Top 10 at 11: ASX slips on tech weakness, but Dreadnought hits bonanza gold
Gold prices are on the rise just when Dreadnought Resources is hitting pay dirt at the Star of Mangaroon prospect. 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 in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
Tech drags, market slides
The ASX 200 has started the day off on the back foot, falling 0.2% in the first half hour of trade.
Tech is dragging the market lower, alongside seven other sectors, with only three rising this morning.
The All Ords Gold index is also on the up, adding 3% after gold prices shot up 1.2% on Friday night. Gold futures are trading at US$3512.20 an ounce at present, just US$20 from all-time highs.
Oil went the other way, sliding 0.7% to US$68.12 a barrel of Brent on Friday and edging down further to US$67.43 a barrel by this morning.
SMALL CAP WINNERS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| AUK | Aumake Limited | 0.004 | 33% | 500246 | $9,070,076 |
| RNX | Renegade Exploration | 0.004 | 33% | 17853856 | $4,807,090 |
| DRE | Dreadnought Resources | 0.015 | 25% | 18037344 | $60,954,000 |
| RFT | Rectifier Technolog | 0.005 | 25% | 399999 | $5,527,936 |
| S2R | S2 Resources | 0.115 | 22% | 514971 | $47,138,090 |
| ATV | Activeportgroupltd | 0.028 | 22% | 27889991 | $21,546,100 |
| DTM | Dart Mining NL | 0.003 | 20% | 532241 | $3,436,315 |
| HIQ | Hitiq Limited | 0.021 | 17% | 95238 | $8,497,893 |
| ALY | Alchemy Resource Ltd | 0.007 | 17% | 285000 | $7,068,458 |
| BLU | Blue Energy Limited | 0.007 | 17% | 181237 | $11,105,842 |
In the news…
Dreadnought Resources (ASX:DRE) has hit bonanza gold up to 7m at 46.7 g/t gold at the Star of Mangaroon prospect, part of the Mangaroon gold project in WA.
The infill drilling targeted the northern and southern sections of the prospect, producing seven individual hits above 30 g/t gold and topping out at 1m at 162.8 g/t gold from 94m.
DRE plans to drill another 14 holes at the Star in September, before drumming up a resource estimate upgrade, mine plan and development studies for the project.
Activeport (ASX:ATV) has launched a network-to-network interconnect (NNI) service in Singapore, allowing telecoms to extend their reach across third-party networks into other countries.
The software allows customers to automate the creation of virtual circuits between carriers on a software licensing model, wherein ATV charges a Port fee based on data volume and a monthly rate for each virtual circuit provisioned on the NNI service.
SMALL CAP LAGGARDS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| IFG | Infocusgroup Hldltd | 0.025 | -32% | 3659580 | $10,801,750 |
| DEL | Delorean Corporation | 0.12 | -23% | 524225 | $34,143,114 |
| AOK | Australian Oil. | 0.002 | -20% | 12000 | $2,594,457 |
| PKD | Parkd Ltd | 0.029 | -15% | 405131 | $3,536,472 |
| ALM | Alma Metals Ltd | 0.006 | -14% | 249666 | $12,955,160 |
| C7A | Clara Resources | 0.003 | -14% | 75225 | $2,601,533 |
| ENV | Enova Mining Limited | 0.006 | -14% | 2277049 | $11,053,200 |
| PRM | Prominence Energy | 0.003 | -14% | 1299266 | $3,112,117 |
| ROG | Red Sky Energy. | 0.003 | -14% | 397521 | $18,977,795 |
| VHL | Vitasora Health Ltd | 0.025 | -14% | 550020 | $49,837,772 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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