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Top 10 at 11: 4DS Memory flying after test results so good, even the board was surprised
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Stockhead’s Top 10 at 11, 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 |
|---|---|---|---|---|---|
| 4DS | 4Ds Memory Limited | 0.1375 | 108% | 33,971,916 | $107,747,853 |
| RDN | Raiden Resources Ltd | 0.016 | 33% | 48,240,998 | $24,663,227 |
| ANX | Anax Metals Ltd | 0.06 | 20% | 489,026 | $21,495,196 |
| ROG | Red Sky Energy. | 0.006 | 20% | 3,124,999 | $26,511,136 |
| ASE | Astute Metals NL | 0.049 | 20% | 809,800 | $14,097,139 |
| AAP | Australian Agri Ltd | 0.016 | 14% | 2,147 | $4,271,393 |
| AL8 | Alderan Resource Ltd | 0.008 | 14% | 914,255 | $4,316,863 |
| BFC | Beston Global Ltd | 0.008 | 14% | 6,765,000 | $13,979,328 |
| WCN | White Cliff Min Ltd | 0.008 | 14% | 1,400,000 | $8,799,130 |
| FRB | Firebird Metals | 0.13 | 13% | 150,917 | $8,403,625 |
4DS Memory (ASX:4DS) has gone flying in early trade this morning, after the company revealed that testing on its Fourth Platform Lot has produced results that are “significantly better than the board and management team at 4DS were expecting”.
The company has been climbing (mostly) steadily since 11 August ahead of these results – at one point earning a speeding ticket from the ASX – but this morning’s announcement is welcome news for investors after a difficult 12 months for the company as it works to iron out development issues with its product.
Astute Metals (ASX:ASE) – formerly Astro Resources – is also climbing on a huge tranche of news this morning, with no less than nine announcements to the market pre-open. The highlights include news of “broad hits of lithium” from the first aircore drillhole at its Altair Project in Nevada, and the company’s successful completion of the final stage of a capital raising initiative, raising $1.35 million.
Raiden Resources (ASX:RDN) is up 33% on news that the company has found a ~3.5km long, 600m wide pegmatite field at its Andover South tenements with individual pegmatites outcropping up to 30m widths.
Similarly, Anax Metals (ASX:ANX) has climbed on news that the company has discovered extensive pegmatites at its Whim Maar and Loudens Patch prospects, with samples sent to be assessed for lithium fertility.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| EMU | EMU NL | 0.001 | -50% | 2,050,000 | $2,900,043 |
| CLE | Cyclone Metals | 0.001 | -33% | 100,000 | $15,396,757 |
| MCT | Metalicity Limited | 0.002 | -33% | 4,497,957 | $11,208,257 |
| MXC | Mgc Pharmaceuticals | 0.002 | -33% | 1,199,993 | $11,677,079 |
| FTL | Firetail Resources | 0.13 | -26% | 253,290 | $16,843,750 |
| ESK | Etherstack PLC | 0.295 | -20% | 195,420 | $48,750,091 |
| WTC | Wisetech Global Ltd | 72.855 | -16% | 227,970 | $28,735,464,293 |
| IRX | Inhalerx Limited | 0.038 | -16% | 261,777 | $8,539,513 |
| CXM | Centrex Limited | 0.093 | -15% | 2,479,843 | $67,598,193 |
| KKO | Kinetiko Energy Ltd | 0.11 | -15% | 1,894,837 | $101,473,258 |
Firetail Resources (ASX:FTL) is giving back some of its recent gains this morning, falling 26% in early trade, despite final assay results from the company’s drilling program at the Johnson Well Prospect confirming that drilling has intersected pegmatites in 3 of the 4 drill sections over a strike length of around 150m and appear continuous for ~120m down-dip.
The results include “encouraging” numbers, such as 3m @ 0.83% LiO2 from 32m including 1m @ 1.16% LiO2 from 34m in hole JWRC-0005.
Etherstack (ASX:ESK) is falling this morning after issuing a guidance revision, noting that revenue was $2.9 million down 40% on the prior corresponding period, which ESK is blaming on “project delays outside of Etherstacks’ control”.
ESK says its expected EBITDA is $0.54 million, down from $2.2 million in the pcp, leading to a statutory net loss after tax of $1.5 million, a decrease from $1.6 million profit for the pcp.
InhaleRX (ASX:IRX) has fallen this morning after yesterday’s ugly half-yearly report, and Centrex (ASX:CXM) is also lower after revealing it has received firm commitments for a placement of approximately 47.2m shares to institutional, sophisticated and professional investors (the Placement) at an issue price of 9 cents per share to raise $4.25 million.
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