3 Stocks under discussion - SPX, AJX, GID

  • Mar 29, 2019 AEDT
  • Team Kalkine
3 Stocks under discussion - SPX, AJX, GID

The below-mentioned stocks have witnessed significant improvement in their share prices today. Let's take a closer look at the recent updates of these stocks-

Spectrum Metals Limited (ASX: SPX)

The resource development company, Spectrum Metals Limited (ASX: SPX) has entered into an unsecured Loan and Convertible Note Agreement with Patina Resources Pty Ltd, as announced on 29 March 2019. The Facility is for a maximum value of AUD$1.0M and can be drawn down in minimum tranches of $250,000 at Spectrum’s election.

On 29 March 2019, the company also announced that it has received assay results from a further three holes from recent drilling at Penny North. The assay results include the intersection of 4m at 105.2 g/t gold in hole SPWRC022 which is the highest-grade intersection yet seen in the company’s program at Penny North, occurring immediately down dip of the previously released hole SPWRC018.

Today, the company’s shares were up by 24% in the intraday trade and last traded at $0.031 with a market capitalisation of circa $26.28 million. In the past six months, the share price of the company increased by 400% as on 29 March 2019.

Alexium International Group Limited (ASX: AJX)

On 29 March 2019, Alexium International Group Limited (ASX: AJX) announced the appointment of highly experienced Rosheen Garnon as its new Board Chair. Ms. Garnon is a former KPMG senior partner who currently chairs the Audit and Risk Committee.

The company is soon going to provide an update on the commercialization of Alexiflam® NF technologies. Together with its recent exclusivity agreement to supply Pine Belt with flame-retardant treatment for military applications, the commercialization of Alexiflam® NF technologies will position the company for long-term growth.

For the six months ended 31 December 2018, the company reported revenue of US$1.548 million which was 77% lower than the previous corresponding period.

Today, the company’s shares were up by 6.25% in the intraday trade and last traded at $0.170 with a market capitalisation of circa $55.27 million. In the past six months, the share price of the company increased by 18.52% as on 29 March 2019.

GI Dynamics® Inc. (ASX: GID)

A medical device company, GI Dynamics® Inc. (ASX: GID) has announced positive results on one-year data from the Association of British Clinical Diabetologists (ABCD) EndoBarrier Obstructive Sleep Apnea Study whose main aim was to investigate whether weight loss associated with EndoBarrier would reduce OSA events for patients with type 2 diabetes or pre-diabetes who are treated with continuous positive airway pressure.

The outcomes of the study are showing promising results with a significant reduction in weight and body mass index (BMI), as well as reduction in obstructive sleep apnea (OSA) events and HbA1c, signifying that EndoBarrier can provide great benefit to patients who are in need of an alternative treatment.

Today, the company’s shares were up by 10.526% in the intraday trade and last traded at $0.021 with a market capitalisation of circa $18.22 million. In the past six months, the share price of the company decreased by 20.83% as on 29 March 2019.


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