Top 10 at 10: Calima sells oil project for $83m, twice its market cap

Pic: Via Getty

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
CE1	Calima Energy	0.1075	65%	4,970,975	$40,671,850
MCT	Metalicity Limited	0.003	50%	593,000	$8,970,108
BBT	Bluebet Holdings Ltd	0.245	26%	488,156	$39,214,262
BDG	Black Dragon Gold	0.045	25%	300,000	$7,224,122
SI6	SI6 Metals Limited	0.005	25%	2,100,000	$7,975,438
DAF	Discovery Alaska Ltd	0.036	20%	440,894	$7,027,041
DYM	Dynamicmetalslimited	0.19	15%	10,057	$5,775,000
NPM	Newpeak Metals	0.023	15%	53,955	$1,999,035
MTC	Metalstech Ltd	0.27	15%	166,371	$44,404,329
PXX	Polarx Limited	0.008	14%	358,262	$11,477,317

Calima Energy (ASX:CE1) will sell subsidiary Blackspur Oil for ~$83.3m – about double the company’s current market cap.

CE1 says it will distribute no less than 85% of the funds received from the Blackspur sale to Calima shareholders “in the most tax effective form”.

Mobile betting co BlueBet (ASX:BBT) has played a straight bat to takeover speculation, saying that it is “regularly involved in discussions with third parties regarding strategic initiatives, including [fellow bookie] Betr, aimed at maximising value for its shareholders”.

“While discussions may occur, there can be no certainty that any transaction will eventuate.”

Explorer Discovery Alaska (ASX:DAF) will be leased the Vinsdale gold project in Alaska for an initial term of 15 years.

The project, which has been inactive over the past decade, comes with a historic NI 43-101 inferred resource of 22Mt @ 1.53g/t for 1.08Moz.

LOSERS

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

Code	Company	Price	%	Volume	Market Cap
JAV	Javelin Minerals Ltd	0.001	-50%	10,000	$2,176,231
NWF	Newfield Resources	0.13	-21%	27,000	$149,031,700
EDE	Eden Inv Ltd	0.002	-20%	5,464	$9,167,534
AL8	Alderan Resource Ltd	0.005	-17%	500,000	$6,641,168
AMD	Arrow Minerals	0.005	-17%	3,518,805	$20,842,591
RDS	Redstone Resources	0.005	-17%	121,500	$5,528,271
TX3	Trinex Minerals Ltd	0.008	-11%	200,000	$13,383,222
IXU	Ixup Limited	0.033	-11%	161,290	$40,238,817
ATH	Alterity Therap Ltd	0.0045	-10%	22,161,299	$14,011,802
AX8	Accelerate Resources	0.036	-10%	212,500	$22,924,070