2 Stocks On The Upswing – MXC and SOR

  • Oct 11, 2018 AEDT
  • Team Kalkine
2 Stocks On The Upswing – MXC and SOR

Two stocks from diversified sectors like health care and financials are surprisingly doing well in the falling market and should be under the investor’s watchlist. Both recorded a double-digit spike as at October 11, 2018. The two stocks in green are discussed herein which have denied to be bogged down by the market jitters.

MGC PHARMACEUTICALS LIMITED (ASX: MXC) – To prescribe its product CannEpil in Australia under the Authorized Prescriber Scheme, MGC Pharma a Medical cannabis biopharma company announced today a number of prescribing specialist neurologists have received formal authorization. The company has the all-important tick of approval from the Therapeutic Goods Administration (TGA). From the estimated starting base of under 100 patients, MGC expects to generate in excess of $1 million in annualized revenue, but health experts see an even bigger opportunity. For drug-resistant or refractory epilepsy, which accounts for about 30 per cent of all epilepsy cases CannEpil is an orally-administered medical cannabis treatment. The revenue has increased substantially from $120,242 which is up by 146% to $296,811 as at June 30, 2018. The cash and cash equivalents at the end of year has been $9.86 million with no debt, as at the end of financial year representing healthy balance sheet. The stock of MGC Pharmaceutical limited gained 31.373% to a market price of $0.067, the stock has undergone a performance change of 21.43% over past 1 year.   

STRATEGIC ELEMENTS LIMITED (ASX: SOR) – The consolidated entity’s loss for the year ended 30 June 2018 was $1,024,404, compare to the year ended 30 June 2017 $2,665,648. The consolidated entity had $4,280,715 in cash and term deposit balances, as at 30 June 2018 compared to 30 June 2017 of $5,095,287. No dividends have been paid or declared since the start of the financial year and the directors do not recommend the payment of a dividend in respect of the financial year. Cash and cash equivalents at end of the year, were at $4.28 million as at the end of financial year and the company has no debt and can be used in the cash management function on a day to day basis. Buried in remote Western Australian deserts within two large unexplained multi-ringed magnetic ring features, it is pleased to announce that geophysical surveys have identified large dense bodies of material (gravity anomalies). To secure two areas prospective for conglomerate hosted gold near Marble Bar in East Pilbara, Western Australia, Strategic Elements announced that Maria Resources (100% owned) is in formal Ballot process with Novo Resources Ltd and another privately held Company. The stock of Strategic Elements Limited gained 21.875% to a market price of $0.039, the stock has undergone a performance change of -61.90% over past 1 year.

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