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.
Here’s what’s been happening since the doors were opened this morning… there’s lots happening, but hardly anyone’s offering much in the way of explanation.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CLE | Cyclone Metals | 0.0015 | 50% | 500,000 | $10,471,172 |
| RML | Resolution Minerals | 0.004 | 33% | 5,000,000 | $3,771,875 |
| EWC | Energy World Corpor. | 0.025 | 25% | 1,387,991 | $61,578,425 |
| GMN | Gold Mountain Ltd | 0.005 | 25% | 2,503,926 | $9,076,314 |
| RDS | Redstone Resources | 0.006 | 20% | 948,988 | $4,606,892 |
| KZR | Kalamazoo Resources | 0.115 | 17% | 93,200 | $16,794,208 |
| TMR | Tempus Resources Ltd | 0.007 | 17% | 100,358 | $2,070,767 |
| AD1 | AD1 Holdings Limited | 0.007 | 17% | 556,587 | $5,153,550 |
| OAR | OAR Resources Ltd | 0.0035 | 17% | 112,526 | $7,923,183 |
| G11 | G11 Resources Ltd | 0.029 | 16% | 853,117 | $18,728,053 |
Cyclone Metals (ASX:CLE) is up this morning on happy news regarding the first phase of metallurgical test work performed on its flagship Block 103 / Iron Bear Magnetite Iron Ore Project in Canada – the company says direct reduction magnetite concentrate produced grading 70.6% Fe with very low deleterious elements and silica below 1.2% which is “world class”.
Australian Vanadium (ASX:AVL) is climbing this morning on news that construction of its vanadium electrolyte manufacturing facility in the northern suburbs of Perth is now complete.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MCT | Metalicity Limited | 0.001 | -50% | 24,203 | $8,970,108 |
| MRQ | Mrg Metals Limited | 0.002 | -33% | 11,966,996 | $6,617,756 |
| SIT | Site Group Int Ltd | 0.002 | -33% | 55,555 | $7,807,471 |
| IVZ | Invictus Energy Ltd | 0.16 | -22% | 9,386,891 | $264,647,124 |
| VMS | Venture Minerals | 0.008 | -20% | 4,207,234 | $19,500,130 |
| AVE | Avecho Biotech Ltd | 0.003 | -14% | 1,437,024 | $11,092,540 |
| KRR | King River Resources | 0.012 | -14% | 6,970,620 | $21,749,349 |
| RNE | Renu Energy Ltd | 0.014 | -13% | 99,915 | $8,071,151 |
| BMM | Balkanminingandmin | 0.105 | -13% | 137,495 | $8,524,862 |
| CBL | Control Bionics | 0.036 | -12% | 2,500 | $5,939,737 |
Invictus Energy (ASX:IVZ) is showing a drop this morning, despite news that the company has found an additional gas discovery from the Mukuyu-2 sidetrack well in the Lower Angwa formation at its 80% owned and operated Cabora Bassa Project in Zimbabwe.
MRG Metals (ASX:MRQ) has fallen this morning despite yesterday’s announcement that the company has secured Corridor North Exploration Licence 10779L over the its Heavy Mineral Sands (HMS) project in Mozambique.
ReNu Energy (ASX:RNE) is also showing a dip, on the heels of the successful completion of an entitlement offer which provided existing shareholders with the opportunity to subscribe for 1 new share for every 2.46 shares held, for an issue price of $0.011.
Venture Minerals (ASX:VMS) is down this morning on news that the company has received binding commitments to raise $2 million through a single tranche placement with an issue price per Share of $0.0075, with the funds going towards a maiden resource at the Jupiter REE discovery in Western Australia.