The Australian shares closed higher and are above the 5600 level after the positive outlook on trade negotiations and gains are supported by the banks as the rate hikes forecast are delayed to 2020. The five most discussed stocks today as of December 12, 2018, are as follows:
RESONANCE HEALTH LIMITED (ASX: RHT) – The company noted the recent intraday price high and increase in volumes of shares traded after the clearance from the US Food and Drug Administration which allows Resonance Health to market FerriSmart® for commercial distribution in the United States of America. The company has a very high P/E of 161.670 while the EPS is at around 0.001 AUD which implies the future growth of the company. Up by 16% from the previous year’s result, the receipts from customers were $2.65m. The revenue is at around $855k as of September 2018 which is a growth of 31%. The stock price, however, went down by 10.309% to $0.087. The stock witnessed a 288% surge in the performance in the past 12 months.
BIOTRON LIMITED (ASX: BIT) – To bring the current cash balance to $7.1 million, the market in early December 2018, the exercise of the 30 November 2018 options has raised a total of $4.7 million. With a sound financial position resulting from this significant injection of funds and the positive data from the Phase 2 HIV?1 clinical trial in hand, the company ends 2018 in a strong position. The company has a market capitalization of $71.03 million with a negative EPS of -0.004 AUD. The accumulated loss increased as per the balance sheet which indicates that the shareholder’s equity diluted leaving a negative impact on the shareholders. The stock price traded flat at $0.130. The stock witnessed a 430% surge in the performance in the past 12 months.
GALAXY RESOURCES LIMITED (ASX: GXY) – The company has provided an exploration update for its Mt Cattlin Project at Ravensthorpe, Western Australia with approximately 25,555m of grade control and resource development drilling in 543 new drill holes. To target infill in the northwest and northeast parts of the Mt Cattlin orebody as well as support mining approvals to extend mining operations east of Floater Road was the drilling objective. The company has a market capitalization of $978.06 million at the current prevailing market price. The stock price traded up by 5.833% at $2.540. The stock witnessed a -29.82% decline in the performance in the past 12 months.
TNG LIMITED (ASX: TNG) – At the instruction of the company the share of the company will be placed in a trading halt. The company has now been granted mount Peake Vanadium Titanium-Iron Project in the Northern Territory as they recently confirmed that the Access Authorities covering the mine site and associated infrastructure for its flagship 100%-owned. Progressing towards the development of its 100% owned world class Mount Peake Vanadium-Titanium-Iron Project TNG is an Australian resources company. The company has a market capitalization of $90.34 million at the current prevailing market price. The stock price traded flat at $0.094. The stock witnessed a -27.69% decline in the performance in the past 12 months.
BIRIMIAN LIMITED (ASX: BGS) – The company has 666% of a significant increase in the mineral resource in the last 20 months. The company’s Goulamina lithium project which is a globally significant lithium asset along with Massigui Gold Project and Dankassa Gold Project. As at the end of June 30, 2018, the cash and cash reserves are at A$4.8 million with no debt reflects the company’s strength on the balance sheet front. The market cap as on June 30, 2018, was at A$ 63.07 million. The stock is under the suspended status and last traded at $0.200. The stock witnessed a -49.37% decline in the performance in the past 12 months.
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