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Top 10 at 10: ASX opens lower, Redstone rises on highest Cu grade ever at Tollu Copper Project
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Stockhead’s Top 10 at 10, published at ~10.30am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.
It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.
The ASX has open lower on Monday ahead of a shortened week. At the time of publishing, the S&P ASX 200 was down 0.17%.
On Friday, all major US stock indexes closed rather flat, up by just around 0.1%.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CCE | Carnegie Cln Energy | 0.0015 | 50% | 10,099,250 | $15,642,574 |
| OAU | Ora Gold Limited | 0.003 | 50% | 200,373 | $7,873,850 |
| M24 | Mamba Exploration | 0.21 | 40% | 800,170 | $9,147,501 |
| CLE | Cyclone Metals | 0.002 | 33% | 1,495,000 | $13,623,972 |
| ARE | Argonaut Resources | 0.0025 | 25% | 13,200 | $12,723,743 |
| CHK | Cohiba Minerals Ltd | 0.005 | 25% | 102,963 | $7,092,977 |
| MTH | Mithril Resources | 0.0025 | 25% | 951,820 | $6,526,180 |
| FFF | Forbidden Foods | 0.017 | 21% | 40,240 | $1,861,728 |
| EDE | Eden Inv Ltd | 0.006 | 20% | 2,000,027 | $14,984,722 |
| RDS | Redstone Resources | 0.012 | 20% | 5,237,223 | $7,368,324 |
Redstone Resources (ASX:RDS) has scraped into the Top 10 at 10 winners lister after announcing high grade intersections at Forio, including the highest Cu grade ever intersected at the Tollu Copper Project with 1m at 18.5% Cu from 18m downhole (DH) in RC drill hole TLC203.
RDS said the high grade Cu intersections received so far from the most recent RC campaign include:
- 8m at 4.1% Cu from 13m downhole depth in drill hole TLC203, including o 1m at 18.5% Cu from 18m downhole.
- 4m at 1.2% Cu from 45m downhole in drill hole TLC203.
- 6m at 1.47% Cu from 80m downhole in drill hole TLC201.
RDS said the high grade Cu intersections in drill holes TLC201 and TLC203 extend Forio’s high grade Cu mineralisation zone to a 60m strike length (north and south) of continuous high grade copper.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| GGX | Gas2Grid Limited | 0.001 | -33% | 241,886 | $6,115,653.12 |
| PRM | Prominence Energy | 0.001 | -33% | 500,000 | $3,636,913.23 |
| NTM | Nt Minerals Limited | 0.007 | -30% | 1,058,303 | $8,006,989.15 |
| EMU | EMU NL | 0.002 | -20% | 20,000 | $3,625,053.20 |
| M4M | Macro Metals Limited | 0.004 | -20% | 189,973 | $9,785,388.78 |
| NOX | Noxopharm Limited | 0.059 | -14% | 922,391 | $20,164,418.55 |
| HLX | Helix Resources | 0.006 | -14% | 35,000 | $16,262,020.90 |
| LNU | Linius Tech Limited | 0.003 | -14% | 180,000 | $11,304,111.82 |
| ICN | Icon Energy Limited | 0.007 | -13% | 150,000 | $6,144,109.34 |
| MRD | Mount Ridley Mines | 0.0035 | -13% | 1,482,886 | $31,139,531.47 |
Investors have reacted to March quarter results from clinical stage drug development company Noxopharm (ASX:NOX) today. In its ASX announcement NOX mentioned the board had made a strategic decision to focus on its tech platforms Sofra and Chroma technology platform and discontinue two clinical trials.
NOX said, given the promising nature of Chroma and Sofra research and to mitigate risk and prudently use the company’s limited resources, the board determined to prioritise the development of these two preclinical programs and limit further investment into Veyonda clinical trials by discontinuing DARRT2 and CEP-2.
“We are naturally disappointed to have discontinued the DARRT-2 and CEP-2 trials, but slow patient recruitment due to the ongoing COVID impact on the US healthcare system, as well as challenges with patients accepting the drug’s suppository delivery method, led to a projected unsustainable rise in costs and trial delays,” CEO and MD Dr Gisela Mautner said.
The company has a cash position of $6.4 million to support development programs.
