Here are the key ASX small cap winners and losers at lunchtime Tuesday June 5.

The ASX Small Ords index retreated 11 points to 2834.9 at 1pm AEST after hitting a seven-year high yesterday.

GOING UP

Castle Minerals (ASX:CDT) jumped 25 per cent to an intra-day high of 2.5c on Tuesday morning after the gold explorer “better defined” the location of prospective conglomerate targets in the Pilbara.

Conglomerate gold refers to nuggets hosted in rock containing rounded gray quartz pebbles and other minerals. The world’s most productive gold region, South Africa’s Witwatersrand Basin, is famous for its similar geological formation.

The news comes after panning at the company’s  Coolyia Creek and Beasley Creek projects revealed fine-grained gold from bulk samples of stream sediments draining the Hardey and Mt Roe conglomerates.

Nickel explorer St George Mining (ASX:SGQ) continued its run after yesterday putting on 21 per cent to 14.5c.

This morning the stock gained another 30 per cent to 17.5c.

St George yesterday confirmed tests showed “multiple significant intersections of high-grade nickel-copper-cobalt-PGE mineralisation” at its Mt Alexander Project.

“We are very pleased to see laboratory assays confirming the thick intersections of high-grade nickel-copper sulphides at Stricklands from the recently completed drill program,” said St George Mining chairman John Prineas said.

Shares in Integrated Research (ASX:IRI) surged 9 per cent to $3.45 in early trade as it told the ASX it knew of no reason for the recent sell off in its shares.

IRI shares fell to as low as $3.05 Monday, sold off partly on the back of the recent selling of Technology One which was hit by investor unease over the impact of accounting changes on earnings.

Alaska-focused oil explorer 88 Energy (ASX:88E) has continued a fairly steady eight-month share price march. 88 Energy today reported “encouraging” results from the latest drilling at a well at its Alaskan Project Icewine site.

The shares have nearly tripled since October. This morning they put on 9 per cent to an intraday high of 5c.

Tests indicated the well’s fracture system had “not undergone degradation” which meant “no remedial action will be required prior to commencement of flowback [a fraccing procedure]”.

Operations were “now in full swing” and flowback fraccing remained on schedule to start June 11.

Mount Ridley Mines (ASX:MRD) gained 25 per cent to 0.5c after an exploration update at its gold project near Esperance, WA.

Mount Ridley plans to start Air Core drilling of 100 holes to resolve underlying geology and locate the source of the surface gold geochemistry.

The drill rig has been mobilised to the site with support crews and drilling is due to start tomorrow morning.

Here’s a snapshot of the best performing ASX small caps at 12.15pm AEST Tuesday Jun 5:

ASX code Company Price change today (12.20pm AEST) Price (12.20pm AEST) Volume (intraday) Market Cap
WCN WHITE CLIFF MINE 0.5 0.003 3M 9.6M
PRL PETREL ENERGY LT 0.5 0.003 500k 4.4M
ACP AUDALIA RESOURCE 0.4 0.021 145k 6.0M
EER EAST ENERGY RESO 0.333333333333 0.004 51k 1.1M
SGQ ST GEORGE MINING 0.259259259259 0.17 234k 37.6M
VAN VANGO MINING LTD 0.25 0.2 63k 74.2M
SUR SUN RESOURCES NL 0.25 0.005 10k 3.4M
S3R SERPENTINE TECHN 0.25 0.005 500k 2.9M
NSE NEW STANDARD ENE 0.25 0.005 100k 2.9M
MRD MOUNT RIDLEY MIN 0.25 0.005 2M 6.8M
CXZ CONNEXION MEDIA 0.25 0.005 2M 2.9M
CLZ CLASSIC MINERALS 0.25 0.005 17M 6.2M
AZV AZURE HEALTHCARE 0.166666666667 0.063 5k 12.6M
KMT KOPORE METALS LT 0.16 0.029 240k 10.9M
EM1 EMERGE GAMING LT 0.153846153846 0.015 35k 7.6M
DUB DUBBER CORP LTD 0.150684931507 0.42 252k 50.8M
CDT CASTLE MINERALS 0.15 0.023 694k 4.4M
BIT BIOTRON LTD 0.15 0.023 233k 8.2M
BSX BLACKSTONE MINER 0.148936170213 0.27 8k 22.6M
PDN PALADIN ENERGY 0.14375 0.183 16M 274.1M
NVO NVOI LTD 0.142857142857 0.008 305k 2.9M
MTH MITHRIL RESOURCE 0.142857142857 0.016 615k 1.7M
AGE ALLIGATOR ENERGY 0.142857142857 0.008 3M 4.0M
ATP ATLAS PEARLS LTD 0.142857142857 0.024 89k 9.0M
BUD BUDDY PLATFORM L 0.136363636364 0.125 468k 117.9M
G88 GOLDEN MILE RESO 0.13 0.565 8k 26.2M
VMY VIMY RESOURCES L 0.127450980392 0.115 1M 42.5M
WRM WHITE ROCK MINER 0.125 0.009 8M 11.3M
SVT SERVTECH GLOBAL 0.125 0.018 100k 2.1M
RBR RBR GROUP LTD 0.125 0.009 2M 5.1M
HCO HYLEA METALS LTD 0.125 0.009 1M 22.4M
EPD EMPIRED LTD 0.0729166666667 0.515 185k 76.8M
88E 88 ENERGY LTD 0.0217391304348 0.047 16M 255.7M

