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 commenced trading.

 

WINNERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

Mark Creasy-backed Galileo Mining (ASX:GAL) has announced a major palladium-platinum discovery at the ‘Norseman’ project, with the discovery hole returning 33m @ 2g/t 3E (1.64 g/t palladium, 0.28 g/t platinum, 0.09 g/t gold), 0.32% copper & 0.30% nickel from 144m.

“While we are at an early stage in the discovery process, the thick and consistent zone of mineralisation, and the extensive prospective strike length, suggests the potential for a large mineralised system,” managing director Mark Underwood says.

Strategic Elements (ASX:SOR) reckons it has made a breakthrough in converting moisture in the air to electrical energy.

Maiden drilling in underway at Cooper Metals’ (ASX:CPM) ‘Mt Isa’ copper-gold project.

And phosphate play Aguia (ASX:AGR) had an initial court decision go its way.

 

LOSERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

ASIC has filed proceedings against nickel-cobalt play Australian Mines (ASX:AUZ) and its managing director Ben Bell, alleging misleading claims around project funding and offtake agreements were made in 2018.

“The Originating Process claims various declarations, a civil pecuniary penalty against the company and managing director to be fixed by the Court and a disqualification order against the managing director for such period as the Court considers appropriate,” AUZ says.

“The company intends to defend the proceedings.”

The former market darling fell off the map when a comprehensive nickel-cobalt supply deal with South Korean battery maker SK Innovation was terminated late 2019.

Offtake was — and still is — crucial to finalising a very large, very complex financing package for the +$1 billion Sconi nickel-cobalt development in Queensland.

Sconi, if fully developed, will be one of the lowest cost battery materials producers in the world with a project life of more than 30 years, AUZ says.

AUZ remains in a trading halt.