminary economic assessment in the Swan Underground Study, additional core drilling is proposed to test depth and strike extensions to the Premium Lode.
In the red
Training and labour services manager Site Group (ASX:SIT) dropped 30 per cent to trade at 2.1c by 1pm AEST Friday after earlier this week releasing results of a registration appeal.
The company is appealing to have its registered training organisation application approved after it was stayed by in Administrative Appeals Tribunal earlier this week.
A further hearing is scheduled today.
Property management platform AssetOwl (ASX:AO1) fell 24 per cent to trade at 4c at lunch with no news in the market.
Former graphite play Oakdale Resources (ASX:OAR) last week announced asset impairments and write-downs. Today its share price dropped 23 per cent to trade at 2.3c.
After a detailed review of its graphite mining tenements Oakdale agreed to relinquish 49 per cent for further exploration activities in the future — impairing its asset base by $2.8 million in its 2018 accounts.
“The Board of Oakdale believes it is prudent to apply the above asset impairments in the current market environment,” it said.
Cloud platform Decimal Software (ASX:DSX) fell 20 per cent to trade at 2c with no news in the market.
Board members of TasFoods (ASX:TFL) described the company’s performance as “obviously disappointing” in its AGM earlier this week. The shares fell 15 per cent to trade at 14c today.
The company reported a trading loss of $4.71 million which it said was a result of reduced gross margins in its dairy products, an unanticipated drop in live weight of its chickens and challenges with freight deliveries of its wasabi products.