What Made These 2 Small-Cap Stocks Rise-Up On ASX – SYR And ECX?

Syrah Graphite Production Beats Guidance; Shares Up 13% And Eclipx Announces SIA Termination, Shares Up 7.7%!

Syrah Resources Limited (ASX: SYR) today on 4th April 2019, has given the Q1 2019 preliminary update regarding the Balama graphite operations. As per the same, the graphite production for Q1 2019 came in at 48kt against the guidance of ~45kt, the sales volume for Q1 2019 came in at 48kt against the guidance of ~ 45kt to 50kt, the weighted average price achieved for Q1 2019 came in at the upper end of guidance of ~US$460 – US$470 per tonne, the cash as at 31 March 2019 came in at US$62 million against the guidance of ~US$55 – US$57 million. The overall Q1 2019 recovery was broadly consistent with the prior quarter at ~70%. Syrah’s Managing Director and CEO, Shaun Verner will host a conference call to discuss the Q1 2019 update on Monday 29 April 2019 at 10 am (Melbourne, Australia time).

On the stock-performance front, the stock has posted the YTD return of -22.48%. The company also has posted a return of -44.91% over the past six months. At market close on 4th April 2019, the stock of the company traded at a price of A$1.345, up 13.025% during the day’s trade with a market capitalisation of A$409.72 million. The stock opened the trading day at A$1.270, reached an intraday high of A$1.405, and touched an intraday low of A$1.250 with a daily volume of 20,161,848. It had a 52-week high price of $3.600 and a 52-week low price of $0.975, with an average volume of 3,962,929.

Eclipx Group Limited

Eclipx Group Limited (ASX: ECX) is an ASX listed company involved in vehicle and equipment funding, management and administrative business. The company serves customers in the geographical regions of Australia and New Zealand.

The company, today on 4th April 2019, has updated that the company and McMillan Shakespeare Limited have today decided to end the Scheme Implementation Agreement (SIA) dated 8th November 2018, with instant effect and to release one another from any dues relating to the SIA and the proposed scheme. MMS and the company have additionally agreed that the company will reimburse MMS for costs that MMS has incurred to-date in connection with the SIA and the proposed scheme in the amount of $8 million.

This payment to MMS equals to 1.8 cents per ECX share and will be financed from the operating cash flow. Excluding any unforeseen circumstances, the company expects to be compliant with its corporate debt covenants at the next relevant testing date, which is 30 September 2019. The company intends to release its 1H19 results on 24 May 2019, and will update the market in the interim in case if required.

On the stock-performance front, the stock has posted the YTD return of -67.51%. The company also has posted a return of -71.38% over the past six months. At market close on 4th April 2019, the stock of the company traded at a price of A$0.830, up 7.792% during the day’s trade with a market capitalisation of A$246.12 million. The stock opened the trading day at A$0.775, reached an intraday high of A$0.855, and touched an intraday low of A$0.765 with a daily volume of 18,233,988. It had a 52-week high price of $3.580 and a 52-week low price of $0.540, with an average volume of 4,563,894.


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