Northern Cobalt Limited (ASX:N27) is in the business of acquiring, exploring and developing of cobalt mineral projects in Australia. The Wollogorang Cobalt Project of the company is in the far north east corner of Northern territory.
The company’s stock price advanced by 12.5 percent on 19 September 2018 after the recent announcement of growth in the copper mineralization with the GregJo Fault. This discovery of copper fits with the company’s strategy of adding resources close to the existing deposits. Company has begun testing the extensive prospective rocks. The mineralized envelope is now extended to more than 400m along strike of the Gregjo fault. The copper mineralization is appearing to be associated with two structures within the Gregjo Fault. Higher grade copper is occurring adjacent to and within the interpreted fault structures. Vertical RAB drilling is facing difficulty in intersecting these zones but once the lateral extent of mineralization is defined, deeper angled slim-line RC drill holes could be used to target the high-grade mineralization in conjunction with results from the planned IP Survey. Lower grade mineralization extents laterally from the fault structures within shallow dipping, siltstones and pyritic sandstone. This style of mineralization is having many similarities with Aeon metals walford creek cu-co deposit which is around 90km to the south-east. At the depth of some holes, Sulphide mineralization has also been identified. A geophysics survey is planned along with the subsequent deeper drilling. The positive results have promoted the company to expand the drilling program. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]
For the year ending 30 June 2018, the loss from continuing operations attributable to owners was $1.12 million which was $0.29 million in the previous year. The basic and diluted loss was 3.17 cents per share in FY 2018 which was 3.26 cents per share the previous year. Company is holding cash and cash equivalent of $3.9 million at the end of FY 2018 which was $0.327 in the previous year.
N27’s share price was at $0.135 at market capitalization of $6.1 million as on 19 September (AEST 6:15 PM).
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.