Stockhead’s Top 10 at 10, published at 10.30am each trading day, highlights the best (and worst) performing ASX small caps 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 commenced trading.

WINNERS

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


Lithium play Sayona Mining (ASX:SYA) was a clear standout,  after coming out of a trading halt to announced it has almost doubled the JORC compliant lithium  resource base for its two Quebec-baed projects to to 119.1 Mt @ 1.05% Li2O.

With lithium prices surging on the back of an increasing structural supply deficit, our upcoming definitive  feasibility study for an integrated NAL‐Authier operation, expected in coming weeks, is set to show  significantly enhanced profitability for the benefit of shareholders,” Managing director Brett Lynch said.

Also rising strongly was Tombador Iron (ASX:TI1), which flagged the results of a pre-feasibility study which showed a maiden iron ore reserve of 5.59 million tonnes at 65.5%Fe.

The resources “underpins 100% of the forecasted annual production of 1.2 million tonnes for 5 years” in the PFS, which was calculated on an assumed iron ore price of US$100.31 per tonne.

LOSERS

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


Buru Energy (ASX:BRU) slumped after providing an update on gas flows from the Rafael 1 well at its Canning Basin project, which were interrupted by weather conditions.

Once Cyclone Anika passes, “the test will resume with a longer flow period and the acquisition of separator samples to determine more accurately the condensate and LPG content of the gas stream”, the company said.

“A further update on flow rates and flow conditions will be provided at the conclusion of the test.”