Top 10 at 11: Excellent MREC and a $115m EU grant are today’s news

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

Pic: 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. Here’s what’s happened so far.

When the market opened, InfoTech went flying while the rest of the market was very quiet in the early minutes of the session – broadly tracking the mixed result coming out of Wall Street overnight.

WINNERS

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

Code	Company	Price	%	Volume	Market Cap
ADD	Adavale Resource	0.003	50.0	1,000,000	$2,447,531
ERA	Energy Resources	0.003	50.0	14,503,802	$44,296,598
TMX	Terrain Minerals	0.004	33.3	125,000	$5,400,086
VPR	Volt Group	0.002	33.3	407,822	$16,074,312
EWC	Energy World Corp	0.019	26.7	214,785	$46,183,819
ECT	Env Clean Tech	0.0025	25.0	107,806	$6,343,621
RC1	Redcastle Resources	0.012	20.0	19,067,355	$4,915,480
GRL	Godolphin Resources	0.02	17.6	1,422,077	$5,375,591
FME	Future Metals	0.028	16.7	978,297	$13,800,972
TLG	Talga Group	0.425	16.4	689,377	$156,505,905

Godolphin Resources (ASX:GRL) was up this morning on news that the company has reached a major milestone, after process development testing produced the first Mixed Rare Earth Carbonate (MREC) from its Narraburra REE project. Godolphon reports that the quality of the MREC – an intermediate product from rare earth mining and processing which can be sold to specialist refining companies for processing into rare earth metals and oxides – is “excellent”, and indicates a high value product with significant concentrations of Tb and Dy with low impurities.

Battery materials and technology company Talga Group (ASX:TLG) was also up early, on news that it has been selected for an EU Innovation Fund grant for its commercial scale Luleå Anode Refinery, part of its integrated Vittangi Anode Project, awarded by the European Commission. Talga successfully applied for a $115 million grant under the IF23 call, and is one of 85 entities out of 337 applicants to share in a total of $7.8 billion in grants under the EU Innovation Fund.

On the wrong side of the ledger this morning, Connected Minerals (ASX:CML)(formerly known as Connected IO (ASX:CIO) ) has re-listed, returning to the ASX this morning after raising $5.1 million to fund the transformation of the company into a “junior explorer”, with a focus on finding uranium in Namibia. It’s had a bumpy re-entry to the bourse, however, falling sharply from its recent placement price of $0.20 per share on debut.

LAGGARDS

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

Code	Company	Price	%	Volume	Market Cap
CML	Connected Minerals	0.21	-41.7	68,108	$14,888,956
EEL	Enrg Elements	0.002	-33.3	20,915,144	$3,135,048
HCD	Hydrocarbon Dynamic	0.002	-33.3	250,000	$2,425,747
GGE	Grand Gulf Energy	0.004	-20.0	1,124,270	$12,251,936
IVX	Invion	0.002	-20.0	30,000	$17,041,479
LPD	Lepidico	0.002	-20.0	586	$21,472,812
FBM	Future Battery	0.018	-14.3	305,037	$13,972,474
AOK	Australian Oil	0.003	-14.3	299,320	$3,506,240
IPB	IPB Petroleum	0.006	-14.3	3,477,566	$4,944,821
SUV	Suvo Strategic	0.046	-13.2	2,164,357	$51,295,983

At Stockhead we tell it like it is. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Top 10 at 11: Excellent MREC and a $115m EU grant are today’s news