Top 10 at 11: Gold, gas, money and THC gummies are today’s happy news
Good morning, and welcome to Stockhead’s Top 10 at 11, a short, sharp update to help frame the trading day.
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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: Local markets have opened lower this morning, down about 0.3% when the bell rang. Industrials got off to a flyer, briefly leading the way before a rocket went off underneath the InfoTech sector, which jumped 4.0% in early trade, however the Energy sector was off by 1.99% so it’s still line ball for the benchmark.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| DUN | Dundas Minerals | 0.054 | 125.0 | 4,943,312 | $2,031,073 |
| MEL | Metgasco | 0.004 | 33.3 | 130,000 | $4,342,760 |
| MTL | Mantle Minerals | 0.002 | 33.3 | 801,197 | $9,296,169 |
| MAT | Matsa Resources | 0.036 | 28.6 | 733,832 | $15,828,217 |
| CZN | Corazon | 0.005 | 25.0 | 240,000 | $2,671,622 |
| EEL | Enrg Elements | 0.0025 | 25.0 | 1,000,000 | $2,019,930 |
| HUM | Humm Group | 0.635 | 22.1 | 1,490,304 | $255,513,099 |
| GTE | Great Western Exp. | 0.03 | 20.0 | 419,174 | $10,875,332 |
| BXN | Bioxyne | 0.006 | 20.0 | 3,488,000 | $10,233,227 |
| CL8 | Carly Holdings | 0.012 | 20.0 | 293,906 | $2,683,704 |
Dundas Minerals (ASX:DUN) went flying on Wednesday morning, up 125% in a matter of minutes on news that it has drilled into high grade gold while exploring at the Windanya and Baden-Powell projects, located adjacent the Goldfields Highway ~60km north of Kalgoorlie, Western Australia, with the highlight being an assay of 9.5 g/t Au between 146m and 147m, with drilling to be extended to further test the depth of mineralisation.
Metgasco (ASX:MEL) was up on news that work at its 25% owned Odin and Vali gas field is set to recommence after bad weather in July hampered progress. The company says that two wells, Odin-1 and Vali-1 continue to perform steadily, averaging production rates of 1.4 MMscf/d and 1.1 MMscf/d respectively, and work is underway to bring Odin-2 to productivity.
Humm (ASX:HUM) released its results for FY24, and investors were happy. The company reported statutory net profit (after tax) of $7.1 million was up 145%, with the second half statutory net profit (after tax) of $13.1 million representing a turnaround of $19.1 million from the first half loss of $6.0 million. The company says it’s in good shape, with $125.1 million in unrestricted cash and $0.7 billion of warehouse headroom.
Bioxyne (ASX:BXN) was flying high on Wednesday morning on news that the company has produced its first commercial run of edible cannabis products, namely THC gummies to fulfil an order that the company had taken a deposit for. The company says it is now scaling up its gummy manufacturing capabilities from 2 million single doses per month to 6 million to meet anticipated market demand.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| OVT | Ovanti | 0.004 | -20.0 | 1,185 | $7,613,027 |
| PNX | PNX Metals | 0.004 | -20.0 | 125,000 | $29,851,074 |
| JPR | Jupiter Energy | 0.025 | -16.7 | 81,370 | $38,209,566 |
| ECT | Env Clean Tech | 0.0025 | -16.7 | 525,589 | $9,515,431 |
| TEG | Triangle Energy | 0.005 | -16.7 | 50,000 | $12,480,804 |
| CDT | Castle Minerals | 0.003 | -14.3 | 20,000 | $4,647,392 |
| EXL | Elixinol Wellness | 0.003 | -14.3 | 17,647 | $4,624,138 |
| ADG | Adelong Gold | 0.0035 | -12.5 | 1,948,793 | $4,471,956 |
| BLZ | Blaze Minerals | 0.0035 | -12.5 | 794 | $2,514,233 |
| VKA | Viking Mines | 0.007 | -12.5 | 104,419 | $8,202,067 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Top 10 at 11: Gold, gas, money and THC gummies are today’s happy news
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