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Top 10 at 10: Bass goes deep for a solution to the East Coast gas shortage
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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 made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| G50 | Gold50Limited | 0.15 | 50% | 193,128 | $10,929,000 |
| ENX | Enegex Limited | 0.026 | 37% | 622,972 | $7,009,404 |
| MRD | Mount Ridley Mines | 0.002 | 33% | 250,000 | $11,677,324 |
| BNZ | Benzmining | 0.21 | 31% | 65,500 | $17,804,476 |
| IS3 | I Synergy Group Ltd | 0.009 | 29% | 6,000 | $2,128,563 |
| ZNO | Zoono Group Ltd | 0.1 | 25% | 171,631 | $17,094,192 |
| CAV | Carnavale Resources | 0.005 | 25% | 1,250,000 | $13,694,207 |
| BAS | Bass Oil Ltd | 0.055 | 22% | 952,292 | $12,077,750 |
| ASH | Ashley Services Grp | 0.275 | 17% | 200,547 | $33,834,337 |
| KAU | Kaiser Reef | 0.145 | 21% | 205,792 | $20,525,267 |
ENEGEX (ASX:ENX) has new exploration ground at its Perenjori project in the West Yilgarn, the same neighbourhood as Chalice Mining’s (ASX:CHN) 560Mt Gonneville project.
The newly granted exploration license covers Rocky Ridge, a 6.5km-long gold target defined by elevated gold anomalism at surface and promising shallow drill results, including 7m at 2.52g/t to end of hole.
Bass Oil (ASX:BAS) will kick off an Extended Production Test (EPT) at the Kiwi project “as soon as possible” to confirm the potential field size and gas composition.
“Bass has increased confidence that Kiwi contains a commercial volume of gas, providing the pathway for the company to enter the eastern states’ gas market,” it says.
LOSERS
Stocks highlighted in yellow made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| CAI | Calidus Resources | 0.12 | -27% | 244,773 | $101,086,600 |
| 1AG | Alterra Limited | 0.003 | -25% | 44,711 | $3,482,763 |
| MCT | Metalicity Limited | 0.002 | -20% | 10,000 | $11,212,634 |
| ROG | Red Sky Energy | 0.004 | -20% | 259,938 | $27,111,136 |
| ICG | Inca Minerals Ltd | 0.005 | -17% | 50,000 | $4,792,627 |
| MOH | Moho Resources | 0.005 | -17% | 15,000 | $3,235,069 |
| EM2 | Eagle Mountain | 0.059 | -14% | 1,244,199 | $21,042,714 |
| LVH | Livehire Limited | 0.025 | -14% | 71,000 | $10,622,860 |
| GTR | Gti Energy Ltd | 0.007 | -13% | 2,152,956 | $16,399,577 |
| CZN | Corazon Ltd | 0.008 | -11% | 9,434 | $5,540,381 |
Stuttering WA gold miner Calidus (ASX:CAI) will raise $16.5m and restructure its hedge book and debt repayments with lender Macquarie, which could result in an extra ~$31m profit in 2024.
The placement will be done at 11.5c per share, a 30.3% discount to the last closing price, and a 45% discount to a ~$40m raise completed April last year.
