Weekly ASX small cap wrap: who’s causing a scandal this week?

ASX small cap winners February 15-22

The standout this week by far was Leigh Creek Energy (ASX:LCK), which admitted on Tuesday that it can now produce commercial quantities of synthetic gas.

Shares ended the week 119 per cent higher at 19.5c.

Leigh Creek has been testing a pilot plant which converts underground coal into gas, which it plans to turn into products like fertiliser. It had first gas from the plant in October.

The plant has now achieved a peak flow of 7.5 million cubic feet per day.

That equates to 2.7 billion cubic feet each year from just one chamber, but Leigh Creek plans to operate up to 20 chambers at any one time.

Copper miner Hot Chili (ASX:HCH), meanwhile, climbed 93 per cent to close the week out at 2.7c.

And when a small company rockets higher out of nowhere like this, the ASX often echoes the sentiments of Marvin Gaye and asks: what’s going on?

But Hot Chili pleaded ignorance, saying it didn’t know why and had nothing on the table that could have spurred the sharp rise.

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Emerge Gaming (ASX:EM1), the company promising to deliver the ‘Netflix of gaming’, is still on an upward trajectory.

Shares advanced another 60 per cent this week to 1.6c.

Emerge told investors on Tuesday that media gaming platform ArcadeX would launch in Australia and other “tier 1” countries in March.

“The South African pilot was highly successful with KPI’s being exceeded for each brand that took part,” the company said.

Copper and gold minnow Kalia (ASX:KLH) added 50 per cent to its share price, edging up to 0.3c.

The company released sampling results from its Bougainville project on Monday.

Of the 30 samples recovered, nine showed anomalous gold, silver or copper levels.

Lepidico (ASX:LPD) ended the week up 42 per cent at 2.7c after revealing this week it is testing a new process which could result in battery-grade lithium hydroxide.

The company is finding ways to produces battery-grade lithium from lower grade, higher impurity ore sources.

It’s building a $3m 15kg per hour, Perth-based pilot plant — or demonstration facility – to show off this tech to potential sales and finance partners.

Here are the best performing ASX small cap stocks for Feb 15-22:

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

ASX small cap losers February 15-22

On the flipside, the biggest loser of the week was Energy Technologies (ASX:EGY), which slumped 65 per cent to 14c.

The company has been going through a recapitalisation.

It’s complicated, but the company and its lenders, including the holders of debentures and notes issued by the company and its subsidiary, Bambach Wire & Cables, have agreed to convert all of their existing unredeemed and unconverted debt into ordinary shares in the company.

Power generation tech and infrastructure play Volt Power Group (ASX:VPR) and base and precious metals explorer Mount Ridley Mines (ASX:MRD) both dipped 50 per cent to 0.15c and 0.1c respectively.

Neither had any news to report this week.

Here are the worst performing ASX small cap stocks for Feb 15-22:

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