In Case You Missed It: Software revenue and some high grade nickel hits
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.
Stocks highlighted in blue have made market-moving announcements (click headings to sort).
Software stock Nuix (ASX:NXL) released its preliminary FY23 results and the company expects statutory earnings before interest, tax, depreciation and amortisation (EBITDA) to surge 164-189% in FY23 to $32-35m.
The company – which offers ‘investigative analytics and intelligence software for extracting knowledge from unstructured data’ – put this down to its strategy of funding software development costs from free cash flow.
NXL was cash-flow positive in both the second half and over the full year, excluding non-operational legal costs and acquisition and operating costs related to the Topos acquisition. This positive underlying cash flow compares to the company’s previously stated aim of being underlying cash flow neutral for the year.
Nuix ended the financial year with cash on hand of $29.6m and no debt.
Two rigs are spinning at Adavale Resources’ (ASX:ADD) flagship Kabanga Jirani nickel project in Tanzania, where final assays are pending for a handful of holes.
ADD’s project is adjacent to the Tier-1, high-grade Kabanga deposit, one of the largest undeveloped nickel sulphide projects in the world.
Kabanga contains 58Mt of resources at an average nickel grade of 2.62%, up to an even higher equivalent of 3.14% when copper and cobalt credits are included.
Another nickel play, LCL Resources (ASX:LCL) (previously known as Los Cerros) has uncovered a 200m wide corridor of high-grade nickel sulphides – include nickel-rich boulders up to 1m in diameter – at the Veri Veri project in PNG.
Multiple surface samples return over 10% nickel sulphides – that’s high grade – including a trench of 3m @ 2.11%Ni and 0.23g/t Au.
Veri Veri is a distinctive hydrothermal nickel sulphide-gold system. It could also be very big, LCL says.
Cooper Metals (ASX:CPM) has identified 11 new copper-gold targets on its Ardmore tenement from rock chips sampling which returned grades up to 17.1% copper and 0.79g/t gold.
All up, it has over 50 targets to work with across its 1600sqkm Mt Isa East project in QLD, which we think is probably enough for now.
And Dateline Resources (ASX:DTR) has hit 81.35m at 2.57g/t gold from 81.01m at its 813,000oz Colosseum gold mine in California.
The results of this drilling program will be used to update the resource.
At Stockhead we tell it like it is. While Dateline Resources is a Stockhead advertisers, it did not sponsor this article.