GOING DOWN

AVZ Minerals (ASX:AVZ) has been heading south this week amid speculation on investor forums about delays and distribution costs.

The stock fell another 7 per cent to an intraday low of 11c today compared to 30c in mid-March.

The Congo-focused lithium miner was the most heavily traded stock on the ASX this morning with 26 million shares changing hands by 11.30am.

“The herd is running panicked and blind right now,” said one investor on Hot Copper.

AVZ boss Klaus Eckhof said on Monday that drilling at its Manono lithium project in the Congo was “building nicely” ahead of maiden resource numbers due next month.

“The drilling data set is now building nicely and will be forwarded to the independent consultants in June allowing a maiden resources calculation to be completed in July,” Mr Eckhof said.

Here’s a snapshot of the worst performing ASX small caps at 12.15pm AEST Tuesday Jun 5:

ASX code Company Price change today (12.20pm AEST) Price (12.20pm AEST) Volume (intraday) Market Cap
TTA TTA HOLDINGS -0.318181818182 0.015 2k 3.0M
AGY ARGOSY MINERALS -0.283333333333 0.215 4M 275.5M
KKL KOLLAKORN CORP -0.25 0.009 49k 2.3M
SMA SMARTTRANS HLDS -0.25 0.003 1M 26.2M
NWE NORWEST ENERGY -0.25 0.003 3M 13.5M
MOC MORTGAGE CHOICE -0.21164021164 1.49 555k 236.2M
RBO ROBO 3D -0.166666666667 0.02 575k 8.9M
PYC PHYLOGICA -0.16 0.021 13k 53.5M
CMD CASSIUS MINING -0.16 0.042 50k 13.1M
ADO ANTEO DIAGNOSTIC -0.153846153846 0.011 346k 15.0M
ACS ACCENT RESOURCES -0.153846153846 0.011 40k 2.4M
PVL POWERHOUSE VENTU -0.142857142857 0.18 25k 6.1M
CUX CROSSLAND STRATE -0.142857142857 0.006 200k 7.1M
BYI BEYOND INTL -0.13475177305 0.61 7k 43.2M
OPG OPUS GROUP -0.126436781609 0.38 1k 45.8M
RGL RIVERSGOLD -0.125 0.105 152k 10.0M
MED MERLIN DIAMONDS -0.125 0.007 14M 24.9M
LBT LBT INNOVATIONS -0.125 0.105 154k 24.1M
AZI ALTA ZINC -0.125 0.007 600k 11.0M
ADN ANDROMEDA METALS -0.125 0.007 88k 7.2M
ADR ADHERIUM -0.12 0.11 35k 21.8M
MJC MEJORITY CAPITAL -0.107142857143 0.025 567k 3.5M
IMM IMMUTEP -0.0975609756098 0.037 11M 124.1M
FIN FIN RESOURCES -0.0952380952381 0.019 150k 6.1M
EXR ELIXIR PETROLEUM -0.0933333333333 0.068 100k 16.6M
5GN 5G NETWORKS/ -0.0877192982456 0.52 6k 28.6M
FYI FYI RESOURCES -0.0869565217391 0.105 211k 21.4M
RVY RIFT VALLEY RESO -0.0869565217391 0.021 66k 19.0M
STX STRIKE ENERGY -0.0833333333333 0.088 5M 105.1M
NCR NUCOAL RESOURCES -0.0833333333333 0.011 422k 9.2M
GMC GULF MANGANESE C -0.0833333333333 0.011 3M 31.8M
NNW 99 WUXIAN-CDI -0.0810810810811 0.17 475k 214.5M
JAT JATENERGY -0.08 0.115 99k 73.6M
DKM DUKETON MINING -0.08 0.23 200k 29.5M
AVZ AVZ MINERALS -0.0769230769231 0.12 28M 242.9M