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 Company Last % Volume MktCap MPK Many Peaks Minerals 0.11 51% 16764 $2,917,711 AHN Athena Resources 0.004 33% 4905583 $3,211,403 JAV Javelin Minerals Ltd 0.002 33% 1608725 $3,264,346 MRD Mount Ridley Mines 0.002 33% 3010000 $11,677,324 ME1 Melodiol Global Health 0.005 25% 1095300 $1,571,984 TTT Titomic Limited 0.059 20% 6226237 $44,724,344 CRB Carbine Resources 0.006 20% 1100000 $2,758,689 TAS Tasman Resources Ltd 0.006 20% 3986 $3,563,346 OSL Oncosil Medical 0.007 17% 20720 $11,847,247 SI6 SI6 Metals Limited 0.0035 17% 1000113 $7,106,578
Athena Resources (ASX:AHN) dropped an after hours announcement last night and a follow-up this morning, revealing that it had received correspondence from Entertainment Holdings, Inc. (OTC:XRXH) outlining the latter’s intention to make a proportional, off-market bid “to acquire 2 out of every 10 shares in Athena” – that’s a 20% stake to us normal folk – that it doesn’t already own, at $0.003 per share.
There’s a bunch of conditions on the proposal, including the appointment of two directors of XRXH’s choosing – once that’s been satisfied, XRXH will increase its offer to $0.006 per share, but that has to happen within the next two months.
Iris Metals’ (ASX:IR1) ongoing diamond drilling program “continues to deliver strong results”, with the company announcing “new wide and high-grade lithium intercepts” from its Black Diamond pegmatite prospect, with intercepts such as 53.55m @ 1.73% Li₂O from 125.0m, including 5.2m @ 2.39% Li2O and 9.7m @ 3.59% Li2O incl 4.9m @ 5.07% Li2O making the headlines.
Many Peaks Minerals (ASX:MPK) has announced that it has entered into an agreement to acquire 100% interest in Turaco Gold (ASX:TCG) and Predictive Discovery (ASX:PDI) joint venture holding the right to acquire an 85% interest in four mineral permits in Cote d’Ivoire, giving Many Peaks a running start at four well-advanced gold projects.
Si6 Metals (ASX:SI6) says it’s set to kick off an augur drill program off the back of “highly encouraging surface sample results from 16 soil and channel samples and 3 rock chips” at the Caldera Project on the edge of the Poços de Caldas Alkaline Complex, Minas Gerais.
Titomic (ASX:TTT) is celebrating a noteworthy sale, after the Netherlands Army piurchased 10 of the company’s D523 Cold Spray systems, with the sale worth more than 770,000 Euros.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
Code Description Last % Volume MktCap VPR Volt Power Group 0.001 -33% 4,131 16,074,312 29M 29Metals 0.37 -31% 7,114,715 378,917,588 MTL Mantle Minerals Ltd 0.0015 -25% 21,799,999 12,394,892 HOR Horseshoe Metals Ltd 0.007 -22% 160,000 5,818,308 BDG Black Dragon Gold 0.02 -20% 250,000 5,644,192 GMN Gold Mountain Ltd 0.004 -20% 4,280,000 14,877,528 HLX Helix Resources 0.004 -20% 250,000 11,615,729 ROG Red Sky Energy 0.004 -20% 3,350,000 27,111,136 COD Coda Minerals Ltd 0.12 -17% 324,697 20,643,849 CHK Cohiba Minerals 0.0025 -17% 52,714 10,764,733
29Metals (ASX:29M) has announced that it has suspended operations at the Capricorn Copper project, following an extended period of rainfall between late January and mid-March 2024, as a result of the weather in the region following consecutive tropical cyclones, resulting in a steady accumulation of water in regulated structures on site to levels now similar to the levels following the March 2023 extreme weather event.
Meanwhile, Coda Minerals (ASX:COD) is showing a significant dip this morning after announcing that it has received commitments to raise $2.27 million under a placement to professional, sophisticated, and senior manager investors, comprised of 30,727,000 new fully paid ordinary shares at $0.09, together with 15,363,500 unquoted attaching options exercisable at $0.15 each and expiring five years from date of issue.
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