2 days ago
Top 10 at 11: Gallium in spotlight as ASX climbs toward new record high
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, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
ASX reaches for new highs
Climbing 0.43% in the first hour of trade, the ASX is within spitting distance of a new all-time high, just 0.13% away.
Nine of 11 sectors are driving the bourse's momentum, led by energy (+1.18%). Info tech (-0.23%) and health care (-0.33%) are dragging alongside the All Ords Gold index (-1.78%), down for a second day in a row.
The ASX 200 Resources is pushing in the other direction (+0.78%), as evidenced by the glut of resources stocks on our Top 10 winners list for the morning.
WINNERS
Code Name Last % Change Volume Market Cap
JAV Javelin Minerals Ltd 0.003 50% 60002 $12,252,298
VML Vital Metals Limited 0.003 50% 3000000 $11,790,134
KP2 Kore Potash PLC 0.06 36% 971577 $28,764,401
AYT Austin Metals Ltd 0.005 25% 2071330 $6,296,765
PV1 Provaris Energy Ltd 0.011 22% 450000 $6,282,012
ADG Adelong Gold Limited 0.006 20% 802466 $10,343,383
ALY Alchemy Resource Ltd 0.006 20% 200000 $5,890,381
BLZ Blaze Minerals Ltd 0.003 20% 6294900 $3,917,370
MGU Magnum Mining & Exp 0.006 20% 85000 $5,608,254
PLC Premier1 Lithium Ltd 0.012 20% 583333 $3,680,606
In the news...
Blaze Minerals (ASX:BLZ) is turning heads after hitting gallium and rubidium mineralisation at its Ntungamo project in Uganda.
While the mineralisation isn't particularly high grade in this first pass of drilling, the price of gallium has surged 23% since January last year, marking the critical mineral as a lucrative exploration target.
BLZ's drilling also encountered scandium mineralisation, but no neodymium or praseodymium of any economic significance.
LAGGARDS
Code Name Last % Change Volume Market Cap
PAB Patrys Limited 0.001 -33% 9426236 $3,086,171
G50 G50Corp Ltd 0.14 -26% 225759 $30,513,555
CRR Critical Resources 0.003 -25% 2829838 $10,456,885
CHM Chimeric Therapeutic 0.004 -20% 100000 $10,075,971
CZN Corazon Ltd 0.002 -20% 45143 $2,961,431
TMX Terrain Minerals 0.002 -20% 71000 $5,621,392
VRC Volt Resources Ltd 0.004 -20% 1250000 $23,423,890
CF1 Complii Fintech Ltd 0.018 -18% 60481 $12,570,660
CCO The Calmer Co Int 0.0025 -17% 28571 $9,034,060
IFG Infocusgroup Hldltd 0.005 -17% 21500 $1,655,771
In the news...
G50 Corp's (ASX:G50) has also released a gallium-based announcement, although the market wasn't quite as impressed with the results as in BLZ's case.
While G50's mineralogy study has confirmed the presence of gallium in three types of mineral samples at its Golconda gold-silver-zinc project, the content is fairly low, represented in just 38% of the host rock.
The mineral type with the best gallium content of 55 parts per million accounts for just 7% of the rock content, meaning G50 will need to extract and concentrate the critical mineral before it can be sold on to off takers.
