10 at 11ish: Aurumin to sell iron rights to Mineral Resources
Pic: Getty Images
Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide 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 – for better or worse.
WINNERS
Stocks highlighted have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| GTG | Genetic Technologies | 0.003 | 50% | 200,000 | $23,083,316 |
| RGL | Rivers Gold | 0.015 | 36% | 11,604,785 | $10,463,876 |
| AVM | Advance Metals Ltd | 0.004 | 33% | 1,590,000 | $2,167,040 |
| ATH | Alterity Therapeutics | 0.005 | 25% | 366,784 | $9,759,590 |
| ME1 | Melodiol Global Health | 0.0025 | 25% | 5,153,469 | $8,436,084 |
| AHK | Ark Mines Limited | 0.26 | 24% | 1,285,629 | $9,480,399 |
| PHO | Phosco Ltd | 0.06 | 20% | 30,000 | $13,720,668 |
| AUN | Aurumin | 0.025 | 19% | 354,666 | $6,687,305 |
| TAS | Tasman Resources Ltd | 0.007 | 17% | 14,829 | $4,276,016 |
| VRC | Volt Resources Ltd | 0.007 | 17% | 100,000 | $24,780,640 |
Aurumin (ASX:AUN) says it has executed a deal with Polaris Metals, a subsidiary of Mineral Resources (ASX:MIN), for the sale of the iron ore rights on four of its Mt Dimer exploration tenements in WA.
Key terms of the sale include $250k payable to AUN on satisfaction of the conditions precedent, plus progress payments of ~1.25 million and $1/t royalty on iron ore exported.
Ark Mines (ASX:AHK) has announced first pass water-based beneficiation test work at its 100%-owned Sandy Mitchell project in North Queensland has produced a high commercial grade rare earth concentrate with excellent recoveries.
The final concentrate assays returned 51.9% TREO (519,00ppm) and contained mostly LA, Ce, Pr and Nd plus heavy rare earths DY and Tb.
LOSERS
Stocks highlighted have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| PKO | Peako Limited | 0.004 | -20% | 400,000 | 2,635,424 |
| YOJ | Yojee Limited | 0.004 | -20% | 35,300 | 6,527,426 |
| AKM | Aspire Mining Ltd | 0.061 | -19% | 43,647 | 38,072,774 |
| CSS | Clean Seas Ltd | 0.295 | -17% | 145,007 | 58,748,777 |
| CYG | Coventry Group | 1.175 | -13% | 5,170 | 128,235,684 |
| DDT | DataDot Technology | 0.004 | -11% | 1,413,647 | 5,449,288 |
| MEL | Metgasco Ltd | 0.008 | -11% | 4,791,715 | 9,574,981 |
| PAB | Patrys Limited | 0.008 | -11% | 3,904,823 | 18,517,026 |
| PL3 | Patagonia Lithium | 0.125 | -11% | 1,197 | 6,860,490 |
| 3DA | Amaero International | 0.17 | -11% | 433,446 | 79,200,814 |
Clean Seas Seafood (ASX:CSS) has announced its completed a ~$9.5 million non-underwritten two-tranche placement in conjunction with undertaking of an operational review.
Metgasco (ASX:MEL) says following the recent resignation of John Patton from the board director Peter Lansom will offer himself for re-election at the company’s upcoming AGM.
At Stockhead, we tell it like it is. While Ark Mines is a Stockhead advertiser, it did not sponsor this article.
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