Needle on 3 Stocks - MZZ, KNM, AQD

Matador Mining Limited

Matador Mining Limited (ASX: MZZ) is a gold exploration company with a tenure covering 65-km of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland, Canada. Currently, it is developing a large-scale development package for the same. On April 3rd, 2019, the MZZ stock price soared high by 39.47% to AUD 0.265 with ~ 1.17 million outstanding shares.

The sudden surge perhaps followed the company’s announcement concerning the completion of a $ 5-million capital raising to sophisticated and professional Investors at an issue price of AUD 0.16 per share. The proceeds will be reportedly utilised in the upcoming exploration season beginning later this quarter and includes ~75% targeting resource expansion at Central Zone and ~25% drilling at greenfield exploration targets and Window Glass Hill. Besides, Matador Mining would also be acquiring the remaining 20% interest in the Cape Ray Gold Project preplacement, thus gaining full-ownership.

The company reported loss for the half-year ended December 31st, 2018 at $ 2,664,795, up on $ 264,803 recorded in the prior corresponding period (PCP) ended December 31st, 2017. The net assets were valued at $ 9,404,521 including net cash and cash equivalents of $ 1,034,386 with the close of the concerned period.

Today, on April 4th, the stock closed at AUD 0.260.

Kneomedia Limited

KNeoMedia Limited (ASX: KNM) is an education publishing company that offers premium assessment products and games-based learning to the educational markets worldwide including the special needs education facilities. It operates the KneoWorld online portal. KNeoMedia has a market valuation of around AUD 18.33 million with ~ 654.57 million outstanding shares. The KNM stock price mounted by 55.55% to AUD 0.028 with the end of trading on April 3rd, 2019 with 9.37 million shares traded.

On the same day, the company informed the market that the Florida Department of Education had approved KneoWorld as a partner product federal funding for Florida’s 67 Districts that house over 2,470 elementary and middle public schools with ~ 2 million students. Currently, KNeoMedia’s US sales team is working to lock in sales with the first two Districts. On April 1st, 2019, a trading halt was imposed on the securities of KNeoMedia awaiting the release of this announcement.

As per the half-yearly report for the period ended December 31st, 2018, KNeoMedia incurred a loss of ~ $ 1.99 million, up on the loss of $ 1.30 million in the PCP, due to investments into expansion of the sales team and the product base to broaden sales channels across the US, UK and Philippines.

Today, on April 4th, the stock closed at AUD 0.029, up by 3.6% post company’s announcement of its first sale of $5K order of 100 Seat Licences.

Ausquest Limited

AusQuest Limited (ASX: AQD) is a metals and mining sector company which explore for commodities and minerals including copper, iron oxide, zinc, sulphides, gold and base metal deposits primarily across tenements in Australia and Peru. On April 3rd, 2019, the AQD stock price surged by 15.385% to AUD 0.015. On April 4th, the stock closed 6.7% down at AUD 0.014.

Earlier in the month, AusQuest informed the market that the initial diamond drilling to test electromagnetic and magnetic targets at the Yallum Hill Copper Prospect in Western Australia is scheduled to begin around the April 6th, 2019 under the strategic alliance agreement with Perth-based South32 Group Operations Pty Ltd. Prior to this on February 14th, the company announced that that further drilling at the Balladonia Prospect in the Fraser Range area would begin in the second quarter of CY 2019 following the receipt of compelling assay results from the initial reconnaissance air-core drilling completed in December 2018.

As per the financial results for the half-year ended December 31st, 2018, AusQuest posted the loss from continuing operations at $ 449,781, down on the profit of $ 167,057 recorded in the PCP. The net cash and cash equivalents amounted to $ 2,137,544 at the close of the concerned period.


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