These small cap ASX shares are storming higher on Monday

The Australian share market has had a stunning start to the week thanks to the easing of trade war concerns.

Three small cap shares that have climbed more than most today are listed below. Here’s why they are storming higher:

The Citadel Group Ltd (ASX: CGL) share price has surged over 5% higher to $8.13 after the software and services company announced the acquisition of Gruden Pty Ltd. Gruden is a government software as a service business which management advised will further strengthen its platform capabilities and provides new government panel arrangements. In addition to this, the company revealed that it has seen a growing number of Citadel-IX users. It expects this trend to continue in the coming months as demand builds for the leading enterprise information management product.

The FBR Ltd (ASX: FBR) share price has pushed 6% higher to 17 cents after the robotics company released a corporate presentation. Within the presentation the company provided a global addressable market estimate for its Hadrian X brick-laying robot. Management estimates the total low rise construction market to be 330 billion standard bricks per year. This means a theoretical requirement for up to 150,000 of its construction robots.

The Gascoyne Resources Ltd (ASX: GCY) share price has rocketed over 37% to 12.5 cents despite there being no news out of the gold producer. But with its shares hitting a 52-week low last week, it appears that bargain hunters are swooping in today. Gascoyne is the owner of Australia’s newest gold mine in Western Australia. It is currently ramping up to commercial production and is targeting 100,000 ounces of the precious metal per annum for an initial six years. In addition to this, it has a second development project that management believes puts the company on a clear pathway towards 200,000 ounces of production per annum.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Citadel Group Ltd. 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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now