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 are higher this morning, after Wall Street reacted with a full-throated round of indifference to US CPI figures, which have all but locked in an interest rate cut by the US Fed. The ASX 200 benchmark was up 0.25% in the first few minutes of trading.

 

WINNERS

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

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Latin Resources (ASX:LRS) was soaring Thursday morning on news that the company and its giant Salinas lithium project in Brazil is set to be acquired by mining giant Pilbara Minerals (ASX:PLS) , in a deal worth around $580 million. Pilbara is offering the equivalent of ~$0.20 a share, to be delivered as 0.07 PLS shares, a premium of 57% on the LRS 10-day VWAP.

Emerging lithium-ion battery recycler Redivium (ASX:RIL) has been boosted by news that the company has started trading on the Frankfurt stock exchange, with the dual-listing undertaken to support the company’s strategy to broaden its investor base outside Australia.

Volt Resources (ASX:VRC) was up on news that it’s planning a $500,000 capital raise via Convertible Note to professional and sophisticated investors, after the company’s successful push to reduce cash burn from $9,528,000 during FY23 to $4,610,000 in FY24.

Lachlan Star (ASX:LSA) was making gains on news of a wide disseminated copper sulphide system discovery at the Basin Creek Prospect, part of the Junee project in NSW, following comprehensive relogging of half-a-century-old diamond drill core. The company says it has uncovered historical high-grade intercepts including 21.3m @ 4.51% copper from 41.1m, and 3.1m @ 5.50% copper from 59.4m.

Kalina Power (ASX:KPO) was up early on news of the execution of important tolling MOUs with natural gas producers for its project development portfolio of Alberta based power plants incorporating CO2 capture and sequestration. The volumes set out under the MOUs represents 40,000 GJ per day and is sufficient to supply the requirements of KDP’s first ~170 MW project of ~ 36,300 GJs per day.

Litchfield Minerals (ASX:LMS) gained on Thursday morning on news that drilling at the Silver King project area in West Arunta has intersected massive base metal sulphides, with intercepts of 17m @ 2.47% Pb, 1.06% Zn, 15.7 g/t Ag from 49m, including 3m @ 11.84% Pb, 5.62% Zn, 0.1% Cu, 57.1 g/t Ag from 51m among the highlights.

 

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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