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Top 10 at 10: M&A, high grade niobium, and another cap raise
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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 |
|---|---|---|---|---|---|
| BLY | Boart Longyear | 2.67 | 53% | 12,245 | $517,860,725 |
| ICN | Icon Energy Limited | 0.007 | 40% | 1,000,087 | $3,840,068 |
| RMX | Red Mount Min Ltd | 0.004 | 33% | 940,000 | $8,020,728 |
| EVR | Ev Resources Ltd | 0.011 | 22% | 3,384,211 | $9,896,295 |
| ARN | Aldoro Resources | 0.1 | 22% | 15,221 | $11,039,147 |
| DYM | Dynamicmetalslimited | 0.165 | 18% | 30,000 | $4,900,000 |
| AGR | Aguia Res Ltd | 0.02 | 18% | 2,649,450 | $8,593,175 |
| PXX | Polarx Limited | 0.007 | 17% | 1,000,000 | $9,837,701 |
| ARR | American Rare Earths | 0.16 | 14% | 142,178 | $62,499,262 |
| WOA | Wide Open Agricultur | 0.17 | 13% | 12,093 | $26,313,513 |
130 year-old drilling company Boart Longyear (ASX:BLY) will be taken private by a US company via court approved plan of arrangement.
The cash deal values each share at US$1.9554 – a 96% premium to the 30-day volume-weighted average price.
The BLY board unanimously recommends the deal to shareholders.
EV Resources (ASX:EVR) has the green light to drill its high grade Parag copper-molybdenum project (EVR: 70%) in Peru.
And Aldoro Resources (ASX:ARN) is picking up rock chips grading up to 9% niobium at the Kameelburg project.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| EMU | EMU NL | 0.001 | -33% | 100,000 | $3,037,157 |
| VPR | Volt Power Group | 0.001 | -33% | 10 | $16,074,312 |
| AUK | Aumake Limited | 0.003 | -25% | 109,146 | $7,657,627 |
| AVW | Avira Resources Ltd | 0.0015 | -25% | 98,900 | $4,267,580 |
| IEC | Intra Energy Corp | 0.003 | -25% | 424,672 | $6,643,126 |
| ME1 | Melodiol Glb Health | 0.0015 | -25% | 853,642 | $9,457,648 |
| GMN | Gold Mountain Ltd | 0.004 | -20% | 89,500 | $11,345,393 |
| JAV | Javelin Minerals Ltd | 0.002 | -20% | 182,866 | $2,720,289 |
| WEL | Winchester Energy | 0.002 | -20% | 200,000 | $2,551,055 |
| KOB | Kobaresourceslimited | 0.068 | -15% | 241 | $8,433,333 |
| GTG | Genetic Technologies | 0.15 | -14% | 85,146 | $20,198,018 |
| IVZ | Invictus Energy Ltd | 0.135 | -13% | 4,609,197 | $200,099,045 |
Genetic Technologies Limited (ASX:GTG) received $1.75m from the federal government’s R&D tax incentive program for FY23.
And oil and gas hopeful Invictus Energy (ASX:IVZ) has raised more cash, this time $15m at 13c per share. This is a 21% discount to the 5 day VWAP.
It is also a small discount to the last cap raise in September of $15m at 15c per share.
