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: Local markets have opened higher this morning, thanks to a surge in Energy stocks again this morning. The rise is also being fed by news that the Dow has hit another record high in the US overnight, and iron ore futures have climbed back over US$100/t, after rising 4.5% in the past week.

 

WINNERS

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

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Bass Oil (ASX:BAS) was rising early on Tuesday after the company announced that initial results from the Kiwi 1 Extended Production Test (EPT) indicate gas flow rates in line with expectations and condensate yields far exceeding the company’s expectations. Bass says that the well has been flowing 4.1 million cubic feet per day (mmcfd) of gas and 988 barrels of condensate per day at a flowing wellhead pressure of 1585 psi.

Antilles Gold (ASX:AAU) was up after releasing a supplemental announcement to its 21 August notice, outlining its find at the Nueva Sabana gold-copper deposit in central Cuba. In the gold column, Antilles is reporting intercepts including 2m @ 25.26g/t Au from 38.5m (incl 1m @ 45.39g/t Au), while on the copper side the results have turned up 25m @ 1.76% Cu from 52m (incl 4m @ 5.56% Cu).

Identitii (ASX:ID8) was up on news of a milestone in the patent infringement case it is fighting against JP Morgan in the US, after the US Patent and Trademark Office rejected JP Morgan’s call for Identitii’s patent to be set aside. As such, the matter remains pending in the United States District Court for the District of Delaware, and there is currently a motion to dismiss the case in front of the district court that has not yet been ruled upon.

Queensland Pacific Metals (ASX:QPM) was up on Tuesday on news that the company has signed new contracts to cover Townsville Power Station (“TPS”) dispatch rights and North Queensland Gas Pipeline (“NQGP”) gas transport and storage service, which the company says will provide it with ‘a significant reduction in fixed operating charges and ensures it will be financially robust with capacity to accelerate its’ gas production growth plans”.

 

LAGGARDS

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

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

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