Top 10 at 10: Indo nickel giant books record profits as Aussie firms dump hard

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