The All Ordinaries Index (ASX: XAO) is in the red today – just. The benchmark is down 0.07% right now at 7,411.3. And that performance is being smashed by four ASX All Ords shares, each with big news.
Let's take a closer look at the updates driving these stocks to market-beating heights on Tuesday.
4 ASX All Ords shares soaring on exciting updates
Life science strategy firm Triangle Insights found Zantrene, the company's cardio-protective and anti-cancer agent, could boast a market opportunity of up to US$5 billion. The company's chair Dr John Cullity commented on the report, saying:
The findings have been entirely useful, informing potential treatment scenarios for Zantrene in breast cancer, an area in which we have promising historical data.
Joining the Race Oncology share price in the green is that of Aeris Resources Ltd (ASX: AIS).
The All Ords copper-gold producer announced a maiden mineral resource estimate (MRE) for its Kurrajong deposit this morning. The news has sent its shares 6.6% higher to trade at 70 cents at the time of writing.
The deposit, located within the Tritton tenement package, has an MRE of 2.2 million tonnes at 1.7% copper, including a high-grade massive sulphide lens of 1.1 million tonnes at 2.5% copper.
Another All Ords share posting a whopping gain on Tuesday is Queensland Pacific Metals Ltd (ASX: QPM).
The stock is up 23.8% right now, trading at 13 cents, on news of a collaboration agreement with a group of German companies.
The group has agreed to help advance and supply capital equipment to the All Ords company's Townsville Energy Chemicals Hub (TECH) project.
Additionally, the ASX company has received a receipt of financing support from two German financial institutions. They've confirmed their interest in lending a combined $857 million.
Managing director Andrew Pardey commented on the findings, saying:
[The company] is working diligently towards completion of a scoping study by the end of 2023 to facilitate permitting in the first half of 2024.
Infill drilling to support further mineral resource upgrades in Q3 2023 is a crucial part of our strategy and will enable [Predictive Discovery] to deliver a robust scoping study based on a significant proportion of indicated mineral resources.