Top 10 at 10: M&A, high grade niobium, and another cap raise

Stockhead’s Top 10 at 10, published at ~10.40am 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).

Code Company Price % Volume Market Cap BLY Boart Longyear 2.67 53% 12,245 $517,860,725 ICN Icon Energy Limited 0.007 40% 1,000,087 $3,840,068 RMX Red Mount Min Ltd 0.004 33% 940,000 $8,020,728 EVR Ev Resources Ltd 0.011 22% 3,384,211 $9,896,295 ARN Aldoro Resources 0.1 22% 15,221 $11,039,147 DYM Dynamicmetalslimited 0.165 18% 30,000 $4,900,000 AGR Aguia Res Ltd 0.02 18% 2,649,450 $8,593,175 PXX Polarx Limited 0.007 17% 1,000,000 $9,837,701 ARR American Rare Earths 0.16 14% 142,178 $62,499,262 WOA Wide Open Agricultur 0.17 13% 12,093 $26,313,513

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130 year-old drilling company Boart Longyear (ASX:BLY) will be taken private by a US company via court approved plan of arrangement.

The cash deal values each share at US$1.9554 – a 96% premium to the 30-day volume-weighted average price.

The BLY board unanimously recommends the deal to shareholders.

EV Resources (ASX:EVR) has the green light to drill its high grade Parag copper-molybdenum project (EVR: 70%) in Peru.

And Aldoro Resources (ASX:ARN) is picking up rock chips grading up to 9% niobium at the Kameelburg project.

LOSERS

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

Code Company Price % Volume Market Cap EMU EMU NL 0.001 -33% 100,000 $3,037,157 VPR Volt Power Group 0.001 -33% 10 $16,074,312 AUK Aumake Limited 0.003 -25% 109,146 $7,657,627 AVW Avira Resources Ltd 0.0015 -25% 98,900 $4,267,580 IEC Intra Energy Corp 0.003 -25% 424,672 $6,643,126 ME1 Melodiol Glb Health 0.0015 -25% 853,642 $9,457,648 GMN Gold Mountain Ltd 0.004 -20% 89,500 $11,345,393 JAV Javelin Minerals Ltd 0.002 -20% 182,866 $2,720,289 WEL Winchester Energy 0.002 -20% 200,000 $2,551,055 KOB Kobaresourceslimited 0.068 -15% 241 $8,433,333 GTG Genetic Technologies 0.15 -14% 85,146 $20,198,018 IVZ Invictus Energy Ltd 0.135 -13% 4,609,197 $200,099,045

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Genetic Technologies Limited (ASX:GTG) received $1.75m from the federal government’s R&D tax incentive program for FY23.

And oil and gas hopeful Invictus Energy (ASX:IVZ) has raised more cash, this time $15m at 13c per share. This is a 21% discount to the 5 day VWAP.

It is also a small discount to the last cap raise in September of $15m at 15c per share.

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