The resources sector has been performing well lately, and the production is increasing amid the rising global demand, though the prices are impacted lately by political turmoil in Europe and US-China trade war issues. However, the international market for resources can be pulled up by demand from China and global mine output. Here are three resources sector stocks.
RAMELIUS RESOURCES LIMITED (ASX: RMS) – The company has declared its offer for all the ordinary shares in Explaurum Limited Explaurum Shareholders will receive one Ramelius Share for every Explaurum Shares held plus A$0.02 cash for every Explaurum Share held. The group’s Quarter-to-date production of 33,786 ounces (October & November only), on track for Quarter Guidance of 48-52,000 ounces. The cash and gold on hand were a record A$103.4M as at 1st December 2018. Compared to A$25.1 million in 2017, the company reported a fourth consecutive annual profit before tax of A$45.5 million. The stock price was down by -4.706% at $0.405 due to the overall market plunge. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
GOLD ROAD RESOURCES LIMITED (ASX: GOR) – The company reports receipt of positive assay results from reverse circulation, diamond, and regional air-core drilling from the 2018 exploration programmes on the 50% owned Gruyere Joint Venture and Gold Road’s 100% owned Yamarna Project. Loss after tax for the company for the six months ended 30 June 2018 was $2.3 million while the net loss before income tax for the six months ended 30 June 2018 was $3.0 million. At the end of the June 30, the company had total current assets of $163.7 million including cash and cash equivalents of $160.4 million, and current receivables of $2.5 million. The stock price was up by 3.39% at $0.610 due to positive production results.
METALS X LIMITED (ASX: MLX) – At the Renison Tin Operation in Tasmania the company has provided an update on the ongoing resource definition drilling programs in Area 5 and Leatherwood Trend targets, and there are excellent drilling results with 33 drilling holes. Renison is 50% owned by Metals X through the Bluestone Mines Tasmania Joint Venture. The company’s cash flows used in investing activities was $38,889,357, which was lower than the previous period in 2017 of $122,637,730, mainly due to the demerger or the Gold Division. The consolidated total loss in 2018 was of $26,297,186 as compared to 2017 profit of $134,012,244 due to losses in the copper division. The stock price traded flat at $0.390 with results in line with the expectations.
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