Lunchtime small cap wrap: who’s on top of the podium so far
Australian female 4x100m Freestyle Relay team receive their medals on day one of the Commonwealth Games.
Here are the key ASX small cap gainers and losers at 12pm AEST Friday.
The ASX Small Ords was trading up 1.9 points at 2646 at 12.30pm AEST.
In the green
Lithium explorer Anson Resources (ASX:ASN) has started on the recovery path after shareholders rushed for the exit following lower-than-expected lithium levels at its flagship project in Utah’s Paradox Basin.
The shares jumped 44 per cent today on good news during sampling of lithium, bromide, iodine and magnesium at Cane Creek — the second stage of Anson’s exploration program at its Paradox Lithium Project.
A flow of supersaturated brine to the surface was a “significant development” the company said.
The stock reached heights of 8.5c in early trade, but settled to 7.2c at 1pm AEST.
Junior fintech Novatti (ASX:NOV) surged on news it has connected popular China payment system AliPay to the local BPAY platform for the bill payment.
The shares jumped 60 per cent to 32c before falling back to 28c.
The service is provided through its a platform chinapayments.com and is designed to allow Chinese residents, migrants, students and tourists to pay local bills.
Uranium prospector Summit Resources (ASX:SMM) was up 35 per cent at 22c with no news in the market.
The company’s main project is Isa North, North Queensland where the focus is on preserving ownership of identified resources and preserving cash.
Share registry manager Registry Direct (ASX:RD1) jumped 30 per cent to 7.3c after the release of its March quarter update.
The company — with a market cap of just $2.36 million — reported an additional 592 issuers to its platform and detailed plans for expansion to grow its customer base.
Potential blockchain play Zyber (ASX:ZYB) rebounded in trade this morning, up 25 per cent to 1.5c.
It comes after the stock fell 50 per cent in a week — coming back from lows of 1c.
Last month the company abandoned the potential acquisition of a private company it foreshadowed earlier in the year.
In the red
Wollongong Coal (ASX:WLC) led the decliners at midday — down 27 per cent to 0.8c with no news in the market.
It comes as the company continues to fight a case over delays in paying authorisation fees — which holds a maximum penalty of $11,000.
PNG Miner Resource Mining Corp (ASX:RMI) too was down on no news — the stock declining by 21 per cent at 1.1c.
The company’s key focus is the Wowo Gap Project in the south-east of the country, where it’s looking for nickel laterite to feed China’s demand.
Southern Hemisphere Mining (ASX:SUH) dropped 16 per cent to trade at 5c with nothing new in the market.
Prairie Mining’s (ASX:PDZ) stock was trading down 15 per cent at 54c — representing a 37 per cent fall in the past week.
It comes after the company filed a lawsuit against Poland’s environment ministry — seeking an extension to the company’s exclusive rights to the Jan Karski project in the country.
Prairie Mining secured in 2015 the exclusive right to apply for a mining concession for the Jan Karski mine in southeast Poland and had until April to file its application.
It said it had not been able to apply because the environmental permit had been delayed.
The wind has been blown out of the sails of CropLogic (ASX:CLI) — gains from recent news of an Australian market entry lost in a matter of days.
Shares in the company reached highs of 8c on the news, but the stock took another tumble this morning, to trade down 14 per cent to 5.4c.