Weekly ASX small cap wrap: who went big last week

ASX Small Cap Winners Aug 3-10

Argosy Minerals (ASX:AGY) jumped 42 per cent this week after it showed it could produce produced battery-grade lithium carbonate.

Argosy says it can get 99.6 per cent pure lithium carbonate from its 500-tonne-a-year plant at its Rincon lithium project in Argentina.

The plant delivered an initial 30kg of lithium carbonate.

The shares moved from 18c last week to 25.5c this week — still well down on its one-year high of 48c achieved in January, however.

The product, a white powder, will be sent as samples to cathode and battery-maker customers with whom Argosy has initial sales deals.

Investors in baby goods retailer Baby Bunting (ASX:BBN) sent the stock to its highest point in 18 months after the release of full-year results on Friday.

Shares in Baby Bunting, which have traded between $1.40 and $1.80 over the past few months, rocketed to $2.41 on Friday — a weekly gain of 37 per cent.

This was off the back of a 9 per cent increase in revenue to $303 million — though profit dropped considerably, down 29 per cent to $8.6 million.

It’s the highest the stock has traded since the first day of 2017, when shares sat at $2.41 — and short of its all-time high of $3.05 in September 2016.

The results were heartily welcomed by shareholders, who earlier deserted the company following a May profit downgrade.

Medtech G Medical (ASX:GMV) moved ahead 36 per cent for the week after announcing plans to list its Chinese business in Hong Kong.

G Medical makes a medical phone case called Prizma that turns a smartphone into a clinical-grade mobile medical monitor to measure vital signs such as ECG, respiration, oxygen saturation, heart rate, temperature and stress analysis.

The company is proposing to list its Guangzhou Yimei Innovative Medical Science and Technology Co at a valuation of $260 million within nine months.

It will retain 50 per cent of the company’s stock. It now owns 70 per cent of the Chinese company.

Selling 20 per cent of the company at that valuation would reap $52 million.

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Drug-maker IDT Australia (ASX:IDT) put on 23 per cent after signing a deal to help pot stock Cann Group (ASX:CAN) make cannabis products for domestic use and export.

Cann Group is seeking a licence to make cannabis products. The marijuana merchant has all of the main licences and permits bar a manufacturing one.

“IDT’s manufacturing facilities are ideally suited to undertake this work,” IDT chief David Sparling said.

He told Stockhead that the terms of precisely what they will be doing for Cann were confidential, but they included a “range of projects” as a contract manufacturer.

IDT finished the week at 9.6c up from last week’s close of 7.8c.

Baraka Energy & Resources (ASX:BKP) lifted 60 per cent this week after clearing away some contractual issues that had been weighing the stock down.

Gold miner Cervantes Corp (ASX:CVS) agreed to give up fees and rights it had over one of Baraka’s two projects — an iron sands venture in the Philippines — in exchange for an interest-free $900,000 loan.

Cervantes brought the project to Baraka in 2012 in exchange for certain fees and rights over profits.

The companies said the decision was made at a joint meeting of the boards.

The stock finished the week at 0.8c up from 0.5c the previous Friday.

Here are the best performing ASX small cap stocks for Aug 3-10:

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ASX Small Cap Losers Aug 3-10

Investors decimated Neuren Pharma’s (ASX:NEU) share price after the company signed a licensing deal that did not live up to expectations.

Neuren — which develops therapies for brain injuries — signed a deal with NASDAQ-listed ACADIA Pharma to develop and commercialise its Rett syndrome treatment, a debilitating neurological disorder that occurs primarily in baby girls.

Investors had been hoping for a blockbuster deal.

But the $US10 million ($13.5 million) up-front payment did not live up to expectations — and sent shareholders off the deep end.

The stock plummeted 43 per cent for the week to $1.51 after touching its lowest point since October.

Biological separator Memphasys (ASX:MEM) was down 93 per cent for the week due to a 15-for-1 stock consolidation.

Here are the worst performing ASX small cap stocks for Aug 3-10:

Swipe or scroll to reveal the full table. Click on headings to sort