For an active investor, it is very important to keep a track on the recent updates of the companies trading on securities exchange. The below mentioned stocks have come up with major updates today. Let’s take a quick look at the recent updates of these stocks -
Smart Marine Systems Limited (ASX: SM8)
Smart Marine Systems Limited (ASX: SM8) develops and commercialises award-winning patented marine products and services. The company is known for its information and technology solutions which can be deployed across oceans globally.
Today (i.e., 27 May 2019), the company announced that its Harvest Technology Pty Ltd which it recently acquired, has secured a long-term charter of offshore support vessel which will kick-off Harvest’s strategy for progressively building a platform that delivers synergic and innovative offshore solutions utilising new technologies.
In 2019 March quarter, the company reported cash flow from operating activities of A$154K which includes inflow of A$296K from Government grants and tax incentives.
Cash Flow from Operating Activities for 2019 March Quarter (Source: Company Reports)
Smart Marine Systems’ stock has provided a Year till date return of 28.47% as on 24 May 2019. SM8’s share last traded at $0.023 with a market capitalization of $5.19 million as on 27 May 2019.
Rafaella Resources Ltd (ASX: RFR)
Rafaella Resources Ltd’s (ASX: RFR) shares were up by 100% in today’s trade session. The company today has announced that it has entered a conditional Heads of Agreement (HoA) to acquire Galicia Tin & Tungsten S.L. (GTT), which owns the Santa Comba project (Project) in northwestern Spain. Along with this, the company has also proposed to conduct a share placement to raise a targeted $2.6 million at 20c per share.
Location of the Santa Comba Project, Galicia, north Spain (Source: Company Reports)
The Funds raised from the Capital Raising will be used to support further drilling to upgrade and extend the nearsurface resource, as well as the feasibility study to unlock access to the committed project financing from the German government.
RFR’s shares last traded at $0.140 with a market capitalization of circa $2.66 million as on 27 May 2019.
Aspire Mining Limited (ASX: AKM)
Mongolian metallurgical coal and infrastructure company, Aspire Mining Limited (ASX: AKM) is progressing with the low capital intensity road-based development to deliver early production. Today, the company provided an update on progress towards completion of a Definitive Feasibility Study for the Ovoot Early Development Project, according to which Mongolian Mineral Reserve Council (MRC) has approved the Ovoot Reserves following the Company’s submission incorporating and consolidating all past data and information on Ovoot.
Ovoot to Erdenet and the rail line from Tavan Tolgoi to Sainshand (Source: Company Reports)
As at 31 March 2019, the Company had A$13.5 million in cash with no debt in its Balance sheet.
Orminex Ltd (ASX: ONX)
The shares of Orminex Ltd (ASX: ONX) witnessed an increase of 36.364% in today’s intraday trade. However, by the end of today’s trading session, the company’ securities were placed in a trading halt pending an announcement regarding the price volume query received from the ASX.
The company had recently acquired Penny’s Find Gold Mine located 50km northeast of Kalgoorlie in Western Australia.
In the past six months, the share price of the company decreased by 53.19% as on 23 May 2019. ONX’s shares last traded at $0.150 with a market capitalization of circa $59.3 million as on 27 May 2019.
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