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Top 10 at 11: Sabre Resources soars after saying the magic words ‘major’, ‘lithium’ and ‘Andover’
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Stockhead’s Top 10 at 11, published at ~10.30am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.
It’s 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.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| EMU | EMU NL | 0.002 | 100% | 500,000 | $1,450,021 |
| SBR | Sabre Resources | 0.062 | 38% | 21,154,516 | $13,116,878 |
| AOA | Ausmon Resorces | 0.004 | 33% | 300,000 | $2,907,868 |
| MTL | Mantle Minerals Ltd | 0.002 | 33% | 250,000 | $9,221,169 |
| AUZ | Australian Mines Ltd | 0.021 | 31% | 4,538,154 | $10,461,158 |
| AX1 | Accent Group Ltd | 2.2 | 19% | 1,137,446 | $1,019,288,623 |
| BXN | Bioxyne Ltd | 0.014 | 17% | 44,583 | $22,819,745 |
| PFT | Pure Foods Tas Ltd | 0.11 | 16% | 100,000 | $10,425,292 |
| 1AG | Alterra Limited | 0.008 | 14% | 125,124 | $4,875,868 |
| ASR | Asra Minerals Ltd | 0.008 | 14% | 312,500 | $10,082,710 |
Sabre Resources (ASX:SBR) is flying high this morning, after (evidently) cracking the Super-Secret ASX Code to Gaining Value Quickly. Since the cat’s clearly out of the bag, I think it’s now safe to clue everyone in… so here’s how it works.
- Put out an ASX announcement with the words “Lithium”, “Andover” and “Major” in the title.
- Profit.
The announcement says that SBR has “established a very large, more than 210km2, tenement holding, directly to the east and within the same structural-intrusive corridor as the Andover lithium pegmatite discovery of Azure Minerals”.
Australian Mines (ASX:AUZ) is also up sharply this morning, on zero news – the last time the market heard from AUZ was when we all got told last week that CEO Michael Holmes is exiting the company to “pursue other interests” at the end of October.
AUZ’s main focus is the Sconi nickel-cobalt project in North Queensland, which has a binding offtake agreement in place with LG.
Lion One Metals (ASX:LLO) has jumped this morning, on news that the company’s found “a new mineralized structure carrying bonanza grade gold 1km to the north of the company’s 100% owned Tuvatu Alkaline Gold Project in Fiji”.
It’s been christened “The Lumuni occurrence”, and is described as exhibiting “a width at surface of approximately 0.5m to over 1m, and is manifested as two mapped zones of what may be a single continuous feature”.
Sampling of the structure has offered up results like this: 66.83g/t Au over 0.7m in Hole CH3850, 48.45g/t Au over 0.7m (including 92.55g/t Au over 0.3m) in Hole CH3851, and 15.18g/t Au over 1.1m (including 31.25g/t Au over 0.3m) in Hole CH3849.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| VAL | Valor Resources Ltd | 0.003 | -25% | 184,570 | $15,313,339 |
| ARN | Aldoro Resources | 0.165 | -20% | 221,386 | $27,597,867 |
| MXC | Mgc Pharmaceuticals | 0.0025 | -17% | 652,770 | $11,677,079 |
| AIV | Activex Limited | 0.017 | -15% | 50,000 | $4,310,052 |
| AJQ | Armour Energy Ltd | 0.12 | -14% | 4,729 | $14,436,816 |
| PRX | Prodigy Gold NL | 0.006 | -14% | 20,000 | $12,257,755 |
| GTR | Gti Energy Ltd | 0.007 | -13% | 100,000 | $15,582,033 |
| SPX | Spenda Limited | 0.007 | -13% | 288,404 | $29,371,377 |
| AHC | Austco Healthcare | 0.17 | -11% | 309,700 | $55,250,132 |
| GGE | Grand Gulf Energy | 0.009 | -10% | 4,645,000 | $16,752,470 |
Aldoro Resources (ASX:ARN) is falling this morning, after a tough couple of days. Aldoro announced to the market what looked like a pretty exciting nickel find at its Area 32 project on 17 August.
But… that was based on pXRF data, which is notoriously unreliable, and this instance is no exception. Aldoro got a Please Explain from the ASX, and then dropped an announcement this morning about those results, which reads in part:
“Despite completing a detailed Comparative Study of pXRF vs Laboratory Assay as part of announcement released on 17th August, the recently received laboratory assay results for NDD0032suggest that the pXRF unit has provided higher Ni grade results than expected in the upper oxide zone sub 55m in depth.”
Austco Healthcare (ASX:AHC) has fallen in early trade this morning, after an after-hours earnings report yesterday that said lots of really nifty stuff (Revenue from customers up 17% to $42.0 million, Software and SMA revenues up 65% to $8.5 million, Gross Margins increased to 53.4% compared to 52.5% in pcp).
But it also said this: “NPAT down $0.07 million to $2.3 million”. I’m assuming that’s why it’s falling.
Grand Gulf Energy (ASX:GGE) is down 10% this morning, despite revealing that its recent $3.2 million placement has been a success, and “ensures Grand Gulf is well-capitalised to progress development of the Jesse helium discovery”.
And Integrated Research (ASX:IRI) is falling on the heels of an earnings report showing “an improvement in TCV, statutory revenue and normalised profit, resulting from sales growth across all products and geographies during the year”.
