The following stocks caught investors’ eye today as they announced their respective quarterly updates for three months to March 31st, 2019.
Elmo Software Limited
Elmo Software Limited (ASX: ELO), based in Sydney, offers software-as-a-service (SaaS), cloud-based human resource and payroll solutions for organizations in Australia, New Zealand, and Singapore. The company’s current market valuation stands at around AUD 359.79 million with ~ 63.23 million outstanding shares. On April 24th, 2019, the ELO stock settled the market session at AUD 5.50, down 3.34% with ~ 52,297 shares traded.
Today, Elmo Software released its Quarterly Report for the three months to March 31st, 2019, including operational and financial results for the period. Accordingly, the company accelerated its long-term growth strategy by continued investments into product development and additional revenue resources with a closing cash balance of $ 26.5 million. There was a strong growth in cash receipts of $ 9.5 million, up 29% on the prior corresponding period (pcp).
Besides, the company completed acquisitions of HROnboard and BoxSuite on January 31st, 2019 and its total addressable market opportunity has grown to over $ 1.7 billion since June 2017.
Bligh Resources Limited
Bligh Resources Limited (ASX: BGH), a subsidiary of Zeta Resources Limited is based in Fremantle and engaged in the exploration and evaluation of gold projects in Australia. Bligh’s current market valuation stands at AUD 19.44 million with ~ 285.91 million outstanding shares. The BGH stock last traded on February 25th, 2019 at AUD 0.068.
On April 24th, 2019, the company released its March 2019 Quarterly Report including details on various activities completed at its 100% owned flagship property Bundarra Gold Project near Leonora in Western Australia. During the period, the company completed an internal Conceptual Underground Mining Study which confirmed the potential for economic exploitation of the Wonder North Deeps lode. Besides, the internal evaluation & prioritisation of advanced exploration targets was also accomplished, and the company received work approvals for a further seven diamond holes to test mineralisation to a depth of 500 metres at the site.
Bligh Resources closed the quarter with net cash and cash equivalents of AUD 60K, down on AUD 86K in the previous quarter.
Kingsgate Consolidated Limited
Kingsgate Consolidated Limited (ASX: KCN), based in Sydney, Australia, is engaged in the exploration, development, and mining of gold and silver mineral properties. Its flagship asset is the 100% owned Nueva Esperanza gold-silver project situated in the Atacama region of northern Chile. With around 226.23 million outstanding shares, the KCN stock closed the market trading at AUD 0.265, down 1.85% on April 24th, 2019. KCN’s YTD return also stands positive at 50%.
Kingsgate Consolidated released its Quarterly Report for the period ended March 31st, 2019 as per which the company settled Political Risk Insurance proceedings for more than AUD 82 million during the three months. Also, Investec Australia Finance Pty Limited agreed to increase the AUD 15.0 million Standby Loan Facility to AUD 22 million and later by a further AUD 750K. Kingsgate has drawn down only AUD 400,000 to date and closed the quarter with cash of AUD 0.2 million with a corporate debt of AUD 22.4 million.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.