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 |
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