Top 10 at 10: Gold toll treating deals, Bowen basin gas, and a bonanza basket of metals
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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.
Dateline Resources (ASX:DTR) has reached a toll treating agreement with MW Sorter (MW), to bring together Dateline’s Gold Links mine and Lucky Strike processing plant with MW’s stockpiles at the London and Hock Hocking mines, located 160km from the plant in Colorado.
The company says treating the London stockpiles will reduce pressure on underground mining at Gold Links in the short term.
A monthly payment of US$825,000 will be paid to Dateline’s US subsidiary as treatment fee and MW will pay US$700,000 to complete the upgrade of the Lucky Strike processing plant.
State Gas (ASX:GAS) has flagged ‘encouraging’ results from continued production testing of the combined Rougemont-2 vertical well and Rougemont-3 lateral wells in Queenslands Bowen Basin.
Daily gas production at Rougemont 2/3 is now exceeding 100,000 cubic feet of gas per day, a rapid increase which “continues to indicate the excellent permeability of Rougemont’s coals and the possibility of extremely high gas production levels from the pilot well,” the company says.
Inca Minerals (ASX:ICG) has reported ‘bonanza’ assay results of up to 49% copper, 2,430 g/t silver, 43.3% lead and 1.33% zinc from field exploration conducted last year at the MaCauley Creek Project in Queensland.
The results also include anomalous levels of ‘new economy’ metals, notably lithium of up to 345ppm, tin of over 500ppm and tungsten of up to 125ppm.