No one got around to explaining to Rebecca that she didn't have to boil the entire lake to make her morinng cuppa. Pic via Getty Images.
Top 10 at 11: Bumper US lithium find and a Chinese trade deal are today’s good news
News
share
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 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. The ASX Futures was pointing 0.9% lower this morning, after US markets fell on Friday along with key commodities across the board, including copper – which finished 1.1% lower on Friday for a 7.9% drop for the week – while iron ore prices eased. Gold fell below US$2,400/oz on Friday, but has since edged back to be around US$2,402 at the time of writing.
Oil fell sharply on talks of a peace deal in the Middle East, while a rising US dollar also put pressure on prices, pushing WTI Crude to US$79.06 a barrel.
The ASX got off to a bumpy start this morning, dipping just over 0.7% at open, where it has remained for the first 20 minutes of the session, with every sector in the red and Energy stocks taking the worst of the beating, down 1.55%.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| ASE | Astute Metals NL | 0.08 | 116.2 | 1,564,380 | $15,689,115 |
| AD1 | AD1 Holdings Limited | 0.006 | 50.0 | 365,636 | $3,594,594 |
| FFF | Forbidden Foods | 0.012 | 33.3 | 14,370 | $2,045,011 |
| PSL | Paterson Resources | 0.022 | 29.4 | 20,000 | $7,752,644 |
| KOR | Korab Resources | 0.009 | 28.6 | 23,194 | $2,569,350 |
| AUK | Aumake Limited | 0.005 | 25.0 | 13,876,888 | $7,657,627 |
| MSG | Mcs Services Limited | 0.005 | 25.0 | 1,100,010 | $792,399 |
| PNX | PNX Metals Limited | 0.005 | 25.0 | 9,800 | $23,880,859 |
| POS | Poseidon Nick Ltd | 0.005 | 25.0 | 178,100 | $14,854,139 |
| FME | Future Metals NL | 0.027 | 22.7 | 4,068,729 | $12,650,891 |
Astute Metals (ASX:ASE) was up early on Monday morning, reporting assay results from a further four drillholes at its Red Mountain lithium project in Nevada, USA – and the news is good. Astute says drilling has found thick intersections of lithium above 1,000ppm, with the standout result being 13.7m @ 1,070ppm Li / 0.57% Lithium Carbonate Equivalent1 (LCE) from surface, including 83.8m @ 1,230ppm Li / 0.65% LCE from 16.8m.
AuMake International (ASX:AUK) was up on Monday morning on news that the company has entered a non-binding three (3) year strategic co-operation framework with Chinese State-Owned Enterprise Yangtze River New Silk Road International Logistics, to “establish a comprehensive end-to-end supply chain network for Australian goods and services”.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| PLC | Premier1 Lithium Ltd | 0.012 | -25.0 | 1,802,000 | $2,793,186 |
| CAV | Carnavale Resources | 0.004 | -20.0 | 73,002 | $17,117,759 |
| CTN | Catalina Resources | 0.0025 | -16.7 | 100,000 | $3,715,461 |
| DTR | Dateline Resources | 0.005 | -16.7 | 750,000 | $8,745,282 |
| TX3 | Trinex Minerals Ltd | 0.0025 | -16.7 | 113,331 | $5,485,957 |
| AAU | Antilles Gold Ltd | 0.003 | -14.3 | 760 | $5,114,997 |
| POD | Podium Minerals | 0.037 | -14.0 | 342,415 | $19,554,112 |
| DRO | Droneshield Limited | 1.695 | -13.5 | 8,598,734 | $1,494,598,764 |
| ALY | Alchemy Resource Ltd | 0.007 | -12.5 | 500,000 | $9,424,610 |
| EOF | Ecofibre Limited | 0.042 | -12.5 | 22,445 | $18,185,947 |
Read MoreMarkets
