Top 10 at 10: Calima sells oil project for $83m, twice its market cap

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 CE1 Calima Energy 0.1075 65% 4,970,975 $40,671,850 MCT Metalicity Limited 0.003 50% 593,000 $8,970,108 BBT Bluebet Holdings Ltd 0.245 26% 488,156 $39,214,262 BDG Black Dragon Gold 0.045 25% 300,000 $7,224,122 SI6 SI6 Metals Limited 0.005 25% 2,100,000 $7,975,438 DAF Discovery Alaska Ltd 0.036 20% 440,894 $7,027,041 DYM Dynamicmetalslimited 0.19 15% 10,057 $5,775,000 NPM Newpeak Metals 0.023 15% 53,955 $1,999,035 MTC Metalstech Ltd 0.27 15% 166,371 $44,404,329 PXX Polarx Limited 0.008 14% 358,262 $11,477,317

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Calima Energy (ASX:CE1) will sell subsidiary Blackspur Oil for ~$83.3m – about double the company’s current market cap.

CE1 says it will distribute no less than 85% of the funds received from the Blackspur sale to Calima shareholders “in the most tax effective form”.

Mobile betting co BlueBet (ASX:BBT) has played a straight bat to takeover speculation, saying that it is “regularly involved in discussions with third parties regarding strategic initiatives, including [fellow bookie] Betr, aimed at maximising value for its shareholders”.

“While discussions may occur, there can be no certainty that any transaction will eventuate.”

Explorer Discovery Alaska (ASX:DAF) will be leased the Vinsdale gold project in Alaska for an initial term of 15 years.

The project, which has been inactive over the past decade, comes with a historic NI 43-101 inferred resource of 22Mt @ 1.53g/t for 1.08Moz.

LOSERS

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

Code Company Price % Volume Market Cap JAV Javelin Minerals Ltd 0.001 -50% 10,000 $2,176,231 NWF Newfield Resources 0.13 -21% 27,000 $149,031,700 EDE Eden Inv Ltd 0.002 -20% 5,464 $9,167,534 AL8 Alderan Resource Ltd 0.005 -17% 500,000 $6,641,168 AMD Arrow Minerals 0.005 -17% 3,518,805 $20,842,591 RDS Redstone Resources 0.005 -17% 121,500 $5,528,271 TX3 Trinex Minerals Ltd 0.008 -11% 200,000 $13,383,222 IXU Ixup Limited 0.033 -11% 161,290 $40,238,817 ATH Alterity Therap Ltd 0.0045 -10% 22,161,299 $14,011,802 AX8 Accelerate Resources 0.036 -10% 212,500 $22,924,070

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