A Quick Look At Two Nickel Stocks - ARL, JRV

  • May 12, 2019 AEST
  • Team Kalkine
A Quick Look At Two Nickel Stocks - ARL, JRV

The following nickel stocks have released their respective quarterly report last week, and they might grab investors’ attention. Let’s take a closer look at the two nickel stocks trading on ASX.

Ardea Resources Limited

Ardea Resources Limited (ASX: ARL) is engaged in the exploration and development of multiple commodities including gold and nickel. The company focusses on the advancement of its wholly-owned Goongarrie Nickel-Cobalt Project.

The company recently released a presentation, that was presented by its Chief Executive Officer, Andrew Penkethman at RIU Sydney Resources Round-Up May 2019. The company discussed its project portfolio in the presentation incorporating Goongarrie Nickel Cobalt Project, Nickel Sulphides Projects in WA, Gold Projects in WA, Porphyry & Epithermal Copper-Gold Projects and Base Metal Projects in Western Australia.

On 30th April 2019, the company published its quarterly operations report for the quarter ended 31st March 2019. The company achieved systematic progress in its Goongarrie Nickel Cobalt Project during March quarter. The Goongarrie South block models for high-grade mine scheduling were completed during the period. At the end of the quarter, Ardea reported the cash balance of $10.7 million.

The company’s stock closed down by 4.494 per cent at AUD 0.425 on 10th May 2019 in comparison to previous day’s close price. The stock fluctuated between the high and low value of AUD 0.44 and AUD 0.42 respectively. Around 106.15 million shares stood outstanding on 10th May 2019 and the market capitalisation of the stock valued at AUD 47.23 million. The stock has generated a negative YTD return of 21.93 per cent.

Jervois Mining Limited

Headquartered in Hawthorn, Australia, Jervois Mining Limited (ASX: JRV) focusses on its wholly-owned ‘Nico Young Project’ located in New South Wales, Australia. The mineralisation in Nico Young Project is associated with laterite enrichments of nickel and cobalt.

The company partnered with eCobalt Solutions Inc. on 2nd April 2019 under the Business Corporations Act. It also merged with M2 Cobalt Corp on 31st Jan 2019. In a recent release, the company has published a presentation on its combined group (Jervois + eCobalt + M2 Cobalt Corp). As stated in the presentation, the combined group of the company has strong institutional backing and capital markets position.

In its recently published quarterly activities report to 31st March 2019, the company declared that it has now become an enlarged company with greater scale, liquidity and diversification with significant re-rating potential. Jervois had the cash balance of AUD 5.2 million and no debt at the end of March quarter.

The Jervois Mining’s stock ended up lower on 10th May 2019 at AUD 0.245, down by 3.9 per cent in comparison to the previous day’s closing price of AUD 0.255. The stock fluctuated between the high and low value of AUD 0.26 and AUD 0.24 respectively. 223.26 million shares stood outstanding, and the market capitalisation of the stock was recorded at AUD 56.93 million. The company’s stock had several crests and troughs in the last months. The stock generated a YTD return of 21.43 per cent and a return of 45.71 per cent in the previous six months.


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