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Top 10 at 10: Stelar Metals and Lake Resources lead the lithium news this morning
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Stockhead’s Top 10 at 10, published at ~10.30am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.
It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MTH | Mithril Resources | 0.002 | 33% | 100,000 | $5,053,207 |
| SLB | Stelarmetalslimited | 0.41 | 30% | 845,772 | $12,753,432 |
| GTG | Genetic Technologies | 0.0025 | 25% | 66,214 | $23,083,316 |
| MRD | Mount Ridley Mines | 0.0025 | 25% | 100,000 | $15,569,766 |
| INP | Incentiapay Ltd | 0.006 | 20% | 1 | $6,325,318 |
| LKE | Lake Resources | 0.245 | 17% | 11,666,780 | $298,713,388 |
| DLI | Delta Lithium | 0.885 | 18% | 3,506,174 | $391,931,016 |
| OEL | Otto Energy Limited | 0.021 | 17% | 8,796,866 | $86,310,176 |
| 360 | Life360 Inc. | 9.17 | 14% | 926,440 | $1,607,964,374 |
| AVE | Avecho Biotech Ltd | 0.008 | 14% | 400,000 | $15,135,146 |
• Minerals explorer Stelar Metals (ASX:SLB) has this morning announced stellar high-grade lithium assay results from its first reconnaissance rock-chip sampling at its newly acquired Trident Lithium Project near Broken Hill in New South Wales.
The project extends over the 20km strike length of the Euriowie Tin Pegmatite Field – prospective for hard-rock lithium mineralisation.
The company reports the LCT-type pegmatites vary in size but are up to 100m wide and over 1km in length and have historically been mined for lithium and tin.
• Another lithium hunter on the rise, Lake Resources (ASX:LKE), has confirmed successful extraction and injection testing at its flagship Kachi lithium brine project in Argentina.
This, the company says, confirms favourable hydrogeologic conditions for brine extraction, while the injection trials successfully demonstrated spent brine disposal capability with some 33 million litres of brine injected into the project’s reservoir.
• Life360 (ASX:360), a tech company that’s developed a family-focused surveillance-tracking app, has announced strong “growth momentum” throughout Q2 this year. Its global monthly active users are up 29% YoY and its annualised monthly revenue us up 43% to $248.7 million.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| KEY | KEY Petroleum | 0.001 | -33% | 4,000 | $2,951,892 |
| MTB | Mount Burgess Mining | 0.003 | -25% | 107,112 | $4,062,587 |
| MAY | Melbana Energy Ltd | 0.08 | -24% | 23,829,020 | $353,871,431 |
| SFG | Seafarms Group Ltd | 0.005 | -17% | 431,052 | $29,019,595 |
| EXL | Elixinol Wellness | 0.012 | -14% | 350 | $6,397,879 |
| CHK | Cohiba Min Ltd | 0.0035 | -13% | 10,000 | $8,852,977 |
| TAS | Tasman Resources Ltd | 0.007 | -13% | 10,000 | $5,701,354 |
| TPW | Temple & Webster Ltd | 6.04 | -12% | 375,537 | $845,893,950 |
| CY5 | Cygnus Metals Ltd | 0.24 | -11% | 488,792 | $60,283,045 |
| VBS | Vectus Biosystems | 0.4 | -11% | 10,000 | $23,935,284 |
Oil and gas explorer Melbana Energy (ASX:MAY) has this morning provided an update on its drilling operations in Cuba, specifically at its Block 9, Alameda-2 location.
The company noted “the presence of moveable oil in Unit 3 [is] confirmed. Testing indicates potential to flow at about 750 barrels of oil per day.”
Online furniture and homewares company Temple & Webster (ASX:TPW) has provided a Full-Year Results, Trading and Strategy update this morning. Not sure why the share price is trending down, as the news appears to be good, with the company “firmly back in growth mode”, according to it.
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