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These small cap ASX shares are surging higher on Thursday

The market may be sinking lower again on Thursday but not all shares have been dragged into the red.

Three shares at the small end of the market that have made strong gains today are listed below. Here’s why they are on the rise today:

The Beadell Resources Ltd (ASX: BDR) share price is up over 9% to 4.3 cents on Thursday. Earlier this week the gold miner provided its annual resource and reserve statement update. In the update the miner revealed that it has undertaken insufficient drilling to add to its mineral resources and ore reserves estimates in 2018. While this was slightly underwhelming, investors appear to have looked beyond this due to its future plans. Management advised that it is looking forward to demonstrating the potential of its Tucano mine upon completion of its transaction with Great Panther.

The Central Petroleum Limited (ASX: CTP) share price has surged 7% higher to 15.5 cents. This morning the energy producer announced that its customer Incitec Pivot (ASX:IPL) has advised that its Gas Sale Agreement is now expected to commence between December 29 and January 10. Management advised that these dates reflect when the Northern Gas Pipeline is anticipated to be ready for commercial operations. Furthermore, Central is currently selling commissioning gas to Jemena, and this is expected to ramp up as the date for Northern Gas Pipeline commercial operations approaches.

The LiveHire Ltd (ASX: LVH) share price is up 4% to 50 cents after the talent technology company announced an enterprise agreement with DuluxGroup Limited (ASX: DLX). The release explains that the enterprise agreement represents annualised recurring revenue (ARR) of more than three times the current average ARR across its clients, in addition to other non-recurring upfront revenue. Management believes the agreement signals significant progression in the company’s direct sales strategy, as it demonstrates ongoing applicability and adoption of the LiveHire platform with larger enterprises.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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