Hot air balloons at the Balloon Spectacular in Canberra.
Lunchtime small cap wrap: who’s flying high and who’s full of hot air
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Here are the key ASX small cap gainers and decliners at 12.45pm AEDT.
The ASX small ords was trading up 24 points at 2747 at 12.45 AEDT.
In the green
Prospective oil and gas play Pilot Energy (ASX:PGY) surged 61 per cent this morning to 4.7c — triggering a query from the ASX.
Pilot told the ASX it had no news to report.
The company’s primary focus is an oil and gas permit in the north Perth Basin — where reprocessing work was expected to start earlier this year.
Its last quarterly reported no customer receipts for the past year and $313,000 left in the bank.
Pilot estimated outgoings of $278,000 for the current quarter, sparking questions from the ASX about its cash position. But it reassured the bourse all would be okay with another capital raising planned for the quarter to come.
Coziron Resources (ASX:CZR) was up 31 per cent at 2.1c at 12.45pm AEDT — with nothing new in the market.
Earlier announcements have flagged earthworks and drilling to commence in early March at its Budaddo project, east of Gearldton, WA.
Digital health play Adherium (ASX:ADR) was trading up 24 per cent Monday morning after its directors bought 1.4 million shares on the open market.
The shares opened at 11.5c and hit 13c by 12.45pm AEDT.
“Their personal investment at this time demonstrates a commitment to the company, as well as confidence in our strategy,” chief Arik Anderson said.
“We had a great start to fiscal 2018, with first half results that included a 92 per cent increase in revenue and a 63 per cet increase in delivered devices over the comparable period in 2017, demonstrating the meaningful traction we are gaining.”
Adherium is working to improve medication adherence and patient outcomes through its respiratory devices.
Work has begun at the Amsterdam site of Integrated Green Energy Solutions’ (ASX:IGE) plastic-to-fuel plant and investors are excited.
The stock surged 28 per cent to trade at 32c by Monday 12.50pm AEDT.
It builds on momentum from earlier announcements including a 100 per cent futrue sales agreement for all road-ready fuel from the site.
Ovarian cancer tester Bard1 Life Sciences (ASX:BD1) continued a stellar run this month, surging to 3.4c on robust trade before settling to 3c by 12.50pm AEDT — up 15 per cent.
The stock has more than trebled in a week after announcing further positive test results last Monday.
Last week’s performance was so good it topped our weekly list of winners and losers, and has been part of a series of success stories for Aussie biotechs.
| ASX Code | Name | % CHANGE | Price Mon 12pm AEDT |
|---|---|---|---|
| PGY | Pilot Energy | 61 | 4.7c |
| CZR | Coziron Resources | 31 | 2.1c |
| ADR | Adherium | 28 | 13.5c |
| IGE | Integrated Green Energy | 28 | 32c |
| BD1 | Bard1 Life Sciences | 26 | 3.3c |
| ASN | Anson Resources | -14 | 15c |
| WEC | White Energy Co | -13 | 5.3c |
| ARM | Aurora Minerals | -11 | 3.1c |
| SMP | Smartpay Holdings | -10 | 13.5c |
| FZO | Family Zone Cyber Safety | -10 | 54c |
In the red
Utah lithium explorer Anson Resources (ASX:ASN) today told investors it was commencing brine sampling at Cane Creek but that exploration would continue all year.
Investors weren’t impressed. The stock fell 14 per cent on Monday morning to trade at 15c by 1pm AEDT.
It said a rig would arrive on site on Wednesday, within the initial sampling program expected to finish this month.
Coal tech White Energy (ASX:WEC) was trading down 13 per cent at 5.3c on the recent release of its half-yearly report.
The company told shareholders it was still seeking to sell its 51 per cent stake in Mountainside Coal Company and had narrowed the prospective buyers down to five parties.
In its place, it was actively pursuing opportunities globally to briquette — compress coal dust to use as fuel — discarded coal fines which currently represent an environmental liability to miners.
Gold junior Aurora Minerals (ASX:ARM) fell 14 per cent to trade at 3c by 1pm AEDT with no news in the market.
Earlier this month it announced drill results from its Bobosso Project in the Ivory Coast but the news failed to rally investors.
EFTPOS machine maker Smartpay (ASX:SMP) dropped 10 per cent to 13.5c on thin trade with no news. It recovered to 14c by 1pm AEDT.
The company has been quiet in the market all year — but it hasn’t stopped key shareholder Microequitites Asset Management from upping its investment from 15 per cent to 16.26 per cent last week.
Cyber security tech Family Zone (ASX:FZO) told the market its Indian deal had fallen through today. Its shares dropped to 54c before recovering slightly to 56c — down 10 per cent.
The deal with Indian telco Aircel to was signed last month, but since then the company has filed for insolvency.
Family Zone reassured investors it wasn’t the end of all development efforts into India, but would simply be a delay.
