3 Stocks moving up today – INP, MCM And ARS

  • Dec 24, 2018 AEDT
  • Team Kalkine
3 Stocks moving up today – INP, MCM And ARS
With S&P/ASX 200 and all ordinaries closing higher by 26 points today, the stocks are enjoying the holiday mood as well. Three stocks gaining on the ASX and closes in green are the following and are worth keeping in your watchlist. The companies are making advancements and are positioning them for a better year ahead. INCENTIAPAY LIMITED (ASX: INP) – To divest the Gruden government business to Jakeman Business Solutions Pty Limited a wholly-owned subsidiary of the Citadel Group Limited (ASX: CGL), IncentiaPay Limited has disclosed to the market on 3 December 2018 of its entry into a binding agreement. The transaction has been funded from citadel’s available cash and will be immediately earnings accretive. The company no longer expects to deliver underlying EBITDA for FY19 of between $3m and $5m, following a review of recent operating performance, together with the ongoing restructuring and investment requirements across the business. The stock price surged up by 30.769% to trade at $0.034 with the recent acquisition, and the market cap is at $5.93 million.  MC MINING LIMITED (ASX: MCM) – Incorporating European Market Abuse Regulation the company has revised its policy related to trading in its securities by key management personnel during prohibited periods. To finance facilities of over $10.5 million and to continue the development of its projects, MC Mining’s cash position increased by $1.3 million year-on-year and the company has access to it. With the balance sheet restructuring initiatives resulted in the company’s cash balance increasing slightly on the prior year, MCMining’s FY2018 revenue of $32.7 million from Uitkomst together. The stock price surged up by 22.807% to trade at $0.700 with the rebranding which recognizes its operational focus, and the market cap is at $80.3 million. ALT RESOURCES LIMITED (ASX: ARS) – The company recently announced the results from the 3rd stage of RC drilling undertaken at the Bottle Creek Gold Project. New drilling at the northern end of the VB pit and between the mined VB and Boags pits company has now completed infill drilling at the Southwark deposit, resulting into high-grade gold and silver intercepts, extension drilling at the southern end of the Emu deposit. Alt has grown its Resource base at Mt Ida to 257,000oz Au and 900,000oz Ag in just eleven months. The cash at the bank as of June 30, 2018, is $709,000 with no debt represents a healthy balance sheet. The stock price surged up by 22.222% to trade at $0.022 with positive results from drilling, and the market cap is at $4.34 million.


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