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Top 10 at 11: Takeover talks and a mega gold upgrade are driving the market today
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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 – for better or worse – and then I do my best to make sense of who’s moving where and why it might be happening.
Anyway… here’s what’s been happening since the doors were opened this morning…
The ASX opened lower this morning, with the benchmark falling sharply at open and sinking lower still to be down -1.6% at 10.30am – but there are a handful of small caps on hand to bring us a few shards of good news.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| VML | Vital Metals Limited | 0.003 | 50% | 400,000 | $11,790,134 |
| ALR | Altair Minerals | 0.004 | 33% | 521,262 | $12,889,733 |
| TMK | TMK Energy Limited | 0.004 | 33% | 375,250 | $20,734,836 |
| VPR | Volt Group | 0.002 | 33% | 50,000 | $16,074,312 |
| SPX | Spenda Limited | 0.009 | 29% | 7,183,044 | $30,271,205 |
| BFC | Beston Global Ltd | 0.0025 | 25% | 3,004,400 | $3,994,094 |
| SIH | Sihayo Gold Limited | 0.0025 | 25% | 660,203 | $24,408,512 |
| 3DP | Pointerra Limited | 0.043 | 19% | 2,527,595 | $28,982,765 |
| DRX | Diatreme Resources | 0.021 | 17% | 572,839 | $67,135,664 |
| BNL | Blue Star Helium Ltd | 0.007 | 17% | 482,222 | $11,653,592 |
Delta Lithium (ASX:DLI) was up on Friday morning on news of a major upgrade to its gold resource at Mt Ida, which has grown the Baldock Deposit up 82% to 4.8Mt @ 4.4g/t gold for 674,000 ounces.
Pointerra (ASX:3DP) was up after revealing a juicy US government contract. The US Department of Energy (DOE) has awarded the company a US$1.63 million contract for a program to model a range of electric grid resilience investment scenarios by electric utilities.
And Diatreme Resources (ASX:DRX) was up, while the company is in the middle of trying to buy up Metallica Minerals (ASX:MLM) . Diatreme – which already holds more than 63% of MLM – extended the deadline on its offer yesterday, but has made it very clear that the current offer of 1.3319 Diatreme shares for every Metallica share is as high as it’s willing to go.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| CLZ | Classic Minerals | 0.001 | -50% | 1,259,286 | $1,511,096 |
| AVE | Avecho Biotech Ltd | 0.002 | -33% | 200,000 | $9,507,891 |
| EEL | Enrg Elements Ltd | 0.002 | -33% | 104,533 | $3,029,895 |
| OAR | OAR Resources Ltd | 0.001 | -33% | 300,000 | $4,833,150 |
| 1TT | Thrive Tribe Tech | 0.003 | -25% | 54,171 | $1,882,486 |
| BCT | Bluechiip Limited | 0.004 | -20% | 116,753 | $5,910,198 |
| GMN | Gold Mountain Ltd | 0.002 | -20% | 4,896,896 | $7,944,359 |
| IVX | Invion Ltd | 0.004 | -20% | 245,000 | $32,122,661 |
| CCZ | Castillo Copper Ltd | 0.005 | -17% | 383,056 | $7,797,032 |
| EVR | Ev Resources Ltd | 0.005 | -17% | 695,962 | $7,927,629 |
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