Top 10 at 11: Takeover talks and assay results dominate the morning’s news

Welcome to Stockhead’s Top 10 at 11-ish, a short, sharp update to help frame the trading day.

Pic via Getty Images.

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…

The ASX got off to a bumpy start this morning, with InfoTech stocks surging but the Materials sector has gone the other way thanks to the short-lived nature of the recent iron ore price spike, dragging the ASX 200 benchmark down by -0.25%.

WINNERS

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

Code	Description	Last	% Change	Volume	MktCap
RXM	Rex Minerals Limited	0.448	62.7	10,323,183	$211,172,959
T3D	333D Limited	0.008	60.0	505,607	$597,225
LVH	Livehire Limited	0.018	38.5	1,105,778	$4,804,773
POS	Poseidon Nick Ltd	0.005	25.0	20,800	$14,854,139
A3D	Aurora Labs Limited	0.095	21.8	2,662,478	$28,218,964
GMN	Gold Mountain Ltd	0.003	20.0	1,000,033	$7,944,359
LPD	Lepidico Ltd	0.003	20.0	200,000	$21,472,798
FBR	FBR Ltd	0.038	18.8	7,414,768	$142,142,399
PHX	Pharmx Technologies	0.053	17.8	117,461	$26,932,806
MRR	Minrex Resources Ltd	0.010	17.6	1,407,980	$9,221,374
BMO	Bastion Minerals	0.007	16.7	100,000	$2,610,503

Rex Minerals (ASX:RXM) was the early flyer on Monday morning, no news that it's entered a scheme implementation deed that will see MACH Metals Australia buy the entire company for $0.47 per Rex share – which is a huge premium of 79% to Rex’s 30-day VWAP2 and 98% to the 90-day VWAP, valuing the company at $393 million.

Gold Mountain (ASX:GMN)  was also moving quickly on Monday, on news that the company has received assays from regional stream sediment sampling with widespread anomalies that cover a total area of approximately 80km2, signallingpotential for ultra-high grade hard rock monazite hosted REE-Nb-U-Sc mineralisation at its Down Under project.

Robotic technology company FBR (ASX:FBR) was up on news that its its first next-generation Hadrian X construction robot has arrived in the United States, where it will be transported to a facility in Fort Myers, Florida to undergo testing.

And Bastion Minerals (ASX:BMO) was up early on news that soil sampling has defined elevated lithium to 120 ppm north of the post-tectonic granite (Agl) identified in government mapping, along with elevated tantalum (to 18 ppm), rubidium (to 234 ppm), tin (to 13 ppm) and cerium (to 115 ppm) occur in the south of the soil grid, at its 100% owned Split Rock Dam project in WA.

LAGGARDS

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

Code	Company	Price	% Change	Volume	Market Cap
PAM	Pan Asia Metals	0.100	-37.5	56,550	$29,682,935
LSR	Lodestar Minerals	0.001	-33.3	1,473,224	$3,035,096
OVT	Ovanti Limited	0.008	-33.3	6,979,537	$14,881,266
DTR	Dateline Resources	0.007	-22.2	6,596,217	$13,117,923
MVL	Marvel Gold Limited	0.007	-22.2	4,347	$7,774,116
ATH	Alterity Therap Ltd	0.004	-20.0	160,017	$26,225,577
HLX	Helix Resources	0.002	-20.0	2,852	$8,160,484
PNX	PNX Metals Limited	0.004	-20.0	165,000	$29,851,074
LMS	Litchfield Minerals	0.130	-18.8	365,248	$4,410,000
1MCDA	Morella Corporation	0.050	-16.7	142,780	$14,829,119

Originally published as Top 10 at 11: Takeover talks and assay results dominate the morning’s news