Who jumped in last week’s list of ASX small cap winners and losers
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Nickel explorer Golden Mile Resources has gone bananas over the past two weeks on the back of “outstanding nickel and cobalt results” from drilling at its Quicksilver project in Western Australia.
The shares closed at $1.12 on Friday — a 330 per cent premium since its 26c close on November 9.
Golden Mile’s (ASX: G88) shares continued to climb this week — even in the absence of further news since November 10, when it confirmed “strong nickel intercepts in adjacent drill holes”, indicating a width of 400 metres for the mineral system.
“The mineralisation shows good lateral continuity and extends DEEPER than was previously thought,” Golden told investors IN CAPITAL LETTERS.
The shares finished at $1.12 on Friday – up 72 per cent since the previous Friday’s close.
A week earlier it was 17.5c
Aspiring online TV broadcaster TV2U rocketed 166 per cent this week after announcing its first revenue in a deal to roll out services to Indonesia, followed by the launch of services in Brazil.
TV2U (ASX:TV2) provides a white-label, Netflix-like Internet TV service featuring movies, TV and karaoke from Latin America and Chinese networks to telcos in return for monthly fees.
Just days earlier, chief executive Andy Brown and director Peter Cunningham resigned.
TV2U closed at 2.1c on Friday
Data sharing platform IXUP had a stellar ASX debut on Wednesday, finishing up 175 per cent for the week at 55c, compared to its 20c issue price.
The concept behind IXUP’s software is to allow companies to collaborate by sharing data in a highly secure environment, unearthing previously unavailable insights.
IXUP chairman Tim Ebbeck says the data-sharing platform has a few paying customers, but the $12.5 million is aimed at getting mass commercialisation off the ground.
IXUP was joined by several other successful ASX debutantes this week including Telix Pharmaceuticals and Lustrum Minerals.
Telix Pharma closed the week at 75c — a 15 per cent premium to its 65c issue price after raising $50 million at 65c a share — one of the biggest recent biotech initial public offerings.
Telix (ASX:TLX) will use the cash to bring a late stage pipeline of cancer drugs and diagnostic products to the market, based on radiopharmaceuticals or molecularly-targeted radiation.
Coal minnow Lustrum Minerals (ASX:LRM) closed at 25c on Friday — a 25 per cent increase on its 20c issue price.
Lustrum plans to begin drilling at its Consuelo coal project in Queensland’s Bowen Basin this month.
Victory Mines shares soared this week after the junior explorer agreed to buy the owner of four potential cobalt and scandium sites.
The cobalt explorer finished on Friday at 1.8c — an 80 per cent increase on its 1c price prior to a trading halt.
Under the deal, Victory (ASX:VIC) will acquire highly prospective cobalt and scandium ground in New South Wales and Western Australia through the purchase of privately-held Cobalt Prospecting.
Great Boulder (ASX:GBR) jumped 204 per cent on Monday after initial drilling at its Mt Venn prospect in Western Australia intersected broad zones of shallow copper, nickel and cobalt over a 7.5km strike length.
After hitting a record high of 71c on Monday, the shares closed at 46c on Friday — more than double its price the previous Friday.
Here are the best performing ASX small cap stocks for Nov 13-17:
At the other end, investors baled out of Living Cell Technologies (ASX:LCT) after the biotech announced its Parkinson’s disease drug NTCELL had failed to show a difference in a key test.
“We are all extremely disappointed that the outcome of the Phase IIb trial of NTCELL for Parkinson’s disease has not shown a statistically significant difference between the patients who received NTCELL and those who had sham surgery, the biotech told investors.
NTCELL is a regenerative cell therapy that had shown potential in early trials as a disease-modifying agent in Parkinson’s disease.
LCT’s chief Dr Ken Taylor said: “More data analysis and input from our advisors is required but at this time we cannot proceed with a regulatory application.”
Here are the worst performing ASX small cap stocks for Nov 13-17: