Why AnteoTech, Crown, Dotz Nano, & Galan Lithium are zooming higher

Crown Resorts Ltd (ASX:CWN) and Galan Lithium Ltd (ASX:GLN) are two of four ASX shares storming higher on Monday…

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In early afternoon trade on Monday the S&P/ASX 200 Index (ASX: XJO) has fought back from a poor start and is pushing higher. At the time of writing, the benchmark index is up 0.45% to 6,737.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are zooming higher:

Anteotech Ltd (ASX: ADO)

The Anteotech share price has jumped 18% to 26.5 cents. The catalyst for this was the release of an update on its rapid COVID-19 test. According to the release, the biotech company’s COVID-19 Antigen Rapid Test was reviewed by the Victorian Infectious Diseases Reference Laboratory and achieved sensitivity of 97.3% and specificity of 99.6%. Management advised that the results will form the basis of its CE Mark submission.

Crown Resorts Ltd (ASX: CWN)

The Crown share price has surged 17.5% higher to $11.58. Investors have been fighting to get hold of the casino and resorts operator’s shares after it confirmed the receipt of a takeover approach. US investment company Blackstone has made an unsolicited, non-binding, and indicative proposal to acquire all of the shares in Crown at $11.85 cash per share. This was a 20.1% premium to its last close price. The Crown board is now assessing the proposal.

Dotz Nano Ltd (ASX: DTZ)

The Dotz Nano share price is up 7% to 29.5 cents. This morning the advanced technology company revealed that it has obtained CE Mark authorisation for its SARS-CoV-2 virus detection technology. The CE Mark clears the saliva-based diagnostic Dotz Test Kits for sale in the European Union. Management notes that the Dotz Test Kit is less intrusive than the current standard method of sample collection in most parts of the world. 

Galan Lithium Ltd (ASX: GLN)

The Galan Lithium share price has stormed 12% higher to 52.5 cents. This morning the lithium focused mineral exploration company announced that the testing of a new process has resulted in higher grade lithium product. In fact, the end product is the same quality as that of nearby mining giants SQM and Albemarle. Galan’s Managing Director, Juan Pablo Vargas de la Vega, commented: “These results are better than we envisaged and have more than solidified the serious potential of the Hombre Muerto West project.”

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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