Nvoi ltd (ASX: NVO) is an open market workforce-as-a-service platform that directly connects employers and skilled professionals, providing instant engagement and removing the friction points in contract workforce management in Australia.
It offers its services under three key segments as follows:
Source: Company’s Website
With a market capitalisation of AUD 13.47 million with ~ 1.04 billion outstanding shares, the NVO stock price settled the market trading session, today (23 May 2019) at AUD 0.016, zooming up 23.077% by AUD 0.003 with ~ 21.85 million shares traded.
In addition, the NVO stock has generated an outstanding positive YTD return of 203.33%.
The company recently reverted to a price query lodged on 3 May 2019 by ASX regarding the change in the price of NVO’s securities from a low of AUD 0.005 on 29 April 2019 to a high of AUD 0.022 on 3 May 2019 accompanied by a rise in the volume of traded securities. As per Nvoi, the sudden surge may be attributed to the general market sentiments.
Also, on 30 April 2019, Nvoi announced certain changes to its Board of Directors and management team whereby Mr Andrew Bursill has been appointed as a Non-Executive Director, CFO and Company Secretary. Also, Mr John Winters would move into the role of Interim CEO and lead a review of the Nvoi platform and the Company’ operations and opportunities
In the quarter ended 31 March 2019, the company undertook a placement of ordinary shares to professional and sophisticated investors to raise ~ $ 352,708 before costs. Subsequently, in April 2019, Nvoi closed an underwritten non-renounceable entitlement issue of shares to shareholders on 1:1 basis at $ 0.003 per share, raising $ 1,553,000 before costs.
Orminex (ASX: ONX) primarily operates as a natural resources company engaged in exploring for, acquiring, and developing mining projects. The company’s strategic alliance partner, GBF Mining Pty Ltd, supervises the operational management of its projects.
With a market capitalisation of AUD 56.61 million and ~ 539.1 million outstanding shares, the ONX stock price settled today’s trading (23 May 2019) at AUD 0.110, edging up 4.76% by AUD 0.005 with ~ 304,635 shares traded.
Recently on 7 May 2019, Orminex informed the market that the final detailed documents to acquire 100% of the Penny’s Find Gold Mine from Empire Resources Ltd (ASX: ERL) had been completed.
Source: Company’s announcement (7th May 2019)
Through the purchase, the company has gained 100% ownership of the Mining Tenements M27/156 and G27/01, L27/90 L27/91, L27/92 and L27/93. Moreover, the existing infrastructure and equipment present at the site were also included in the purchase.
As per the terms agreed between Orminex and Empire Resources, a cash payment of AUD600,000 was extended. Besides, the agreement also specifies 5% net smelter royalty to be paid on the production of first 50k ounces from M27/156 and thereafter, a 2.5 % net smelter royalty for the entire life of mine.
Penny’s Find is strategically located 50 km northeast of Kalgoorlie in Western Australia and host 50,000 ounces of high-grade gold.
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