Global Petroleum Limited
Agreement to acquire Block 2011A offshore Namibia: Global Petroleum Limited’s (ASX: GBP) stock is going gangbusters today, soaring over 25% on 21st, September, 2018. A Petroleum Agreement has been signed by GBP to acquire Block 2011 A offshore Namibia and GBP will an 85% interest in the block as an operator. The interest in offshore Namibia has been boosted in the recent months which has been the motive for the firm to acquire Block 2011A which has been adjacent to the group’s current acreage. The group may possibly fulfil the obligations at a low cost when it comes to drilling activity by industry participants.
Rawson Oil and Gas Ltd
Takeover offer boosted the stock sentiment: Rawson Oil and Gas Ltd.’s (ASX: RAW) stock made an outstanding rally by over 46.2% on September 21st, 2018 on takeover interest from Lakes Oil. On 8th August 2018, Lakes Oil made an off-market takeover bid to acquire all of the fully paid ordinary shares in Rawson Oil and Gas Limited. The firm needs funding to bear the costs of drilling the Nangwarry-1 well as they do not have enough funds to meet its share of the costs of drilling the Nangwarry-1 well. If Lakes Oil would be the owner of Rawson, they would bear all ongoing costs for drilling of the Nangwarry-1 well so that further dilution of interests in the well is avoided. The firm’s Independent Directors would see that Lakes Oil is in a better position to raise such funds for Nangwarry-1 than Rawson due to the longer term reputation and experience that Lakes Oil has in raising capital in the Oil and Gas Sector in the Australian capital markets.
Targeting lucrative online apparel industry: MyFiziq Ltd.’s (ASX: MYQ) stock rose over 10.2% on September 21st, 2018 due to the firm’s strategy to enter the online apparel space which is rising exponentially with time conscious consumers wanting the convenience and delivery at their fingertips. The group sees a solid target market opportunity as they see firms financial return might suffer as they must allow sufficient consumer flexibility, such as the ability to buy multiple items to determine the best fit, and accommodate a smooth return of unwanted items. Accordingly, MyFiziq offers a seamless solution by offering the ability to dimension the consumer’s form across 64,000 data points. MyFiziq’s use of artificial intelligence and machine learning would assist the consumer in making better choices when choosing a garment size online, thereby facilitating a more positive customer experience.
Wolf Minerals Limited
Boosting capital position: Wolf Minerals Limited’s (ASX: WLF) stock rose over 2.9% on September 21st, 2018. The firm is going for funding from Resource Capital Fund VI L.P. (RCF VI) to support Wolf’s short-term working capital requirements until 28 October 2018. The firm got the initial tranche of £2 million from a further £4 million, secured priority loan (Priority Bridge Loan) under the amended and restated Bridge Facility. The initial £0.9 million of the £1.7 million were available from the cash balance which was earlier restricted for use on the noise and vibration management plan.
Magnetic Resources NL
Positive exploration results: Magnetic Resources NL’s (ASX: MAU) stock rose over 16.1% on September 21st, 2018. The firm’s Leonora–Laverton district is well endowed with large world-class gold deposits having over 34Moz (mined plus resources), second to the Kalgoorlie region in WA. Moreover, the group has been drilling and sampling at Birthday Patch (P53/1627–28) and Kowtah (P39/5594–5597, 5617). In the June 2018 quarter all rehabilitation was finished for all the drilling during 2017–18 with highlights being an intersection of 7m @ 4.5g/t from 5m in MHNRC048 at Hawks Nest5 (HN5), which is part of a 50m long zone within the Laverton field. RC drilling has enlarged this NW trending gold mineralised zone to greater than 250m.
First Growth Funds Ltd
Digital currency investments: First Growth Funds Ltd.’s (ASX: FGF) stock soared over 13.3% on September 21st, 2018. The firm announced that EQI got US$4M pre-ICO funding. EQI got its banking license which would deliver a range of banking services including banking and conversion of crypto currencies to USD. EQI would get more US$7M in funding. FGF SovereignCash tokens also raised US$2.25M for CryptoData Vault to further develop its hardware wallet and digital currency, SovereignCash. CryptoData Vault has developed a hardware wallet which would offer a fully compliant, secure and geo-fenced solution for trading digital currencies. Acudeen continues to grow with customers using its platform and with further new trading pairs and listing on new exchanges which would support the Acudeen token price.
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