Top 10 at 11: Chew toys, Rare Earths and Fake News are the morning’s headlines

Estimated read time 3 min read

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 opened 79 points higher, spot gold is back over US$2,000 per ounce, Britain is officially in a recession, and a guy who got kicked out of the army after 20 student dissidents ‘mysteriously vanished’ is probably going to be Indonesia’s next president, so… the end of year trip to Bali might be off, guys.

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 RML Resolution Minerals 0.004 33% 150,000 $3,779,990 LNU Linius Tech Limited 0.0025 25% 166,666 $10,393,481 OLY Olympio Metals Ltd 0.09 18% 65,707 $4,833,562 NRZ Neurizer Ltd 0.007 17% 75,000 $8,483,465 VAL Valor Resources Ltd 0.0035 17% 1,500,000 $12,661,004 BME Black Mountain Energy 0.008 14% 476,963 $2,682,569 TRI Trivarx Ltd 0.024 14% 150,000 $7,103,852 VML Vital Metals Limited 0.0045 13% 964,115 $23,580,268 ATC Altech Batt Ltd 0.084 12% 4,039,418 $123,999,442 G11 G11 Resources Ltd 0.028 12% 53,571 $18,728,053

WordPress Table Plugin

 

Mad Paws (ASX:MPA) was up this morning, after delivering half-year results that set tails wagging with news that the company has managed to increase group operating revenues substantially (+22% to $14.7 million), and managed to end H124 on an operating EBITDA that improved by $2.2 million (+85%) to ($0.4 million).

Olympio Metals (ASX:OLY) is surging on news that diamond drilling at the Cadillac Project is well advanced and ahead of schedule, with 22 holes completed to date on four separate pegmatite targets.

Energy minnow Far (ASX:FAR) has jumped this morning, after revealing to the market that it’s been given a capital gains tax reprieve, and now owes nothing on a $4 million tax bill it got from the Senegal government, following the sale of its SSD Project to Woodside in 2021.

Hastings Technology Metals (ASX:HAS) has signed a binding term sheet for a tolling and offtake agreement with Baotou Sky Rock Rare Earth New Material Co, under which rare earth concentrate from the Yangibana Project will be toll treated in China to produce separated rare earth oxides.

IperionX (ASX:IPX) is continuing its climb from two days ago, when it dropped news that its HAMR titanium furnace, the foundation asset to produce low-cost titanium, has completed final mechanical assembly and successfully passed factory acceptance tests and is now being transported to the US for installation.

 

LOSERS

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

Code Description Last % Volume MktCap PRX Prodigy Gold NL 0.005 -38% 6,253,489 $14,008,863 MTB Mount Burgess Mining 0.002 -33% 125,000 $3,134,440 MTL Mantle Minerals Ltd 0.002 -33% 55,555 $18,592,338 PUR Pursuit Minerals 0.004 -20% 707,473 $14,719,857 RR1 Reach Resources Ltd 0.002 -20% 2,388,754 $8,025,743 RNE Renu Energy Ltd 0.01 -17% 9,409 $8,099,608 PHL Propell Holdings Ltd 0.011 -15% 153,376 $2,669,622 SHO Sportshero Ltd 0.011 -15% 232,894 $8,031,827 1MC Morella Corporation 0.003 -14% 381,100 $21,625,798 POS Poseidon Nick Ltd 0.006 -14% 1,408,496 $25,994,743

WordPress Table Plugin

 

Prodigy Gold (ASX:PRX) has poured cold water on internet rumours that it was planning on paying a per-share $0.87 dividend, saying in an after-hours announcement last night that it has no idea where the rumour started, but there is no plan at all to declare or pay a dividend.

The post Top 10 at 11: Chew toys, Rare Earths and Fake News are the morning’s headlines appeared first on Stockhead.

You May Also Like