10 at 11ish: Kula Gold up after doubling lithium drilling

Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, 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.

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.

WINNERS

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

Code Company Price % Volume Market Cap ADS Adslot Ltd 0.004 33% 55,084 $9,673,487 MRD Mount Ridley Mines 0.002 33% 3,250,000 $11,677,324 CAV Carnavale Resources 0.005 25% 2,200,000 $13,694,207 GTG Genetic Technologies 0.003 20% 2,000,000 $28,854,145 NFL Norfolk Metals 0.455 20% 217,741 $11,523,498 KGD Kula Gold Ltd 0.047 18% 7,863,148 $16,774,631 A1G African Gold Ltd 0.035 17% 2,714 $5,079,336 MOM Moab Minerals Ltd 0.007 17% 1,154,166 $4,271,781 FRE Firebrickpharma 0.074 16% 1,444,942 $7,264,909 HNR Hannans Ltd 0.008 14% 1,320,000 $19,115,984

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Kula Gold (ASX:KGD) has announced it is doubling the current RC drilling program to a planned 2,000m at the Cobra lithium prospect, which is ~20km west of Greenbushes in Western Australia, the world’s largest hard rock lithium mine.

Hannans (ASX:HNR) has been awarded a European grant for its lithium ferrous phosphate (LFP) battery recycling project, ReLiFe. The project’s lead partner is Sunlight Group Energy Storage Systems with HNR presently represented in the project by its consultant Greenhouse Investment Group.

LOSERS

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

Code Company Price % Volume Market Cap AMD Arrow Minerals 0.001 -33% 2,093 $4,535,648 BP8 BPH Global Ltd 0.001 -33% 2,800,000 $2,423,345 VPR Volt Power Group 0.001 -33% 9,951 $16,074,312 AVM Advance Metals Ltd 0.003 -25% 803,000 $2,889,387 EDE Eden Inv Ltd 0.002 -20% 1,100 $8,409,092 IEC Intra Energy Corp 0.004 -20% 1,172 $8,303,908 FAR FAR Ltd 0.355 -18% 268,696 $40,198,197 LVT Livetiles Limited 0.005 -17% 60,000 $7,062,664 SFG Seafarms Group Ltd 0.005 -17% 3,741 $29,019,595 TG6 TG metals 0.845 -16% 366,212 $41,104,160

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Advance Metals (ASX:AVM) has raised a total of $746k from a share purchase plan and placement which, it says “given the market conditions is a pleasing result and reaffirms support for the company’s projects and vision”.

Far (ASX:FAR) received notice from the Senegal Tax Authority regarding potential adjustments linked to sale of its RSSD Project interest to Woodside Energy in 2021. The notification, addressing a capital gains tax claim of around US$4 million concerning FAR’s sale, was initially sent to Woodside, the current project owner, who shared a copy with FAR. If Woodside is liable for any part of this claim, FAR anticipates having to reimburse them as per their sale agreement.

TG Metals (ASX:TG6)has received firm commitments for a placement to raise $10 million (before costs). TG6 says the placement was strongly supported by institutional, sophisticated and professional investors and result in the issue of ~13.33 million new fully paid ordinary shares at 75cents/share.

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