Top 10 at 10: Estrella Resources inks deal to start world-first helicopter-borne electromagnetic survey

Stockhead’s Top 10 at 10, 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).

Estrella Resources (ASX:ESR) is on the winners list today after inking a deal with Canadian-based geophysical firm Expert Geophysics to commence a world-first helicopter-borne electromagnetic survey (TargetEM) at its Carr Boyd Nickel Project, ~80km from Kalgoorlie in WA.

ESR said the 253km2 survey will target all of the company’s tenure at Carr Boyd as shown, encompassing all prospective horizons identified in the recent exploration review including the high priority Colreavy Komatiite target which has had no previous modern geophysics undertaken.

MD Chris Daws said ESR has always looked to improve its discovery advantage using ultra-modern exploration techniques and technology.

“We were the first to successfully use the revolutionary e-vibe seismic system in WA and our team is now employing a world-first in geophysical surveying methods.

“This is next-gen geophysical system technology that even the majors have not yet utilised.”

Also on the winners list is Queensland focused copper gold exploration company Coppermoly (ASX:COY)  after announcing it had completed a placement through the issue of 105,740,000 fully paid ordinary shares at $0.008/share to raise $845,920.

Following the placement, Hongkong Ausino Investment Limited, owned and controlled by Dr Fu Minlu, a Perth based mineral explorer, will become a substantial shareholder in Coppermoly owning 19.95%.

His company is also a major shareholder of other Australian listed companies including Tietto Minerals (ASX:TIE) and Aldoro Resources (ASX:ARN). 

“Our recently established geophysical exploration company is based in Perth and can provide advanced geophysical exploration technology to Coppermoly immediately,” he said in a COY announcement. 

Funds raised from the Placement will be used to advance the company’s Queensland copper gold exploration projects and for general working capital.

LOSERS

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