Top 10 at 11: ASX jumps on open as copper and battery metals rally
The ASX has had an electric start to trade on Wednesday, jumping 0.42pc as a copper and battery metal rally sparks momentum. Pic: Getty Images
Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.
With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
Resources drive early gains
The ASX 200 has jumped 0.42% in the first half hour of trading, with 9 of 11 sectors making gains as of about 10:30 am AEST.
The materials sector is leading the charge, building on momentum generated by a rally in lithium and battery metal stocks and a 5.9% jump in James Hardie (ASX:JHX) shares.
The construction materials company completed its acquisition of NYSE-listed outdoor living business AZEK today, adding to its extensive portfolio of exterior design brands.
Lithium, rare earth and copper stocks are making the biggest moves this morning, including several of the stocks on our small cap winners list…
WINNERS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| PKO | Peako Limited | 0.003 | 50% | 120000 | $2,975,484 |
| EEL | Enrg Elements Ltd | 0.002 | 33% | 792525 | $4,880,668 |
| IS3 | I Synergy Group Ltd | 0.002 | 33% | 620409 | $2,253,285 |
| SRN | Surefire Rescs NL | 0.002 | 33% | 1500000 | $3,729,668 |
| LAT | Latitude 66 Limited | 0.029 | 26% | 10932 | $3,298,216 |
| ADG | Adelong Gold Limited | 0.005 | 25% | 60000 | $8,274,707 |
| DY6 | Dy6Metalsltd | 0.145 | 23% | 1246772 | $8,749,344 |
| HOR | Horseshoe Metals Ltd | 0.025 | 19% | 670720 | $14,070,141 |
| BCA | Black Canyon Limited | 0.16 | 19% | 405899 | $17,502,844 |
| ID8 | Identitii Limited | 0.007 | 17% | 15000 | $4,668,081 |
In the news…
Horseshoe Metals (ASX:HOR) is preparing to fire up its direct shipping ore operations for the Horseshoe Lights copper-gold project in WA, after getting the greenlight from the DEMIRS.
HOR expects to have boots on the ground within the next few weeks, with sales of existing copper stockpiles to begin shortly thereafter.
It’s perfect timing for the company, with the price of copper soaring more than 26% in the year to date to reach 10-year highs.
Latitude 66 (ASX:LAT) is offloading its 17.5% interest in the Greater Duchess joint venture project, triggering a right of first refusal for JV partner Carnaby Resources (ASX:CNB).
LAT is looking to sell its interest for $2m, with some conditional payments on the table of up to $4m in cash or ASX-listed shares.
If the project is sold within 90 days of the sale and anyone can get their hands on 100% of the project interest, LAT will be $4m richer; if only a partial sale is made in that time, the company will earn 50% of any proceeds above $4m.
LAGGARDS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| AOA | Ausmon Resorces | 0.001 | -50% | 111800 | $2,622,427 |
| VHL | Vitasora Health Ltd | 0.03 | -23% | 3864299 | $61,504,061 |
| MMR | Mec Resources | 0.004 | -20% | 504034 | $9,248,829 |
| PIL | Peppermint Inv Ltd | 0.002 | -20% | 100000 | $5,752,724 |
| C29 | C29Metalslimited | 0.015 | -17% | 1772692 | $3,135,388 |
| CUS | Coppersearchlimited | 0.016 | -16% | 100593 | $3,018,941 |
| RDS | Redstone Resources | 0.003 | -14% | 150000 | $3,619,936 |
| RNX | Renegade Exploration | 0.0035 | -13% | 616666 | $5,153,454 |
| CPV | Clearvue Technologie | 0.14 | -13% | 368291 | $42,980,027 |
| NYM | Narryermetalslimited | 0.031 | -11% | 101959 | $6,161,918 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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