2 Small-Cap Stocks OGX And FIN On The Downturn While GAS Share Price Gone Up

  • Nov 20, 2018 AEDT
  • Team Kalkine
2 Small-Cap Stocks OGX And FIN On The Downturn While GAS Share Price Gone Up

Orinoco Gold Limited (ASX: OGX)

The share price of OGX tumbled down by 20% and by the end of the day, the market price of the share was A$0.012. This fall in the share price is considered close to the 52 weeks low price. Early this morning when the market opened, the share price was trading at A$0.014 which was also the day’s high price. The price has gone as down as A$0.011 which is recorded as 52 weeks low price. This result was the announcement made by the company that it is raising $1.18 million through a share placement and convertible loans. Further, in the announcement, it was highlighted that its only mill Gekko gravity is continuously producing low grade and tailings. For this reason, the company had to re-introduce 2 smaller hammer mills of 200kg/hour and 400kg/hour in order to process the high-grade ore. A further announcement was made for the suspension of trading the securities till the company makes an announcement in regard to capital raising. 

As per the chart, the MACD line is below the signal line and taken a slight downward movement. There are chances that prices may further go down.

FIN Resources Limited (ASX: FIN)

FIN also experienced a sudden fall in the share price by 22.22% since morning. By the end of the day, the market price of the share was A$0.014 which is recorded as the 52 weeks low price. The opening price, close price, day high and the day low price remain the same. This indicates the occurrence of dogi which represents that the market is highly uncertain. This could be one of the reasons for the downfall of the share price. The market capitalization was A$5.25 million as at November 20, 2018.

The performance of the company remains negative since inception. The 1 year, 5 years and 10 years performance of the company was -10%, -14.29% and -51.79% respectively. For the past 5 days, the performance of the company was 5.88%.

State Gas Limited (ASX: GAS)

Since last 3 days, there was uncertainty in the market due to the occurrence of doji. However, once the market opened this morning there was an increase in the share price by 1.667%. which is equivalent to the 0.005 points. The opening price of the share was A$0.270. It went as high as A$0.310 and finally closed at A$0.305. The market capitalization was A$40.44 million. There was also recent update announced in regard to the Primero West-1 well at the Reid’s Dome Gas Project PL 231 which come across gas within 134 meters of the cattle Creek formation.

The performance of the company since its inception remains negative. The 1-year performance of the company was -14.29%. Since last 3 months, there is a positive performance seen in the company. The 3 months performance of the company was 36.36%. Last month, the performance of the company was 42.86%.


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