Lunchtime small cap wrap: who’s hitting the high notes so far today
Here are the key ASX small cap gainers and losers at 1pm AEST Tuesday.
The ASX Small Ords was down 1.6 points at 2827 by 12.45 PM AEST.
In the green
Massive sulphides have spurred Auris Minerals (ASX:AUR) shares to double in price to 11.5c today. The stock cooled to 9.2c — up 61 per cent — by 1.10pm AEST Tuesday.
Auris has a “farm-in” agreement with Sandfire Resources (ASX:SFR) which has reported massive sulphides at its Morck’s Well site in Western Australia’s Bryah Basin.
Massive sulphides — typically formed from volcanic activity — often contain rich deposits of minerals such as copper, lead and zinc.
Under the farm-in agreement Auris can earn a 70 per cent interest in projects including Morck’s Well.
Samples from project are being sent for analysis ahead of an expansion of exploration activities.
Chief Wade Evans said the news was a validation of its strategy to partner with Sandfire, and allowed it to explore its other holdings in the Bryah Basin.
Fine jewellery maker Plukka (ASX:PKA) was up 33 per cent to 1.2c on no news.
The troubled company last year failed to turn its performance around after closing its boutiques to focus on business-to-business sales channels.
Last quarter it recorded $37,000 in receipts and had $880,000 left in the bank.
Betting platform TopBetta (ASX:TBH) has surged on news of changes to sports betting in the US.
The shares were up 33 per cent to 14c by 1pm AEST after hitting an intraday high of 15c.
The US Supreme Court overturned a ban on gambling on football, baseball and basketball in most States — opening the gate for States to legalising betting on sports.
That gives TopBetta an opportunity to exercise a US licence granted in August last year.
The company’s Global Tote system enables wagering operators, including corporate bookmakers and tote operators from all over the world to participate in a global betting pool.
Enterprise Metals (ASX:ENT) joined the winners for a second day, up by more than a third to 2.6c despite no news in the market. The shares cooled to 2c by 1.15pm AEST.
After showing off to investors at the RIU Resources Round-up conference last week, Berkut Minerals (ASX:BMT) was today trading up 30 per cent to 17.5c at lunch.
The company last week reported further cobalt intersections returned from drilling at its Skuterud project in Norway.
In the red
Shares in Indoor Skydive (ASX:IDZ) took a dive to lead the lunchtime losers — down 22 per cent at 12c.
The company had no news in the market, but continue to face legal action from SkyVenture after a business deal went south last year.
Luxury online retailer AhaLife (ASX:AHL) dropped 20 per cent to 1.6c with no news in the market.
The retailer previously reported sales were up 23 per cent for the first nine months of the year, but shares have yo-yoed for the past six months.
RiversGold (ASX:RGL) fell 17 per cent to trade at 11.5c with no news in the market.
Last week, 3.7 million shares came out of escrow.
A new vanadium zone did little to excite investors in Coziron Resources (ASX:CZR). The stock slipping 16 per cent to 2c.
Coziron told investors drilling had intercepted a new zone up to 81m long at its Buddadoo site.
The highest grade intercept was 22m at 0.47 per cent vanadium oxide and as much as 0.91 per cent vanadium oxide at a 1m interval.
IT manager ServTech Global (ASX:SVT) fell 15 per cent to 1.6c with no news.
The $1.3 million company earlier this month downgraded its guidance after a number of strategic review initiatives.