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Top 10 at 10: Investors love rare earths, hate giant cap raises
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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 started trading.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CDR | Codrus Minerals Ltd | 0.19 | 52% | 5,054,463 | $5,053,750 |
| MTB | Mount Burgess Mining | 0.003 | 50% | 315 | $1,766,342 |
| CLE | Cyclone Metals | 0.002 | 33% | 1,000,000 | $13,633,872 |
| AVE | Avecho Biotech Ltd | 0.006 | 20% | 35,000 | $9,189,347 |
| TMX | Terrain Minerals | 0.006 | 20% | 986,950 | $5,415,997 |
| CRS | Caprice Resources | 0.048 | 17% | 1,145,540 | $4,787,034 |
| ADX | ADX Energy Ltd | 0.007 | 17% | 42,857 | $21,207,748 |
| OAR | OAR Resources Ltd | 0.0035 | 17% | 34,485 | $7,233,114 |
| RIE | Riedel Resources Ltd | 0.007 | 17% | 11,092,793 | $8,230,242 |
| SCU | Stemcell United Ltd | 0.004 | 14% | 656,174 | $4,496,554 |
Codrus (ASX:CDR) is the latest explorer to find clay rare earths, reporting grades up to 4,764ppm TREO in a maiden drill hole at the Karloning REE-niobium project in WA.
“The result from KLRC001 significantly upgrades the Karloning project’s REE potential, with two styles of REE mineralisation now confirmed within the project area – hard rock pegmatite mineralisation and clayhosted REE’s,” the company says.
More REEs from Caprice Resources (ASX:CRS), which has uncovered an anomaly over at least 300m at the Mukinbudin project, with rock chips and soil samples returning up to 3,761ppm REO.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| OAU | Ora Gold Limited | 0.002 | -33% | 255,000 | $11,810,775 |
| VPR | Volt Power Group | 0.001 | -33% | 336,500 | $16,074,312 |
| VUL | Vulcan Energy | 5.13 | -17% | 924,747 | $883,561,454 |
| RML | Resolution Minerals | 0.005 | -17% | 3,000,000 | $6,523,583 |
| EMS | Eastern Metals | 0.06 | -15% | 261,562 | $2,773,573 |
| MRD | Mount Ridley Mines | 0.003 | -14% | 164,999 | $27,247,090 |
| NAG | Nagambie Resources | 0.04 | -13% | 227,432 | $26,759,411 |
| REE | Rarex Limited | 0.053 | -12% | 3,787,456 | $34,763,195 |
| DTC | Damstra Holdings | 0.079 | -11% | 159,399 | $22,934,979 |
| GBE | Globe Metals &Mining | 0.049 | -11% | 99,139 | $27,872,278 |
Geothermal lithium play Vulcan Energy Resources (ASX:VUL) continues to fall after completing a $109m placement at an offer price of A$5.10/sh (EUR 3.08/sh) – a 16% discount to Wednesday’s closing price.
