After a positive session on wall street, the Australian shares have edged up with around 90 points on the index. In this rally, consumer stocks are leading the ASX with support from metals and mining stocks. Four stocks that are worth discussing this morning are as follows:
BELLAMY'S AUSTRALIA LIMITED (ASX: BAL) – The company reported a revenue change of 37% from FY 17 of $240 million to $329 million in FY 18. Resulting in a normalized EBITDA change of 65% from FY 17 of $43 million to $71 million in FY 18. As per the company channel restructure was critical to revenue growth. The company has invested $39m in the supply-chain example – local Organic milk pool, Camperdown facility and IP ownership. Ingredient procurement and manufacturing savings drove the COGS savings. The stock price surged up by 6.975% to trade at $7.285 with the improved financials, and the market cap at current price is at $772.04 million.
PILBARA MINERALS LIMITED (ASX: PLS) – The company recently stated that rise at the Mount Francisco project, it is expected to witness the exploration work. The management stated that the exploration would expand the resource as well as a reserve of the Pilgangoora Lithium-Tantalum project. POSCO who will provide a convertible bond to Pilbara is a financially strong and technically capable partner for A$79.6M, to largely fund Pilbara’s original 30% interest in the JV conversion plant. The stock price which is near its 52-week low surged up by 0.806% to trade at $0.625 with the new projects underway, and the market cap at current price is at $1.08 billion.
AUSTRALIAN VANADIUM LIMITED (ASX: AVL) – Australian Vanadium Limited for its vanadium deposit at Gabanintha has announced a Maiden Ore Reserve and Pre-Feasibility Study. The concentrator plant design includes a sulphide flotation circuit which will extract an estimated 1,775 tonnes per annum of mixed sulphide concentrate. Base metal sulphide flotation extraction is also included in the pre-feasibility study. The company provides this update through Proactive Investors. The stock price which is near its 52-week low surged up by 10.526% to trade at $0.021 with the rising demand in metals and mining, and the market cap at current price is at $33.83 million.
AUSTRALIAN MINES LIMITED (ASX: AUZ) – As a consequence by the end of Q4 2018 Jervois will receive 422,856 ordinary shares of Cobalt 27 Capital Corp and US$1.5 million in cash, Jervois is to receive a final tranche of A$3.4 million plus GST for Flemington sale. Excluding its strategic shareholding in eCobalt, finalization of the Flemington and royalty sales will lead to Jervois finishing calendar 2018 with between A$9 million and A$10 million in cash and liquid securities. The stock price which is near its 52-week low dropped 2.632% to trade at $0.037 after reaching a day’s high of $0.040, which is because of the rising demand in metals and mining, and the market cap at current price is at $106.86 million.
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