The ASX is at a two-year low, and after the US fed raised the rates, the most affected sectors of the all was the materials sector. However, few of the stocks denied the volatility and continued to move upwards. These stocks have reported gains in recent time and are further discussed below.
WATERMARK GLOBAL LEADERS FUND LIMITED (ASX: WGF) – The WGF Shareholders will be issued units with a value that reflects the company’s NTA, after transaction costs. With lower operating costs and liquidity at NAV, the scheme is expected to provide shareholders exposure to an unlisted investment vehicle. The scheme offers shareholders access to founder units in the New Trust, with preferential wholesale fees. From $1.08 on 1 July 2017, to $1.07 as at June 30, 2018, the after-tax net tangible asset backing per share also fell marginally. This was before the payment of the company’s maiden dividend on September 17, 2018, around 0.75 cents per share, 50% franked. The stock price surged by 4.865% to $0.970 with the restructuring update.
KOPPAR RESOURCES LIMITED (ASX: KRX) – The company has advised that highly respected geological consultant Grant Rocky Osborne has completed a detailed technical review of Koppar’s extensive copper-zinc portfolio in Norway, which currently cover an area of 737 km. Financial results for the company for the period ended 30 June 2018 shows the net loss of $280,649 with revenue of $4,180. The cash reserves of the company are $4,047,909 while net assets are of $4,465,767 and no dividend is recommended in respect of the current financial period. The stock price surged by 2.941% to $0.175 with the technical review completion. The company has a market capitalization of $5.4 million at the current market price.
GOLDEN STATE MINING LIMITED (ASX: GSM) – To acquire a 100% interest in the tenements held by Lefroy Exploration Limited the company has announced that it has entered into a binding Asset Sale Agreement. The conditions are $25,000 cash consideration, 1,700,000 ordinary fully paid GSM shares and 800,000 options in GSM. The company raised $4.6 million from IPO’s at an issue price of $0.20, and the current market capitalization of the stock is at $4.84 million. The company has an exceptional asset base with technical advantage with lower exploration risk. The stock price went down by 3.571% to $0.135 and is at 52-week low currently driven by market volatility.
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