8 Stocks hogging the limelight – GXY, MNS, AGY, RAP, 4CE, GGG, BUB and PLS

8 Stocks hogging the limelight

GALAXY RESOURCES LIMITED (ASX: GXY) – The company’s cash balance as of 1H 2018 is at $US45.1 million. Excluding the shipping revenue from the total, the revenue from sales of spodumene was $84.64 million for the period ending June 30, 2018, which decreased from $84.98 million in Dec 31, 2017. Because of an increase in the average realized price of US$90/dmt and a reduction in share-based payment expense of US$6.1m, the EBITDA increased from $29.137 million substantially over the preceding 6-month period to $42.377 million. The company expects the supply surge from two new Australian lithium mines and says it does not fear the same. Because of the fall in Chinese spot price by 30 percent for lithium carbonate with 99.5 per cent purity and due to concerns over the large amount of new lithium supply hitting the market, the stock price of GXY slipped -2.564% to $2.660 on 04 September 2018.

MAGNIS RESOURCES LIMITED (ASX: MNS) – Magnis Secures a $11.1m investment, for a 4.98% equity holding in Magnis by AL Capital who must invest $11.1m at $0.37 per share. The group announced that a placement was made at 4% premium to the 15 Day VWAP of $0.356 with regards to the above. The recently established subsidiary of Imperium3 Pty Ltd has received government approval of $3.1 million grant for Townsville battery plant study. The company is currently under the suspended status, Magnis was last trading at a market price of $0.375 and is trading near its 52-week low as at September 4, 2018 and has undergone a performance change of -8.54% over the past 12 months. The company has current cash and cash equivalents at the end of quarter June 30, 2018 of $1.553 million. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]

ARGOSY MINERALS LIMITED (ASX: AGY) – Argosy holds a current cash and cash equivalent balance of $8.101 million at the end of June 30, 2018 quarter. Argentina has decided to impose tax of 3 pesos per US dollar of export value on goods shipped by Argosy internationally. The company with a market capitalization of $257.18m, has achieved a significant milestone, after the confirmation of successful production of initial ‘battery grade’ specification LCE product from the Stage 1 plant at its Rincon Lithium Project, located in Salta Province, Argentina. Argosy was trading at a flat market price of $0.220 as at September 4, 2018 and has undergone a performance change of 69.23% over the past 12 months. As compared to the peers the company has a negative EPS of -0.019 AUD with no dividend history.

RESAPP HEALTH LIMITED (ASX: RAP) – Achieving a positive percent agreement (PPA) between 79% and 97% and a negative percent agreement (NPA) between 80% and 91%, ResApp’s algorithms performed very well, when compared to a clinical diagnosis. The company has announced positive top-line results. As announced by the company it reported a revenue in 2018 from ordinary activities of $87,007 which is down by 57% compared from the previous year in 2017 of $204,317. It also suffered a loss after tax which is 35% down from previous year of $6.53 million as a result there was no dividend declared by the board in the current or previous reporting period. Comparing better to the previous year loss of $1.53 per share, the disappointing performance led to the loss per share of $0.99. At the end of the year ResApp had cash and cash equivalents of $3.39 million. The stock was trading at $0.235, with the negative EPS of -0.009 AUD.

FORCE COMMODITIES LIMITED (ASX: 4CE) – Nearing completion with 3 of the 5 drill fences is the Phase 1 RC drilling program at the Kanuka Lithium Production Project. As at the end of quarter June 30, 2018 the company has cash and cash equivalents of $1.970 million. The company is into lithium exploration in DRC and exploration for gold and base metals in New South Wales. The official listing date was 2010 and the company is based in Kings Park Road, West Perth, Australia. Force commodities at its Kanuka Lithium Production Project provided an update on the Company’s current RC drilling activities. The Project is a Joint Venture between established Congolese tin and tantalum mining company, MMR (49%) and Force (51%). The stock was at $0.038 trading near its 52-week low and has undergone a performance change of 46.154% over the past 12 months.

GREENLAND MINERALS LIMITED (ASX: GGG) – Greenland under metals and mining sector holds cash and cash equivalents at the end of quarter June 30, 2018 of A$ 7.668 million. The technical optimization of the Kvanefjeld project has been driven by the Company’s major shareholder Shenghe Resources holding Co Ltd. The Kvanefjeld optimization program is expected to be completed in Q1, 2019. For both capital and operating costs significant reductions are anticipated. The company has a negative EPS of -0.003 AUD and has no dividend history. The stock was trading at $0.086 with a daily price change of -2.273% and has undergone a performance change of -20.00% over the past 12 months. It has a market capitalization of $97.35 million.

BUBS AUSTRALIA LIMITED (ASX: BUB) – The market capitalization of the stock is $295.81 million. Mr. Nicholas Simms is stepping down from his current role while Bubs Australia’s Founder and Managing Director, Mrs. Kristy Carr, who is stepping into the role Chief Executive Officer, following the successful repositioning of the business from a private entity to an ASX Top 500 All Ordinaries company. The company was seeking to raise $40 million, the offer price is 75c a share and the brokers asked for bids. Well received by the investors this comes only after Bubs Australia announced a deal, with local manufacturer Australia Deloraine Dairy and online giant Alibaba. The stock was trading at $0.680 with a daily price change of 1.493% and has undergone a performance change of 11.67% over the past 12 months. It has a market capitalization of $97.35 million.

PILBARA MINERALS LIMITED (ASX: PLS) – The company reported an improved consolidated loss of $19.42 million when compared to the FY 2017 loss of $25.95 million, for the year ended 30 June 2018. The directors recommended that no dividend be declared or paid during the current year. The company’s momentum builds for Stage 2 of the Pilgangoora Lithium-Tantalum project as US $15 million working capital and US $ 10 million foreign exchange hedge facilities are secured with globally recognized bank, BNP Paribas. PLS jumped 0.875% to $0.807 on 31 August 2018. The financial support from the Australian Government through NAIF will enable the company to improve the operations of the Pilgangoora Project by allowing increased haulage payloads to deliver product to market. As at the end of quarter June 30, 2018 the cash at bank stands at A$ 120 million.

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