Top 10 at 10: Offtake deals, spectacular metal grades and lucrative takeovers

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).

Graphite play Volt Resources (ASX:VRC) has signed a binding offtake deal with NYSE-listed battery anode material producer Graphex Group.

VRC will sell 10,000 tonnes per annum of graphite fine natural flake product from its ‘Bunyu’ project for an initial 5-year term.

Eagle Mountain Mining (ASX:EM2) is pulling up eyewatering grades in drilling at the Oracle Ridge project, including 25.5% Cu, 1,935g/t Ag and 15.2g/t Au.

High-grade zones such as these demonstrate that the mineralisation is not uniform and there are areas of spectacular grade, the company says.“This could be an indicator of a larger system or thicker areas in the vicinity.”

And recycling stock Close the Loop Groop (ASX:CLG) will acquire American refurbished electronics business, ISP Tek Services, for up to US$66m.

ISP Tek Services recorded revenue for the 12 months to October 2022 of US$49m with net profit after tax of US$13.7m.

LOSERS

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