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Top 10 at 11: Clothing retailer Mosaic Brands up 26pc on $33.5m turnaround in FY23
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Stockhead’s Top 10 at 10, published when it’s good and ready 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 |
|---|---|---|---|---|---|
| KEY | Key Petroleum | 0.0015 | 50% | 6,000 | $1,967,928 |
| RKT | Rocketdna | 0.014 | 40% | 60,956,656 | $5,338,926 |
| MOZ | Mosaic Brands Ltd | 0.215 | 26% | 106,500 | $30,346,095 |
| BCC | Beam Communications | 0.235 | 24% | 517,786 | $16,420,165 |
| ZNC | Zenith Minerals Ltd | 0.11 | 24% | 174,558 | $31,361,899 |
| AMD | Arrow Minerals | 0.003 | 20% | 17,515,876 | $7,559,413 |
| RXH | Rewardle Holding Ltd | 0.027 | 17% | 374,293 | $12,105,394 |
| TAS | Tasman Resources Ltd | 0.007 | 17% | 100,258 | $4,276,016 |
| MTO | Motorcycle Holdings | 2 | 17% | 239,843 | $126,356,499 |
| DRX | Diatreme Resources | 0.026 | 13% | 305,961 | $85,784,460 |
Clothing retailer Mosaic Brands (ASX:MOZ) is on the winners board this morning after announcing it had delivered a $33.5 million turnaround in FY23 and is accelerating its strategy with 40 new mega stores planned for FY24.
MOZ delivered FY23 EBTDA of $17.1 million against a FY22 loss of $16.4 million.
“This $33 million turnaround is not simply a result of customers returning to in-store shopping post the pandemic,” MOZ CEO Scott Evans told the market.
“It is a recognition by the Group that retail has forever changed, customer expectations have shifted dramatically and that resuming our consistent pre-Covid profitability required taking a leap forward rather than taking a step back.”
MOZ’s brands include Millers, Rockmans, Noni B, Rivers, Katies, Autograph, W. Lane, Crossroads and Beme.
Arrow Minerals (ASX:AMD) is up after announcing it has secured rights to earn a 100% interest in the Simandou North Iron Project in Guinea, West Africa, through a staged earn-in.
AMD has executed a binding term sheet to acquire the remaining 39.5% interest in private Singaporean registered company Amalgamated Minerals Pte. Ltd, which holds majority interest in the project, considered host to the largest undeveloped high-grade iron ore province in the world.
The explorer holds a 33.3% interest in the project and is in the process of earning in to increase this interest to a 60.5% controlling interest and says the latest agreement provides a mechanism by which AMD can advance to a 100% interest.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MTH | Mithril Resources | 0.001 | -33% | 251,000 | $5,053,207 |
| ENV | Enova Mining Limited | 0.007 | -30% | 610,000 | $3,909,293 |
| MRD | Mount Ridley Mines | 0.0015 | -25% | 150,000 | $15,569,766 |
| CHN | Chalice Mining Ltd | 3.82 | -24% | 2,840,512 | $1,954,119,777 |
| LSR | Lodestar Minerals | 0.006 | -20% | 2,894,759 | $13,937,980 |
| BPP | Babylon Pump & Power | 0.004 | -20% | 300,000 | $12,288,857 |
| DCX | Discovex Res Ltd | 0.002 | -20% | 80,000 | $8,256,420 |
| M4M | Macro Metals Limited | 0.002 | -20% | 500,000 | $4,967,694 |
| HLX | Helix Resources | 0.005 | -17% | 1,484,514 | $13,938,875 |
| NAE | New Age Exploration | 0.005 | -17% | 50,000 | $8,615,393 |
On the wrong side of the fence today is Western Australia copper and gold explorer Lodestar Minerals (ASX:LSR) after announcing a $825k capital raising to repay debt and for working capital.
LSR says it will place 137.5 million fully paid ordinary shares at 6 cents/share to raise $825,000 (before costs). One free attaching unlisted option exercisable at 2 cents on or before August 31, 2024 will be issued for every two shares applied for with the issue of such options is subject to shareholder approval.
LSR says $550k of the funds raised will be used to repay debt and $275k will be used towards the Earaheedy drilling program and for general working capital.
