Mining equities has outperformed the broader market for the second year in running, attributed to surging commodity prices driven by the green auto revolution and robust global economic growth. The industry is targeting growth in selected areas given the robust demand in the US, Asia and Eurozone. Three stocks under this category up in green are:
ALDERAN RESOURCES LIMITED (ASX: AL8) – The company has announced an update on exploration at Accrington, part of the Company’s Frisco Project located in Utah, USA. From drilling of the Accrington skarn, further assay results have been received with high grade intervals of copper and provide further confidence in the potential for Accrington to host a large deposit amenable to modern low-cost bulk mining method. The comprehensive loss of the group for the financial year ended 30 June 2018, after providing for income tax amounted to $6,492,308 as compared to 2017 loss of $1,565,689. The Group had a net bank balance of $1,665,364 as at 30 June 2018 compared to 2017 balance of $7,681,175. The stock price surged by 22.22% or by $0.040 to $0.220 as at November 14, 2018. The stock has seen a performance change of -20.00% since the past one month.
KORE POTASH PLC (ASX: KP2) – The net operating loss after tax for the half-year ended 30 June 2018 was US $4,570,790 and H1 2017 was of US $691,130. The foreign exchange gain for the period was US$99,749 H1 compared to 2017 gain of USD 1,664,560. The total equity of the group increased from $154,286,056 at 31 December 2017 to $158,820,432 at 30 June 2018. However, the cash and cash equivalents reduced by US$2,236,134 during the period to US$14,219,356 at 30 June 2018 with no debt on the balance sheet reflected a positive change in performance. No dividends have been paid or provided for during the half-year and for the year ended 31 December 2017. The stock price surged by 22.727% or by $0.025 to $0.135 as at November 14, 2018. The stock has seen a performance change of 69.23% since the past one month.
WESTSTAR INDUSTRIAL LIMITED (ASX: WSI) – The Group’s net loss after taxation attributable to the members of WestStar Industrial Limited for the year to 30 June 2018 was $3,067,348 compared to 2017 net loss of $6,576,668. No dividend was paid or declared by the Company during the year and up to the date of this report. The company also recognized $147,950 as compared to 2017 of $161,259 in depreciation charges. The loss after tax for the year ended 30 June 2018 was $3,067,348 lesser compared to FY2017 loss of $6,576,668. The company had cash and cash equivalents at the end of the period June 2018 was of $1,711,826 and a working capital deficit of $1,945,106 at 30 June 2018 compared to 2017 surplus of $81,229. The stock price surged by 25% or by $0.003 to $0.015 as at November 14, 2018. The stock has seen a performance change of -20.00% since the past one month.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.