Here are the key ASX small cap gainers and decliners at 1pm AEDT.

The ASX small ords was trading down 9 points (0.36 per cent) to 2731 at 12.45 AEDT.

In the green

A deal with China’s biggest mobile payments provider cemented SmartPay (ASX:SMP) as the morning’s big winner on Tuesday.

The stock was trading up 50 per cent at 21c at 1pm AEDT on the news.

Teaming up with AliPay will mean SmartPay customers will seamlessly process payments from the Chinese system on the same EFTPOS terminals — giving their 25,000 merchants access to an estimated $11 billion in Chinese tourist spending across Australia and New Zealand, the company says.

It builds on the growth of Chinese tourism and makes Smartpay the first acquirer in both markets to provide their QR payment solution.

Pacific American Coal (ASX:PAK) surged 23 per cent to trade at 4.3c on no news.

The company is focused on the production of coal assets in North America — particularly a coking coal project in British Columbia — while also actively reviewing other potential investments.

Director Warwick Grigor recently upped his stake from 10.6 per cent to 12.3 per cent.

A good year for water treatment company De.mem (ASX:DEM) could see the company rake in between $8 million and $10 million — and investors are optimistic.

Shares were trading up 17 per cent at 24c at 1pm AEDT after forecasts showed growth of its order book and an expanding project pipeline in Australia and Asia.

It’s been less than a year since De.mem’s IPO in April.

Half year accounts have spurred Jameson Resources (ASX:JAL) shares up 20 per cent to 12c.

Relatively high coking coal prices were providing better conditions for the company — in the realm of $US225 to $US250 per tonne as opposed to the $US155 per tonne assumed in initial estimates.

The company curbed losses to $351,000 — down from $503,000 in the previous corresponding period.

Leigh Creek Energy (ASX:LCK) shot up 10 per cent to 11c — with no news in the market.

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Non-bank lender FE Investments (ASX:FEI) was the biggest small cap decliner on tuesday morning, trading down 19 per cent at 15c, despite no news in the market.

Thomson Resources (ASX:TMZ) has fallen back from its highs earlier this month — dropping 17 per cent to trade at 5c by 1pm AEDT Tuesday.

The company announced the completion of its latest drilling program at Bygoo near Ardlethan in NSW as well as at Bald Hill, and at the Harry Smith project for prospective gold.

Multiple quartz veins were encountered in all holes, hosted by Ordovician shale and sandstone and a total of 424 drill samples taken for testing.

Results are expected in early April.

Key investor Australian Mineral & Waterwell Drilling upped its stake in the company to fund advances for exploration activity — taking its holdings to 8.57 per cent.

Silver and gold play Santana Minerals (ASX:SMI) dipped 17 per cent to 1.5c in early trade.

The primary focus of the company is its precious metal exploration in Mexico. No updates have been provided since high grade mineralisation was found in initial diamond drilling.

Sky and Space Global (ASX:SAS) today announced a $10 million heavily oversubscribed placement at 12c a share, but news sent stocks falling 15 per cent to 13.2c by 1pm AEDT Tuesday.

The funds will be used to complete the design, construction and launch of the company’s first batch of 20 nano-satellites, scheduled for the first quarter next year.

A full constellation is scheduled to be completed by end of 2020, comprising 200 Pearl nano-satellites covering the Equator and providing narrowband communication services across large parts of Asia, Central Africa and Central and South America.

PNG junior miner South Pacific Resources (ASX:SPB) dropped 13 per cent to trade at 1.3c on no news.

Last quarter it was continuing discussions with potential investors interested in funding SPB’s exploration and development opportunities.