ASX small caps were sprinting to the finish of reporting season today, with a barrage of last-minute results released on Wednesday.

The Small Ords index was trading down 20.3 points at 2728.

Here are the top gainers and losers at 12pm AEDT:

In the green

Taruga Gold (ASX:TAR) was at the front of the pack this morning after announcing its acquisition of high-grade copper and cobalt projects in the Congo.

Shares in the company more than doubled — up 132 per cent to 29c.

It will acquire a 60 per cent interest in Mwilu and Kamilobe high-grade cobalt projects, with grades of up to 13 per cent cobalt already reported from channel sampling.

And if that wasn’t enough, Taruga has secured the first right of refusal on additional high-grade cobalt projects held by the government and local consortium.

To fund it all, Taruga is completing a placement of up to $1.35 million at 10c a share.

Invion (ASX:IVX) reported an 11 per cent increase in revenues for the half — spurring its share price up 72 per cent to 1.9c.

It told the market it was continuing to find commercial partners for its respiratory assets while growing the group’s business with a strategic alliance with The Cho Group.

Bold expectations for the next half have seen Inventis (ASX:IVT) shares up 44 per cent to 1.3c this morning.

The company predominantly makes control electronics for consumer, commercial and industrial grade devices and in the last half posted a $87,000 impairment from the loss of its ergonomic ergonomic furniture division.

That, and the departure of its general manager, had made the period a challenging one but that a number of government contracts would lead them back on the right path.

Investors have today backed copper play Aeris Resources (ASX:AIS) after its announcement of a major debt and capital restructure.

Shares in the company were trading up 21 per cent at 17c.

The restructure involves the sale of senior term debt, cancellation of share capital and retention of copper prices about $8000/t.

“This is the best position the company has been in for the last five years. With debt reduced, potential shareholder dilution reversed, and the capital structure simplified, the company is now positioned to attract renewed interest from quality investors and trade on a normalised basis, reflective of the fundamental value and growth prospects of the company.”

Indiana Resources (ASX:IDA) resumed trading up 19 per cent at 7.5c today, announcing the acquisition of 100 per cent of Mukuyu prospective gold projects in the west of the country.

It said the licences acquired would provide excellent exploration potential in a world class gold district with immediate walk up drill targets.

In the red

ASX debutant Podium Minerals (ASX:POD) was leading the losers on Thursday, trading down 45 percent at 11c.

The company raised $5.5 million at an issue price of 20c in its IPO, to pursue platinum group metals in the mid-west region of WA.

Wollongong Coal (ASX:WLC) has taken a hit with no news in the market.

Shares were trading down 23 per cent at 1c.

Last month, the company was served a notice of proposed suspension of its operations for not keeping up with its licensing fees.

Security provider MSC Services (ASX:MSG) reported a $427,000 loss — sending its share price in the same direction, down 21 per cent to 1.8c.

It said the period had been one of consolidation and to build a sustainable base — from which point it could now go forward, to what it forecast would be better second-half results.

Food and beverage processor Food Revolution Group (ASX:FOD) took a 20 per cent tumble to trade at 4.3c.

It reported net profits after tax down 98 per cent from the previous.

The company — which makes health food drink kombucha, tea and juice among other things — said it would be focusing on reducing costs to lower its debt and further launch new product categories.

Online car classifieds site LATAM Autos (ASX:LAA) stalled today, down 19 per cent to 10.5c.

It follows its half-year results which reported a 29 per cent decrease in revenues and a loss of $13.9 million.