Top 10 at 11: It’s all ‘mine, mine, mine’ in the headlines this morning

Good morning, and welcome to 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, highlighting the best (and sometimes worst) performing ASX stocks in morning trade using live data.

We 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.

Pre-market, the ASX was expected to open higher on Wednesday morning, after Wall Street recorded modest gains overnight across the major indices.

The headline news involves a lawsuit from ASIC, which is taking QBE Insurance (ASX:QBE) to task for being inconsistent with its discounting to customers, but this has been rattling around for a couple of years now and there’s not much in the way of new info.

On a macro-economic scale, China is being unusually quiet about when it’s going to hold its week-long People’s Congress, where it’s expected the details of a major economic support package will be announced.

Normally, we get a week’s notice before the big event, and the current best-guess is that it won’t be happening until November, possibly as China – along with the rest of the world – waits to see if the US is going to dodge a bullet, or vote its way into four more years of insanity on November 5.

When the market  opened, it jumped immediately to a 0.15 per cent gain for the ASX 200, with Real Estate the first bull out of the gate on +0.6 per cent early doors.

WINNERS

Code	Company	Price	%	Volume	Market Cap
EMS	Eastern Metals	0.036	71.4	5,313,681	$2,387,201
ERA	Energy Resources	0.004	33.3	15,963,023	$66,444,898
ICU	Investor Centre	0.004	33.3	127,454	$913,534
FME	Future Metals	0.025	25.0	684,307	$11,500,810
88E	88 Energy	0.0025	25.0	41,800,000	$57,867,624
AMD	Arrow Minerals	0.0025	25.0	25,914,505	$26,047,256
ARD	Argent Minerals	0.032	18.5	10,245,773	$38,985,993
VMC	Venus Metals Corp	0.06	20.0	18,500	$9,806,434
ODE	Odessa Minerals	0.006	20.0	1,000,000	$6,341,413
TMK	TMK Energy	0.003	20.0	646,512	$18,979,030

Eastern Metals (ASX:EMS) was up early on news that reconnaissance drilling completed at two new targets, Kelpie Hill and Windmill Dam, and at the advanced Evergreen prospect within the 100 per cent-owned Cobar Project in NSW. Initial assays have come back with results such as 7m @ 4.3g/t Au, 2.7g/t Ag, 0.3 per cent Pb from 50m and 1m @ 4.17g/t Au, 2.7g/t Ag from 82m, with the second and third holes returning 3.05m @ 3.9 per cent Zn, 2% Pb, 29.5g/t Ag from 298.5 and 0.5m @ 7.2 per cent Zn, 2.4 per cent Pb from 299m.

Energy Resources of Australia (ASX:ERA) was up on Wednesday morning after letters went out to shareholders about the previously announced, Rio-backed pro-rata renounceable entitlement offer of new ERA ordinary shares to raise up to approximately $880 million.

Arrow Minerals (ASX:AMD) lifted on news that the company had inked an MoU with Baosteel for potential mine gate sales of its iron ore, enabling access to the Simandou port and rail, the world’s largest and newest bulk infrastructure development. Arrow has also begun the next phase metallurgical testwork on the Simandou Formation Oxide BIF identified at its Simandou North Iron Project.

Venus Metals (ASX:VMC) was up, but its announcement this morning was just about an AGM, which isn’t terribly exciting.

LAGGARDS

Code	Company	Price	%	Volume	Market Cap
ADA	Adacel Technologies	0.31	-34.0	185,746	$35,872,745
MTB	Mount Burgess Mining	0.001	-33.3	498	$1,947,220
TIG	Tigers Realm Coal	0.002	-33.3	26,666	$39,200,107
WML	Woomera Mining	0.002	-33.3	4	$6,165,223
PLY	Playside Studios	0.485	-32.2	2,213,988	$292,593,827
BRU	Buru Energy	0.045	-26.2	3,026,918	$47,234,067
LM1	Leeuwin Metals	0.067	-22.1	22,125	$4,029,244
LPD	Lepidico	0.002	-20.0	100,499	$21,472,812
KKO	Kinetiko Energy	0.079	-19.4	448,147	$140,388,440
DGR	DGR Global	0.009	-18.2	2,382,508	$11,480,628

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.