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Top 10 at 10: Gold 50 soars after hitting high-grade gold and silver at Golconda 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.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| TNC | True North Copper | 0.21 | 296% | 1,332,954 | 13,771,597 |
| CLE | Cyclone Metals | 0.002 | 100% | 699,999 | 10,264,505 |
| AJQ | Armour Energy Ltd | 0.004 | 33% | 250,000 | 14,764,026 |
| G50 | Gold50 Limited | 0.185 | 32% | 53,292 | 7,972,020 |
| GRE | Greentech Metals | 0.56 | 26% | 3,120,507 | 18,649,766 |
| DTR | Dateline Resources | 0.039 | 22% | 13,552,570 | 25,441,991 |
| HVY | Heavy Minerals | 0.12 | 20% | 34,250 | 3,858,525 |
| DCX | Discovex Res Ltd | 0.003 | 20% | 798,997 | 8,256,420 |
| MRD | Mount Ridley Mines | 0.003 | 20% | 170,000 | 19,462,207 |
| RDN | Raiden Resources Ltd | 0.006 | 20% | 12,379,998 | 10,276,345 |
Up 290-odd per cent is True North Copper (ASX:TNC), an unfamiliar ticker listed through the shell of Duke Exploration (ASX:DEX).
That gain isn’t quite what it seems. The ‘merger’ comes after a $37.3 million raising at 25c that will see the revival of the Great Australia Complex — mined by Perilya from the mid-80s — in the second half of 2023.
On the winners list today is Gold 50 (ASX:G50) which has reported wide-spaced drilling at the Golconda Project in Arizona. It has intersected high-grade gold-silver mineralisation within several broad mineralised zones including:
- 35m at 5.2g/t gold and 5.9g/t silver from 176.8m including 9m at 19.5g/t gold and 17.8 g/t silver in GRC06
- 11m at 1.2g/t gold, 399g/t silver, 0.31% copper and 0.55% zinc from 61.0m and immediately below historic underground workings in GRC03
- 3m at 2.3g/t gold and 10g/t silver from 24m in GRC 09
- 2m at 0.6g/t gold and 165g/t silver, 0.44% copper and 0.43% zinc in GRC 10
Gold 50’s managing director Mark Wallace said the results confirm and justify the systematic approach the company has implemented to define drill targets at its flagship Golconda Project.
“The initial drilling program intercepted significant gold and silver mineralisation in several locations and importantly, verified and improved our understanding of the controls to mineralisation, something we believe is key to unlocking the potential of the district,” he said.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| AVW | Avira Resources Ltd | 0.002 | -33% | 33,650,385 | $6,401,370 |
| MTH | Mithril Resources | 0.001 | -33% | 2,843 | $5,053,207 |
| OPN | Oppen Negotiation | 0.022 | -27% | 186,666 | $7,275,899 |
| VAL | Valor Resources Ltd | 0.003 | -25% | 400,416 | $15,212,139 |
| FGL | Frugl Group Limited | 0.008 | -20% | 115,000 | $9,560,620 |
| BRX | Belararox Limited | 0.32 | -19% | 56,625 | $16,167,358 |
| FLX | Felix Group | 0.115 | -18% | 8,000 | $21,940,760 |
| MXC | MGC Pharmaceuticals | 0.005 | -17% | 280,000 | $20,098,158 |
| LKE | Lake Resources | 0.3975 | -16% | 12,941,793 | $675,661,236 |
| LPD | Lepidico Ltd | 0.011 | -15% | 814,937 | $99,297,989 |
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