Top 10 at 10: The Star casino gets a boost, Kuniko goes cobalt hunting

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
EDE	Eden Inv Ltd	0.004	33%	1,020,118	$8,990,911
ETR	Entyr Limited	0.009	29%	1,149,699	$13,837,977
BP8	Bph Global Ltd	0.0025	25%	562,468	$2,669,460
SGR	The Star Ent Grp	1.14	17%	8,602,680	$1,578,213,855
AMD	Arrow Minerals	0.0035	17%	800,185	$9,071,295
KNI	Kunikolimited	0.43	16%	38,556	$25,020,448
ZMM	Zimi Ltd	0.029	16%	50,000	$2,787,372
KGD	Kula Gold Limited	0.022	16%	1,653,058	$7,091,026
CCZ	Castillo Copper Ltd	0.008	14%	310,100	$9,096,537
MTB	Mount Burgess Mining	0.004	14%	2,000,000	$3,554,764

The Star Entertainment Group (ASX:SGR) is up today on news its embattled Sydney casino The Star has been thrown a bone by the NSW government by way of a “transitional” tax levy for the next seven years.

The previous state government had proposed raising The Star’s tax rate on poker machines duties to the top rate of 60.7 per cent.

The Star had consistently maintained the former Treasurer’s proposed duty increase was not sustainable, flawed in its design and, if implemented as originally proposed, would essentially make the Star an unviable business and put thousands of jobs at risk.

The Star has confirmed today it’s reached an in-principle agreement with NSW Treasurer Daniel Mookhey to amend its duty arrangements with the State, which should deliver a more sustainable outcome for the casino.

Right, we’re heading straight there to bung a cool $200 on the chocolate wheel. Unless we come to our senses and put it in Bitcoin or lithium instead. (Not financial advice).

Kuniko Limited (ASX:KNI), a European-focused minerals explorer, has revealed “robust” cobalt mineral extensions and high-grade discoveries from two recent drilling campaigns at the Middagshvile Skuterud Cobalt Project in Norway.

The company reports that the findings unveil a promising extension of known mineralisation towards the northern region of the site, enhancing the project’s potential for expansion.

LOSERS

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

Code	Company	Price	%	Volume	Market Cap
AXP	AXP Energy Ltd	0.001	-33%	1	$8,737,021
FAU	First Au Ltd	0.003	-25%	500,000	$5,807,973
CTO	Citigold Corp Ltd	0.004	-20%	306,373	$14,368,295
BTN	Butn Limited	0.14	-18%	13,510	$31,113,162
DOU	Douugh Limited	0.006	-14%	366,301	$7,398,827
GCM	Green Critical Min	0.012	-14%	3,054,142	$13,810,701
KNG	Kingsland Minerals	0.235	-13%	67,006	$12,074,346
ME1	Melodiol Glb Health	0.007	-13%	3,125,961	$21,778,430
W2V	Way2Vatltd	0.014	-13%	100,000	$10,045,964
REZ	Resourc & En Grp Ltd	0.016	-11%	7,489	$8,996,504

Green Critical Minerals (ASX:GCM) has provided an update on its preliminary metallurgical testwork at the McIntosh Graphite Project, for which GCM holds 80% earn-in rights.

The news is that flake size distribution used in the 2017 prelim study is different to the 250kg composite sample material sent by GCM to SGS Lakefield for the testwork studies.

The company notes that the SGS flotation test work received to date is preliminary and still ongoing. “Test work will progress with the upgrading process.”