As the heavyweights on the ASX tumbled and a huge amount of losses were driven by financial, material and energy stocks. Some of the stocks came under scanner of investors and was discussed for one reason or the other. Let’s see these stocks in brief.
AUSTRALIAN MINES LIMITED (ASX: AUZ) – The company Norwest Minerals Limited subsidiary of AUZ expects to finalize the issue and allocation of 33,000,000 shares under the Offer in the week commencing 19 November 2018 with holding statements issued shortly thereafter. Also, the company released further positive results from the company’s resource extension drilling program at its Sconi Cobalt-NickelScandium Project. The company announced the progress from its research and development project with Metalysis, the U.K. headquartered metals and alloys technology company. The earnings per share (EPS) of the stock is -0.002 AUD reflecting restrained profitability. The stock price surged by 7% or by $0.004 to $0.060 as at November 14, 2018. The stock has seen a performance change of 50.78% since the inception. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
BIRIMIAN LIMITED (ASX: BGS) – There has been a 666% increase in Mineral Resource in last 20 months. Birimian is well advanced in its application process for two adjoining tenements, which on granting would treble the area of highly prospective territory available for exploration. Funds received on exercise totaled A$1,008,000. The company’s wholly-owned subsidiary, Timbuktu Resources SARL has formally lodged the Environmental and Social Impact Assessment report for the Goulamina Lithium Project. The cash and cash equivalents at the end of the financial year was $4.908 million which signifies a decent balance sheet of the company. The stock price traded flat at $0.200 as at November 14, 2018. The stock has seen a performance change of 16.17% since the inception.
ANSON RESOURCES LIMITED (ASX: ASN) – The company has announced the drilling of two wells Skyline Unit 1 and Long Canyon No2 which enables the company to prove up a JORC compliant resource and they can also be considered as potential production wells. The net loss attributable to equity holders of the parent for the year ended 30 June 2018 was $4,354,151 compared to 2017 loss of $1,744,915, of which $2,185,962 compared to 2017 of $812,795 was spent on exploration and evaluation activities and $395,854 compared to 2017 of $341,362 was incurred in acquiring projects. Cash on hand at 30 June 2018 totaled $1.7 million compared to 2017 cash of $0.5 million. The stock price surged by 16.25% or by $0.013 to $0.093 as at November 14, 2018. The stock has seen a performance change of 205.55% over the past 60 months.
ARGOSY MINERALS LIMITED (ASX: AGY) – An upgraded JORC Code (2012) was announced by the company compliant Indicated Mineral Resource estimate for its Rincon Lithium Project. Argosy has a current 77.5% interest in the Rincon Lithium Project. The Rincon Lithium Project is the flagship asset in Argosy’s lithium development strategy, and is located in Salta Province, Argentina. In the current period the company reported a net loss of $ (1,668,972) hence no dividends have been declared, provided for or paid just like previous period. At the end of the financial period the cash and cash equivalents were of $7,336,762 with no debt on the balance sheet represented healthy financial position. The stock price declined by 4.167% or by $0.010 to $0.230 as at November 14, 2018. The stock has seen a performance change of 726.45% since inception.
AFTERPAY TOUCH GROUP LIMITED (ASX: APT) – The revenue and other income were up by 390% to $142 million which resulted to EBITDA increasing 468% to $34 million and the company represent strong financial performance in turn lowering Afterpay losses. The company achieved underlying sales of over $2.82 billion while the Q4 underlying sales annualized to approximately $3 billion. It has made some key business developments in both the US and Australia / New Zealand markets. The company is investing for sustainable growth and lifetime customer value. The company announced on 2 October 2018 the sale of its European e-Services business to Nelumbo Limited for which it has received cash proceeds of $4.0 million at completion and will receive the remaining $3.5 million within six months of completion. The stock price declined by 1.787% or by $0.210 to $11.540 as at November 14, 2018. The stock has seen a performance change of 335.19% since inception.
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