2 Stocks That Are Up On ASX Small-Cap Radar- ARM And POW

  • Mar 22, 2019 AEDT
  • Team Kalkine
2 Stocks That Are Up On ASX Small-Cap Radar- ARM And POW

The below mentioned small-cap stocks have witnessed a significant increase in their share price today. Let’s take a closer look at these stocks-

Aurora Minerals Limited (ASX: ARM)

Mineral and exploration company, Aurora Minerals Limited (ASX: ARM) has a diversified portfolio of exploration interests across three continents with a focus on South Korea through Peninsula Mines Limited, Indonesia through Nusantara Resources Limited, and West Africa with Predictive Discovery Limited. Today, the company has noted the announcement by Predictive Discovery Limited in which Predictive announced that it has commenced diamond drilling at Ferkessedougou North to explore the shape of the gold mineralised granitic body identified recently from a highly encouraging trenching result. Notable results from the trenching includes - 34m at 5.29g/t Au1 and 92m at 1.76g/t Au. 5,147m. The trenching was completed on the Ferkessedougou North permit with 2m channel samples taken in the trench walls and submitted for bottle roll (cyanide leach) analysis at the Elam laboratory in Yamoussoukro, Cote D’Ivoire.

The Aurora strategy is to acquire projects that are well understood but deemed sub-economic and apply a technology solution to unlock value. During the half-year, Aurora focused on project review to identify potential Australian development opportunities suited to the application of smart sorting technology.

For the half-year ended 31 December 2018, Aurora Minerals reported the loss after tax of $2,429,330.

In the last six months, the share price of the company decreased by 53.85% as on 21 March 2019. ARM’s shares traded at $0.014 (+16.667% intraday) with a market capitalization of circa $1.41 million as on 22 March 2019.

Protean Energy Limited (ASX: POW)

Protean Energy Limited (ASX: POW) has provided a response to ASX price query. In its query letter, ASX has asked company regarding the change in the price of the Entity’s securities from a closing price of $0.01 on Tuesday, 19 March 2019 to an intra-day high at the time of writing of $0.021 today, Friday 22 March 2019. In its response, the company has stated that is not aware of any information for recent trading in the securities of the Company. Recently on 4 March 2019, the company announced that it has made significant progress in the finalisation of a Mining Study and mineral excavation plan targeting its Daejon vanadium/uranium project.

The Company has engaged with two independent geological firms, Geogeny and Daeheung Mining, based in South Korea to work alongside Optiro Pty Ltd in progressing the two studies which form the basis of advancing the Daejon tenements to a mining lease.

For the half-year ended 31 December 2018, the company reported a net loss after tax of $1,130,949. As at 31 December 2018, the Group had net assets of $5,411,357 and cash assets of $1,514,875.

In the last six months, the share price of the company decreased by 50.00% as on 22 March 2019. POW’s shares last traded at $0.014 (+7.692% intraday) with a market capitalization of circa $4.05 million as on 22 March 2019.


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