Top 10 at 10: Super high uranium grades and an untouchable lithium IPO
Pic: Stockhead, Via getty Images
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 |
|---|---|---|---|---|---|
| CHK | Cohiba Min Ltd | 0.003 | 50% | 603,334 | $5,060,460 |
| ME1 | Melodiol Glb Health | 0.0015 | 50% | 58,462 | $4,728,824 |
| AVE | Avecho Biotech Ltd | 0.004 | 33% | 1,250,000 | $9,507,891 |
| SIS | Simble Solutions | 0.004 | 33% | 473,878 | $1,808,852 |
| GLA | Gladiator Resources | 0.035 | 21% | 6,006,726 | $17,611,608 |
| PFE | Panteraminerals | 0.058 | 18% | 58,750 | $6,498,505 |
| KM1 | Kalimetalslimited | 0.63 | 20% | 4,293,434 | $40,079,600 |
| ICE | Icetana Limited | 0.033 | 18% | 1,821 | $7,409,596 |
| GUE | Global Uranium | 0.115 | 15% | 135,274 | $21,220,897 |
| LSR | Lodestar Minerals | 0.004 | 14% | 1,000,000 | $7,081,891 |
Gladiator Resources (ASX:GLA) says re-analysis of uranium samples above the detection limit (4245ppm U3O8) returned grades up to 7139ppm.
The results come from a trenching program at Southwest Corner, part of the Mkuju project in Tanzania.
US brines hopeful Pantera Minerals (ASX:PFE) now controls 12,100 acres of ground in the Smackover formation, Arkansas, after growing its Superbird lithium project by another 16%.
And red hot IPO Kali Metals (ASX:KM1) says spodumene has been identified at Spargoville, part of its Higginsville lithium district in WA.
KM1 is now up 140% on its listing price of 25c/sh.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| AVW | Avira Resources Ltd | 0.001 | -50% | 649,998 | $4,267,580 |
| TX3 | Trinex Minerals Ltd | 0.006 | -25% | 64,381 | $11,896,197 |
| YAR | Yari Minerals Ltd | 0.009 | -18% | 4,666 | $5,305,936 |
| KRR | King River Resources | 0.012 | -14% | 191,499 | $21,749,349 |
| MOM | Moab Minerals Ltd | 0.006 | -14% | 2,367,130 | $4,983,744 |
| A1G | African Gold Ltd. | 0.032 | -11% | 216,872 | $6,095,204 |
| 5EA | 5Eadvanced | 0.21 | -11% | 130,476 | $72,726,538 |
| AJL | AJ Lucas Group | 0.01 | -9% | 700 | $15,133,026 |
| POS | Poseidon Nick Ltd | 0.011 | -8% | 790,320 | $44,562,417 |
| IPT | Impact Minerals | 0.012 | -8% | 127,393 | $37,241,151 |
Boron lithium play 5EA Advanced Materials (ASX:5EA) – formerly American Pacific Borates — is a baggie’s worst nightmare, down +93% from its May 2022 peak of $3.73/sh.
First production from a pilot facility was originally pencilled in for early 2023, with a 250,000tpa large scale operation to be up and running in 2025.
In 2022 and 2023 a handful of board members resigned amid cost overruns and schedule misses, which 5AE blamed on its contractor.
A shareholder vote on a painful recapitalisation and restructuring deal (done at a 50% discount) will be held January 12.
If it is voted down, the company will implement the restructuring through bankruptcy, which would extinguish the equity interests “of stockholders in their entirety”.
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