Good morning, and welcome to Stockhead’s Top 10 at around 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 today was taken at about 10:30am, once every ASX stock started trading.

Briefly, here’s what’s been happening already this morning as some calm returns to markets after last week’s shocking awe.

The CBOE Volatility Index (VIX), which measures market fear, plummeted some 14% after US Federal Reserve officials said on Thursday that they were confident inflation is easing and hinted at possible rate cuts. Wall Street responded positively on Friday and so have we this morning.

Here’s which stocks are making waves, and why, on Monday morn.

 

WINNERS

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

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Kincora Copper (ASX:KCC) and Woomera Mining (ASX:WML) have announced a deal in the shape of a legally binding earn-in term sheet which grants Woomera a 100% earn-in interest in KCC’s Bronze Fox Project, located in the world-class Southern Gobi copper belt in Mongolia.

Cameron McRae, Chairman of Kincora, and Sam Spring, WML President and CEO in concert:

“Woomera has a mandate for large scale new discovery opportunities backed by a team and shareholder register with very considerable prior successes. They are a well motivated and funded partner looking get drilling from September with a high impact program.

“This transaction realises Kincora’s strategic objective to retain upside to our Mongolian assets, focus efforts and capital towards our core NSW projects, and, look to do deals to unlock the value of project portfolio.”

The juicy bits:

• Bronze Fox includes an Inferred Mineral Resource of 194.1 Mt of 0.2% Cu and 0.07 g/t Au containing 426kt of Cu and 437koz Au for the West Kasulu prospect
• The Inferred Resource covers a small section of one of three large near surface porphyry complexes with a number of drill ready priority targets defined
• Woomera can earn an 80% interest in the Project (in two phases) by spending US$4m (with an election to acquire 100% once WML has earned its 80% interest)
• Drilling program scheduled to commence in the September quarter testing new greenfield and resource expansion targets
• Firm commitments have been received for a $1.7m share placement with an additional $0.3m Share Purchase Plan to be offered to eligible shareholders

 

St George Mining (ASX:SGQ) has dropped an urgent sounding update on its proposed acquisition of the “advanced, high-grade niobium-REE Araxá Project in Minas Gerais, Brazil”.

And it goes like this:

“The company is aware of misinformation circulating in online chat rooms and social media regarding Araxá – particularly claims that an active tailings dam is located within the Project area and that significant high-grade mineralisation discovered at the Project is beneath the tailings dam.

“This information is false and not correct,” notes SGQ.

St George says Companhia Brasileira de Metalurgia e Mineração (CBMM), which supplies more than 80% of the world’s niobium from mining operations near the Project – operated, until 1985, a tailings dam (“Dam B4”, and sometimes referred to as Dam 4 in CBMM’s English language publications) on tenement 832.150/1989 that forms part of the Project.

“CBMM, which is responsible for managing Dam B4, has progressively rehabilitated and integrated Dam B4 into the environment.”

SGQ goes on to debunk the online chatter, including a photo of the current status of Dam B4, sourced from CBMM’s website.

“Importantly, the significant niobium intersections at the Project – being more than 500 intercepts of greater than 1% Nb2O5 – that St George will use to underpin a potential maiden JORC compliant mineral resource are located on tenement 831.972/1985.

No other tailings dams – neither historical nor presently active – are within the Project area or proximal to the Project.”

 

Si6 Metals (ASX:SI6) says it has received 266 soil sample assay results at its Padre Paraíso lithium prospect in the Lithium Valley, Brazil, where “significant anomalous lithium zones have been identified with strong lithium potential.”

The Padre Paraiso prospect is located ~20km from Sigma Lithium Corp’s high purity “Green Lithium” concentrate mine (Grota do Cirilo Project) – with a 85.6Mt measured and indicated resource at 1.4% (Li2O1).

SI6 says the high-grade anomalous lithium soil zones “demonstrate a significant lithium discovery potential within a confirmed and extensive 3km pegmatite corridor.”

 

Back in the good books for a change is Mighty Kingdom (ASX:MKL), which on Friday announced the global launch of the free-to-play mobile game “POWER RANGERS: MIGHTY FORCE” (their emphasis) in collaboration with Canadian publisher East Side Games Group (TSX: EAGR) and Hasbro.

MKL says the game is now available for download worldwide through the App Store and Google Play Store.

“With over 100,000 players pre-registered across Apple and Android platforms and solid pre-release metrics, MKL is confident in the game’s ability to meet performance expectations.”

MKL and ESGG will share sales revenue, with other terms of the Partnership “commercial in confidence.”

 

HighCom (ASX:HCL) last week dropped a slow burn earnings update which has caught fire this morning. On Thursday the defence contractor said it expects revenue to come in for the full year at the lower end of guidance, while its cash position has significantly improved – from $1.6m to $6.2m.

HCL also flagged its key relationship with US AeroVironment has extended and expanded to new products. New orders of ballistic products for US domestic and international customers valued at $13.7m, to be supplied during H1 FY25.

LAGGARDS

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

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St George Mining is a Stockhead advertiser at the time of writing, but did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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