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Top 10 at 10: Superloop eats Aussie Broadband’s lunch, and something about finding cobalt in seaweed using AI
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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 made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| BP8 | Bph Global Ltd | 0.0015 | 50% | 451,988 | $1,954,116 |
| MCT | Metalicity Limited | 0.003 | 50% | 472,993 | $8,970,108 |
| PPY | Papyrus Australia | 0.02 | 33% | 35,252 | $7,390,389 |
| SLC | Superloop Limited | 1.36 | 30% | 2,868,322 | $515,733,267 |
| CYM | Cyprium Metals Ltd | 0.024 | 26% | 3,031,682 | $28,969,534 |
| M4M | Macro Metals Limited | 0.005 | 25% | 3,187,286 | $12,928,267 |
| PUR | Pursuit Minerals | 0.005 | 25% | 1,237,820 | $11,775,886 |
| 88E | 88 Energy Ltd | 0.006 | 20% | 824,000 | $125,620,313 |
| MHC | Manhattan Corp Ltd | 0.003 | 20% | 100,000 | $7,342,449 |
| KNG | Kingsland Minerals | 0.3 | 18% | 416,210 | $12,629,947 |
Lobbing a mention of artificial intelligence into a release was enough to give $2m capped biotech BPH Global (ASX:BP8) a nice bump at Thursday’s open.
BP8 says it will “expand its seaweed research and development activities into essential mineral extraction utilising AI search technology”.
Superloop (ASX:SLC) is now providing wholesale internet services to two of Australia’s largest energy companies after inking a six-year contract with Origin Energy and its subsidiaries.
The contract is expected to add +$19m of annualised earnings once the current subscriber base is fully transitioned, it says.
Cyprium Metals (ASX:CYM) has updated resources to 1Mt contained copper at its flagship Nifty asset, one of the largest non-operational copper projects in Australia.
Nifty is also a renowned cash furnace, with both Aditya Birla and ASX-listed Metals X (ASX:MLX) failing to make the Pilbara mine a money spinner.
LOSERS
Stocks highlighted in yellow made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| VPR | Volt Power Group | 0.001 | -50% | 96,898 | $21,432,416 |
| SLZ | Sultan Resources Ltd | 0.014 | -36% | 6,033,074 | $3,645,539 |
| VAL | Valor Resources Ltd | 0.002 | -33% | 80,000 | $13,767,040 |
| ME1 | Melodiol Glb Health | 0.004 | -20% | 186,824 | $1,964,980 |
| CTQ | Careteq Limited | 0.02 | -17% | 3,595,096 | $5,653,135 |
| ABB | Aussie Broadband | 3.7 | -15% | 2,061,824 | $1,278,149,911 |
| HLX | Helix Resources | 0.003 | -14% | 125,000 | $8,131,010 |
| NRZ | Neurizer Ltd | 0.003 | -14% | 5,149,156 | $5,254,938 |
| RIE | Riedel Resources Ltd | 0.003 | -14% | 15,500 | $7,783,425 |
Explorer Sultan Resources (ASX:SLZ) has completed a 2 hole drill program at the Calesi prospect in WA and, while assays are pending, “no visible support for magmatic nickel sulphides was observed”.
The Australian Tax Office (ATO) reckons healthtech Careteq (ASX:CTQ) was not entitled to almost $1.3m of tax offsets related to R&D claims over the past two years.
Should it be unable to substantiate its claim CTQ will have to pay back the money plus a $320,000 ‘administrative penalty’.
Meanwhile, Superloop’s gain (mentioned above) is Aussie Broadband’s (ASX:ABB) loss.
ABB says it received “unexpected notice” on the evening of 13 March 2024 that Origin Energy will terminate the White Label Wholesale Agreement with ABB effective 12 April 2024.
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