Top 10 at 10: Pot stock powers to profit, power company pulls M&A payday
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 made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| DTM | Dart Mining NL | 0.038 | 124% | 5,588,571 | $3,868,854 |
| ME1 | Melodiol Glb Health | 0.0075 | 50% | 19,869,897 | $2,034,178 |
| IEC | Intra Energy Corp | 0.003 | 50% | 20,000,000 | $3,381,563 |
| MSB | Mesoblast Limited | 0.825 | 49% | 12,335,411 | $633,095,022 |
| TPC | TPC Consolidated Ltd | 11 | 38% | 8,013 | $90,742,856 |
| AHN | Athena Resources | 0.004 | 33% | 400,000 | $3,211,403 |
| TKL | Traka Resources | 0.002 | 33% | 252,002 | $2,625,988 |
| TMK | TMK Energy Limited | 0.004 | 33% | 2,870,380 | $20,267,144 |
| MOM | Moab Minerals Ltd | 0.005 | 25% | 100,000 | $2,847,854 |
| PNM | Pacific Nickel Mines | 0.03 | 20% | 1,250,113 | $10,456,328 |
Pot stock Melodiol (ASX:ME1) says Canadian subsidiary Mernova has approvals to launch new products across several provincial markets.
It delivered $1.75m of unaudited revenue in Q1 2024, up 13% on Q1 2023, with the Q2 order book already sitting at $373,000.
Explorer Intra Energy (ASX:IEC) identified more “compelling” lithium anomalies at the recently acquired Maggie Hays project in WA.
Power and gas retailer TPC (ASX:TPC) attracts a takeover offer from Beijing Energy International at $8.77/sh cash, plus special dividend and/or return of capital of up to $2.64/sh and the right to potential earn out scheme consideration of up to $4.41/sh.
The TPC board recommends the deal.
LOSERS
Stocks highlighted in yellow made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| GEN | Genmin | 0.104 | -35% | 3,225,196 | $109,638,080 |
| LNR | Lanthanein Resources | 0.002 | -33% | 6,000 | $5,864,727 |
| MRD | Mount Ridley Mines | 0.001 | -33% | 948 | $11,677,324 |
| PFE | Panteraminerals | 0.038 | -28% | 367,000 | $13,805,550 |
| 1MC | Morella Corporation | 0.003 | -25% | 64,655 | $24,715,198 |
| MTL | Mantle Minerals Ltd | 0.0015 | -25% | 38,753 | $12,394,892 |
| PRX | Prodigy Gold NL | 0.003 | -25% | 30,114,082 | $7,004,431 |
| MTB | Mount Burgess Mining | 0.002 | -20% | 75,000 | $2,612,034 |
| RDS | Redstone Resources | 0.004 | -20% | 2,000,000 | $4,626,892 |
| ROG | Red Sky Energy. | 0.004 | -20% | 1,520,000 | $27,111,136 |
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