2 Small-cap Stocks on the rise – ASX: GMV and ASX: CVN

  • Aug 08, 2018 AEST
  • Team Kalkine
2 Small-cap Stocks on the rise – ASX: GMV and ASX: CVN

With some key updates, two small-cap stocks have risen stupendously on ASX on August 08, 2018. These belong to diverse sectors and are below $1 in terms of stock price.

G Medical Innovations Holdings Ltd. (ASX: GMV), is an emerging healthcare company and is into mHealth and e-health solutions and has Smartphone G medical jacket and wireless vital signs monitoring system as some of its key products. For the proposed listing of its Chinese subsidiary on the main board of Hongkong stock exchange, G Medical engaged Global Investment Bank as advisors to the Initial Public Offering. As required by HKSE Listing Rules, initial market capitalization must be at least HK$1,500,000,000 or A$ 260 million. To retain not less than a 50% ownership stake in the proposed Hong Kong Stock Exchange-listed Guangzhou Yimei Innovative Medical Science and Technology Co., Ltd (GYIMSTC Ltd), a spin off from G Medical will be required. G Medical Parent Co. currently owns 70% of GYIMSTC Ltd.  The company was earlier under a trading halt pending the announcement. The G Medical’s stock last traded at a market price of $0.270 with a daily price change of $0.085 or 45.946% and has seen a performance change of -37.29% over the past 12 months. The market capitalization of the stock is $62.86 million.

Carnarvon Petroleum Limited (ASX: CVN) is an energy sector stock that has made additional oil discoveries in the Crespin and Milne Members of its Dorado-1 well with the Quadrant-Carnarvon Joint Venture. The results are in addition to those announced on 18 July 2018 and 24 July 2018, which follow the completion of the wireline evaluation. It has also been followed by further positive news from deeper drilling in the same well and results, point to a gas and condensate discovery deeper down than the Caley Member, in the Baxter Member structure, which contained the oil reservoir. It has reached 4.6 kilometers deep and the program is led by unlisted Perth-based Quadrant energy and the results are described as staggering by the head. It is something which can be stated as a game changer for Carnarvon. The Carnarvon’s stock was trading at a market price of $0.630 with a daily price change of $0.145 or 29.897% and has seen a performance change of 555.41% over the past 12 months. The market capitalization of the stock is $577.1 million.

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