Magmatic Resources has inked a farm-in agreement and JV with Fortescue. Pic: Getty Images
Top 10 at 11: Who has just inked a farm-in agreement and JV with Fortescue?
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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.
