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Rise and Shine: Everything you need to know before the ASX opens
| Gregor Stronach
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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 has fallen at the open with the S&P ASX 200 down 0.79% at 10.40am (AEDT) following higher Aussie inflation data for September released yesterday and sharp falls on Wall Street overnight.
The S&P 500 closed 1.4% lower and the tech-focused NASDAQ fell 2.4% into correction territory, closing more than 10% below a recent high. The blue-chip Dow Jones index also lost 0.3%.
Stockhead’s Eddy Sunarto has more on what happened on Wall Street overnight in his Market Highlights, including Google parent Alphabet plunging 9.5% after its Q3 cloud division results missed estimates.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| NVQ | Noviqtech Limited | 0.004 | 33% | 10,000 | 3,714,586 |
| VAL | Valor Resources Ltd | 0.004 | 33% | 500,000 | 11,620,004 |
| LSA | Lachlan Star Ltd | 0.09 | 32% | 153,275 | 14,114,977 |
| EDE | Eden Inv Ltd | 0.0025 | 25% | 69,195 | 6,727,274 |
| GW1 | Greenwing Resources | 0.135 | 17% | 355,937 | 20,038,920 |
| BFC | Beston Global Ltd | 0.007 | 17% | 70,000 | 11,982,281 |
| GMR | Golden Rim Resources | 0.022 | 16% | 309,376 | 11,240,179 |
| EFE | Eastern Resources | 0.008 | 14% | 145,681 | 8,693,625 |
| LVE | Love Group Global | 0.12 | 14% | 84,000 | 4,256,088 |
| FME | Future Metals NL | 0.035 | 13% | 66,900 | 12,809,325 |
Graphite play Greenwing Resources (ASX:GW1) is up 17% today after announcing its management team had concluded a site visit to its 100% owned Graphmada Mining Complex in Madagascar and held a series of meetings in Madagascar regarding the progression of the Millie’s Reward hard rock lithium project.
Also on the winners list this morning is Linius Technologies (ASX:LNU) after announcing a share purchase plan (SPP) which is targeting to raise $600k. The SPP will be offered at $0.002/share, being a 20% discount to the last traded price and the same price as a recently completed placement with professional and sophisticated investors which has raised $685k.
The market has reacted positively to iron ore producer Fenix Resources (ASX:FEX) announcing key appointments to the company’s executive leadership Team.
John Welborn has been appointed executive chairman of FEX from today, after being appointed non-executive Chairman of Fenix on in November 2021 and acting as interim executive chairman since October 2022.
Founder of Newhaul Pty Ltd Craig Mitchell has been appointed as executive director of Fenix effective today after joining the board as a non-executive director in September 2022 following acquisition by the company of 100% ownership in Fenix-Newhaul Pty Ltd.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Ticker | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MXC | MGC Pharmaceuticals | 0.001 | -50% | 1,142,168 | $8,855,936 |
| CHK | Cohiba Min Ltd | 0.002 | -33% | 1,045,766 | $6,639,733 |
| FHS | Freehill Mining Ltd | 0.002 | -33% | 400,000 | $8,534,403 |
| GCR | Golden Cross | 0.002 | -33% | 168,919 | $3,291,768 |
| IEC | Intra Energy Corp | 0.003 | -25% | 30,000 | $6,643,126 |
| ME1 | Melodiol Global Health | 0.005 | -23% | 71,871,118 | $22,730,328 |
| LNU | Linius Tech Limited | 0.002 | -20% | 38,755,582 | $11,305,727 |
| YPB | YPB Group Ltd | 0.002 | -20% | 1 | $1,858,654 |
| MGT | Magnetite Mines | 0.33 | -19% | 60,953 | $31,089,845 |
| FAU | First Au Ltd | 0.0025 | -17% | 115,529 | $4,355,980 |
Cohiba Minerals (ASX:CHK) has fallen today after announcing reconnaissance work at Big Rock – its lithium and rare earth elements prospects in Ontario, Canada – was hampered due to a decommissioned bridge and field conditions.
“We are pleased to announce that Dahrouge Consulting has completed the initial reconnaissance work on each of the Gathering Lake, Rogers Creek and Ottertail prospects in Ontario, Canada,” CEO Andrew Graham says.
“Access to the Big Rock prospect was hampered due to a decommissioned bridge and field conditions, and as such work on this prospect was postponed with additional work being allocated to the other prospects.”
Explore More
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Investor Guide: Battery Metals FY2023
Read MoreGraphiteIron OreTech
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Featured Companies
- ASX: GW1 Greenwing Resources
- ASX: FEX Fenix Resources
- ASX: CHK Cohiba Minerals
- ASX: LNU Linius Technologies
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