10 at 11ish: MC Mining bounces on takeover bid, Block rockets

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.

WINNERS

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

Code Company Price % Volume Market Cap CLE Cyclone Metals 0.0015 50% 505,209 $10,264,505 EMU EMU NL 0.0015 50% 392,516 $1,667,521 MCM Mc Mining Ltd 0.18 38% 61,652 $52,874,446 AVE Avecho Biotech Ltd 0.004 33% 100,000 $8,094,876 CCE Carnegie Cln Energy 0.002 33% 2,279,999 $23,463,861 ME1 Melodiol Glb Health 0.004 33% 21,796,108 $11,487,311 OAR OAR Resources Ltd 0.004 33% 4,156,665 $7,839,407 IEC Intra Energy Corp 0.005 25% 309,999 $6,643,126 TEG Triangle Energy Ltd 0.022 22% 10,131,432 $24,766,519 SQ2 Block 79.2 22% 405,134 $2,132,504,378

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MC Mining (ASX:MCM) says two of its largest shareholders Senosi Group Investment Holdings and Dendocept — acting in a consortium on behalf of shareholders and associates holding ~64.5% of shares on issue — have made an off-market takeover bid for all the shares not currently held.

Triangle Energy (ASX:TEG) has announced that its joint venture with Athena Exploration has been offered five blocks in the West of Shetlands gas province as part of the first tranche of awards in the 33rd UK licensing round.

Afterpay parent Block Inc (ASX:SQ2) announced its September quarter report, which included forecasts adjusted EBITDA earnings before for 2023 to be in the $US1.66 billion to $US1.68 billion range.

LOSERS

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

Code Company Price % Volume Market Cap ANR Anatara Lifesciences Ltd 0.022 -27% 210,475 $3,597,720 IDX Integral Diagnostics 2.07 -22% 303,211 $618,695,418 EDE Eden Inv Ltd 0.002 -20% 6,972 $8,409,092 MRQ MRG Metals Limited 0.002 -20% 10 $5,514,797 BUY Bounty Oil & Gas NL 0.007 -13% 720,000 $10,964,008 NET Netlinkz Limited 0.007 -13% 862,465 $28,940,227 CAY Canyon Resources Ltd 0.055 -11% 100,017 $62,977,523 FSG Field Solutions Holdings 0.044 -10% 2,543,851 $37,423,339 BCB Bowen Coal Limited 0.097 -9% 1,732,133 $237,127,497 NAE New Age Exploration 0.005 -9% 1,130,000 $9,866,444

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Anatara Lifesciences (ASX:ANR) has launched a partially underwritten two for five pro-rata non-renounceable entitlement offer to eligible shareholders in Australia and New Zealand to raise ~$1.055 million.

Integral Diagnostics (ASX:IDX) has announced its Q1 FY23 trading update, including revenue growth of 8.4% was achieved compared with pcp. However, IDX says clinical staff shortages, particularly in regional areas, and cost inflation have continued into FY24 driving labour costs to be higher than expected, adversely impacting Operating EBITDA.

Bowen Coking Coal (ASX:BCB) has announced completion of its fully underwritten institutional placement of new fully paid ordinary shares and the institutional component of its fully underwritten one for six pro rata accelerated non-renounceable entitlement. The $17 million institutional placement and $33 million non-renounceable entitlement offer were announced yesterday.

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