Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, which is meant 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 – and then I do my best to make sense of who’s moving where and why it might be happening.
Local markets have opened lower, and at 10.30am the ASX 200 was sitting at -0.34%, after a mixed result on Friday for Wall Street that saw record highs. However, US stock futures fell pre-market on Sunday, and Aussie markets have taken a small hit.
Here’s what’s been happening since the doors were opened this morning
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
Code Description Last % Volume MktCap AXP AXP Energy Ltd 0.0015 50% 749,485 $5,824,681 DTR Dateline Resources 0.016 45% 8,504,288 $14,625,118 INP Incentiapay Ltd 0.004 33% 250,249 $3,731,790 ARR American Rare Earths 0.32 33% 5,100,700 $107,141,592 PUR Pursuit Minerals 0.005 25% 1,061,500 $11,775,886 RDS Redstone Resources 0.005 25% 105,000 $3,701,514 CHW Chilwaminerals 0.18 20% 17,168 $6,881,250 MCT Metalicity Limited 0.003 20% 300,000 $11,212,634 PPY Papyrus Australia 0.014 17% 6,343 $5,912,311 AND Ansarada Group Ltd 2.425 15% 192,745 $187,610,976
Dateline Resources (ASX:DTR) has reported hitting wide, high grade gold during drilling at its Colosseum Gold Project in San Bernardino County, California, with the highlight being 70.1m @ 6.53g/t Au in drill hole CM23-14 Inc. 25.9m @ 15.31g/t Au.
IncentiaPay (ASX:INP) delivered it’s half-yearly report after hours last night, showing that while revenue has faltered -6.41% to 8,674,712 in PCP, the company has managed to turn around Loss from ordinary activities after tax attributable to members by 80.6% to $3,236,540 ,compared to $16,707,381 on PCP.
American Rare Earths (ASX:ARR) is still moving on no news, up 35% this morning in early trade after telling the ASX yesterday that it isn’t sitting on any market sensitive news that everyone doesn’t already know about.
Ansarada (ASX:AND) has entered into a Scheme Implementation Deed with Datasite1, an entity owned by funds managed by CapVest, to acquire 100% of the fully diluted share capital in Ansarada at $2.50 cash per share, which implies an equity value of A$236.3 million2 and represents a premium of 19.0% to the last closing price of A$2.10 per share.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
Code Description Last % Volume MktCap HCL Highcom Ltd 0.17 -47% 809,753 32,858,455 GRE Greentech Metals 0.24 -29% 640,420 28,587,192 STX Strike Energy Ltd 0.3 -29% 15,959,498 1,202,134,861 1MC Morella Corporation 0.003 -25% 6,900 24,715,198 DOU Douugh Limited 0.004 -20% 21,052 5,410,345 LNU Linius Tech Limited 0.002 -20% 1,636 12,348,102 ICR Intelicare Holdings 0.013 -19% 2,061 3,757,192 AX8 Accelerate Resources 0.025 -17% 2,035,972 18,299,140 TRE Toubani Resources 0.1 -17% 12,412 16,063,880 CT1 Constellation Tech 0.0025 -17% 1,051,983 4,424,201
GreenTech Metals (ASX:GRE) has provided an update to how things are going at its Ruth Well and Osborne JV, announcing that outcrop sampling confirms significant mineralisation in 600m western extension to the Osborne pegmatite. The company had been in a trading halt since 08 February “out of an abundance of caution” while results of recent assays were analysed.
Strike Energy (ASX:STX) has announced that its /south Erregulla well has not performed as desired, with the company noting: “Upon opening the choke [of the SE-3 well], the well failed to flow but was also observed to be overbalanced.” The company plans to move to the up-dip SE-2 well and try again.
The post Top 10 at 11: A solid gold hit and a takeover are making the news today appeared first on Stockhead.
