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 that have made announcements.
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.
Anyway… 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 TD1 Tali Digital Limited 0.0015 50% 3,883,001 $3,295,156 MRD Mount Ridley Mines 0.002 33% 620,364 $11,677,324 CUE CUE Energy Resource 0.084 25% 3,712,162 $46,774,021 CTO Citigold Corp Ltd 0.005 25% 200,000 $12,000,000 EDE Eden Inv Ltd 0.0025 25% 451,412 $7,356,542 LNR Lanthanein Resources 0.005 25% 257,852 $5,159,248 NRZ Neurizer Ltd 0.005 25% 1,360,100 $5,855,643 VAL Valor Resources Ltd 0.003 20% 816,356 $11,472,533 ARL Ardea Resources Ltd 0.47 18% 159,305 $78,806,766 NFL Norfolk Metals 0.135 17% 169,880 $4,078,968
Cue Energy Resources (ASX:CUE) is up this morning after delivering its half-year report, showing a 22% increase in revenue to $29.3 million, and an underlying EBITDAX of $19.3 million, up 21%, and a 34% NPAT increase to $9.1 million.
Ardea Resources (ASX:ARL) and its Japanese consortium partners have reached an agreement on the scope and budget for the Kalgoorlie Nickel Project – Goongarrie Hub Definitive Feasibility Study. The Consortium has advised Ardea that they have completed their due diligence, and a final investment decision is in the works.
Norfolk Metals (ASX:NFL) is up this morning after delivering an upbeat projects update for its copper-gold play in Tasmania, and an expansion to its uranium exploration in South Australia.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
Code Company Price % Volume Market Cap CMD Cassius Mining Ltd 0.02 -35% 3,146,482 $16,802,139 DCX Discovex Res Ltd 0.001 -33% 311,239 $4,953,852 SI6 SI6 Metals Limited 0.003 -25% 200,000 $7,975,438 WHK Whitehawk Limited 0.028 -20% 3,687,413 $11,832,475 ATH Alterity Therapeutics 0.004 -20% 3,084,287 $21,913,774 MTL Mantle Minerals Ltd 0.002 -20% 5,113,769 $15,493,615 PUA Peak Minerals Ltd 0.002 -20% 10,814 $2,603,442 DRO Droneshield Limited 0.76 -18% 7,252,248 $569,302,858 GTG Genetic Technologies 0.1 -17% 7,500 $13,850,070 1MC Morella Corporation 0.003 -14% 26,245 $21,625,798
The ongoing stoush between Cassius Mining (ASX:CMD) and the Government of the Republic of Ghana has inched forward, with a 3-person tribunal rejecting Ghana’s request for a stay of arbitration and signalling it will move ahead with proceedings. Cassius has made a claim for US$ 275 million as a consequence of Ghana’s alleged breaches of contract and statute.
Alterity Therapeutics (ASX:ATH) is down this morning in the wake of an after-the-bell half-yearly report that revealed the company has banked a $6,507,183 loss for the six months to December 2023, a 19% improvement on pcp.
Si6 Metals (ASX:SI6) is off 20% this morning, but the only news from there is a reshuffle in the boardroom, that sees Ian Kiers appointed Chair of the Board and Patrick Antonio Volpe appointed to the Board as a non-executive director, effective immediately in the wake of David Sanders resigning to pursue other interests.
WhiteHawk (ASX:WHK) has dropped this morning after its preliminary half-year report showed a US$2.8 million loss after income tax, which includes non-cash expenditures relating to depreciation and amortisation expense of US$53,000, share based payment expenditure of US$250,000 and provision for doubtful debt of US$171,000.
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