Top 10 at 10: EML exits troubled Irish business, Liontown sinks after Albemarle exit

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 Description Last % Volume MktCap ME1 Melodiol Global Health 0.0015 50% 359,700 $4,916,618 GMN Gold Mountain Ltd 0.004 33% 315,000 $6,807,236 HLX Helix Resources 0.004 33% 1,720,000 $6,969,438 EML EML Payments Ltd 0.975 31% 3,780,721 $279,314,944 SBR Sabre Resources 0.037 28% 2,767,989 $10,500,574 CAV Carnavale Resources 0.005 25% 250,000 $13,694,207 LML Lincoln Minerals 0.006 20% 50,000 $8,520,226 EMP Emperor Energy Ltd 0.014 17% 82,285 $4,088,850 CPO Culpeo Minerals 0.05 16% 4,580,470 $5,774,501 H2G Greenhy2 Limited 0.008 14% 12,500 $2,931,291

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EML Payments (ASX:EML) has announced that it will exit its embattled Irish PCSIL business, concluding “a period of significant earnings losses, cash burn and management distraction from operating PCSIL”.

“Following a detailed analysis the PCISL board has made the decision to wind down PCSIL with the support of the EML board,” EML chairman Luke Bortoli says.

Sabre Resources (ASX:SBR) has launched its new exploration program at the Dingo uranium project within the explorers 1100km2 Ngalia Basin tenement package in the Northern Territory, to follow up to follow up on high grade results identified in previous drilling.

LOSERS

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

Code Description Last % Volume MktCap APM APM Human Services 0.87 -34% 4,400,276 $1,215,266,078 MHK Metalhawk 0.08 -33% 406,594 $11,929,734 EDE Eden Innovations 0.002 -33% 2,350,000 $11,034,813 TMX Terrain Minerals 0.005 -17% 200,000 $8,120,567 ASR Asra Minerals Ltd 0.006 -14% 800,000 $11,455,470 IND Industrialminerals 0.4575 -13% 171,393 $36,099,000 RR1 Reach Resources Ltd 0.0035 -13% 602,716 $12,841,188 NRZ Neurizer Ltd 0.011 -12% 1,074,702 $17,224,321 LTR Liontown Resources 1.2 -12% 7,583,813 $3,293,899,267 FTZ Fertoz Ltd 0.049 -11% 115,000 $14,180,915

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Liontown Resources (ASX:LTR) has plunged after NYSE-listed lithium giant Albemarle reportedly sold its 4% stake overnight in the Gina Rinehart-backed lithium group.

The shares were traded at $1.26 each, marking a 7.4% reduction from LTR’s closing price of $1.36/share on Wednesday, with the sale coming as Albemarle outlined cost-cutting measures to “re-phase its organic growth investments and optimise its cost structure in response to changing end-market conditions, particularly in the lithium value chain”.

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