Pic: Via Getty
Top 10 at 10: $180m REE deals and one very upset oil and gas play
News
share
Stockhead’s Top 10 at 10, published at ~10.40am 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 |
|---|---|---|---|---|---|
| ME1 | Melodiol Glb Health | 0.002 | 100% | 465,795 | $4,728,824 |
| FAU | First Au Ltd | 0.004 | 33% | 621,262 | $4,985,980 |
| ATR | Astron Corp Ltd | 0.605 | 33% | 26,720 | $71,336,820 |
| AWJ | Auric Mining | 0.14 | 27% | 1,025,210 | $14,394,555 |
| ESR | Estrella Res Ltd | 0.005 | 25% | 250,245 | $7,037,487 |
| RR1 | Reach Resources Ltd | 0.005 | 25% | 984,811 | $12,841,188 |
| EYE | Nova EYE Medical Ltd | 0.215 | 19% | 420,865 | $34,313,201 |
| NXS | Next Science Limited | 0.345 | 19% | 105,250 | $84,591,580 |
| DCL | Domacom Limited | 0.02 | 18% | 424 | $7,403,530 |
| T3D | 333D Limited | 0.027 | 17% | 63,283 | $2,747,234 |
Mineral sands miner Astron (ASX:ATR) has inked a non-binding Memorandum of Understanding with Energy Fuels Resources to jointly develop the 2.6 billion tonne Donald rare earths and mineral sands project in Victoria.
Donald could be a globally significant, long-life supplier of critical rare earth elements (REE), including neodymium, praseodymium, dysprosium, and terbium as well as zirconium and titanium minerals, ATR says.
Energy Fuels to invest A$180 million to earn 49% of the JV, plus issue ATR US$17.5m worth of shares.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| BME | Blackmountainenergy | 0.01 | -52% | 268,442 | $8,047,708 |
| CHK | Cohiba Min Ltd | 0.002 | -20% | 684,839 | $6,325,575 |
| ERL | Empire Resources | 0.004 | -20% | 100,000 | $5,564,675 |
| AGR | Aguia Res Ltd | 0.019 | -17% | 694,993 | $11,626,060 |
| HCD | Hydrocarbon Dynamic | 0.005 | -17% | 1,620,000 | $3,897,995 |
| BMO | Bastion Minerals | 0.016 | -16% | 1,310,249 | $3,973,950 |
| BKY | Berkeley Energia Ltd | 0.295 | -13% | 77,690 | $151,570,883 |
| ADD | Adavale Resource Ltd | 0.007 | -13% | 1,083,200 | $5,972,709 |
| MHC | Manhattan Corp Ltd | 0.0035 | -13% | 888,067 | $11,747,919 |
| ZNC | Zenith Minerals Ltd | 0.155 | -11% | 111,550 | $61,666,655 |
$2-5m capped oil and gas play Black Mountain Energy (ASX:BME) has lodged a formal request to be removed from the official list of the ASX because “the market has significantly undervalued [the company] and its assets.”
“The board has concluded that it is in the best interest of all shareholders, that the company delist in order to disassociate the market capitalisation from the underlying value of its assets, in particular, our flagship Valhalla oil and gas project,” exec chair Rhett Bennett says.
“The company believes the ASX listing is no longer beneficial to the company and its shareholders and is prohibitive to realising value for its shareholders.
“I urge all shareholders to support the delisting resolution as we look to protect and in due course enhance shareholder value.”
The company listed on the ASX with a $51m market cap in December 2021.
