The ASX opened higher which was driven by the modest gains from the major banks and big miners. With markets, i.e., S&P/ASX 200 crossing the 5600 level and all ordinaries above the 5700 level, four stocks came in the front after a rise on ASX. Let’s look at all four of them.
FLINDERS MINES LIMITED (ASX: FMS) – Equal to the 30-day VWAP of shares sold on the Australian Securities Exchange up to and including the closing price on 12 December 2018, the price that will be paid to shareholders for each share sold through the unmarketable parcel’s sale facility will be $0.075 per share. Following the end of the financial year, the company undertook a non-renounceable entitlement issue, raising $8.275 million and were used to repay a $5 million unsecured loan from PIO Mines Pty Ltd a subsidiary of their major shareholder, TIO Limited. The flinders mines limited surged up by 40% or $0.014 and traded at $0.049. The company since inception has witnessed an attractive return of 51.08%.
EQUUS MINING LIMITED (ASX: EQE) – The company has finalized the appointment of Mr. John Braham as executive director and the resignation of Mr. Edward Leschke, effective November. The company issued 1,281,727 new ordinary shares by the exercise of 1,281,727 unlisted options on 1 May 2018, at an exercise price of $0.02 per option raising $25,634 before costs. The loss attributable to members of the company for the year was $1,997,302 in 2018 while in 2017 loss was of $899,548. The company has cash and cash equivalents of $658,568 as on June 30, 2018. The stock price surged up by 42.857% or $0.006 and traded at $0.020. The company since inception has witnessed a return of 7.69% in the last one week.
ENVIROSUITE LIMITED (ASX: EVS) – To provide a city-wide odor monitoring and management system the company has to announce a material contract win about a smart-cities project with the Kuwait Environment Public Authority. It adds $265,000 to the Group’s Annual Recurring Revenue (ARR). To see the group through to cash flow break-even over the next two years the gross proceeds of $10m raised across the two-tranche capital raise are anticipated. The company will continue to achieve 100% growth in ARR in the following financial year and has set a target to reach a figure of $6.0 million ARR by the end of June 2019. The stock price surged up by 15.385% or $0.008 and traded at $0.060. The company has witnessed a return of -14.75% in the last six months.
CRATER GOLD MINING LIMITED (ASX: CGN) – The company has announced an eleven for two entitlement offer of up to 1,537,056,263 fully paid ordinary shares at an issue price of 1.5¢ per new share to raise approximately $23.056 Million before cost. The group incurred a lower loss of $5,739,906 for the year ended 30 June 2018 as compared to the 2017 loss of $25,284,741. However, no dividends of the company or any entity of the Group have been paid, declared or recommended since the end of the preceding year. The stock price traded up by 25% or $0.003 and traded at $0.015 almost at its 52-week low. The company has witnessed a return of -25.00% in the last six months.
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