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Top 10 at 10: Indo nickel giant books record profits as Aussie firms dump hard
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Stockhead’s Top 10 at 10, published at ~10.40am 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).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| PRX | Prodigy Gold NL | 0.004 | 33% | 602,668 | $5,253,323 |
| AXN | Alliance Nickel Ltd | 0.039 | 30% | 224,255 | $21,775,188 |
| IEC | Intra Energy Corp | 0.0025 | 25% | 1,000,000 | $3,321,563 |
| NAE | New Age Exploration | 0.005 | 25% | 250,000 | $7,175,596 |
| AD1 | AD1 Holdings Limited | 0.006 | 20% | 200,000 | $4,493,242 |
| IBG | Ironbark Zinc Ltd | 0.006 | 20% | 100,000 | $7,969,363 |
| VML | Vital Metals Limited | 0.006 | 20% | 100,000 | $29,475,335 |
| YOJ | Yojee Limited | 0.003 | 20% | 297 | $6,363,858 |
| MP1 | Megaport Limited | 11.65 | 19% | 561,290 | $1,556,240,642 |
| LVH | Livehire Limited | 0.053 | 18% | 876,991 | $16,398,634 |
“Against a backdrop of Australian closures and write downs” Indo-based Nickel Mines (ASX:NIC) has inked a record group EBITDA from operations of US$135.4m.
NIC will also increase its final period dividend to 2.5c (2022: 2c) and embark on an on-market share buyback program of up to US$100M.
“With Australia’s competitiveness in the nickel market on the decline, Indonesia has been a huge winner in terms of downstream investment, jobs and wealth creation,” managing director Justin Werner says.
“In the nickel space, we think of Indonesia as what WA is in iron ore.’’
Internet co Megaport (ASX:MP1) recorded total revenue of $48.6m for the December quarter, up 2.1m (5%) on the prior quarter. It added 39 net new revenue-generating customers over the period.
Recruitment stock LiveHire (ASX:LVH) eked out its first ever profit with $800,000 in net operating cashflow for the December quarter.
It also continued to slash costs, with a reduction from an annualised run rate from ~$22m to ~$13m.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| OAR | OAR Resources Ltd | 0.002 | -33% | 1,020,408 | $7,931,183 |
| WEC | White Energy Company | 0.034 | -32% | 10,164 | $5,661,767 |
| AMT | Allegra Medical | 0.031 | -30% | 167,741 | $5,262,885 |
| ADD | Adavale Resource Ltd | 0.006 | -25% | 3,976,594 | $6,489,377 |
| PVW | PVW Resources | 0.044 | -23% | 38,242 | $5,780,072 |
| BNL | Blue Star Helium Ltd | 0.018 | -22% | 6,378,838 | $44,672,101 |
| 1MC | Morella Corporation | 0.004 | -20% | 526,887 | $30,893,997 |
| CHK | Cohiba Minerals | 0.002 | -20% | 65,217 | $6,325,575 |
| M4M | Macro Metals Limited | 0.002 | -20% | 812,500 | $6,167,694 |
| NES | Nelson Resources | 0.004 | -20% | 1,250,000 | $3,067,972 |
Uranium and nickel explorer Adavale Resources (ASX:ADD) will raise $1.5m at 0.7c per share, plus 1:1 attached option exercisable at 3c.
Blue Star Helium (ASX:BNL) has drilled a duster at its Voyager helium development in Las Animas County, Colorado.
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