Top 10 at 11: A sea of green as ASX rallies on US election day

Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, which is meant to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms that have made announcements.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading. Here’s what’s happened so far.

Australian equities have climbed higher at the open, tracking a strong rally on Wall Street overnight as first results of the US presidential election start to flow through.

At 10.50am (AEDT) the S&P/ASX 200 was up 0.73% to 8,190.90 points.

All 11 sectors are in the green today with Materials leading the gainers.

WINNERS

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

Code	Company	Price	%	Volume	Market Cap
OAR	OAR Resources Ltd	0.002	100%	1,000,000	$3,300,835
TMK	TMK Energy Limited	0.003	50%	1,056,666	$16,784,811
AKN	Auking Mining Ltd	0.004	33%	4,018,586	$1,174,051
RML	Resolution Minerals	0.002	33%	50,000	$2,415,033
RMX	Red Mount Mining	0.013	30%	3,200,379	$3,873,578
VML	Vital Metals Limited	0.0025	25%	3,382,293	$11,790,134
EVG	Evion Group NL	0.035	21%	403,705	$10,061,932
AUK	Aumake Limited	0.007	17%	800,000	$16,279,446
PUA	Peak Minerals Ltd	0.007	17%	2,225,006	$14,982,662
RGL	Rivers Gold	0.0035	17%	500,533	$4,882,388

Auking Mining (ASX:AKN) was up 33% in morning trade after announcing together with local Saudi Arabian partner Barg Alsaman Mining Company that it had been successful in securing the Shaib Marqan exploration licence as part of the Saudi Ministry of Industry and Mineral Resources’ sixth licensing round bid process.

Red Mountain Mining (ASX:RMX) rose 30% after releasing results from 91 rock chip samples collected from Flicka Lake, which included Bonanza grade values confirmed for the Flicka Zone. Flicka Vein #2 returned values of 24.2ppm (24.2 g/t Au) and 19.4ppm (19.4 g/t Au) with Flicka Vein #3 returning a peak value of 9.35ppm (9.35 g/t Au), supporting a historical desktop study announced last week.

RMX said results returned 0.514ppm (0.514 g/t Au) for a pyritic vein sample 800m WSW of Flicka Zone, along the strike of the main shear, highlighting the potential for strike extension of high-grade mineralisation.

Evion Group (ASX:EVG) was up 21% after announcing production testing and sample approvals have been completed, paving the way for full production to commence at its expandable graphite JV (50/50) operations near Pune in India. The JV expects to receive more than $2m from the sales of an initial 386 tonne of production with all sales prices more than US$3,000/mt FOB achieved.

LAGGARDS

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

Code	Company	Price	%	Volume	Market Cap
AMD	Arrow Minerals	0.0015	-25%	1,100,000	$26,447,256
GMN	Gold Mountain Ltd	0.0015	-25%	82,777	$7,814,946
ILT	Iltani Resources	0.18	-20%	299,218	$9,902,364
MRQ	Mrg Metals Limited	0.004	-20%	780,000	$13,632,593
RIL	Redivium Limited	0.004	-20%	334,772	$13,734,274
PPY	Papyrus Australia	0.013	-19%	159,448	$7,883,081
CUL	Cullen Resources	0.005	-17%	152,977	$4,160,411
GES	Genesis Resources	0.005	-17%	50,000	$4,697,048
LML	Lincoln Minerals	0.006	-14%	50,000	$14,393,817
AAU	Antilles Gold Ltd	0.0035	-13%	302,333	$7,422,971

Despite intersecting high-grade antimony, shares in Iltani Resources (ASX:ILT) tumbled 20% early this morning after the company said the geology was more complex than expected with a structural control that needs to be interpreted prior to the next phase of drilling.