Top 10 at 10: Aldoro finds 'thick, high-grade' nickel; while IPH makes a Canadian acquisition

Stockhead’s Top 10 at 11, published at ~10.30am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.

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

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.

WINNERS

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

Code	Company	Price	%	Volume	Market Cap
CCE	Carnegie Cln Energy	0.0015	50%	1,218,257	$15,642,574
CLE	Cyclone Metals	0.0015	50%	263,501	$10,264,505
MXC	Mgc Pharmaceuticals	0.003	50%	1,342,500	$7,784,719
VPR	Volt Power Group	0.0015	50%	510,318	$10,716,208
ARN	Aldoro Resources	0.27	46%	1,611,221	$24,905,392
AGR	Aguia Res Ltd	0.027	35%	449,920	$8,677,085
EDE	Eden Inv Ltd	0.004	33%	263,157	$8,990,911
MRD	Mount Ridley Mines	0.0025	25%	116,028	$15,569,766
AMD	Arrow Minerals	0.003	20%	1,598,675	$7,559,413
IPH	IPH Limited	8.44	15%	333,453	$1,719,144,009

• Gold and nickel hunter Aldoro Resources (ASX:ARN) has made a thick, high-grade nickel find at its Narndee project, east of Paynes Find in Western Australia.

Preliminary results have come in from its third planned diamond hole, NDD0032, targeting an Induced Polarisation geophysical anomaly.

The company reports a drillhole reached a total depth of 576.3m with the upper 40m producing an anomalous Ni zone based on pXRF data.

Follow-up step out RC holes have been completed with the following results in drilling order from within 1m depth: NDC0019 – 1.3% Ni to 14m; NDC0020 – 1.0% Ni to 80m; NDC0021 – 1.2% Ni to 80m; NDC0022 – 0.92% Ni to 35m. Drilling of a further eight holes is currently ongoing at what’s been dubbed the “Area 32 Nickel Discovery”.

• IPH (ASX:IPH), a near $2bn intellectual property (IP) firm operating out of the Asia Pacific but expanding elsewhere, including into the Canadian market, has made an acquisition announcement.

It has reached agreement to acquire the IP services firm, Ridout & Maybee in Canada, bringing together, it says, “two leading Canadian IP firms and their highly qualified and experienced IP teams into one combined firm, which will operate under the Smart & Biggar brand.

The acquisition continues IPH’s pursuit of opportunities in the secondary IP market and follows the company’s acquisition of Smart & Biggar in Canada in October 2022.

LOSERS

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

Code	Company	Price	%	Volume	Market Cap
MCT	Metalicity Limited	0.001	-50%	160,275	$7,472,172
AXP	AXP Energy Ltd	0.001	-33%	1	$8,737,021
NXD	Nexted Group Limited	0.84	-30%	168,627	$265,652,128
VAL	Valor Resources Ltd	0.003	-25%	541,666	$15,313,339
CXO	Core Lithium	0.415	-24%	24,936,389	$1,012,891,653
MRQ	Mrg Metals Limited	0.002	-20%	1,317,668	$5,464,797
KRR	King River Resources	0.009	-18%	4,500	$17,088,774
LML	Lincoln Minerals	0.005	-17%	103,739	$8,524,271
CPT	Cipherpoint Limited	0.006	-14%	99,084	$8,114,692
HOR	Horseshoe Metals Ltd	0.012	-14%	23,567	$9,008,701

Core Lithium (ASX:CXO) has announced a successful capital raise – its A$100m fully underwritten institutional placement it revealed on Wednesday.

The company notes the placement was supported by existing shareholders and new domestic and offshore institutional investors. 250 million new shares are being issued under the placement at a fixed price of A$0.40 per unit.

As Stockhead’s Josh Chiat reported the other day, this comes less than a year after CXO raked in $100 million in fresh equity to support the completion of its Finniss lithium mine near Darwin.

The project shipped its first spodumene concentrate in the June quarter, producing 3589t and 14,685t in March and June respectively at recoveries of 47.4% and 48.6%.