Copper Players On ASX - AML, FND, MOD  

  • Apr 27, 2019 AEST
  • Team Kalkine
Copper Players On ASX - AML, FND, MOD  

The stocks of AML, FND and MOD remained volatile over the past few months while trading on ASX. Let us have a look at the recent updates for these companies along with the financial and stock performances in detail.

Aeon Metals Limited (ASX: AML)

A development and exploration company that offers base and precious metals, Aeon Metals Limited (ASX: AML) in its recent quarterly activities reported the highlights of resource at Walford Creek, including geological continuity proven over additional 5.7km with the definition of new Amy Copper Lode Resource. The total Vardy and Marley Resources currently stands at 37.4mt @ 1.53% CuEq over 3.6 km with total Measured and Indicated increase of 103% to 26.9mt @ 1.57% CuEq, of which 76% within the Copper Lode Resources.

On the financial front, the company reported a loss of ~$2.66 million for the half year period ended 31 December 2018 as compared to ~$9.41 million in the previous corresponding period (pcp). However, the cash and cash equivalents for the period stood at ~$3.6 million as compared to ~$16.76 million in the pcp. The decline in cash flow was predominantly due to the increased cash flow from investments driven by the payments for exploration activities.

On the price-performance front, the stock of Aeon Metals Limited was trading at $0.215, up by 2.381% during the day’s trade (At market close on 24 April 2019), with a market capitalisation of ~$141.34 million. The stock has generated a negative YTD return of 22.41% and negative returns of 30.77%, 15.09% and 16.67% over the past six months, three months and one-month period, respectively. Its 52-week high price stands at $0.450, and 52-week low price stands at $0.200, with an average trading volume of 225,795.

Finders Resources Limited (ASX: FND)

An Australian based mining and mineral exploration and development company, Finders Resources Limited (ASX: FND) recently announced that the Eastern Field Development Limited (EFDL) will exercise an option to acquire 87,339,525 shares of Finders, managed by Taurus Funds Management Pty Ltd. As EFDL already had a relevant interest in these shares, the exercise of the option does not increase EFDL’s total ownership in FND from the 97.09% it held at the end of the offer period, which closed on 5th April 2019.

The revenue of FND stood at $154.96 million in FY18 as compared to $209.50 million in FY17. The PAT stood at $11.41 million in FY18 compared to $56.33 million in FY17.

The company has production guidance of 21,000 to 24,000 tonnes of copper at an all-in sustaining cost of US$1.30/lb to US$1.50/lb for FY19. The second half is expected to have stronger production as mining of the Lerokis pit commences, and improvement initiatives are implemented and sustaining capital reduces.

On the price-performance front, the stock of Finders Resources Limited was trading at $0.200, (At market close on 24 April 2019). The stock has generated a YTD return of 21.21% and negative returns of 11.11% and 9.09% over the past six months and one-month period, respectively. Its 52-week high price stands at $0.240, with an average trading volume of 32,981. The stock is trading at a PE multiple of 28.99x.

MOD Resources Limited (ASX: MOD)

MOD Resources Limited (ASX: MOD) recently announced an issue of 53,971 fully paid ordinary shares to employees as per the company’s Employee Incentive Plan and 5,030,000 unlisted $0.522 options, which will expire on 12th April 2023, with a three year vesting period from the date of issue. The approval was given by shareholders at the meeting held on 30th May 2018. It has allotted 766 fully paid ordinary shares after the exercise of 766 $0.60 unlisted options expired on 15th April 2019 (Exercised Option Shares). The remaining 4,922,716 $0.60 options have expired without exercise.

The consolidated net loss for the year ended 31 December 2018, including discontinued operations stood at ~$9.40 million as compared to $3.32 million in FY17. MOD’s cash on hand as at 31 December 2018 was A$5.0 million.

On the price-performance front, the stock of MOD Resources Limited was trading at $0.350, with a market capitalisation of $106.31 million (At market close on 24 April 2019). The stock has generated a significant YTD return of 42.03% and returns of -2.72%, 5.99% and 12.90% over the past six months, three months and one-month period, respectively. Its 52-week high price stands at $0.532 and 52-week low price at $0.207, with an average trading volume of 495,319.


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