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 commenced trading.

 

WINNERS

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

 

The biggest winners are led by Arrow Minerals (ASX:AMD) who came out with a double whammy today.

The company is divesting its Strickland copper-gold project in WA to Dreadnought Resources (ASX:DRE) to focus on its West African assets and it’s picking up the Simandou North iron ore project in Guinea.

Arrow will acquire a 60.5% controlling interest in private company Amalgamated Minerals which holds a 100% interest in Simandou.

It’s kind of a big deal because the project lies at the northern end of the Simandou Range and forms an extension of the stratigraphy that hosts one of the largest undeveloped high-grade iron deposits in the world, including Rio Tinto’s (ASX:RIO) Simandou Project with a total measured, indicated and inferred mineral resource estimate of 2 billion tonnes grading 65.5% iron.

Plus, Arrow will retain exposure to potential upside at Strickland through a conditional $1m payment on identification of a Mineral Resource of 500,000oz gold equivalent and a 1% NSR Royalty.

Also amongst the winners is IOUpay (ASX:IOU) who’ve nabbed Shariah Compliance Certification in Malaysia and signed agreement with the amazingly named Islamic Payment Gateway  PayHalal.

The company says this opens access to new communities of consumers and merchants (more than 60% of Malaysia’s population follows the Muslim faith tradition).

It also positions IOUpay to develop opportunities with Islamic banks & non-bank financial institutions for instalment plan-based consumer finance programs and expand into additional countries with large Islamic populations.

And Zelira Therapeutics (ASX:ZLD) is also on the approvals train, securing formal regulatory approval in Germany for its Zenivol cannabinoid-based insomnia medication.

 

LOSERS

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