Top 10 at 11: Half year results and legal woes are making news today

Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, which is meant to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms that have made announcements.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading – for better or worse – and then I do my best to make sense of who’s moving where and why it might be happening.

Anyway… here’s what’s been happening since the doors were opened this morning…

WINNERS

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

Code	Description	Last	%	Volume	MktCap
TD1	Tali Digital Limited	0.0015	50%	3,883,001	$3,295,156
MRD	Mount Ridley Mines	0.002	33%	620,364	$11,677,324
CUE	CUE Energy Resource	0.084	25%	3,712,162	$46,774,021
CTO	Citigold Corp Ltd	0.005	25%	200,000	$12,000,000
EDE	Eden Inv Ltd	0.0025	25%	451,412	$7,356,542
LNR	Lanthanein Resources	0.005	25%	257,852	$5,159,248
NRZ	Neurizer Ltd	0.005	25%	1,360,100	$5,855,643
VAL	Valor Resources Ltd	0.003	20%	816,356	$11,472,533
ARL	Ardea Resources Ltd	0.47	18%	159,305	$78,806,766
NFL	Norfolk Metals	0.135	17%	169,880	$4,078,968

Cue Energy Resources (ASX:CUE) is up this morning after delivering its half-year report, showing a 22% increase in revenue to $29.3 million, and an underlying EBITDAX of $19.3 million, up 21%, and a 34% NPAT increase to $9.1 million.

Ardea Resources (ASX:ARL) and its Japanese consortium partners have reached an agreement on the scope and budget for the Kalgoorlie Nickel Project – Goongarrie Hub Definitive Feasibility Study. The Consortium has advised Ardea that they have completed their due diligence, and a final investment decision is in the works.

Norfolk Metals (ASX:NFL) is up this morning after delivering an upbeat projects update for its copper-gold play in Tasmania, and an expansion to its uranium exploration in South Australia.

LOSERS

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

Code	Company	Price	%	Volume	Market Cap
CMD	Cassius Mining Ltd	0.02	-35%	3,146,482	$16,802,139
DCX	Discovex Res Ltd	0.001	-33%	311,239	$4,953,852
SI6	SI6 Metals Limited	0.003	-25%	200,000	$7,975,438
WHK	Whitehawk Limited	0.028	-20%	3,687,413	$11,832,475
ATH	Alterity Therapeutics	0.004	-20%	3,084,287	$21,913,774
MTL	Mantle Minerals Ltd	0.002	-20%	5,113,769	$15,493,615
PUA	Peak Minerals Ltd	0.002	-20%	10,814	$2,603,442
DRO	Droneshield Limited	0.76	-18%	7,252,248	$569,302,858
GTG	Genetic Technologies	0.1	-17%	7,500	$13,850,070
1MC	Morella Corporation	0.003	-14%	26,245	$21,625,798

The ongoing stoush between Cassius Mining (ASX:CMD) and the Government of the Republic of Ghana has inched forward, with a 3-person tribunal rejecting Ghana’s request for a stay of arbitration and signalling it will move ahead with proceedings. Cassius has made a claim for US$ 275 million as a consequence of Ghana’s alleged breaches of contract and statute.

Alterity Therapeutics (ASX:ATH) is down this morning in the wake of an after-the-bell half-yearly report that revealed the company has banked a $6,507,183 loss for the six months to December 2023, a 19% improvement on pcp.

Si6 Metals (ASX:SI6) is off 20% this morning, but the only news from there is a reshuffle in the boardroom, that sees Ian Kiers appointed Chair of the Board and Patrick Antonio Volpe appointed to the Board as a non-executive director, effective immediately in the wake of David Sanders resigning to pursue other interests.

WhiteHawk (ASX:WHK) has dropped this morning after its preliminary half-year report showed a US$2.8 million loss after income tax, which includes non-cash expenditures relating to depreciation and amortisation expense of US$53,000, share based payment expenditure of US$250,000 and provision for doubtful debt of US$171,000.