5 stocks being talked about - PLS, GXY, AGY, AVZ and AGO

  • Aug 31, 2018 AEST
  • Team Kalkine
5 stocks being talked about - PLS, GXY, AGY, AVZ and AGO

PILBARA MINERALS LIMITED (ASX: PLS) - For the year ended 30 June 2018 the company reported consolidated loss of $19.42 million as compared to the FY 2017 loss of $25.95 million. The Directors proposed that no dividend be declared or paid during the year. As US $15 million working capital and US $ 10 million foreign exchange hedge facilities are secured with globally recognized bank, BNP Paribas, the company’s momentum builds for Stage 2 of the Pilgangoora Lithium-Tantalum project. PLS slipped 1.829% to $0.805 on 31 August 2018. What will enable the company to improve the operations of the Pilgangoora Project is the financial support from the Australian Government through NAIF by allowing increased haulage payloads to deliver product to market. The company has not declared any dividends during the year so far.

GALAXY RESOURCES LIMITED (ASX: GXY) - Over the previous half-year, primarily due to higher realized selling price the average cash margin per dmt sold increased by 140%. The revenue from sales of spodumene decreased from $84,981,000 in Dec 31, 2017 to $84,636,000 for the period ending June 30, 2018 excluding the shipping revenue. The EBITDA increased from $29,137 substantially because of a reduction in share-based payment expense of US$6.1m and an increase in the average realized price of US$90/dmt, over the preceding 6-month period. The P/E of the company is 7,325 which is associated to higher growth in the future. The company expects the supply surge from two new Australian lithium mines. Due to concerns over the large amount of new lithium supply hitting the market and because of the fall in Chinese spot price by 30 percent for lithium carbonate with 99.5 per cent purity, the stock price of GXY slipped 4.545% to $2.730 on 31 August 2018.

ARGOSY MINERALS LIMITED (ASX: AGY) - The company holds cash and cash equivalent of $8.101 million at the end of quarter June 30, 2018. The company also completed its capital raising of $17 million in October last year. Bringing total of approximately 19 hectare of Stage 2 evaporation ponds in operation, the company has completed construction and lining of new 9-hectare pond which adds up to already existing 10-hectare Stage 2 evaporation ponds. At its Rincon Lithium Project posting of additional 9-hectare pond, the company has announced stage 2 evaporation ponds progress. The project is in the Lithium Triangle in Salta Province of Argentina. The company has a negative EPS of -0.007 AUD and has not declared any dividends during the year, AGY stock fell -2.083% to $0.235 as at 31 August 2018.

AVZ MINERALS LIMITED (ASX: AVZ) – With initial 20,000m program due for completion in coming September the drilling is on track. AVZ’s cash balance totaled approximately $16.3 million as at June 30, 2018. At 3 cents each AVZ issued a total of 2,346,666 ordinary shares. The Phase 1 drilling program is a part of AVZ’s goal of completing enough drilling at Manono to enable definition of a 2012 JORC-compliant Mineral Resource and Phase 1 is progressing well with good rates of drill advancement. Results suggested that Roche Dure Pegmatite was thicker than anticipated in this area. The down-hole intercept, based on geological logging, re-affirmed that the Manono Lithium Project is a world-class lithium asset. AVZ stock was up 4.762% to $0.110 as at 31 August 2018 and is near its 52-week low with a negative EPS of -0.004 AUD.

ATLAS IRON LIMITED (ASX: AGO) - The company reported the revenue of $547 million in FY 2018 which has declined from $871 million in FY 2017. Whereas the underlying EBITDA decreased substantially from $116 million in FY 2017 to $16 million in FY 2018, because of lower revenue driven by lower sales volumes. The cash on hand as at June 30, 2018 is of $57 million down from $81 million plus $20 million in reserve as at June 30, 2017. As at June 30, 2018, secured debt facility reduced to $85m which is down from $103 million as at June 30, 2017. The company also took a hit in profits from last year with statutory net loss after tax to be $163 million as at June 30, 2018 and in turn the board recommended no dividend in relation to this period. AGO stock was down -2.326% to -$0.042 as at 31 August 2018.

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