Top 10 at 11: Investor action, board room change and solid quarterly growth are today's news

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.

Pre-market, the ASX was expected to open a little higher this morning, with the ASX Futures pointing to a 0.7% rise after the Dow hit fresh record highs in the US overnight.

Oil prices rose slightly, gold was up 0.5%, iron ore prices eased slightly, some Westpac customers are still locked out of their accounts this morning and One Direction singer Liam Payne has died in Argentina after falling from a hotel balcony. It’s all happening.

30 minutes into the session, and the benchmark was up 0.9%, with everything other than InfoTech rising sharply as the session got underway.

WINNERS

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

Code	Company	Price	%	Volume	Market Cap
CDE	Codeifai	0.002	100.0	2,000,000	$2,641,295
CY5	Cygnus Metals	0.135	68.8	4,142,060	$30,382,791
OVT	Ovanti	0.0065	62.5	35,714,825	$6,225,393
TMK	TMK Energy	0.003	50.0	212,226	$15,183,224
SFG	Seafarms Group	0.004	33.3	1,000,000	$14,509,798
BXN	Bioxyne	0.013	30.0	2,610,770	$20,466,454
AIV	Activex	0.009	28.6	353,613	$1,508,518
GTI	Gratifii	0.005	25.0	20,828	$8,596,785
RC1	Redcastle Resources	0.01	25.0	1,151,919	$3,282,607
POS	Poseidon Nickel	0.006	20.0	7,014,218	$21,019,377

Cygnus Metals (ASX:CY5) was out in front early in the session this morning, on news that the company has received firm commitments for A$11 million via a share placement to institutional and sophisticated investors amid “overwhelming demand” ahead of Cygnus’ planned merger with TSXV-listed Dore Copper Mining Corp. The placement was priced at A$0.072 per share, being a 10% discount to the last sale price of A$0.08.

Ovanti (ASX:OVT) was up after revealing that, following a lengthy search, the company has appointed former US CFO of Zip Co Simon Keast as Chief Executive Officer, which will take effect from 1 November 2024.

Bioxyne (ASX:BXN) was rising after delivering a quarterly this morning that showed quarterly revenue of $4.6 million, up 48% on Q4 FY2024 and an 119% increase on Q1 FY2024, and quarterly cash receipts of $5.8 million, generating positive operating cash flow for the quarter of $1.2 million.

Redcastle Resources (ASX:RC1) was up on news that the company is set to increase its tenement footprint in the highly prospective Redcastle–Queen Alexandra gold corridor following the acquisition of a strategic tenement, allowing it P access to new multiple exploration targets along a trend of historical workings at the site.

LAGGARDS

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

Code	Company	Price	%	Volume	Market Cap
LNU	Linius Tech	0.001	-50.0	55,000	$11,730,481
OFX	OFX Group	1.52	-33.3	2,601,438	$547,138,919
AGC	AGC	0.175	-25.5	1,291,399	$60,300,347
ALR	Altair Minerals	0.003	-25.0	2,416,700	$17,186,310
88E	88 Energy	0.002	-20.0	723,750	$72,334,530
GCR	Golden Cross	0.002	-20.0	399	$2,743,140
IVX	Invion Ltd	0.002	-20.0	1,171,701	$16,916,479
PUA	Peak Minerals	0.002	-20.0	20,068	$6,242,776
PVW	PVW Resources	0.019	-17.4	133,344	$4,574,810
CMD	Cassius Mining	0.005	-16.7	279,500	$3,252,027