Top 10 at 11: ASX dips at open, but soft US jobs data lifts goldies
Gold stocks are once again leading the ASX. Picture via 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 in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
The ASX stumbled out of bed Monday, down 0.25%, after Wall Street tripped over a dud jobs report on Friday.
The US reported its worst hiring pace since 2010. No shock then that the S&P sank 1.6%, Nasdaq by 2.2%, and the Dow dropped 500-plus points.
Back home, gold stocks jumped out of the gates this morning after bullion surged over 2% on Friday, thanks to the soft jobs report.
Staple stocks also edged higher, as investors took shelter in defensives amid fresh concerns about global growth and rising trade tensions.
WINNERS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| TMB | Tambourah Metals | 0.038 | 46% | 30,826,123 | $4,302,377 |
| LM1 | Leeuwin Metals Ltd | 0.135 | 36% | 1,550,938 | $9,979,832 |
| SFG | Seafarms Group Ltd | 0.002 | 33% | 650,452 | $7,254,899 |
| SMM | Somerset Minerals | 0.018 | 29% | 9,406,689 | $9,031,127 |
| CYQ | Cycliq Group Ltd | 0.005 | 25% | 1,622,320 | $1,842,067 |
| TMX | Terrain Minerals | 0.003 | 25% | 5,177,749 | $5,063,629 |
| NAG | Nagambie Resources | 0.016 | 23% | 1,219,574 | $10,442,930 |
| AMS | Atomos | 0.006 | 20% | 290,000 | $6,075,092 |
| AS2 | Askari Metals | 0.012 | 20% | 15,147 | $4,041,707 |
| BUY | Bounty Oil & Gas NL | 0.003 | 20% | 800,000 | $3,903,680 |
In the news…
Tambourah Metals (ASX:TMB) has struck shallow, high-grade gold at its Beatty Park South project, with standout hits including 6m at 25.8g/t from 30m, and a 1m interval grading 126g/t.
The aircore campaign tested a historic gold-in-soil anomaly north of Meekatharra, confirming strong mineralisation over a 120m strike and ending in mineralised ultramafic rock.
Somerset Minerals (ASX:SMM) has nailed thick, high-grade copper hits near surface at its Coppermine Project in Canada, with assays confirming 42.7m at 2.69% Cu at Jura, including a juicy 6.1m at 5.51% from just 15m down.
Over at Laphroaig, the drill pulled 29m at 0.67% Cu, including 12.2m at 1.23%, pointing to a shallow chalcocite system dipping under cover.
Terrain Minerals (ASX:TMX) is in the middle of a roadshow, pitching its growing pipeline of Aussie exploration projects across WA and QLD. It just raised $1.58 million and is chasing gold, copper, lithium, REEs and gallium.
At Smokebush in WA, it’s unlocking multiple gold targets at Lightning, Monza and Wildflower, with fresh drill results due in September.
And in QLD, its Biloela project is now fully granted after a two-year wait, with copper-gold targets lined up across a 2,462km² landholding.
LAGGARDS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| EEL | Enrg Elements Ltd | 0.001 | -33% | 1 | $4,880,668 |
| HLX | Helix Resources | 0.002 | -25% | 5,300,000 | $6,728,387 |
| DMG | Dragon Mountain Gold | 0.010 | -23% | 29,400 | $5,130,732 |
| ATV | Activeportgroupltd | 0.011 | -21% | 6,254,886 | $9,617,679 |
| BIT | Biotron Limited | 0.002 | -20% | 35,570 | $3,318,115 |
| PKO | Peako Limited | 0.002 | -20% | 1,166,667 | $3,719,355 |
| VRC | Volt Resources Ltd | 0.004 | -20% | 443,698 | $23,424,247 |
| 1AI | Algorae Pharma | 0.005 | -17% | 95,494 | $10,124,368 |
| ALY | Alchemy Resource Ltd | 0.005 | -17% | 145,660 | $7,068,458 |
| ECT | Env Clean Tech Ltd. | 0.003 | -17% | 6,632,713 | $12,046,306 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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