The below-mentioned stocks witnessed a decline in their share prices during the intraday trade today. Let's take a closer look at these stocks-
Broo Ltd (ASX: BEE)
Broo Ltd (ASX: BEE) is primarily involved in the production of packaged beer in both Australia and China.
For the half-year ended 31 December 2018, the company reported revenues from ordinary activities of $1,667,922, up 28.1% on the previous corresponding period. Further, the company reported a loss from ordinary activities of $1,853,106, down by 16% on pcp. As per the update published on 30 April 2019, the company is expecting to have negative operating cash flows in the short term. The company believes that additional short-term funding will be required to continue to fund operating activities.
The Company via its wholly owned subsidiary Broo Brewery Pty Ltd (Broo Brewery) is currently involved in the development of a world-class, environmentally sustainable brewing facility, the “World’s Greenest Brewery” which will enable the Company to realise opportunities both in national and international markets.
During the March quarter, the company paid A$284,000 for product manufacturing and operating costs and received $1,392,000 as receipts from the customers, taking net cash inflow from operating activities in March quarter to $45,000. As at 31 March 2019, the company had cash and cash equivalents of $169,000.
In the past six months, the share price of BEE decreased by 67.06% as on 7 May 2019. With around 618.25 Million outstanding shares and a market capitalisation of ~ 17.31 million, the BEE stock closed the market trading at AUD 0.025, down 10.714% during day’s trade as on 9 May 2019.
Hot Chili Limited (ASX: HCH)
Leading Copper developer, Hot Chili Limited (ASX: HCH) recently confirmed near-Surface enrichment at the Cortadera copper-gold porphyry discovery in Chile. In an announcement made on 9 May 2019, the company announced that early results from first five shallow Reverse Circulation (RC) holes are confirming the company’s view of Cortadera as a major new copper-gold porphyry discovery.
Highlights from the first five shallow RC holes include:
- 20m grading 1.2% copper and 0.5g/t gold) from 40m depth
- 68m grading 0.7% copper and 0.1g/t gold from 58m depth
- 22m grading 0.7% copper and 0.4g/t gold from 26m depth
- 6m grading 1.1% copper and 0.4g/t gold) from 52m depth
- 72m grading 0.5% copper and 0.3g/t gold from surface
These results are confirming the potential for Cortadera to host significant zones of higher-grade copper associated with chalcocite enrichment in the near-surface profile of the deposit.
During the 2019 March quarter, the company executed option agreements to acquire a major copper-gold porphyry discovery, named Cortadera, which lies 14km from the Company’s large-scale Productora copper development along the Chilean coastal range.
In the past six months, the share price of HCH decreased by 81.81% as on 8 May 2019. With around 193.6 million outstanding shares and a market capitalisation of ~ 33.38 million, the HCH stock closed the market trading at AUD 0.029, down 3.333% during day’s trade as on 9 May 2019.
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