In Case You Missed It: Medicare delays and lithium giant invests in WA player

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).

Cancer diagnostics company Pacific Edge (NZX, ASX:PEB) today welcomed the delay of a decision to stop Medicare coverage of Cxbladder in the US on 17 July 2023.

Cxbladder is a urine-based genomic biomarker test for the detection and surveillance of bladder cancer.

Chief executive Dr Meintjes said the company is “confirmed in our position that a more robust procedure that includes open meeting and public comment was needed and thank Novitas for the opportunity to discuss the substance of their evidentiary review of Cxbladder products with them.”

“We support efforts to ensure the Medicare program only pays for genetic testing services that are analytically valid, clinically valid, and clinically useful,” he said. 

“We will update investors as we gain further information on Cxbladder’s Medicare coverage status.” 

Global lithium producer SQM (NYSE:SQM) will spend up to $3m on exploration to earn up to 70% of Tambourah Metals’ (ASX:TMB) early stage Julimar North projects in WA.

This strategic investment by SQM is a strong endorsement of Julimar Nth and its lithium potential, the company says.

“The new relationship will allow TMB to draw upon SQM’s technical expertise in pegmatite hosted lithium exploration while allowing Tambourah to work in parallel on its other Lithium and Critical Mineral projects,” TMB CEO Ralf Kriege said.

Alma Metals’ (ASX:ALM) Briggs porphyry project in QLD is now in the Top 10 largest undeveloped copper projects in Australia with a new resource estimate of 415Mt @ 0.25% Cu + 31ppm Mo (0.2% cutoff).

That’s ~1 million tonnes of contained copper and +28.6Mlbs of molydenum, the company says.

There’s potential to grow this further, with both the Northern Porphyry and Briggs central deposits remaining open, and the Southern Porphyry Target not included in this resource at all.

Drilling will resume in early Q3 2023.

And Titan Minerals (ASX:TTM) has unveiled a monster 3.1Moz gold, 22Moz silver maiden resource at the Dynasty project in Ecuador.

That includes a significant high-grade component — 17.3Mt @ 3.77g/t gold, 24.0g/t silver for a contained 2.09Moz gold and 13.33Moz silver.

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