Top 10 at 11: Industrial Metals up over 100pc after aquiring Pippingarra lithium rights in Pilbara

Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, 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.

The ASX was up at the open with the S&P ASX 200 rising 0.33% at 10.40am (AEDT), despite a selloff on Wall Street.

In New York, the S&P 500 dropped -1.18%, the blue chips Dow Jones index was down by -0.76%, and the tech-heavy Nasdaq plunged by -1.76%.

The S&P 500 is now at the lowest level since May, edging to what analysts say is “correction territory”.

WINNERS

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

Code	Company	Price	%	Volume	Market Cap
WCG	Webcentral	0.275	150%	4,708,934	$36,203,885
IND	Industrial Minerals	0.9	100%	320,174	$28,971,000
MRQ	MRG Metals Limited	0.003	50%	66,666	$4,411,837
AVW	Avira Resources Ltd	0.002	33%	248,516	$3,200,685
SIS	Simble Solutions	0.004	33%	500,000	$1,808,852
SFG	Seafarms Group Ltd	0.005	25%	500,275	$19,346,397
TMX	Terrain Minerals	0.005	25%	20,000	$5,030,575
AYT	Austin Metals Ltd	0.006	20%	41,921	$5,079,373
RIE	Riedel Resources Ltd	0.006	20%	160,000	$10,297,035
VAL	Valor Resources Ltd	0.0035	17%	500,000	$11,620,004

Industrial Minerals (ASX:IND) is up 100% this morning after announcing it had inked a deal with North West Quarries to acquire an 80% interest in the non-construction material mineral rights, including lithium and high purity quartz (HPQ) at the operating Pippingarra quarry near Port Hedland.

IND says it holds several tenements in the region prospective for HPQ and lithium, making the addition of the project a logical expansion of its activities in the WA’s Pilbara lithium province.

REE and gold explorer Terrain Minerals (ASX:TMX) is up today after announcing it had raised more than $430k in a non-renounceable entitlement offer. The company says 15.85% of shareholders (187) participated in the offer with a recorded unallocated shortfall of ~$355k.

TMX in September raised ~$785k through a placement to sophisticated and professional investors.

LOSERS

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

Code	Company	Price	%	Volume	Market Cap
CLE	Cyclone Metals	0.001	-50%	5,000	$20,529,010
MXC	MGC Pharmaceuticals	0.001	-50%	1,950,995	$8,855,936
CCE	Carnegie Clean Energy	0.0015	-25%	230,302	$31,285,147
DCL	Domacom Limited	0.011	-21%	309,798	$6,097,025
ESR	Estrella Res Ltd	0.0055	-21%	9,106,670	$10,385,003
CRS	Caprice Resources	0.03	-21%	148,081	$4,436,763
SIX	Sprintex Ltd	0.012	-20%	1,556,361	$5,022,595
ADV	Ardiden Ltd	0.005	-17%	1,907,038	$16,130,012
GMN	Gold Mountain Ltd	0.005	-17%	16,803	$13,614,472
TAS	Tasman Resources Ltd	0.005	-17%	45,145	$4,276,016