Yep, wheeling out the old nickel-at-back-of-couch analogy. Pic via Getty Images
Top 10 at 10: Aldoro finds ‘thick, high-grade’ nickel; while IPH makes a Canadian acquisition
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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%.
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