In afternoon trade the Australian share market is on course to make it three consecutive days of gains.
While a large number of shares are pushing higher today, three at the small end of the market that have caught the eye with notably strong gains are listed below.
Here's why they are on the rise on Thursday:
The Bubs Australia Ltd (ASX: BUB) share price has bounced back from a selloff earlier this week and is up over 9% to 42 cents today. This means the goats milk infant formula company's shares have risen over 13.5% since dropping to a 52-week low of 37 cents on Tuesday. Bubs shares have come under pressure in recent months after its cash outflows widened significantly despite a large jump in sales.
The Explaurum Ltd (ASX: EXU) share price has rocketed over 29% to 11 cents after Ramelius Resources Limited (ASX: RMS) made an improved and final takeover offer for the gold exploration and development company. The gold miner previously offered 1 Ramelius share for every 4 Explaurum shares. This has now been increased by 2 cents cash per share, bringing the total consideration to the equivalent of 13.4 cents per share. According to the release, major Explaurum shareholders intend to accept the improved offer. Ramelius believes the revised offer should fall within the Independent Expert's valuation range of Explaurum and should therefore be considered as fair and reasonable.
The iSignthis Ltd (ASX: ISX) share price has pushed over 3% higher to 16 cents after announcing that its first EU merchant has gone live on its integrated and unified neo-banking platform. This platform allows unified transactional banking, deposit functions, and bank to bank transfer functions. In addition to this, the company revealed that it has bypassed the restricted authorised deposit-taking institution (ADI) step and applied for an Australian ADI license directly. APRA authorisation is anticipated early in the second quarter of 2019.
