What To Look At In Platina Resources’ And Cokal’s December Quarter Cashflow Results

PGM

Platina Resources Limited

On 31 January 2019, Platina Resources Limited (ASX: PGM), a metals and mining exploration company, has announced its Consolidated Quarterly report. As at 31 December 2018, the Company’s cash balance was A$ 2,447,000, representing a decrease from the cash balance of A$ 2,545,000 from the previous quarter.

December Quarter Update: The company’s interest received for the December quarter stood at AUD 7,000 and for the year to date (6 months) it amounted to A$ 21,000. The company’s other research & development refund for the December quarter stood at ~AUD 1.11 million. The company’s reported administration and corporate costs, exploration & evaluation, and staff costs for the December quarter stood at A$ 252,000, A$ 799,000, A$ 163,000 respectively, whereas the same were reported to be as A$ 495,000, A$ 2,044,000, A$ 283,000, respectively for the year to date.  

For the March quarter, the company is anticipating to post staff costs, administration and corporate costs, and exploration & evaluation costs amounting to AUD 175,000, AUD 250,000, AUD 600,000 respectively. So total estimated cash outflows will be A$ 1,025,000.

The company has also announced that the Definitive Feasibility Study on Platina Scandium Project has been completed. The company has further mentioned its Master alloy development test work, which demonstrates that a 2% scandium-aluminium alloy can be produced from high-purity, PSP scandium oxide.

Looking at Platina Resources Limited’s stock performance and the return it has posted over the last few months, the stock has generated a positive return of 36.67% during the past three months. It is currently trading at $0.077 (at the close of the market on 31 January 2019). The company has approx. 264.13 million shares outstanding with the market capitalization of circa $21.66 million. The 52-week high and low for PGM are marked at $0.160 and $0.052 respectively.

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Cokal Limited

On 31 January 2019, Cokal Limited (ASX: CKA), is into metals and mining, and is a coal exploration company, which lately announced its Consolidated Quarterly report. As at 31 December 2018, the Company’s cash and cash equivalents amounted to USD 99,000 representing a decrease from the cash balance of USD 101,000 from the previous quarter.

December Quarter Update: The company’s reported production, administration and corporate costs, and staff costs for the December quarter stood at USD 100,000, USD 351,000, USD 356,000 respectively, whereas the same were reported as USD 347,000, USD 512,000, USD 730,000 respectively for the year to date.

The company posted proceeds from issues of shares for the quarter which stood at USD 115,000.

For the March quarter, the company expects to post the administration and corporate costs, and staff costs amounting to USD 350,000, and USD 250,000 respectively. So, the total estimated cash outflows will be USD 600,000.

The company has also announced its quarterly result for the three months ending 31 December 2018. The company has provided its project status. No exploration activity in the BBM project, TBAR project, BBP Project, and AAK project was conducted by the company during the December quarter. The company is planning to develop a plan for mining operations in BBM.

Looking at Cokal Limited’s stock performance and the return it has posted over the last few months, the stock has generated a positive return of 67.57% during the past six months. It is currently trading at $0.057 (down over 8% at the close of the market on 31 January 2019). The company has approx. 751.22 million shares outstanding with the market capitalization of circa $46.58 million. The 52-week high and low for CKA are marked at $0.065 and $0.031 respectively.


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