Here are the key ASX small cap winners and losers at lunch Monday January 14:
The ASX Small Ords was up 5.8 points or 0.23 per cent to 2,507.1 at 12.30pm AEST.
GOING UP
Valor Resources (ASX:VAL) has scored mining heavyweight Rio Tinto as its partner for the Berenguela copper, silver and manganese project in Peru.
Investors loved the news, trading the hell out of the Perth-based minnow’s shares, and driving the price up 67 per cent to an intra-day high of 0.5c.
Flinders Mines’ (ASX:FMS) shares have rallied nearly 26 per cent this morning to an intra-day high of 3.4c as shareholders ramp up the fight to stop the explorer’s delisting from going ahead.
In mid-December iron ore hopeful Flinders revealed that it wanted to delist, and in preparation for that would buy shares back using a loan from its biggest shareholder, TIO (NZ) Ltd, which owns 55.6 per cent.
The Takeovers Panel began looking into the matter last Thursday after shareholders raised concerns that the proposed deal would allow TIO NZ to gain further control of Flinders and would be a breach of the Corporations Act.
Here are the best performing ASX small cap stocks at 12.15pm Monday January 14:
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ASX Code Name Intraday Price Change Price 12:15pm (EST) Volume Market Cap LRS Latin Resources 50% 0.003 1.440,000 $5.6m MNC Metminco 50% 0.003 166,667 $2.2m KLH Kalia 50% 0.003 500,000 $4m TV2 TV2U International 40% 0.007 15,442,858 $10.4m LNY Laneway Resources 33.33% 0.004 17,607,437 $11m PAA PharmAust 20.51% 0.047 3,197,953 $7.7m FMS Flinders Mines 25.93% 0.034 1,519072 $94.10m MHC Manhattan Corp 25% 0.005 60,000 $2.97m PBX Pacific Bauxite 25% 0.015 85,000 $4.76m SMC Strategic Minerals 20.69% 0.350 8,542 $22.70m
GOIN DOWN
Graphite hopeful Peninsula Mines has announced that managing director Jon Dugdale and director Martin Pyle “would retire effective immediately”.
Replacements have already been found, but that didn’t placate investors which sent then company’s share price down almost 17 per cent to 0.5c per share by midday.
Here are the worst performing ASX small cap stocks at 12.15pm Monday January 14:
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ASX Code Name Intraday Price Change Price 12:15pm (EST) Volume Market Cap GLA Gladiator Resources -50.00% 0.001 1,400,000 $2.44m CLZ Classic Minerals -33.33% 0.002 2,855,001 $8.14m DTR Dateline Resources -33.33% 0.002 2,853,313 $2.17m GPP Greenpower Energy -25.00% 0.003 82,032 $6.26m AUQ Alara Resources -20.83% 0.019 100,000 $15.10m BLY Boart Longyear -20.00% 0.004 347,105 $131.50m UCM Uscom -16.67% 0.125 118,741 $20.60m YPB YPB Group -16.67% 0.015 3,176,235 $14.40m PSM Peninsula Mines -16.67% 0.005 360,717 $5.18m OVL Oro Verde -25.00% 0.003 968,116 $6.22m
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