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

Estimated read time 3 min read

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”.

The post Top 10 at 10: Super high uranium grades and an untouchable lithium IPO appeared first on Stockhead.

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