The energy sector led the last day of 2018, but the ASX was at a two year low in the last few days of December. After China’s index of purchasing managers fell to 49.4 in December, the Australian shares closed the last session at a lower end. Even for the global equity market, it was not a good quarter with economic growth concerns and continuing volatility in the markets. Four most talked about stocks under such circumstances are as follows.
GALAXY RESOURCES LIMITED (ASX: GXY) – The company has provided an update on the progress of development activities and strategic initiatives for the Sal de Vida Project and project financing substantially de-risked following the execution of transfers of the northern tenement package to POSCO for US$280 million. Improving Galaxy’s operational readiness to minimize execution risks and maximize financial returns recent project development activities have been largely focused on the Front-End Engineering Design and optimization phase. The stock has plunged 2.691% to trade at $2.170. The performance change for the stock is -42.82% in the past 12 months. The company has not declared dividends for the year.
AUSTRALIAN MINES LIMITED (ASX: AUZ) – The company recently announced that Jervois Mining confirms Flemington transfer approval by New South Wales government. The company Jervois is to finish 2018 with A$9-$10 million in cash and liquid securities, excluding its strategic shareholding in eCobalt Solutions Inc and the Bullabulling royalty. The company has new business development discussions at an advanced stage. The potential investment and off-take partners entering data-room for Nico Young project. The stock has surged up 2.703% to trade at $0.038. The performance change for the stock is -71.54% in the past 12 months. The company has not declared dividends for the year.
PILBARA MINERALS LIMITED (ASX: PLS) – The company placed its securities in a trading halt as stated by PLS to ASX, pending it releasing an announcement and the securities will remain in a trading halt until the beginning of normal trading on Thursday, 3 January 2019. From the first drill hole to commissioning in under four years, the Flagship Pilgangoora Lithium-Tantalum Project produces low cost, high-quality product. Via a jointly owned lithium chemicals plant, the company makes future participation in the rapidly developing Korean lithium-ion battery market. The stock has traded flat at $0.625. The performance change for the stock is -45.18% in the past 12 months. The company has not declared dividends for the year.
PURIFLOH LIMITED (ASX: PO3) – The company’s licensing agreement with Somnio Global provides them with exclusive access to their Free Radical Generator Technology – the ability to produce the highly oxidative radicals at their point of use. The strength of the Purifloh’s IP protection and license agreement has been an important consideration for the company and those investing in the company. The company has a very strong competitive advantage, very strong financial backing and a Board with the knowledge, experience, and capability. The stock has surged up by around 13.577% at $4.350. The performance change for the stock is a staggering 378.75% in past 12 months. The company has not declared dividends for the year.
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