An image of the author at work this morning, with the curious addition of an assitsant – so this is clearly a cry for help more than anything else. Pic via Getty Images.
News
Good morning, and welcome to Stockhead’s Top 10 at shortly-before-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.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading – for better or worse – and then I do my best to make sense of who’s moving where and why it might be happening.
Local markets have opened lower, and at 10.30am the ASX 200 was sitting at -0.34%, after a mixed result on Friday for Wall Street that saw record highs. However, US stock futures fell pre-market on Sunday, and Aussie markets have taken a small hit.
Here’s what’s been happening since the doors were opened this morning
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| ARR | American Rare Earths | 0.225 | 41% | 3,634,733 | $71,427,728 |
| MRD | Mount Ridley Mines | 0.002 | 33% | 501,227 | $11,677,324 |
| FTC | Fintech Chain Ltd | 0.014 | 27% | 5,000 | $7,158,465 |
| DOU | Douugh Limited | 0.005 | 25% | 263,000 | $4,328,276 |
| IEC | Intra Energy Corp | 0.0025 | 25% | 10,000,000 | $3,381,563 |
| LNR | Lanthanein Resources | 0.006 | 20% | 1,832,754 | $6,449,060 |
| M4M | Macro Metals Limited | 0.003 | 20% | 468,000 | $6,167,694 |
| SUH | Southern Hem Min | 0.049 | 20% | 15,036 | $24,210,758 |
| REE | Rarex Limited | 0.019 | 19% | 1,402,690 | $10,934,185 |
| VR1 | Vection Technologies | 0.033 | 18% | 2,994,740 | $31,544,491 |
Macro Metals (ASX:M4M) has reached an agreement with Aurora Energy Metals (ASX:1AE) to extend the exclusivity period in relation to Macro Metals’ proposed acquisition of an 85% interest in the lithium rights over the Aurora Energy Metals Project in Oregon, announced to the market back in late November last year.
Vection Technologies (ASX:VR1) has announced that the company has the award of a contract valued at $4.9m on a Total Contract Value basis for cyber security-focused ICT infrastructure in partnership with DELL, all of which is expected to be recognised in 3Q FY24.
American Rare Earths (ASX:ARR) is charging pretty hard this morning, possibly on the heels of Friday’s investor presentation, and late news that chairman Ken Traub has been replaced by Non-Executive Director Richard Hudson. Traub is set to remain on the board as a Non-Executive Director.
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| PHX | Pharmx Technologies | 0.014 | -62% | 2,800,000 | 22,144,751 |
| WML | Woomera Mining Ltd | 0.0035 | -42% | 26,142,021 | 7,308,834 |
| BP8 | BPH Global Ltd | 0.001 | -33% | 5 | 2,931,174 |
| RR1 | Reach Resources Ltd | 0.002 | -33% | 306,963 | 9,630,891 |
| BNL | Blue Star Helium Ltd | 0.012 | -29% | 12,919,638 | 33,018,510 |
| CCO | The Calmer Co Int | 0.004 | -20% | 3,677,661 | 4,287,476 |
| NVQ | Noviqtech Limited | 0.002 | -20% | 2,453 | 3,273,613 |
| CUS | Copper Search | 0.1 | -15% | 228,870 | 10,843,535 |
| BCT | Bluechiip Limited | 0.006 | -14% | 486,666 | 5,567,617 |
| FGL | Frugl Group Limited | 0.006 | -14% | 1,802,400 | 7,291,817 |
Blue Star Helium (ASX:BNL) has lost ground this morning after testing at its BBB #33 well in Nevada resulted in gas to surface flow containing approximately 3.0% helium, 92.4% nitrogen and 4.6% carbon dioxide. However, the helium concentration gradually increased over the life of the test and the returning gas flow was still showing signs of ‘cleaning up’ at the end of the test.
Copper Search (ASX:CUS) has fallen on news of underwhelming assays from drilling at its Paradise Dam and Richard Dam prospects in South Australia. However, the company says it has identified significant chargeability anomaly of up to 50mV/V strength, 3km in strike to the south of a recent drilling site elsewhere within the project.
