Top 10 at 11: TG Metals soars 60pc on lithium results, Tietto Minerals gets off-market takeover bid

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 fell at the open with the S&P ASX 200 down 1.07% at 10.45am (AEDT) as war in the Middle East escalated over the weekend.

Wall Street’s S&P 500 Index fell 0.48% and into correction territory on Friday, while the blue chips Dow Jones Index fell 1.16%. However, the tech-heavy NASDAQ rose 0.38%.

WINNERS

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

Code Company Price % Volume Market Cap TG6 TG Metals 0.165 57% 1,144,760 $4,231,662 LRV Larvotto Resources 0.14 40% 241,008 $6,725,472 AHN Athena Resources 0.004 33% 100,000 $3,211,403 MTB Mount Burgess Mining 0.004 33% 4,320,280 $3,046,940 EPM Eclipse Metals 0.013 30% 2,039,812 $20,280,598 TIE Tietto Minerals 0.5525 30% 3,339,027 $479,268,442 JTL Jayex Technology Ltd 0.009 29% 199,898 $1,968,950 C1X Cosmos Exploration 0.135 29% 265,395 $4,669,875 FL1 First Lithium Ltd 0.375 25% 889,548 $21,015,500 KLI Killi Resources 0.068 24% 185,121 $3,276,628

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TG Metals (ASX:TG6) is up almost 60% this morning after announcing first drill holes into the Burmeister lithium soil anomaly within the Lake Johnson Project intersected high grade mineralisation up to 2.28% Li2O.

Five of the six holes completed intersected pegmatite with all pegmatite intervals hosting lithium mineralisation in spodumene.

“These are exceptional initial drilling results especially since we have only tested such a small part of the soil anomaly,” CEO David Selfe says.

Multi-commodity explorer Eclipse Metals (ASX:EPM) is up after announcing it has secured $2.3 million in funding from institutional investor Pioneer Resources Partners to fund exploration and general working capital.

Gold explorer Tietto Minerals (ASX:TIE) is also on the winners list this morning after receiving an off-market takeover offer from Zhaojin Capital to acquire all shares it doesn’t already own in the company for 58 cents/share or a 38% premium to the last close.

Zhaojin started building up its holding in TIE last year and is the company’s second biggest shareholder behind Chijin International HK, with around 7% of its shares.

LOSERS

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

Code Company Price % Volume Market Cap CCE Carnegie Clean Energy 0.001 -33% 1,065,120 $23,463,861 DXN DXN Limited 0.001 -33% 12 $2,585,010 NZS New Zealand Coastal 0.002 -33% 424,417 $5,001,030 AXP AXP Energy Ltd 0.0015 -25% 5,101,253 $11,649,361 EDE Eden Inv Ltd 0.002 -20% 578,197 $8,409,092 LBT LBT Innovations 0.004 -20% 2,010,000 $1,779,502 NMT Neometals Ltd 0.255 -19% 1,693,693 $174,292,000 MHC Manhattan Corp Ltd 0.005 -17% 300,000 $17,621,879 PEC Perpetual Res Ltd 0.018 -14% 71,348 $12,991,981 ASR Asra Minerals Ltd 0.006 -14% 136,771 $10,126,460

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