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 got off to a bumpy start this morning, with InfoTech stocks surging but the Materials sector has gone the other way thanks to the short-lived nature of the recent iron ore price spike, dragging the ASX 200 benchmark down by -0.25%.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
Code Description Last % Change Volume MktCap RXM Rex Minerals Limited 0.448 62.7 10,323,183 $211,172,959 T3D 333D Limited 0.008 60.0 505,607 $597,225 LVH Livehire Limited 0.018 38.5 1,105,778 $4,804,773 POS Poseidon Nick Ltd 0.005 25.0 20,800 $14,854,139 A3D Aurora Labs Limited 0.095 21.8 2,662,478 $28,218,964 GMN Gold Mountain Ltd 0.003 20.0 1,000,033 $7,944,359 LPD Lepidico Ltd 0.003 20.0 200,000 $21,472,798 FBR FBR Ltd 0.038 18.8 7,414,768 $142,142,399 PHX Pharmx Technologies 0.053 17.8 117,461 $26,932,806 MRR Minrex Resources Ltd 0.010 17.6 1,407,980 $9,221,374 BMO Bastion Minerals 0.007 16.7 100,000 $2,610,503
Rex Minerals (ASX:RXM) was the early flyer on Monday morning, no news that it’s entered a scheme implementation deed that will see MACH Metals Australia buy the entire company for $0.47 per Rex share – which is a huge premium of 79% to Rex’s 30-day VWAP2 and 98% to the 90-day VWAP, valuing the company at $393 million.
Gold Mountain (ASX:GMN) was also moving quickly on Monday, on news that the company has received assays from regional stream sediment sampling with widespread anomalies that cover a total area of approximately 80km2, signallingpotential for ultra-high grade hard rock monazite hosted REE-Nb-U-Sc mineralisation at its Down Under project.
Robotic technology company FBR (ASX:FBR) was up on news that its its first next-generation Hadrian X construction robot has arrived in the United States, where it will be transported to a facility in Fort Myers, Florida to undergo testing.
And Bastion Minerals (ASX:BMO) was up early on news that soil sampling has defined elevated lithium to 120 ppm north of the post–tectonic granite (Agl) identified in government mapping, along with elevated tantalum (to 18 ppm), rubidium (to 234 ppm), tin (to 13 ppm) and cerium (to 115 ppm) occur in the south of the soil grid, at its 100% owned Split Rock Dam project in WA.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
Code Company Price % Change Volume Market Cap PAM Pan Asia Metals 0.100 -37.5 56,550 $29,682,935 LSR Lodestar Minerals 0.001 -33.3 1,473,224 $3,035,096 OVT Ovanti Limited 0.008 -33.3 6,979,537 $14,881,266 DTR Dateline Resources 0.007 -22.2 6,596,217 $13,117,923 MVL Marvel Gold Limited 0.007 -22.2 4,347 $7,774,116 ATH Alterity Therap Ltd 0.004 -20.0 160,017 $26,225,577 HLX Helix Resources 0.002 -20.0 2,852 $8,160,484 PNX PNX Metals Limited 0.004 -20.0 165,000 $29,851,074 LMS Litchfield Minerals 0.130 -18.8 365,248 $4,410,000 1MCDA Morella Corporation 0.050 -16.7 142,780 $14,829,119
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