A Look At Latest Trading Halts- FEX, ARV, E2E And SAS

A Look At Latest Trading Halts- FEX, ARV, E2E And SAS

Fenix Resources Ltd (ASX: FEX)

On Monday, Fenix Resources Ltd. pressed the pause button on the Australian Securities Exchange. The company informed that its securities had been placed in a voluntary trading halt pending the release of significant drill assay results.

This trading halt is expected to remain in place until the earlier of 6 February 2019 or the release of a pending announcement.

Fenix Resources Ltd is a base metal, iron, and precious metals explorer. Its flagship project includes the Beyondie Iron Project, located adjacent to  Goldfields Gas Pipeline in the northern part of Western Australia.

FEX last traded at a share price of $0.048 with a market capitalization of $10.22 million. The stock has massively gone up by 220% over the past 12 months including a positive momentum of 33.33% in the past three months.

Artemis Resources Limited (ASX: ARV)

Artemis Resources’ stock has entered a trading halt on Monday, 4 February 2019. The stock last traded at $0.085 at a Price to Earnings multiple of 3.830 x with a market capitalization of $55.15 million.

The company explained that the trading halt was necessary as the finalization for a change to the structure and responsibilities of the Board and management team is underway.  And therefore, the trading halt will reportedly be removed on the announcement of final restructuring or 6 February 2019, whichever falls earlier.

ARV has witnessed a negative performance change of 61.36% over the past 12 months and yielded a negative return of 37.04% over the past three months.

Eon Nrg Limited (ASX: E2E)

Energy sector company Eon Nrg Limited today announced a trading halt of its securities pending the announcement on a proposed capital raising via renouncement right issue.

The trading halt comes after the recently released quarterly results under which the company reported solid oil and gas production in the fourth quarter’18 driven by the two workovers carried out in Q3-18 at the Borie Field, DJ Basin, Wyoming.

During the quarter, the company has also received the executed leases from the Bureau of Land Management (BLM) for 15,000 acres in the Powder River Basin, Wyoming. The leases were reportedly financed from existing cash reserves of the company. As at 31st December 2018, Eon’s cash balance stood at A$1.655 million.

It has been reported that the trading halt will remain in place until the earlier of 6 February 2019 or the release of an announcement as stated above.

E2E last traded at $0.013 with a PE multiple of 2.30x and a market capitalization of $5.28 million. The stock has gone up by 30% over the past 12 months.

Sky and Space Global Ltd. (ASX: SAS)

Sky and Space Global Ltd, a developer of a narrow-band communication network based on Nano-satellite, requested ASX to place its securities in a voluntary trading halt on 4 February 2019. The company stated that halt in on-market trading of SAS shares had been requested due to the pending announcement on capital raising.

Subsequently, ASX granted the halt and stated that SAS securities will remain in the trading halt until the earlier of 6 February 2019 or the release of a pending announcement.

SAS last traded at $0.054. The stock price has fallen by 68.24% over the past 12 months.


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