Top 10 at 11: A bonkers gold MRE and strong quarterlies are making news today

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 has tumbled at open, after a mixed session on Wall Street knocked the gloss off yesterday’s effort. Basically, take everything we said about the markets and turn it on its head.

Every sector’s in the red, with the worst of them being yesterday’s early climbers – InfoTech and Resources are not having a great morning at all… but there are some winners.

WINNERS

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

Security	Description	Last	%	Volume	MktCap
A1G	African Gold Ltd.	0.04	66.7	6,726,286	$5,741,177
AD1	AD1 Holdings Limited	0.01	66.7	101,963	$5,391,890
APC	Aust Potash Ltd	0.0015	50.0	517,856	$4,070,189
HLX	Helix Resources	0.003	20.0	4,976,716	$8,160,484
R8R	Regener8Resourcesnl	0.135	37.8	103,013	$3,087,245
DOU	Douugh Limited	0.004	14.3	25,000	$3,787,241
EXL	Elixinol Wellness	0.004	33.3	100,670	$3,963,547
IEC	Intra Energy Corp	0.002	33.3	6,255,005	$2,536,172
APX	Appen Limited	0.5375	25.0	5,184,776	$95,890,706
AHN	Athena Resources	0.005	25.0	3,733,333	$4,281,870

African Gold (ASX:A1G) was flying quickly on Tuesday morning, on news of a maiden gold resource from the Blaffo Guetto prospect at the Didievi Project in  Cote d’Ivoir, which has come in at an Inferred 4.93Mt for 452koz of gold at 2.9 g/t (1.0 g/t Au cut off). The company says that several key assays tell an exciting story, such as 10.0m at 123.0g/t gold from 66m including 2.0m at 613.0g/t gold, and 80.0m at 3.0g/t gold from surface, including 23.0m at 9.5g/t gold.

SaaS technology company AD1 Holdings (ASX:AD1) released its quarterly this morning, and investors were enjoying what it had to say. AD1 says that its North American business has grown by over 100%, a rebranding is well underway and the company has about 200 grand in the bank.

Regener8 Resources (ASX:R8R) was up on news that the company has executed an agreement covering the  acquisition of tenement application ELA6755, known to its friends as North Achilles, in the Cobar district of western NSW. Regener8’s purchase lies approximately 2km along strike from Australian Gold and Copper (ASX:AGC) recent Achilles discovery, which has returned drill intercepts up to 5m @ 16.9g/t Au, 1,667g/t Ag, 0.4% Cu and 15% Pb + Zn.

Elixinol Global (ASX:EXL) issued its quarterly, and it’s jam-packed with healthy news that’s tasty as well. Q2 Group revenue was up 118% to $3.7 million from $1.7M a year ago, and that represents the seventh consecutive quarter of revenue growth. Additionally, record Q2 sales of $3.2 million are a twofold increase over Q2 FY23, a 29% improvement on Q1’s $2.5 million and have handed Elixinol an unaudited H1 revenue that has almost doubled to $6.8 million from $3.5 million on PCP.

Appen (ASX:APX) also dropped its quarterly this morning, with mixed (but still mostly positive) news that revenue for Q2 FY24 was $55.0 million, down 16% on previous corresponding period – however, excluding Google revenue from the equation has the company’s revenue for Q2 FY24 grew 16% from $47.2 million in Q2 FY23.

LAGGARDS

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

Code	Company	Price	%	Volume	Market Cap
PSL	Paterson Resources	0.02	-31.0	576,980	$13,225,098
LM1	Leeuwin Metals Ltd	0.06	-28.6	8,333	$3,935,540
ERA	Energy Resources	0.025	-28.6	1,865,398	$775,190,472
IVX	Invion Ltd	0.003	-25.0	184,199	$26,418,129
ME1	Melodiol Glb Health	0.003	-25.0	3,269,721	$2,430,946
MRQ	Mrg Metals Limited	0.003	-25.0	512,627	$10,846,075
PKO	Peako Limited	0.003	-25.0	20,000	$2,108,339
OVT	Ovanti Limited	0.004	-20.0	1,100,000	$6,200,527
QHL	Quickstep Holdings	0.355	-19.3	197,419	$31,559,534
ASE	Astute Metals NL	0.032	-17.9	100,000	$16,537,175

Originally published as Top 10 at 11: A bonkers gold MRE and strong quarterlies are making news today