Top 10 at 11: A Canadian land sale and gold, gold, gold are today’s news

Good morning, and welcome to Stockhead’s Top 10 at 11, a short, sharp update to help frame the trading day.

Pic via Getty Images

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 Futures was pointing 0.7% higher this morning, following a rally on Wall Street overnight that saw the big tech companies snap the recent run of losses ahead of the upcoming round of earnings.

The ASX got off to a decent start this morning, opening around 0.4% higher, with the bulk of the sectors enjoying the verdant greenery of positive movement, leaving Energy alone to wallow as it continued its downward trend for the week.

WINNERS

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

Security	Description	Last	%	Volume	MktCap
ME1	Melodiol Glb Health	0.005	66.7	26,622,612	$1,102,750
DEL	Delorean Corporation	0.071	51.1	1,668,160	$10,138,883
MHC	Manhattan Corp Ltd	0.0015	0.0	65,000	$4,405,470
RML	Resolution Minerals	0.003	50.0	250,000	$3,220,044
ITM	Itech Minerals Ltd	0.1025	36.7	962,405	$9,171,267
NGX	Ngxlimited	0.22	33.3	329,868	$14,950,954
88E	88 Energy Ltd	0.0025	25.0	1,923,006	$57,785,344
QHL	Quickstep Holdings	0.345	19.0	359,019	$20,800,602
DYM	Dynamicmetalslimited	0.16	18.5	50,000	$4,860,000
SPR	Spartan Resources	1.17	17.6	3,060,542	$1,101,323,597

Melodiol Global Health (ASX:ME1) was off to a flying start, after announcing a $12 million cash asset sale to bolster its bank account. The company has signed a non-binding LOI with Canadian-based Nacerna Life Sciences to sell its Mernova production facility and land in Nova Scotia, with two earn-out provisions totalling $2.2m which are payable to Melodiol on completion of each earn out provisions.

Delorean (ASX:DEL) gained ground after issuing guidance for its FY24 results, announcing unaudited revenue for the year of between $27m and $28m, a record NPAT and targeting an eventual EBITDA of between $4.5 million and $5.1 million.

Resolution Minerals (ASX:RML) released its quarterly report this morning, revealing that it spent $49,000 on exploration activities in the June quarter, leaving the company with $239,000 in the bank.

iTech Minerals (ASX:ITM) was up on news of significant rock chip finds at Reynolds Range, with results including 18.2% Cu, 285.0 g/t Ag and 1.0 g/t Au, 14.2% Cu, 1,490.0 g/t Ag and 3.3 g/t Au, and 16.4% Cu, 57.2 g/t Ag and 1.0 g/t Au – to add to a previously reported gold assays with up to 182 g/t Au.

Quickstep Holdings (ASX:QHL) was rising on news via a business update, with the company revealing that restructuring activity, announced to the market in June 2024, has been successfully completed, and a number of key business strands, including work on the C-130 and F35 aircraft, have been planned out. The company also highlighted ​​record drone production output in Q4 FY24 from the Company’s Geelong facility.

And Spartan Resources (ASX:SPR) was rising after releasing an updated Mineral Resource Estimate for the Dalgaranga gold project, which now totals 16.1Mt at 4.79g/t gold for 2,482,200 ounces, comprising 5.72Mt @ 8.07g/t gold for 1,485,200 ounces at the Never Never gold deposit, 1.78Mt @ 7.66g/t gold for 438,100 ounces t the Pepper gold deposit, and 8.63Mt @ 2.01g/t gold for 558,900 ounces listed as  “Other” Underground MRE.

LAGGARDS

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

Code	Company	Price	%	Volume	Market Cap
MTL	Mantle Minerals Ltd	0.002	-33.3	5,675,000	$18,592,338
YPB	YPB Group Ltd	0.002	-33.3	2,003,236	$6,923,884
RCL	Readcloud	0.09	-21.7	468,873	$16,813,518
AZI	Altamin Limited	0.031	-20.5	250,000	$17,115,112
MSG	Mcs Services Limited	0.004	-20.0	839,000	$990,498
VFX	Visionflex Group Ltd	0.004	-20.0	58	$7,500,000
NWM	Norwest Minerals	0.029	-14.7	1,001,860	$13,196,063
AMD	Arrow Minerals	0.003	-14.3	33,771,958	$36,887,778
RGL	Riversgold	0.006	-14.3	7,887,395	$8,467,038
DGR	DGR Global Ltd	0.025	-13.8	2,116,789	$30,267,111

Originally published as Top 10 at 11: A Canadian land sale and gold, gold, gold are today’s news