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Top 10 at 10: Gold, nickel finds and Orphan Drug Designation for a pharmaceutical player
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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 commenced trading.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| PNX | PNX Metals Limited | 0.003 | 50% | 200,000 | $10,761,249 |
| SIH | Sihayo Gold Limited | 0.002 | 33% | 2,495,300 | $9,153,192 |
| PTX | Prescient Ltd | 0.125 | 29% | 1,501,077 | $70,399,948 |
| CLZ | Classic Min Ltd | 0.0025 | 25% | 2,052,862 | $2,532,188 |
| TTA | TTA Holdings Ltd | 0.023 | 21% | 29,891 | $2,611,045 |
| EDE | Eden Inv Ltd | 0.006 | 20% | 875,000 | $14,657,222 |
| SLS | Solsticeminerals | 0.185 | 19% | 90,000 | $15,544,455 |
| ADR | Adherium Ltd | 0.0035 | 17% | 50,281 | $14,989,315 |
| WLD | Wellard Limited | 0.062 | 15% | 24,000 | $28,687,517 |
| MYR | Myer Holdings Ltd | 1.095 | 15% | 3,459,860 | $784,321,268 |
Sihayo Gold (ASX:SIH) has found some solid results in follow-up drilling at its Sihayo Starter Project in North Sumatra, Republic of Indonesia, including 5.0m at 5.50 g/t gold from 257m.
Results from the program will inform an updated Mineral Resource estimate for the deeper higher-grade gold mineralisation, expected to be completed in Q2 CY2023.
The company will also further assess the potential for underground mining opportunities to augment planned open pit mill feed.
Prescient Therapeutics (ASX:PTX) has been granted Orphan Drug Designation (ODD) from the US Food and Drug Administration for its PTX-100 drug for the treatment of T cell lymphomas.
ODD is for drugs for the safe and effective treatment, diagnosis or prevention of rare diseases that affect fewer than 200,000 people in the US and is designed to provide benefits to incentivize drug development in less common diseases.
The benefits include guaranteed market exclusivity of seven years from granting of regulatory approval; and a waiver of Prescription Drug User Fee Act (PDUFA) fees for orphan drugs, which has a value of over US$3.1 million in 2022.
Solstice Minerals (ASX:SLS) has hit an intercept of 1.81m at 23.1% nickel during diamond drilling at the GSP Prospect (GSP) within its Ringlock Dam nickel project in WA.
CEO and MD Nick Castleden says the results validate the prospect as a “live high-tenor nickel sulphide system.”
“The exploration prize is an intact high-grade footwall massive sulphide body somewhere nearby,” he said.
“We know this ultramafic package can deliver, as evidenced by the historic high-grade Silver Swan deposit located some 30km to the southeast.”
LOSERS
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MCT | Metalicity Limited | 0.002 | -33% | 5,000 | $10,513,618 |
| ARE | Argonaut Resources | 0.0015 | -25% | 729,975 | $12,723,743 |
| GTG | Genetic Technologies | 0.003 | -25% | 1,250,000 | $46,166,633 |
| OAU | Ora Gold Limited | 0.003 | -25% | 2,550,000 | $3,936,925 |
| AMD | Arrow Minerals | 0.005 | -17% | 142,857 | $17,449,863 |
| XTC | Xantippe Res Ltd | 0.005 | -17% | 3,110,937 | $63,480,598 |
| YPB | YPB Group Ltd | 0.005 | -17% | 437,366 | $2,439,277 |
| BEX | Bikeexchange Ltd | 0.012 | -14% | 8,000 | $13,045,804 |
| CMG | Criticalmineralgrp | 0.16 | -14% | 8,547 | $5,649,081 |
| NUH | Nuheara Limited | 0.18 | -12% | 322,526 | $31,570,637 |
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