Stockhead’s In-Case-You-Missed-It highlights some strongest performing ASX stocks that might have slipped your notice today. 

It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.

 

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Stocks highlighted in blue have made market-moving announcements (click headings to sort).

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Indiana Resources (ASX:IDA) could be ~US$70m richer after the International Centre for Settlement of Investment Disputes, part of the World Bank, ordered Tanzania to pay US$109.5m ($160m)  for the unlawful expropriation of the Ntaka Hill nickel project (IDA ~62% ownership) in 2018.

It’s been a tough slog to get to this point for IDA, which is now focused on rare earths and gold exploration in South Australia.

Once considered investment-friendly, the east African nation of Tanzania stunned ASX resource plays in July 2017 with sweeping changes to its Mining Act.

As part of these changes, Indiana had its Retention Licence for its advanced Ntaka Hill nickel sulphide project cancelled by the Tanzanian government.

IDA chose Litigation Capital Management (LCM), a firm listed on the Alternative Investment Market (AIM) of the London Stock Exchange, to fund the multi-year litigation process.

LCM, which only get paid in the event of a successful claim, are used to winning. 

Will Tanzania pay up though? IDA and team are now moving “to the enforcement phase”.

 

Cyber security stock Hubify (ASX:HBY) is expected to deliver consolidated FY23 revenue (unaudited) of $25.72m, a record for the company and an increase of 8% on the prior year.

Importantly, it says, recurring revenue grew to 82% of total customer revenue on this record result.

“The company’s managed service business continues to grow strongly, with the expansion of enterprise customer offerings in business IT, cloud services, IT Infrastructure and more recently a refreshed cyber security offering,” HFY said. 

“These enhanced product offerings along with sales efforts are driving a growing pipeline of new clients which will improve annual recurring revenue in the company’s managed services and cyber security divisions.”
Akora Resources (ASX:AKO) says its Bekisopa project in Madagascar is shaping up “as one of the highest-grade iron ore projects in the world”.

The Bekisopa Southern Zone now includes 5.54Mt @ 60.35% fe of direct shipping ore (DSO) following a recent resource update.

DSO tonnes along the Bekisopa 6km strike is now 9.14Mt, excluding the high-grade outcrop, the company says.
Lycaon Resources (ASX:LYN) says drilling – delayed by flooding — is now due to start in August at the Bow River nickel-copper project in WA’s East Kimberley region.

“Bow River is an extremely compelling nickel-copper magmatic sulphide prospect which ranks as a standout target in the Kimberley, with similarities to Panoramic’s Savannah mine and I’m extremely excited to be able to drill this very soon,” LYN technical director Tom Langley says.

And OD6 Metals (ASX:OD6) says its flagship Splinter Rock project is emerging as one of the largest and highest-grade clay-hosted rare earth projects in Australia after unveiling a 344Mt @ 1,308ppm TREO maiden resource.

 

At Stockhead we tell it like it is. While Lycaon Resources and OD6 Metals are Stockhead advertisers, they did not sponsor this article.

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