The ASX is looking sullen again this morning, but there are some golden treasures to be found amidst a sea of red. Pic: Getty Images

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.

 

Broad market selldown

The market is moving broadly lower this morning, shedding 0.26% with nine of 11 sectors in the red.

There’s not a lot of resistance to speak of at present.

The top banks have recovered somewhat from yesterday (+0.28%), and gold rose 0.8% again overnight to US$3545.80 an ounce, a fresh all-time high.

Gold futures are moving higher again this morning, stretching into new territory above US$3555 an ounce.

Oil also rose 1%, climbing to US$68.33 a barrel of Brent as airstrikes on Russian crude facilities threaten supply disruptions and a weaker US dollar pushes commodities higher.

For all that, iron ore fell 1.8% to US$101.65 a tonne in Singapore trade.

While there’s still plenty of potential for a turnaround, it’s looking like a pretty bearish market this morning.

Let’s take a look at the stocks offering a bit of sparkle amongst the gloom.

 

SMALL CAP WINNERS
Code Name Last % Change Volume Market Cap MDI Middle Island Res 0.036 80% 16441106 $5,864,679 FBM Future Battery 0.039 63% 13847749 $16,191,865 VRX VRX Silica Ltd 0.16 39% 3329662 $85,939,878 AOA Ausmon Resorces 0.004 33% 1000000 $3,933,640 COD Coda Minerals Ltd 0.14 27% 461594 $27,495,045 AQX Alice Queen Ltd 0.005 25% 200000 $5,538,785 XGLR Xamble Group 0.005 25% 417882 $452,019 AMS Atomos 0.006 20% 500000 $6,075,092 TEM Tempest Minerals 0.006 20% 88993 $5,508,975 TMX Terrain Minerals 0.003 20% 16366743 $6,454,536 WordPress Table

 

In the news…

Middle Island Resources (ASX:MDI) has snapped up a 620km2 exploration portfolio prospective for gold, silver and copper after acquiring Konstantin Resources.

Konstantin had accumulated a broad selection of exploration assets in Serbia and the Balkan region, building out a pipeline of gold and base metal targets across Serbia’s prolific Tethyan Metallogenic Belt.

MDI will also be partnering with Cygnet Capital to raise $3.4m in a share placement, with funds to support the next stage of exploration across its new assets.

Future Battery Metals (ASX:FBM) has hit broad gold in the first 10 holes drilled at the Miriam project in WA’s goldfields, unearthing results up to 33m at 1.57 g/t gold from 35 and 29m at 1.45 g/t gold from 32m downhole.

Management says the gold hits highlight multiple areas were lodes offer strong extensional potential, and FBM is keen to follow up with more drilling.

VRX Silica (ASX:VRX) has gotten the environmental green light for its Arrowsmith North silica sand project, clearing the runway to offtake agreements, financing and project development work streams.

VRX is targeting first production for the second half of 2026, with plans to build Arrowsmith north into a long-life silica sand project for foundry, container glass and flat-glass markets in Asia.

 

SMALL CAP LAGGARDS
Code Name Last % Change Volume Market Cap M2R Miramar 0.002 -33% 1000999 $3,029,566 PAB Patrys Limited 0.001 -33% 14 $4,342,739 DY6 Dy6Metalsltd 0.22 -27% 1127030 $27,414,806 BKT Black Rock Mining 0.021 -24% 5321838 $40,690,422 BYH Bryah Resources Ltd 0.004 -20% 101100 $5,142,663 ECS ECS Botanics Holding 0.0065 -19% 105111 $10,368,397 ITM Itech Minerals Ltd 0.053 -17% 1830104 $10,933,465 1CG One Click Group Ltd 0.01 -17% 5050000 $14,187,434 MGU Magnum Mining & Exp 0.01 -17% 23582323 $27,816,446 NTM Nt Minerals Limited 0.0025 -17% 25000 $3,632,709 WordPress Table

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.