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Top 10 at 10: Punters can’t get enough of the rare earths, new mine hits snag during ramp-up
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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 |
|---|---|---|---|---|---|
| MOH | Moho Resources | 0.035 | 94% | 17,670,922 | $3,737,920 |
| EMU | EMU NL | 0.003 | 50% | 24,000 | $2,900,043 |
| MEB | Medibio Limited | 0.0015 | 50% | 272,419 | $4,150,594 |
| SIT | Site Group Int Ltd | 0.004 | 33% | 697,045 | $3,903,735 |
| NYM | Narryermetalslimited | 0.12 | 33% | 129,488 | $2,743,875 |
| AYT | Austin Metals Ltd | 0.005 | 25% | 100,491 | $4,063,499 |
| MTH | Mithril Resources | 0.0025 | 25% | 44,325 | $6,526,180 |
| SLA | Silk Laser Australia | 3.01 | 24% | 272,016 | $128,553,248 |
| AQC | Auspaccoal Ltd | 0.175 | 21% | 99,760 | $50,360,088 |
| ARO | Astro Resources NL | 0.06 | 20% | 825,000 | $16,806,448 |
A near 100% gain in early trade for small explorer Moho Resources (ASX:MOH) which hit clay hosted REE grades up to 1890ppm Total Rare Earth Oxides (TREO) in maiden drilling at the Peak Charles project in southern WA.
“Moho believes the identified target zone of 15 x 12km thus far, with further room for growth across the tenement package, puts the company in a positive position in the REE market in Australia,” MOH MD Ralph Winter says.
Meanwhile, Narryer Metals (ASX:NYM) has identified a new clay hosted REE project down the road from MOH in the stunning Great Southern region of WA.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| G1A | Galena Mining | 0.16 | -30% | 307,944 | $142,424,131 |
| AVW | Avira Resources Ltd | 0.003 | -25% | 1,353,999 | $8,535,160 |
| CHK | Cohiba Min Ltd | 0.004 | -20% | 815,090 | $8,866,221 |
| K2F | K2Fly Ltd | 0.099 | -18% | 10,000 | $21,037,776 |
| BUS | Bubalusresources | 0.15 | -14% | 36,893 | $4,982,456 |
| EDE | Eden Inv Ltd | 0.006 | -14% | 5,825,747 | $20,520,111 |
| GNM | Great Northern | 0.003 | -14% | 312,500 | $5,981,678 |
| FG1 | Flynngold | 0.075 | -12% | 363,080 | $8,744,251 |
| USL | Unico Silver Limited | 0.15 | -12% | 281,397 | $42,390,719 |
| AUK | Aumake Limited | 0.004 | -11% | 44 | $4,733,011 |
Galena Mining (ASX:G1A) says weather and technical impacts at the Abra lead-silver mine have resulted in a delayed ramp-up to expected steady-state production.
This will negatively impact 2023 cost and production guidance, it says.
Galena has undertaken a $20m placement at 15c per share (a 36% discount to the 10 day VWAP) to provide additional working capital.
