Top 10 at 11: Gold is shining bright as the ASX sinks again on Monday morning

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.

Briefly, here’s what’s been happening already this morning: The ASX is sinking again, down hard from the opening bell after the US jobs data that landed on Friday pointed a bony, crooked finger at the word “Recession” and everyone lost their minds.

Strap in – it’s going to be a messy one.

WINNERS

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

Security	Description	Last	%	Volume	MktCap
SMM	Somerset Minerals	0.003	50.0	200,000	$2,061,997
ADG	Adelong Gold Limited	0.004	33.3	17,817	$3,353,967
RMX	Red Mount Min Ltd	0.002	33.3	532,683	$5,135,366
CAV	Carnavale Resources	0.005	25.0	12,000	$13,694,207
ABE	Ausbondexchange	0.031	24.0	24,000	$2,816,703
KLI	Killi Resources	0.115	23.7	482,850	$11,180,808
SPX	Spenda Limited	0.011	22.2	1,182,486	$38,920,120
TEM	Tempest Minerals	0.011	22.2	1,791,500	$4,890,387
BNL	Blue Star Helium Ltd	0.006	20.0	250,000	$9,724,426
ST1	Spirit Technology	0.061	17.3	676,871	$71,064,198

Red Mountain Mining (ASX:RMX) was up on Monday morning on news that the company has acquired four exploration licences that are prospective for gold in the Yilgarn‘s Murchison Domain southeast of Mount Magnet. The Project covers 111km2 of the Kiabye Greenstone Belt, an underexplored gold belt adjacent to the Narndee Igneous Complex, where shallow historical exploration has found evidence of gold mineralisation before.

Carnavale Resources (ASX:CAV) was up on news that its ongoing metallurgical testwork for its headline Swiftsure Deposit within the Kookynie gold project in Western Australia has produced some great results, with high overall gold recovery rates ranging from 98.9% to 99.5%, with recovery of gravity gold averaging 87.1% and ecovery from carbon in Leach (CIL) test 99.7%.

Killi Resources (ASX:KLI) says that its hunt for gold at its 100% owned Mt Rawdon West project in Queensland, where pole-dipole Induced Polarisation (IP) geophysical survey showed a strong spatial association with gold-copper mineralisation that have helped the company identify new, discrete chargeable targets in line with earlier surface sampling that showed copper-gold mineralisation of 238g/t Au and 5.4% Cu.

Spirit Telecom (ASX:ST1) was one of a handful of tech companies doing well on Monday morning, after announcing that it is expecting to do better than expected for FY25, saying that the company is confident that its strategy of selling combined Cyber Security, Managed Services and Collaboration platforms will improve its profitability and deliver uEBITDA of between $9.5 million and $10.5 million and revenue of between $150 million and $160 million in FY25.

LAGGARDS

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

Code	Company	Price	%	Volume	Market Cap
CNJ	Conico Ltd	0.001	-50.0	1,004,985	$4,403,055
NRZ	Neurizer Ltd	0.003	-40.0	35,500,000	$9,512,153
1TT	Thrive Tribe Tech	0.002	-33.3	1,848,963	$1,411,865
HCD	Hydrocarbon Dynamic	0.002	-33.3	250	$2,425,747
MTL	Mantle Minerals Ltd	0.001	-33.3	73	$9,296,169
AAU	Antilles Gold Ltd	0.003	-25.0	1	$5,845,711
JAV	Javelin Minerals Ltd	0.0015	-25.0	20,000,000	$8,553,692
1CG	One Click Group Ltd	0.008	-20.0	3,101,754	$7,031,788
AJL	AJ Lucas Group	0.008	-20.0	500	$13,757,296
PNX	PNX Metals Limited	0.004	-20.0	1,300,000	$29,851,074