In Case You Missed It: Germanium and gallium lead the pack followed by new drug data and lithium

Stockhead’s In-Case-You-Missed-It highlights some strongest performing ASX stocks that might have slipped your notice today. 

It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.

ICYMI Leader Board

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

Top of the charts today is Golden Deeps (ASX:GED) which uncovered germanium and gallium at the Nosib vanadium-copper-lead-silver discovery in Namibia, days after major producer China imposed export restrictions on the critical metals used in computer chips and semi-conductors.

The market price of germanium is currently ~US$2,450/kg and gallium is ~US$230/kg, compared to vanadium (V2O5) at US$16.60/kg, copper at US$8.25/kg and zinc at US$2.41/kg, GED says.

“Demand and pricing for germanium and gallium are likely to be enhanced following China’s decision to restrict exports.”

GED says examination of one drillhole has returned hits like 8.70m @ 128g/t Ga, 11.3g/t Ge (1.84% Cu, 1.88% V2O5, 10.2% Pb, 3.6g/t Ag) from surface.

Metallurgical concentrate testwork is close to completion, which will allow the company to finalise a maiden resource for Nosib.

Clinical stage drug maker AdAlta Limited (ASX:1AD) says new data supports the potential efficacy of its AD-214 treatment in humans with Idiopathic Pulmonary Fibrosis (IPF) and other fibrotic diseases.

The new data links CXCR4 receptor occupancy with CXCR4 inhibition to provide direct evidence – suggesting that administration of AD-214 every two weeks could be clinically feasible.

CEO and MD Dr Tim Oldham says the new findings de-risk and improve confidence in Phase II clinical study dosing regimens.

Greentech Metals (ASX:GRE) has reported more high-grade lithium in rock chips – peak grade 1.8% LI2O – at Ruth Well, extending the mineralised zone at the Kobe prospect to 7.5km.

Test work carried out by Curtin University by way of XRF analysis on a sample from the first sampling program also confirmed that the lithium bearing mineral is spodumene. Good news.

Plans for drilling are well advanced, it says.

And Renascor Resources (ASX:RNU) latest drilling at the Siviour graphite project in South Australia has confirmed widespread, high-grade graphite mineralisation over an area extending over 3 km immediately north of the resource.

The company believes the new drilling offers potential for a significant increase to the resource and to support extensions to the current pit design for future expansions beyond the capacity being currently being considered under the updated, optimised Battery Anode Material Study (BAM Study) – which is flagged for completion later this month.

At Stockhead we tell it like it is. While Renascor Resources is a Stockhead advertiser, it did not sponsor this article.