After a positive outlook on trade from the US, the ASX is expected to move higher. Some small-cap stocks taking a note of the situation and moving up on the ASX are mentioned herein. Letâs find out more about three such stocks:
REDBANK COPPER LIMITED (ASX: RCP) â The revenue for the company is $592,444 as at June 30, 2018 which is up from $2,609 as at June 30, 2017. From net loss of $640,964 in the previous year the company has moved towards the net profit after tax of $117,433. At the end of the financial year, the cash reserves are $50,375 with no debt on the balance sheet. At 30 June 2018, the Group had net liabilities of $1,730,585 and a net working capital deficit of $1,730,060. The company has Price to Earnings (P/E) ratio of 40.00 which is slightly high, and the stock may be overpriced among the peer basket while earnings per share (EPS) are at AUD 0.001. The stock price surged up by 10% as at November 28, 2018 to $0.044 and has witnessed a 42.86% over the past six months.Â
AUROCH MINERALS LTD (ASX: AOU) â Auroch has applied for a large exploration tenement package in the Lake Torrens region of South Australia. Covering a combined area of 1,622 km the companyâs Torrens East Copper Project comprises two exploration license applications and is considered highly-prospective for IOCG mineralization. The company has planned a comprehensive drill program to test targets across the project, following environmental approval. As at 30 June 2018 the net assets of the group are $5,523,331 as compared to 2017 net assets of $7,720,238. The company received acceptances for 11,646,717 of New Options exercisable at $0.10 on or before 30Â Â Â Â Â Â Â Â Â Â Â November 2021. The stock price surged up by 50% as at November 28, 2018 to $0.090 and has witnessed a 50.00% over the past six months.
ADX ENERGY LTD (ASX: ADX) â To get a 50% interest in a license, the company has signed an agreement with SDP Services Limited which is containing the successfully tested Norma and Naila oil discoveries in offshore Italy and the Nilde Oil Redevelopment Project. As at the end of half-year the cash and cash equivalents at June 30, 2018 were $1,472,524. The total current assets at half year are of $1,663,965 and total current liabilities are $492,874 which represents the ability to pay off short term obligations. Approved by Shareholders on 25 May 2018, 1,725,000 shares issued according to ADXsâ Directorsâ Share Plan. The stock price surged up by 20% as at November 28, 2018 to $0.012, which is still close to its 52-week low and has witnessed a -9.09% over the past six months.
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