Looks like it's gonne be one of those days... Pic via Getty Images.
Top 10 at 11: Helium and lithium are bright spots on a fairly grim ASX morning.
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.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading – for better or worse – and then I do my best to make sense of who’s moving where and why it might be happening.
Local markets have opened lower, down close to 1.5% after a collapse on Wall Street overnight, caused by a narrow miss on CPI data that put the final nail in the coffin for accelerated rate cuts by the US Fed. Spooked by the news, the S&P 500 fell by -1.44%, the Dow Jones index was down by -1.39%, and the tech-heavy Nasdaq slipped by -1.86%.
Here’s what’s been happening since the doors were opened this morning
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| LNU | Linius Tech Limited | 0.003 | 50% | 92,222 | $9,878,481 |
| BNL | Blue Star Helium Ltd | 0.014 | 27% | 7,686,754 | $21,364,918 |
| PRX | Prodigy Gold NL | 0.005 | 25% | 100,000 | $7,004,431 |
| AQX | Alice Queen Ltd | 0.006 | 20% | 8,280,330 | $3,454,921 |
| TIG | Tigers Realm Coal | 0.006 | 20% | 5,268,300 | $65,333,512 |
| TMR | Tempus Resources Ltd | 0.006 | 20% | 24,938 | $3,654,994 |
| ODE | Odessa Minerals Ltd | 0.007 | 17% | 1,166,666 | $6,259,695 |
| RGS | Regeneus Ltd | 0.007 | 17% | 7,285 | $1,838,621 |
| SGQ | St George Mining | 0.029 | 16% | 1,000,000 | $24,713,511 |
| 88E | 88 Energy Ltd | 0.0045 | 13% | 1,850,557 | $98,901,682 |
Positive news for Blue Star Helium (ASX:BNL) , after the company revealed results from initial testing and evaluation at Bolling #4 SESW well, which resulted in gas to surface flow of >4% helium under vacuum with flow up to 268.4 mscf/d. The company has engineers evaluating well production potential.
St George Mining (ASX:SGQ) has reported identifying a series of strong kilometre-long lithium soil anomalies in areas not yet drill tested for lithium at the company’s Mt Alexander prospect, with one anomaly, measuring 1.7km x 1.3km, along strike from the Manta Prospect, where drilling by St George intersected a 121m thick fractionated pegmatite.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| SSR | SSR Mining Inc | 7.42 | -50% | 48343 | $82,519,141 |
| GTE | Great Western Exploration | 0.024 | -40% | 856267 | $13,920,425 |
| EDE | Eden Innovations | 0.0015 | -25% | 450000 | $7,356,542 |
| SHG | Singular Health | 0.115 | -23% | 941996 | $23,514,722 |
| ROG | Red Sky Energy | 0.004 | -20% | 16341956 | $27,111,136 |
| TMK | TMK Energy Limited | 0.004 | -20% | 526331 | $30,612,897 |
| TOT | 360 Capital REIT | 0.44 | -19% | 367005 | $79,696,680 |
| ABE | Ausbond Exchange | 0.024 | -17% | 122800 | $3,267,375 |
| AUA | Audeara | 0.031 | -16% | 46271 | $5,350,486 |
| NVO | Novo Resources Corp | 0.15 | -14% | 147535 | $9,228,203 |
SSR Mining (ASX:SSR) has suspended operations at its Çöpler mine in Turkey as a result of a large slip on the heap leach pad. There are news reports that up to 9 miners are currently unaccounted for.
Great Western Exploration (ASX:GTE) has lost ground this morning, after the company reported assays from the phase 2 aircore drilling programme at the Firebird Gold Project which included 6m @ 1.05g/t Au from 124m, 6m @ 1.02g/t from 82m, and 4m @ 0.75g/t from 62m.
Singular Health Group (ASX:SHG) is showing a drop this morning on news that it has firm commitments to raise approximately $4.05m from institutional, sophisticated and professional investors via the issue of 36,843,111 fully paid ordinary shares at $0.11 per share, a 9.5% discount to a 20 day VWAP of A$0.121 as at 8 February 2024.
Similarly, Nova Eye Medical (ASX:EYE) is showing a loss after announcing the completion of a placement and institutional entitlement offer of $5.1 million, with a fully underwritten retail entitlement offer for a further $2.9 million for a total capital raise of $8 million.
