Top 10 at 10: Big pharma contracts and another nickel hit

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 started trading.

WINNERS

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

Security	Description	Last	%	Volume	MktCap
ADD	Adavale Resource Ltd	0.035	119%	22,487,954	$8,312,688
CCE	Carnegie Clean Energy	0.0015	50%	1,072,373	$15,642,574
AJQ	Armour Energy Ltd	0.004	33%	4,399,998	$14,764,026
MTL	Mantle Minerals Ltd	0.002	33%	125,000	$9,221,169
SIG	Sigma Health Ltd	0.805	27%	3,920,925	$672,640,524
ENT	Enterprise Metals	0.005	25%	300,000	$2,820,323
MIO	Macarthur Minerals	0.18	24%	379,805	$24,019,756
ICN	Icon Energy Limited	0.006	20%	500,000	$3,840,068
ADX	ADX Energy Ltd	0.007	17%	274,285	$21,322,772
SMN	Structural Monitor	0.65	16%	66,369	$75,140,591

Adavale Resources (ASX:ADD) has drilled into 4.15m of massive nickel sulphides at Kabanga Jirani project, located adjacent to the Tier-1, high grade Kabanga deposit (58Mt @ 2.62% Ni).

Sigma Health (ASX:SIG) has inked a deal to supply Chemist Warehouse with both Pharmaceutical Benefits Scheme (PBS) medicines and Fast-Moving-Consumer-Goods (FMCG) product for a period of five years commencing on 1 July 2024.

LOSERS

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

Security	Description	Last	%	Volume	MktCap
TD1	Tali Digital Limited	0.001	-50%	197,997	$6,590,311
KEY	KEY Petroleum	0.001	-33%	186,000	$2,951,892
SOV	Sovereign Cloud Holdings	0.05	-29%	1,334	$11,879,363
PYR	Payright Limited	0.003	-25%	98,919	$3,523,541
BCB	Bowen Coal Limited	0.17	-23%	2,378,455	$405,211,005
GNM	Great Northern	0.002	-20%	15,000	$5,340,784
BBN	Baby Bunting Grp Ltd	1.44	-19%	583,327	$240,133,550
SRJ	SRJ Technologies	0.09	-18%	21,208	$10,484,766
REZ	Resources & Energy Group	0.027	-18%	6,308,842	$16,493,591
NES	Nelson Resources.	0.005	-17%	700,000	$3,531,566

Nickel explorer Resources and Energy Group (ASX:REZ) has given back a chunk of yesterday’s massive gains.

Bowen Coking Coal (ASX:BCB) will raise $50m at 17c/sh – a 22.7% discount to the last traded price and a 21.1% discount to the 15 traded day VWAP.

Baby Bunting Group (ASX:BBN) says sales have been “unprecedentedly low” during the key Storktake promotional event.

“As June delivers a larger proportion of the company’s second half profit, a continuation of the current trend will have a significant impact on the Company’s full year profit result,” it says.

“Accordingly, pro forma net profit after tax is now expected to be in the range of $13.5 million to $15.0 million for FY23.

“This compares to previous guidance of pro forma net profit after tax in the range of $21.5 million to $24 million.”