Top 10 at 11: Gold stocks lead ASX gains as spot price surges to five-week high

News.com.au

22-07-2025

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.
Gold lifts ASX
A weakening in US bond yields and the US dollar itself has prompted a surge in the gold price overnight, jumping 1.4% to a five-week high at US$3,406.40 an ounce.
It's the usual drivers at play – Trump's latest tariff deadline of August 1 is swiftly approaching, and uncertainty around exactly what the fallout will be is brewing.
The spiking gold price has provided some much needed support for the ASX this morning, which has climbed 0.32% as of about 10:30 am AEST.
Materials is accounting for most of those gains, adding 2.09% alongside a 3.03% bounce in the All Ords Gold index and a similar 1.83% jump in the ASX 200 Resources.
Not a surprise that small cap resource stocks are making headlines this morning, then.
WINNERS
Code Name Last % Change Volume Market Cap
VR8 Vanadium Resources 0.039 70% 9127771 $12,978,713
MPA Mad Paws 0.125 67% 9176941 $30,468,169
KGD Kula Gold Limited 0.0085 21% 7739739 $6,448,776
DES Desoto Resources 0.17 21% 598222 $26,141,424
TR2 Tali Resources Ltd 0.72 21% 341655 $22,315,475
PRM Prominence Energy 0.003 20% 200000 $1,216,176
DGR DGR Global Ltd 0.007 17% 553260 $6,262,176
RC1 Redcastle Resources 0.007 17% 1199999 $4,461,401
ICR Intelicare Holdings 0.015 15% 632984 $6,320,446
AIV Activex Limited 0.023 15% 2802109 $4,310,052
In the news...
Kula Gold (ASX:KGD) has hit bonanza gold at the Mt Palmer project, with results up to 3m at 35.9 g/t gold and 1m at 83.6 g/t gold from 18m of depth.
Management says the results are evidence of Mt Palmers' strong geological fundamentals, demonstrating the long-term development potential of the asset.
Vanadium Resources (ASX:VR8) has locked in a two-year DSO offtake deal with China Precious Asia Limited for vanadium-rich magnetite, agreeing to supply 100,000 metric tonnes of DSO per month over the contract period.
The deal hinges on both the official start of mining operations at the Steelpoortdrift vanadium project and the two parties finalising pricing terms by the end of August.
Mad Paws (ASX:MPA) has entered a scheme implementation deed, agreeing to be acquired by Rover Group, Inc at $0.14 per share. The deal values Mad Paws at about $62m.
Separately, MPA is offloading its online e-commerce division under the Pet Chemist brand in a share sale agreement with VetPartners Australia Pty Ltd for about $13m in cash consideration.
LAGGARDS
Code Name Last % Change Volume Market Cap
GTR Gti Energy Ltd 0.003 -25% 500000 $14,835,762
1TTDB Thrive Tribe Tech 0.007 -22% 653500 $914,275
AAU Antilles Gold Ltd 0.004 -20% 2078947 $11,895,340
PRX Prodigy Gold NL 0.002 -20% 28500 $15,875,278
BEL Bentley Capital Ltd 0.009 -18% 5658 $837,407
TEG Triangle Energy Ltd 0.0025 -17% 1462961 $6,267,702
AZL Arizona Lithium Ltd 0.006 -14% 99500 $37,662,201
BYH Bryah Resources Ltd 0.006 -14% 3000000 $6,789,675
SPX Spenda Limited 0.006 -14% 125000 $32,306,508