Top 10 at 11: Industrial Metals up over 100pc after aquiring Pippingarra lithium rights in Pilbara

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.

The ASX has up 0.33% at the open with the S&P ASX 200 at 10.40am (AEDT), despite a selloff on Wall Street.

In New York, the S&P 500 dropped -1.18%, the blue chips Dow Jones index was down by -0.76%, and the tech-heavy Nasdaq plunged by -1.76%.

The S&P 500 is now at the lowest level since May, edging to what analysts say is “correction territory”.

WINNERS

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

Code Company Price % Volume Market Cap WCG Webcentral 0.275 150% 4,708,934 $36,203,885 IND Industrial Minerals 0.9 100% 320,174 $28,971,000 MRQ MRG Metals Limited 0.003 50% 66,666 $4,411,837 AVW Avira Resources Ltd 0.002 33% 248,516 $3,200,685 SIS Simble Solutions 0.004 33% 500,000 $1,808,852 SFG Seafarms Group Ltd 0.005 25% 500,275 $19,346,397 TMX Terrain Minerals 0.005 25% 20,000 $5,030,575 AYT Austin Metals Ltd 0.006 20% 41,921 $5,079,373 RIE Riedel Resources Ltd 0.006 20% 160,000 $10,297,035 VAL Valor Resources Ltd 0.0035 17% 500,000 $11,620,004

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Industrial Minerals (ASX:IND) is up 100% this morning after announcing it had inked a deal with North West Quarries to acquire an 80% interest in the non-construction material mineral rights, including lithium and high purity quartz (HPQ) at the operating Pippingarra quarry near Port Hedland.

IND says it holds several tenements in the region prospective for HPQ and lithium, making the addition of the project a logical expansion of its activities in the WA’s Pilbara lithium province.

REE and gold explorer Terrain Minerals (ASX:TMX) is up today after announcing it had raised more than $430k in a non-renounceable entitlement offer. The company says 15.85% of shareholders (187) participated in the offer with a recorded unallocated shortfall of ~$355k.

TMX in September raised ~$785k through a placement to sophisticated and professional investors.

LOSERS

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

Code Company Price % Volume Market Cap CLE Cyclone Metals 0.001 -50% 5,000 $20,529,010 MXC MGC Pharmaceuticals 0.001 -50% 1,950,995 $8,855,936 CCE Carnegie Clean Energy 0.0015 -25% 230,302 $31,285,147 DCL Domacom Limited 0.011 -21% 309,798 $6,097,025 ESR Estrella Res Ltd 0.0055 -21% 9,106,670 $10,385,003 CRS Caprice Resources 0.03 -21% 148,081 $4,436,763 SIX Sprintex Ltd 0.012 -20% 1,556,361 $5,022,595 ADV Ardiden Ltd 0.005 -17% 1,907,038 $16,130,012 GMN Gold Mountain Ltd 0.005 -17% 16,803 $13,614,472 TAS Tasman Resources Ltd 0.005 -17% 45,145 $4,276,016

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None of the top 10 companies losing ground today had announcements out this morning.

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