Top 10 at 11: Titanium sands, defence training and project progress is the news today

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 hasn’t had much of a lead-in from overseas markets last night, with fears over a US slowdown putting pressure on banking and energy stocks in New York and Europe – so we can probably expect something similar here today.

Local markets have opened broadly flat, but tech stocks have slumped to be down more than 1.0% this morning, alongside Energy sector shares.

WINNERS

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

Security	Description	Last	%	Volume	MktCap
PTR	Petratherm	0.04	100.0	4,739,950	$4,526,397
XRG	Xreality Group	0.056	51.4	12,395,773	$20,826,380
MAY	Melbana Energy	0.028	47.4	23,804,029	$64,033,878
TMK	TMK Energy	0.004	33.3	40,000	$20,764,836
BCB	Bowen Coal	0.009	28.6	9,992,361	$19,944,254
IVX	Invion	0.0025	25.0	467,000	$13,333,183
VML	Vital Metals	0.0025	25.0	20,424	$11,790,134
STM	Sunstone Metals	0.006	20.0	210,920	$19,259,518
MIN	Mineral Resources	36.095	19.2	905,270	$5,952,548,515
IXR	Ionic Rare Earths	0.007	16.7	242,857	$29,218,576

Petratherm (ASX:PTR) was climbing quickly on Wednesday morning on news that mapping, surface sampling, and re-assaying of historic drilling has discovered high-grade titanium rich heavy mineral sands (HMS) over several kilometres at the Muckanippie Project, southwest of Coober Pedy in South Australia.

XReality Group (ASX:XRG) – formerly Indoor Skydive Australia – was up on news that the company has signed a US$5.6 million deal with the US Department of Defense to deliver a new immersive training capability and includes supplying Operator XR system licenses along with R&D services.

Melbana Energy (ASX:MAY) says that initial development of Unit 1B from the Alameda-2 well has been formally approved and is on track for Q1 2025. The company reported that it has received construction approval for the next Unit 1B well pad, and there are additional pads progressing through the permitting process.

Invion (ASX:IVX) has reported this morning that the company has been granted Human Research Ethics Committee (HREC) approval for its open label Phase I/II trial on patients with non-melanoma skin cancers (NMSC) using topical INV043. The company has secured all the necessary regulatory approvals for patient screening, treatment and follow-up, which are expected to commence from next month.

And up the top end of town, Mineral Resources (ASX:MIN) announced after hours yesterday that it has received unconditional approval from the the Foreign Investment Review Board for the sale of a 49% interest in the Onslow Iron haul road (Haul Road) to investment funds managed by Morgan Stanley Infrastructure Partners (MSIP) for total expected proceeds of $1,300 million.

LAGGARDS

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

Code	Company	Price	%	Volume	Market Cap
IEC	Intra Energy Corp	0.001	-33.3	49,000	$2,536,172
VPR	Volt Group	0.001	-33.3	992,525	$16,074,312
AOK	Australian Oil.	0.003	-25.0	4,984,877	$3,778,561
ADG	Adelong Gold	0.004	-20.0	1,199,999	$5,589,945
BNL	Blue Star Helium	0.004	-20.0	1,454,256	$9,724,426
ECT	Env Clean Tech	0.002	-20.0	37,000	$7,929,526
EMP	Emperor Energy	0.008	-20.0	200,000	$3,897,148
LML	Lincoln Minerals	0.004	-20.0	88,750	$10,281,298
ICG	Inca Minerals	0.005	-16.7	310,000	$4,863,219
MTM	MTM Critical Metals	0.04	-16.7	243,000	$13,493,129