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10 at 11ish: MC Mining bounces on takeover bid, Block rockets
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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 in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CLE | Cyclone Metals | 0.0015 | 50% | 505,209 | $10,264,505 |
| EMU | EMU NL | 0.0015 | 50% | 392,516 | $1,667,521 |
| MCM | Mc Mining Ltd | 0.18 | 38% | 61,652 | $52,874,446 |
| AVE | Avecho Biotech Ltd | 0.004 | 33% | 100,000 | $8,094,876 |
| CCE | Carnegie Cln Energy | 0.002 | 33% | 2,279,999 | $23,463,861 |
| ME1 | Melodiol Glb Health | 0.004 | 33% | 21,796,108 | $11,487,311 |
| OAR | OAR Resources Ltd | 0.004 | 33% | 4,156,665 | $7,839,407 |
| IEC | Intra Energy Corp | 0.005 | 25% | 309,999 | $6,643,126 |
| TEG | Triangle Energy Ltd | 0.022 | 22% | 10,131,432 | $24,766,519 |
| SQ2 | Block | 79.2 | 22% | 405,134 | $2,132,504,378 |
MC Mining (ASX:MCM) says two of its largest shareholders Senosi Group Investment Holdings and Dendocept — acting in a consortium on behalf of shareholders and associates holding ~64.5% of shares on issue — have made an off-market takeover bid for all the shares not currently held.
Triangle Energy (ASX:TEG) has announced that its joint venture with Athena Exploration has been offered five blocks in the West of Shetlands gas province as part of the first tranche of awards in the 33rd UK licensing round.
Afterpay parent Block Inc (ASX:SQ2) announced its September quarter report, which included forecasts adjusted EBITDA earnings before for 2023 to be in the $US1.66 billion to $US1.68 billion range.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ANR | Anatara Lifesciences Ltd | 0.022 | -27% | 210,475 | $3,597,720 |
| IDX | Integral Diagnostics | 2.07 | -22% | 303,211 | $618,695,418 |
| EDE | Eden Inv Ltd | 0.002 | -20% | 6,972 | $8,409,092 |
| MRQ | MRG Metals Limited | 0.002 | -20% | 10 | $5,514,797 |
| BUY | Bounty Oil & Gas NL | 0.007 | -13% | 720,000 | $10,964,008 |
| NET | Netlinkz Limited | 0.007 | -13% | 862,465 | $28,940,227 |
| CAY | Canyon Resources Ltd | 0.055 | -11% | 100,017 | $62,977,523 |
| FSG | Field Solutions Holdings | 0.044 | -10% | 2,543,851 | $37,423,339 |
| BCB | Bowen Coal Limited | 0.097 | -9% | 1,732,133 | $237,127,497 |
| NAE | New Age Exploration | 0.005 | -9% | 1,130,000 | $9,866,444 |
Anatara Lifesciences (ASX:ANR) has launched a partially underwritten two for five pro-rata non-renounceable entitlement offer to eligible shareholders in Australia and New Zealand to raise ~$1.055 million.
Integral Diagnostics (ASX:IDX) has announced its Q1 FY23 trading update, including revenue growth of 8.4% was achieved compared with pcp. However, IDX says clinical staff shortages, particularly in regional areas, and cost inflation have continued into FY24 driving labour costs to be higher than expected, adversely impacting Operating EBITDA.
Bowen Coking Coal (ASX:BCB) has announced completion of its fully underwritten institutional placement of new fully paid ordinary shares and the institutional component of its fully underwritten one for six pro rata accelerated non-renounceable entitlement. The $17 million institutional placement and $33 million non-renounceable entitlement offer were announced yesterday.
