Top 10 at… 11: AML3D wins US Navy submarine parts contract; Loyal Lithium makes Canadian discovery

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).

• AML3D (ASX:AL3), an industrials manufacturer that specialises in 3D printed metals, has won a $2m contract to produce submarine parts for the US Navy.

The company will be using its ‘ARCEMY’ tech to manufacture parts that are no longer made by the original provider, solving a critical supply chain issue for the US Navy.

The contract will run for a period of nine months starting in September 2023 and the company says the parts will use a nickel-aluminium-bronze alloy.

• Health tech firm Singular Health Group (ASX:SHG) is also getting some love from the US of A this morning, announcing a significant strategic investment from its master distributor in the States.

CG1 Ventures LLC is a venture arm of Singular’s recently appointed master distributor for the USA, CG1 Solutions LLC, and will be investing up to $850,000 at AUD$0.055 per share, a 41% premium to the last closing price of $0.039, and the same price as the company’s last capital raise.

• Up-and-coming lithium hunter Loyal Lithium (ASX:LLI) has this morning announced the discovery of five spodumene-bearing pegmatite dykes at the Trieste Lithium Project in the lithum-bountiful James Bay, Canada.

The company reports that the five dykes, with aligned implied continuous outcrops, have been identified within a 6km2 area to the south of the Trieste Greenstone Belt, “situated in a metasediment host – leaving several high value greenstone targets yet to be explored”.

Preparation for drilling activities at these locations is set to commence imminently.

LOSERS

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

Healthcare tech equipment solutions firm Oakridge International (ASX:OAK) has provided a response to an ASX query about the reason for a recent bump up in the OAK share price. Your guess is as good as ours, was essentially the company’s response:

“OAK is not aware of any information that would explain the recent price increase.”