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Highlights:
Two ASX small-cap shares are shooting the lights out today, posting intraday gains of more than 50%. These high-flyers come from vastly different sectors: one is a healthcare technology and services company, while the other is a mineral exploration company. Let's dive into these two stocks that are making headlines.
First up is Resonance Health Ltd (ASX:RHT), a healthcare technology and services company that has seen its stock price surge by over 47% today. The company, which exited a trading halt at 3.8 cents per share, saw its price climb as high as 6.2 cents, before settling around 5.6 cents at the time of writing. This impressive rally follows the announcement of a major contract win.
Resonance Health has been contracted by Sun Pharmaceutical Industries, a global pharmaceutical company, to act as the local Australian sponsor for a clinical trial of a new drug compound. The agreement, which is valued at an estimated $13.8 million in revenue over the next two years, has investors piling into the stock.
CEO Andrew Harrison highlighted the importance of this contract, noting it reflects the company’s ability to secure repeat business and scale up its operations in the global clinical trials market. This win is a significant step for Resonance Health as it continues to build its reputation in the healthcare sector.
Petratherm Ltd (ASX:PTR) Skyrockets on Mineral Exploration Results
The second small-cap stock that's going ballistic today is Petratherm Ltd (ASX:PTR), a mineral exploration company focused on South Australia’s Muckanippie project. Petratherm entered a trading halt last Friday after closing at 4.9 cents, and by today, its shares have surged to 8.1 cents, reflecting an impressive gain of 65.3%.
The catalyst for the rally? Petratherm reported “outstanding results” from a trial heavy mineral separation test at its Rosewood prospect. The test revealed highly significant heavy mineral grades, including titanium-rich minerals, which are in high demand globally due to their critical role in manufacturing and technology.
Petratherm’s CEO Peter Reid was understandably bullish about the results, saying the initial findings were beyond expectations. With titanium on the critical minerals list for countries like Australia, the U.S., and the EU, the results position Petratherm as a potential player in the high-value titanium sector. As the Muckanippie project progresses, there’s growing optimism around the potential for significant returns.
