Top 10 at 10: Super high uranium grades and an untouchable lithium IPO

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 CHK Cohiba Min Ltd 0.003 50% 603,334 $5,060,460 ME1 Melodiol Glb Health 0.0015 50% 58,462 $4,728,824 AVE Avecho Biotech Ltd 0.004 33% 1,250,000 $9,507,891 SIS Simble Solutions 0.004 33% 473,878 $1,808,852 GLA Gladiator Resources 0.035 21% 6,006,726 $17,611,608 PFE Panteraminerals 0.058 18% 58,750 $6,498,505 KM1 Kalimetalslimited 0.63 20% 4,293,434 $40,079,600 ICE Icetana Limited 0.033 18% 1,821 $7,409,596 GUE Global Uranium 0.115 15% 135,274 $21,220,897 LSR Lodestar Minerals 0.004 14% 1,000,000 $7,081,891

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Gladiator Resources (ASX:GLA) says re-analysis of uranium samples above the detection limit (4245ppm U3O8) returned grades up to 7139ppm.

The results come from a trenching program at Southwest Corner, part of the Mkuju project in Tanzania.

US brines hopeful Pantera Minerals (ASX:PFE) now controls 12,100 acres of ground in the Smackover formation, Arkansas, after growing its Superbird lithium project by another 16%.

And red hot IPO Kali Metals (ASX:KM1) says spodumene has been identified at Spargoville, part of its Higginsville lithium district in WA.

KM1 is now up 140% on its listing price of 25c/sh.

LOSERS

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

Code Company Price % Volume Market Cap AVW Avira Resources Ltd 0.001 -50% 649,998 $4,267,580 TX3 Trinex Minerals Ltd 0.006 -25% 64,381 $11,896,197 YAR Yari Minerals Ltd 0.009 -18% 4,666 $5,305,936 KRR King River Resources 0.012 -14% 191,499 $21,749,349 MOM Moab Minerals Ltd 0.006 -14% 2,367,130 $4,983,744 A1G African Gold Ltd. 0.032 -11% 216,872 $6,095,204 5EA 5Eadvanced 0.21 -11% 130,476 $72,726,538 AJL AJ Lucas Group 0.01 -9% 700 $15,133,026 POS Poseidon Nick Ltd 0.011 -8% 790,320 $44,562,417 IPT Impact Minerals 0.012 -8% 127,393 $37,241,151

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Boron lithium play 5EA Advanced Materials (ASX:5EA) – formerly American Pacific Borates — is a baggie’s worst nightmare, down +93% from its May 2022 peak of $3.73/sh.

First production from a pilot facility was originally pencilled in for early 2023, with a 250,000tpa large scale operation to be up and running in 2025.

In 2022 and 2023 a handful of board members resigned amid cost overruns and schedule misses, which 5AE blamed on its contractor.

A shareholder vote on a painful recapitalisation and restructuring deal (done at a 50% discount) will be held January 12.

If it is voted down, the company will implement the restructuring through bankruptcy, which would extinguish the equity interests “of stockholders in their entirety”.

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