Top 10 at 11: Who has just inked a farm-in agreement and JV with Fortescue?

Magmatic Resources has inked a farm-in agreement and JV with Fortescue. Pic: Getty Images

Stockhead’s Top 10 at 11, published 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.

The S&P/ASX200 is up today, gaining 10.60 points or 0.14% to 7,744.10 at 10.30am (AEDT).

WINNERS

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

Code	Description	Last	%	Volume	MktCap
MAG	Magmatic Resources	0.073	62%	3,198,845	$13,756,176
RR1	Reach Resources Ltd	0.003	50%	102,000	$6,420,594
VUK	Virgin Money Uk PLC	4.07	33%	964,328	$2,039,308,682
IMC	Immuron Limited	0.165	32%	6,324,826	$28,474,793
8VI	8Vi Holdings Limited	0.05	25%	22,000	$1,676,457
ADG	Adelong Gold Limited	0.005	25%	400,000	$2,871,956
VAL	Valor Resources Ltd	0.0025	25%	307,740	$9,178,027
3DP	Pointerra Limited	0.059	20%	4,481,702	$35,615,924
AD1	AD1 Holdings Limited	0.006	20%	200,000	$4,493,242
ADD	Adavale Resource Ltd	0.006	20%	245,000	$5,055,861

Magmatic Resources (ASX:MAG) has announced the execution of a farm-in and JV agreement with FMG Resources, a wholly-owned subsidiary of Fortescue (ASX:FMG) to explore the Myall Project in central west New South Wales.

FMG will spend up to $14m over six years to earn up to 75% JV interest in the project, which MAG says hosts significant porphyry-associated copper-gold mineralisation within a similar geological setting to the Northparkes copper-gold mine 50km to the south.

Cloud platform for the processing and analysis of 3D LiDAR and 2D imagery Pointerra (ASX:3DP) says US energy utility customer Florida Power & Light (FPL) has awarded the company a US$1.9m contract. FPL will use 3DP’s AI driven analytics platform to extract information and insight from 3D LiDAR and imagery data.

LOSERS

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

Code	Company	Price	%	Volume	Market Cap
ACS	Accent Resources NL	0.006	-40%	1,790	$4,731,273
HHR	Hartshead Resources	0.008	-20%	8,934,941	$28,086,821
MCT	Metalicity Limited	0.002	-20%	108,995	$11,212,634
TMK	TMK Energy Limited	0.004	-20%	10,000	$30,612,897
VML	Vital Metals Limited	0.004	-20%	17,508	$29,475,335
YOJ	Yojee Limited	0.045	-18%	361,630	$9,577,321
AL8	Alderan Resource Ltd	0.005	-17%	3,000,000	$6,641,168
EMT	Emetals Limited	0.005	-17%	2,000	$5,100,000
IPB	IPB Petroleum Ltd	0.01	-17%	100,000	$6,781,469
MOH	Moho Resources	0.005	-17%	201,245	$3,235,069

Digital platform for the logistics industry Yojee (ASX:YOJ) says it’s received firm commitments to raise more than $2.5 m from sophisticated investors, including more than $1.5m from the second placement announced in November and a further $1 million placement on the same terms due to strong demand from new and existing investors.