Latest with 3 Resources Stocks – KOV, N27 and WEL

Korvest Ltd (ASX: KOV)

Korvest Ltd recently announced the half year results for the period ended 31 December 2018 with net profit attributable to members of the company being almost doubled compared to the previous corresponding period.

As per the half-year financial report, Korvest Net profit attributable to members of the Company increased to $1.14 million in 1H FY19, up from $0.54 million in 1H FY18. The Board of Directors of Korvest Ltd announced a fully franked interim dividend of 9.0 cents per share for the half year ended 31 December 2018.

For Fiscal 2019, the company expects an improvement in activity level for the second half of Fiscal 2019 compared to the first half. The company places an optimistic outlook due to the supply of the major infrastructure project that is expected to span the whole of the second half rather than just one quarter as was the case in the first half. 

KOV is trading at A$2.80 as on 29 January 2019. Over the past 12 months, KOV stock price has fallen by 11.20%.

Northern Cobalt Limited (ASX: N27)

During the December quarter 2018, Northern Cobalt has staked 48 mineral claims over a Snettisham Vanadium Project located in southwestern Alaska. The Company was able to acquire 100% of the project by simply pegging the ground, resulting in a very low-cost acquisition.

In its global search for a new vanadium project, the company identified the potential for large scale mineralization and its unique position regarding fundamental infrastructure requirements such as cheap electricity, transport options and proximity to the mining town of Juneau in southern Alaska.

The company said that Historical samples of magnetite-rich rock chips show potential for high-grade vanadium with values up to 0.56 V2O5. These values are expected to increase significantly in magnetite concentrates.

N27 is trading at A$0.072 on 29 January 2019. The stock has witnessed a negative performance change of 85.88% over the past 12 months.

Winchester Energy Ltd (ASX: WEL)

Winchester Energy Ltd announced that McLeod lease, comprising 4,246 acres, has been identified in good standing by the owner of the lease. The company told that the McLeod lease incorporates the already identified El Dorado prospect which is scheduled to be drilled in the early part of this year. However, the response from the owner of the Arledge lease is pending, told Winchester.

In the quarterly report for the period ended 30 September 2018, the company posted total revenue of US$224,206 with total oil revenue of US$211,363 and total gas sales revenue of US$12,843.

Further, the company stated that the aggregate gross Prospective Resource is 7.796 million barrels of oil, provided oil and productive reservoir targets are present in its three drilling prospects. It includes the El Dorado, Mustang and Spitfire prospect, all occurring within the Company’s 17,000-acre leasehold position.

WEL is trading at A$0.020 on 29 January 2019. Over the past 12 months, the stock has witnessed a negative performance change of 74.72% including a plunge of 28.91% seen in the last three months.


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