5 Stocks Under The Limelight - PEX, PPK, HIP, PDI And EDE

  • Nov 15, 2018 AEDT
  • Team Kalkine
5 Stocks Under The Limelight - PEX, PPK, HIP, PDI And EDE

As the industry moves towards growth and prepares for forecast of booming demand, exploration spending in the mining sector rose for a second year to near $10 billion. As the ASX continues to drop this week and this time due to major miners and banks, some stocks came under the limelight. Here are few stocks trending upwards under this category.

PEEL MINING LIMITED (ASX: PEX) – The company reported results from its 100% - owned Wagga Tank project, south of Cobar in western New South Wales. The Company has almost completed a $12.3 million fund raising via a placement and fully underwritten rights issue with approximately $6 million of this to be used to further accelerate drilling at Southern Nights. The loss for the Group for the financial year after providing for income tax amounted to $1,672,686 compared to loss of $1,140,539 in 2017, no dividends were paid or proposed during the year. They hold almost $4 million in cash and cash equivalent by the end of September in order to continue the exploration process, the company is provided with sufficient funds. The stock is trading higher by 40.323% at $0.435 as at November 15, 2018. Over the past 12 months period the stock has witnessed a performance change of 230.72%.

PPK GROUP LIMITED (ASX: PPK) – A binding Heads of Agreement has been signed for the acquisition of 100% of AICIC by the company with one of Australia’s leading technology incubator and commercialization companies, Australian Innovation Centre Pty Ltd (AIC). While full year 2018 results for the company still show an overall loss of $1.561M compared to 2017 of $0.560M profit, given the size of the 2018 first half loss, the overall turnaround between FY 1st and 2nd half was extremely positive, with a 2nd half profit of $0.284m being recorded. Internal full year group forecasts for continued improvement in revenue growth and profitability. The stock is trading higher by 6.818% at $0.470 as at November 15, 2018. PPK has significantly improved cashflow metrics from its operating activities to minus $0.176M compared to FY2017 minus $7.615M. The stock has undergone a performance change of 193.33% over the past 12 months period.

HIPO RESOURCES LIMITED (ASX: HIP) – The company has reported that it has executed a Joint Venture Agreement with Crown Mining Sarl, where HIPO can earn a 60% interest in what is potentially a world class lithium project in the Democratic Republic of the Congo. The consolidated statement of profit or loss and other comprehensive income shows a consolidated net loss for the year ended 30 June 2018 to members of $280,078 compared with 2017 net loss of $8,766,845. In June 2018 the company announced the completion of its restructure with the sale of the Namekara Vermiculite project in Uganda in exchange for the retirement of circa A$5.5 million in debt. The stock is trading higher by 15.385% at $0.015 as at November 15, 2018. The stock has undergone a performance change of 26.28% as up to year to date.

PREDICTIVE DISCOVERY LIMITED (ASX: PDI) – The company has received payment of CAD$493,000 (A$515,000) for its 30% equity in the Bobosso project in the Republic Cote D’Ivoire, increasing its current cash holdings to A$1.7 million. Allowing zero liability for future costs and bonus payments on development of up to 3 mines, the company made the decision to convert its equity from 30% to 0% in exchange for the upfront payment. The consolidated loss of the group for the financial year after providing for income tax amounted to $1,474,046 i.e. lesser compared to 2017 loss of $2,675,065 which was largely from losses on the deconsolidation of subsidiaries resulting from Joint Venture earn-ins the costs of administering the group to 30 June 2018 and exploration cost. The stock is trading higher by 23.077% at $0.016 as at November 15, 2018. The stock has undergone a performance change of 8.33% for the last one month.

EDEN INNOVATIONS LTD (ASX: EDE) – The company said that following approval by the Colorado Department of Transportation (“CDOT”) for EdenCrete® to be used in a shotcrete concrete mix, it has been used for the first time on the CDOT Central 70 project in Denver. The net assets of the consolidated group have decreased from $19,565,322 at 30 June 2017 to $17,761,570 in 2018. This decrease is largely the result of the loss during the year. The company is revenue generating, with strong year on year revenue growth expected in FY19 and accelerating in FY20. The group has a health balance sheet with $3.490 million cash in hand and no debt facility. The stock is trading higher by 16.901% at $0.083 as at November 15, 2018. The stock has undergone a performance change of 10.94% for the last six months.


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