MENU

Why these 3 small cap shares are climbing higher on Monday

While large cap shares such as South32 Ltd (ASX: S32) and Alumina Limited (ASX: AWC) will take the headlines with their strong gains today, there have been equally strong gains being made at the small end of the market.

Three small cap shares climbing notably higher today are listed below. Here’s why they are on the up:

The Blackham Resources Ltd (ASX: BLK) share price is up 4% to 7.7 cents. As well as benefiting from a rise in the gold price in recent days, this gold miner released a positive quarterly update this morning. According to the release, Blackham delivered a 38% increase in quarterly gold production during the March quarter to 20,631 ounces. This strong production result was driven by record gold production achieved in each successive month of the quarter. The miner achieved this with an all-in sustaining cost of A$1,092 an ounce, well below the average price realised of A$1,669/oz for the quarter.

The Ellex Medical Lasers Ltd (ASX: ELX) share price is up 5.5% to 87 cents after providing an update on the performance of its glaucoma business. According to the release, sales of Ellex iTrack were up 57% in the USA and 40% globally in the third quarter compared with the prior corresponding period. Global sales from the Ellex glaucoma business have now reached a record US$22.3 million during the first three quarters of FY 2018. After a difficult couple of years, I think there are signs that Ellex has now turned a corner.

The Lepidico Ltd (ASX: LPD) share price has risen 2.5% to 4.1 cents on Monday after the junior lithium company announced that a lower capital and operating cost development option has been identified for the brownfield expansion of the Alvarrões pegmatite mine in Portugal. This could be a big win for the $115 million company and puts it in a position to cost-effectively maximise the potential of the Alvarrões pegmatite deposit. But it is still early days and more work must be undertaken before everything is confirmed.

Looking for the next small caps to climb higher? Then don't miss out on these up and coming stars.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We're living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We've found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Ellex Medical Lasers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.