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Top 10 at 11.30: Lithium player Cassius punches above weight in Africa, as does MCM
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Good morning, and welcome to Stockhead’s Top 10 at somewhere near 11-ish, which is meant to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms that have made announcements.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.
Briefly, here’s what’s been happening already this morning: After 10 straight days of up and to the right, local markets took a nosedive and are currently trying their damndest to push back into green.
The ASX 200 has ripped on up this morning, currently sitting on an intraday 0.43% gain. It’s early doors still, but we’ll definitely take this after a couple of bloody days on the local bourse.
It was a mixed session overnight on Wall Street, so the cues for an ASX gain weren’t immediately obvious. That said, GDP data shows the US economy is holding up well enough, pointing to some positivity across the board.
Eddy’s Market Highlights has far more nuance on this for you. Read > here.
In the meantime, here’s what’s moving and shaking (out) on the ASX at the time of writing.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| MCM | Mc Mining Ltd | 0.215 | 72% | 1390523 | 51751668.63 |
| CMD | Cassius Mining Ltd | 0.008 | 60% | 4501910 | 2710022.475 |
| NKL | Nickelxltd | 0.031 | 55% | 5895882 | 2045379.18 |
| VPR | Voltgroupltd | 0.002 | 33% | 7152699 | 16074312.32 |
| ATP | Atlas Pearls Ltd | 0.14 | 27% | 3516003 | 48044327.65 |
| AFL | Af Legal Group Ltd | 0.165 | 27% | 114115 | 11868896.52 |
| 88E | 88 Energy Ltd | 0.0025 | 25% | 14680247 | 57867623.9 |
| AYT | Austin Metals Ltd | 0.005 | 25% | 200237 | 5296765.396 |
| LML | Lincoln Minerals | 0.005 | 25% | 1016010 | 8225038.08 |
| DEL | Delorean Corporation | 0.105 | 24% | 1268846 | 18336277.78 |
Cassius Mining (ASX:CMD) is punching above its weight this morn. The reason? AustChina has completed its due diligence drilling program at CMD’s Chenene Lithium Project in Tanzania.
MC Mining (ASX:MCM) – Formerly Coal of Africa Limited, MCM is a coal exploration, development and mining company operating in South Africa. A couple of days ago, per an ASX release, this happened:
“The Company has reached an agreement with Hong Kong Stock Exchange (HKSE) main board listed Kinetic Development Group Limited (KDG)… the terms of which provide that KDG (or its designee) will subscribe, in two tranches, for a total of 51% of the post transaction issued share capital of MC Mining.”
MCM will effectively be banking bulk cash here on this deal, effectively creating a valuation of about $150m for half the company. It’s currently sporting a market cap of just $86.94m.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ZMM | Zimi Ltd | 0.009 | -31% | 631,251 | $1,646,641 |
| MOZ | Mosaic Brands Ltd | 0.032 | -30% | 814,248 | $8,211,296 |
| GMN | Gold Mountain Ltd | 0.003 | -25% | 187,357 | $15,629,893 |
| LSR | Lodestar Minerals | 0.0015 | -25% | 7,002,000 | $5,201,560 |
| BLZ | Blaze Minerals Ltd | 0.004 | -20% | 243,000 | $3,142,791 |
| GGE | Grand Gulf Energy | 0.004 | -20% | 630,005 | $10,476,235 |
| IBG | Ironbark Zinc Ltd | 0.002 | -20% | 183,333 | $4,584,120 |
| LNR | Lanthanein Resources | 0.002 | -20% | 102,454 | $6,109,090 |
| NRZ | Neurizer Ltd | 0.004 | -20% | 1,101,796 | $10,905,597 |
| TYX | Tyranna Res Ltd | 0.004 | -20% | 50,000 | $16,439,627 |
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