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).

 

Today’s biggest winners include Globe Metals & Mining (ASX:GBE) who’ve progressed the Mining Development Agreement (MDA) for the Kanyika Niobium Project in Malawi.

The Malawi Ministry of Mining has advised that negotiations and attendant review of the draft Kanyika Niobium Project MDA have been concluded, following a recommendation for approval made by the Government’s MDA Steering Committee.

The final draft of the MDA is being readied for submission to the Ministers of Mining and Finance for approval and signing – subject to Ministers of Mining and Finance discretion.

“The conclusion of the MDA is a critical step forward towards production as it provides Globe and its potential partners, financiers and customers with clarity and surety around tenure, developmental timelines and the fiscal regime pertaining to the Kanyika Niobium Project,” CEO Grant Hudson said.

GBE says its ‘Kanyika’ project in Malawi will be the first niobium mine in 50 years when it comes online.

Over 90% of niobium is used in the manufacture of high strength alloy steels. Intensity of usage is rising rapidly as markets, and in particular China, moves towards the manufacture of higher quality steels, GBE says.

A feasibility study envisaged an initial 23-year mine life producing 3,250t of niobium and 140t of tantalum for average annual cashflow of $US225m. The payback period is just 1.5 years, the company says.

 

LOSERS

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