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6 stocks soaring on the ASX today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to claw its way into the black, posting a gain of 5 points to reach 5,516.6 or 0.1%.

These six stocks all managed gains of 7% or more, putting the rest of the market to shame. Here’s our quick view…

Medusa Mining Limited (ASX: MML) gained 10.2% to close at 86.5 cents. Today the gold miner announced that it had located a major gold find of around 5 km long at its Guinhalinan prospect, Philippines. Medusa already operates the Co-O mine in the country, which produced nearly 60,000 ounces of gold in 2014.

Sundance Resources Limited (ASX: SDL) saw its shares jump 12.5% to 2.7 cents, despite iron ore prices falling slightly overnight. Sundance shares have lost 71% of their value in the past twelve months, as the commodity price more than halved. Still the miner is developing the massive Mbalam-Nabeba iron ore project in central Africa, which could be worth a pretty penny.

SmartTrans Holdings Limited (ASX: SMA) jumped 15% to 1.15 cents. The company is developing a mobile payments platform for the China market as one of its skills, as well as software to allow businesses to manage mobile workforces in Australia. Today, SmartTrans announced revenue for the first half of 2015 was at $2.0 million, up 100% over last year and strong growth in monthly revenues in China. SmartTrans may be worthwhile adding to your watchlist.

BC Iron Limited (ASX: BCI) saw its shares gain 8.1% to 46.5 cents, perhaps driven by contrarian bargain hunters in the iron ore space. But as I wrote yesterday, that is fraught with danger, and many professional fund managers are avoiding the sector too. BC Iron may look cheap, but it’s cheap for a reason.

Crown Resorts Ltd (ASX: CWN) soared 7.5% to $13.70. James Packer’s major investment, Crown has benefitted from positive numbers coming out of Macau. Gross gaming revenue gained 6% in the last week according to Bank of America and Crown has a joint venture casino in Macau. The company has been hit hard by a crackdown on corruption by China, which saw casino revenues smashed.

Paragon Care Ltd (ASX: PGC) gained 7.0% to 46 cents, after reporting strong cash flows for the December quarter. The company says it had surplus cash flow of $1.37 million, compared to a $280,000 deficit in the prior period and a strong first half performance. Paragon says it is on track to report $3.5 to $4 million in earnings before interest, tax, depreciation and amortisation (EBITDA) this financial year. Paragon provides consumables and medical equipment to hospitals, medical centres and aged care facilities, and might be another stock to add to your watchlist.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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