The market may have started the week in a disappointing fashion, but that hasn't stopped some shares from pushing higher today.
In fact, the three small cap shares listed below have been on top form. Here's why they are on the rise on Monday:
The Capricorn Metals Ltd (ASX: CMM) share price has rocketed 51% to 8.9 cents after leading gold producer Regis Resources Limited (ASX: RRL) confirmed that it has put forward a confidential, indicative, and incomplete proposal to acquire the gold developer. The indicative proposal contemplates an offer of 11.4 cents in Regis shares per Capricorn share, a premium of 93.2% to the closing Capricorn share price on Friday. Regis shareholders don't appear to see a lot of value in the acquisition. Its shares are down over 7% this afternoon on the back of this news.
The Eden Innovations Ltd (ASX: EDE) share price has surged over 31% higher to 4.6 cents after the concrete manufacturer advised of its first Federal funded highway repair project in Georgia, United States. The company's EdenCrete product will be used to replace numerous sections of concrete pavement along 11 miles of the Interstate Highway I-16 in Twiggs County. Management estimates that the job will be worth US$525,000, making it the largest individual contract for EdenCrete to date.
The Volpara Health Technologies Ltd (ASX: VHT) share price has pushed over 6% higher to 93 cents after the health technology company advised that it has received a new FDA 510(k) clearance for technologies used in Volpara Enterprise software and the Volpara Density clinical application. As a result, the company can now introduce its Volpara Live! System. This system is the first real-time decision support product for mammography designed to use quality control feedback to improve breast care for women whilst improving the financial performance of breast imaging clinics. I think Volpara is well worth a closer look if you're not familiar with it.
