Lunchtime small cap wrap: who’s digging up gold and who’s digging a hole
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Here are the key ASX small cap gainers and losers at 1pm AEST.
The ASX Small Ords was up 10 points at 2692 by 12.45pm AEST.
In the green
A vanadium acquisition has given Sabre Resources (ASX:SBR) a boost, its stock almost doubling from 1.6c to 3.1c today.
The shares were trading at 2.7c at 1.10pm AEST.
Vanadium is one of the hottest commodities on the stockmarket at the moment thanks to its potential to power improved batteries.
Sabre today signed a binding agreement with Kinetic Metals to acquire a 100 per cent interest in each of its Speewah, Unaly and Balla vanadium projects in Western Australia.
To fund the purchase, it’s raised $1.58 million via an oversubscribed placement to sophisticated investors.
Sabre pans to spin out its Namibian vanadium, zinc and lead assets into a separate company to focus on the domestic vanadium projects.
Surefire Minerals (ASX:SRN) jumped 57 per cent to 2.2c this morning before fading slightly to 2c.
Today surefire appointed company secretary Neil Basset — also the secretary of fellow small caps MetalSearch (ASX:MSE) and Quantify (ASX:QFY) and board member of Pointerra (ASX:3DP).
Encouraging anomalies at CopperMoly’s (ASX:COY) Papua New Guinea site have buoyed its stock by 20 per cent to 1.2c.
The three highest-ranked anomalies were close to its main Simuku deposit, largely within 100m of the surface.
P2P lender Wisr (ASX:WZR) surged 19 per cent to trade at 3.1c with no news in the market.
Formerly known as DirectMoney, the company’s share price was buoyed in February when specialist advisory Alceon joined the share register — though it’s slumped for the past month.
Surface engineer LaserBond (ASX:LBL) was up 18 per cent to 13c at 1pm AEST, with no news in the market.
In the red
Junior minors Redbank Copper (ASX:RCP) and Wolf Petroleum (ASX:WOF) both fell 16 per cent to lead the losers at 1pm AEST — trading at 2.5c and 1c respectively.
Neither company had news to share.
Metal Search (ASX:MSE) has continued to struggle, today dropping 15 per cent to trade at 1.1c by lunch.
It follows a drop since the end of February, when it released its gold test results at its Kraaipan project.
At the time, MSE told the market it was planning further exploration work to follow up the results.
Recent listing IntelliHR (ASX:IHR) fell 13 per cent to trade at 22c.
It’s the lowest the company has traded since its IPO in January when it reached a peak of 49c.
Cloud software provider JCurve Solutions (ASX:JCS) was trading down 13 per cent at 2.6c.
Last week JCurve lowered its revenue and profit guidance because of an “accelerating customer mix change with fewer but larger priced contracts”.
For the first nine months of the year it reported $8.2m in sales — a 10 per cent increase to the previous corresponding period.