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Top 10 at 11: Silver takes the lead, but a cancer-drug competitor is also running hard
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Good morning, and welcome to Stockhead’s Top 10 at somewhere near 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 200 has been on a tear early, rising sharply to its current 0.6% intraday gain, which comes after US stocks hit new highs.
US stocks rallied as the Fed’s 50 bp rate cut yesterday boosted hopes of the US avoiding a recession.
Overnight, the S&P 500 jumped 1.7% to 5,713 points, marking its 39th record this year and bringing its total rise to around 20%.
For more nuanced details, have a read Eddy’s Friday-morning Market Highlights.
Here’s what’s moving and shaking on the ASX at the time of writing…
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| MTH | Mithril Silver Gold | 0.305 | 49% | 8,122,767 | $21,130,626 |
| MEL | Metgasco Ltd | 0.004 | 33% | 250,491 | $4,342,760 |
| MCTDB | Metalicity Limited | 0.025 | 32% | 2,499,319 | $8,922,525 |
| ATX | Amplia Therapeutics | 0.13 | 31% | 554,094 | $27,205,033 |
| EEL | Enrg Elements Ltd | 0.0025 | 25% | 1,592,003 | $2,090,032 |
| AD1 | AD1 Holdings Limited | 0.006 | 20% | 250,000 | $5,486,742 |
| TMG | Trigg Minerals Ltd | 0.024 | 20% | 12,762,919 | $9,360,026 |
| SUH | Southern Hem Min | 0.019 | 19% | 445,318 | $11,779,841 |
| LSA | Lachlan Star Ltd | 0.14 | 17% | 130,000 | $24,908,783 |
| CDT | Castle Minerals | 0.0035 | 17% | 3,625,000 | $4,118,442 |
Mithril Silver and Gold (ASX:MTH) is up near 50% at the time of writing this morning. There’s a reason for that. The Mexico-focused junior explorer has announced some positive results it describes as “globally significant” stemming from drilling at its Copalquin District project.
Highlights: 144 g/t gold drilled and 1,162 g/t silver over 7 metres, returning the highest-grade intercept drilled at the property to date – 1,180 g/t x m AuEq. Further details below.
• 33m at 31.8 g/t gold, 274 g/t silver from surface, including…
• 7m at 144 g/t gold, 1,162 g/t silver from 18m including…
• 2m at 495 g/t gold, 3,765 g/t silver from 20m+ including…
• 1m at 26.9 g/t gold, 201 g/t silver from 28m.
Meanwhile, Aussie pharma junior Amplia Therapeutics (ASX:ATX) is surging on some FDA-related news. The US Food and Drug Administration has granted Fast Track Designation to Amplia’s lead drug narmafotinib in advanced
pancreatic cancer. This status is deemed super important because it facilitates the development of investigational drugs and allows for expedited review.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| OVT | Ovanti Limited | 0.003 | -25% | 6,427,422 | $6,225,393 |
|---|---|---|---|---|---|
| RBR | RBR Group Ltd | 0.0015 | -25% | 8,250,000 | $3,268,809 |
| SI6 | SI6 Metals Limited | 0.0015 | -25% | 328,987 | $4,737,719 |
| EXL | Elixinol Wellness | 0.004 | -20% | 500 | $6,605,912 |
| GTR | Gti Energy Ltd | 0.004 | -20% | 1,948,293 | $12,749,735 |
| KNB | Koonenberrygold | 0.008 | -20% | 958,340 | $2,877,875 |
| ODE | Odessa Minerals Ltd | 0.002 | -20% | 41,833 | $2,608,206 |
| RIL | Redivium Limited | 0.004 | -20% | 125,000 | $13,734,274 |
| SFG | Seafarms Group Ltd | 0.002 | -20% | 165,558 | $12,091,498 |
| BLG | Bluglass Limited | 0.024 | -17% | 2,017,278 | $53,262,660 |
| OVT | Ovanti Limited | 0.003 | -25% | 6,427,422 | $6,225,393 |
