Top 10 at 11: ASX bursts out of the gate on broad market strength

The ASX has sprinted out of the gates this morning, adding 0.48pc with 10 of 11 sectors in the green. Pic: Getty Images

Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.

With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest.

In brief, this is what the market has been up to this morning.

Powerful opening to trade

The ASX has had a great start to the trading day, powering up 0.48% in the first hour with 10 of 11 sectors climbing.

Info tech is leading the gains, adding 1.53%, while materials is the only sector in the red, down 0.55%.

The ASX 200 Banks index is also on the up, adding 0.60%.

With the market only 0.35% below its current all-time high, there’s a good chance we’ll see the ASX 200 reach a new record this week – if geopolitics allow.

There’s plenty of love to go around in the market today. Let’s check out which ASX small caps are living it up this morning.

WINNERS

Code	Name	Last	% Change	Volume	Market Cap
IBX	Imagion Biosys Ltd	0.018	29%	12463899	$2,818,780
CUL	Cullen Resources	0.005	25%	250000	$2,773,607
SNS	Sensen Networks Ltd	0.037	23%	20027	$23,791,124
AYT	Austin Metals Ltd	0.003	20%	83333	$3,960,478
BNL	Blue Star Helium Ltd	0.006	20%	129748	$13,474,426
BPP	Babylon Pump & Power	0.006	20%	6000083	$16,884,455
PRM	Prominence Energy	0.003	20%	39725	$1,216,176
AZL	Arizona Lithium Ltd	0.007	17%	708198	$31,621,887
C7A	Clara Resources	0.0035	17%	159599	$1,764,813
KGD	Kula Gold Limited	0.007	17%	73142	$5,527,522

In the news…

Imagion Biosystems (ASX:IBX) is fast-tracking manufacturing of its MagSense HER2 Imaging Agent for breast cancer detection ahead of a Phase 2 trial, after a productive meeting with the US FDA.

IBX is also preparing to submit its investigational new drug application for the imaging agent, tapping Dr William Dooley, a surgical oncologist at the University of Oklahoma Health Sciences College of Medicine, as principal investigator.

SenSen (ASX:SNS) raked in full year cash collections of $14.1m this year, a strong 13% increase over the previous reporting period.

The AI solutions provider marked its first ever year of positive operating cash flow as well, pulling in $1.9m compared to outflows of $1.3m in the previous financial year, a $3.2m improvement.

LAGGARDS

Code	Name	Last	% Change	Volume	Market Cap
AOA	Ausmon Resorces	0.001	-50%	308000	$2,622,427
ASR	Asra Minerals Ltd	0.001	-50%	532994	$8,000,396
SFG	Seafarms Group Ltd	0.001	-50%	6000	$9,673,198
GTR	Gti Energy Ltd	0.003	-25%	2598000	$14,835,762
RDS	Redstone Resources	0.003	-25%	219778	$4,137,069
MGU	Magnum Mining & Exp	0.007	-22%	500	$20,862,334
BCB	Bowen Coal Limited	0.08	-20%	1089095	$10,775,756
1CG	One Click Group Ltd	0.008	-20%	195915	$11,822,861
MEL	Metgasco Ltd	0.002	-20%	47619	$4,581,467
MRD	Mount Ridley Mines	0.002	-20%	3700	$1,946,223

In the news…

Magnum Mining & Exploration (ASX:MGU) has welcomed two new members to its board – Michael Davy as a non-executive director, and Mark Pryn as company secretary, effective today.

They’ll replace outgoing board members Luke Martino and John O’Gorman, formerly chair and company secretary respectively.

Bowen Coking Coal (ASX:BCB) is reassessing whether its efforts to continue commercial negotiations and recapitalisation are viable after BUMA Australia Pty Ltd hit the company with a letter of demand for more than $15 million.

BCB had been in commercial negotiations with BUMA and its senior secured lender Taurus on payment deferment or alternate consideration before the letter of demand was delivered.

At Stockhead, we tell it like it is. While Imagion Biosystems is a Stockhead advertisers, it did not sponsor this article

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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