5 Momentum Plays – AQD, MEY, CNW, HRN and WHK

Momentum play

Few stocks under the micro-cap category trading under a price of $1 and gaining momentum are discussed herein. The wide variety of sectoral based selection makes them attractive bunch of stocks. Here are few of the stocks discussed:

AUSQUEST LIMITED (ASX: AQD) – Project in southern Peru, with drill access preparations for the 7-hole/3,500m program is now underway, the company has commenced preparations for the start of diamond drilling at the Cerro de Fierro Iron-Oxide Copper-Gold which is expected to begin in end of September 2018. Following receipt of funds from South32 for committed work program over Strategic Alliance Projects, as at the end of June 2018, the Company’s cash position was approximately A$4.5M. The stock closed at a market price of $0.020 as at September 14, 2018 and has noted a performance change of -29.17% over the last 6 months. The group has no dividend declared in the past and has earnings per share (EPS) of -0.002 AUD.

MARENICA ENERGY LTD (ASX: MEY) – The cash and cash equivalents at end of quarter June 30, 2018 is at A$848,000. With the aim of applying U-pgradeTM to their projects the Company continues to engage with other resource owners. Covering approx. 2,692 hectares within the Erongo uranium province in Namibia, Marenica energy acquired the Mile 72 Uranium Project, which is a highly prospective advanced exploration project. The stock was last trading at a market price of $0.125 as at September 14, 2018 and has noted a performance change of -4.55% over the past 12 months. The group has no dividend declared in the last 5 years and has earnings per share (EPS) of -0.037 AUD. 

CIRRUS NETWORKS HOLDINGS LIMITED (ASX: CNW) – The company reported a record revenue of $76.1 million which is up 41% on the prior year FY 17 which was $53.9 million. For the FY18 year it posted a strong operating cashflow of positive $1.3m. Record Statutory NPAT $2.8m underlying NPAT of $814k. The company recorded a NPAT of $2.8 million, it demonstrates ongoing success in delivering against Cirrus’ strategic plan and its expansion on Australia’s east coast. The Company had a cash balance of $5.26m, as at 30 June 2018 and has a positive $4.43m net of debt. The stock has undergone a performance change of -19.05% over the past 12 months and was trading at a market price of $0.020. The group has no dividend declared in the last 5 years but has a P/E of 5.00 and has earnings per share (EPS) of 0.003 AUD.

HORIZON GOLD LIMITED (ASX: HRN) – The current enterprise value as of end of financial year is $4.4 million. The cash and cash equivalents at end of quarter June 30, 2018 is at A$7.1 million which is ensuring a strong balance sheet to provide the evaluation of other development opportunities and fund exploration at Gum Creek. The current market capitalization stands at $11.5 million. To test the Butcherbird Shear and Swan Premium Lode, twelve-hole diamond drill program intersected high-grade gold mineralization. The stock has undergone a performance change of -57.14% over the past 12 months and was trading at a market price of $0.150. The group has no dividend declared in the last 5 years and has earnings per share (EPS) of -0.705 AUD.

WHITEHAWK LIMITED (ASX: WHK) – The revenue from continuing operations changed from $23,163 in June 30, 2017 to $240,526 in June 30, 2018 reflecting a change of 938%. However, the net loss was of ($1,663,078) due to which the company did not propose to declare any dividends during the current year or the previous year. The cash and cash equivalents at end of quarter June 30, 2018 is at $1,275,936 with no debt facility, the company represents a healthy balance sheet status. The stock has undergone a performance change of -71.33% over the past 6 months and was trading at a market price of $0.050 which is close to its 52-week low ($0.040). The group has no dividend history in the last 5 years and has earnings per share (EPS) of -0.032 AUD.

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