Lunchtime small cap wrap: who’s in the fast lane and who’s stalling
Link copied to
Here are the key ASX small cap gainers and losers at 12pm AEST.
The ASX Small Ords was up 23 points to 2693.
In the green
Interpose (ASX:IHS) surged today after announcing its acquisition of an 80 per cent interest in a gas exploration project in Zimbabwe.
The stock was trading up 55 per cent to 4.5c at midday.
Interpose believces the project has potentially the biggest undrilled structure onshore Africa. It builds on a $30 million data set created by Mobil in the early 1990s.
The acquisition will be funded by a $4.5 million capital raise with shares offered at 3c.
Iron ore explorer AustSino (ASX:ANS) has reached record highs since its reinstatement to the local bourse earlier this month.
Today, it was trading up 40 per cent at 2.1c.
Body tracker MyFiziq (ASX:MYQ) was up 17 per cent to trade at 40c on the announcement of new board member Nick Prosser.
He’s the founder of Canberra Data Centres, and heavily invests in Australian tech startups. Along with his board membership Mr Prosser is advance $500,000 to the company.
Germ-buster Zoono Group (ASX:ZNO) was up 17 per cent to 27c with no news in the market.
“Highly encouraging” results from Dempsey Resources (ASX:DMI) potential new lithium mine has seen its stock climb today.
Due diligence at its Argentinian site showed a highly productive basin with low impurities and shallow targets and was an ideal geological setting for a lithium brine development.
Dempsey drew comparisons to the nearby successful Galaxy Mines site.
In the red
Despite revealing a “robust” maiden resource, gold explorer Breaker Resources (ASX:BRB) slumped 23 per cent to 39c.
The company today announced an initial 624,000 resource of 11.8Mt at 1.6 grams per tonne.
But it said the resource was constrained by a lack of drilling.
Cancer researcher Invion (ASX:IVX) fell 18 per cent to 2.7c at midday.
The biotech’s director Dr Mitchell Glass sold down 10 million shares for $399,000 over the last week for tax purposes.
Fe Ltd (ASX:FEL) fell back 15 per cent to trade at 2.8c after news of a farm-in partner was released yesterday.
The Morck’s Well joint venture with Auris Minerals (ASX:AUR) had reported preliminary anomalies within the east of the project — yesterday sending FEL up as high as 3.3c.
Mouthguard maker Impression Healthcare (ASX:IHL) dropped 14 per cent on no news to 2.9c, as did Horizon Gold (ASX:HRN) — falling 13 per cent to 19c.