Small-Cap Discussion: BOC, GID, FIJ, BUD, AZY, LCD

When it comes to investing in equities, investors generally get confused regarding whether to invest in large-cap, mid-cap or small-cap. Investment in mid-cap stocks is relatively riskier than injecting funds in large-cap or mid-cap stocks.

The prices of large-cap stocks may not grow as fast as the small cap stocks. However, investment in small-cap provides the investor an opportunity to grow its invested capital with growth in the company’s business.

In the below article, we are discussing six small-cap companies with their recent updates.

Bougainville Copper Limited (ASX: BOC)

Bougainville Copper Limited (ASX: BOC) is in the business of mining and production of concentrates containing copper, gold and silver. BOC via a release dated 25th October 2019 announced that since 15th May 1989, there has been no production.

Half-Yearly Results

The company updated the market with the results for half year ended 30th June 2019 and outlined the following

  • For the half year, the company experienced net operating loss amounting to $1.61 million against a net loss of $2.84 million for the half-year ended 30th June 2018;
  • BOC witnessed a decline in expenditure in 2019 amounting to K2.9 million compared to the first half of 2018;
  • The company derived dividend income from investments in ASX listed shares. The investments amounting to K3.4 million were realised with a capital gain totalling to K1.4 million, which was recorded in retained profits;
  • In addition, there were no borrowings outstanding at the end of six months to 30th June 2019.

The stock of BOC was trading at $0.250, up 16.279% as on 25th November 2019 (AEST 01:17 PM). The market capitalisation of the BOC stands at $86.23 million, while the stock has delivered returns of 48.28% and 72.00% during the last three months and six months, respectively.

GI Dynamics® Inc (ASX: GID)

Health care sector player, GI Dynamics® Inc (ASX: GID) develops and commercialises effective non-surgical approaches targeted towards the treatment of people suffering from type 2 diabetes and obesity.

Observer to the Board of Directors

  • The company through a release dated 20th November 2019 announced to have entered into an agreement with its leading stockholder as well as a related party for the purposes of the Australian Securities Exchange Listing Rules, named as Crystal Amber Fund Limited.
  • With respect to the observer agreement of Board, GID has granted Crystal Amber Fund Limited the right to appoint one representative to attend meetings of the Board of Directors of the company in a non-voting observer capacity only. The right is applicable as long as Crystal Amber beneficially owns an aggregate of at least 20% of GID’s common stock on a fully diluted as-converted basis.

The stock of GID last traded at $0.020 on 22nd November 2019 with a market capitalisation of $36.53 million. The stock has delivered returns of -41.18% and -9.09% during the last three months and six months, respectively

Fiji Kava Limited (ASX: FIJ)

Fiji Kava Limited (ASX: FIJ) is focused on the expansion of distribution of ‘noble kava’ products across western markets in order to provide a natural alternative to anti-anxiety prescription medicines like Valium and Xanax.

Launch on Amazon

  • As per a company release dated 22nd November 2019, FIJ rolled out into the fast-growing kava market with its products now available on Amazon’s marketplace in the US as well as on the company’s website, com.
  • The range of Noble Kava Extract Capsules and Instant Kava Powder products are now live on Amazon in the United States.
  • The company reported that the US is experiencing fast growth in kava popularity among consumers, with hundreds of kava bars popping up throughout the country.

The stock of FIJ was trading at $0.105, up 5% as on 25th November 2019 (AEST 01:21 PM). The market capitalisation of FIJ stands at $6.97 million and the stock has delivered returns of 72.41% and 33.33% during the last three months and six months, respectively.

Buddy Technologies Ltd (ASX: BUD)

IoT and cloud-based solutions provider, Buddy Technologies Ltd (ASX: BUD) is engaged in the designing, development as well as marketing of a global data exchange.

10-Year Multi-Product Licensing Agreement

  • In a market update on 22nd November 2019, BUD announced to have signed an agreement to licence its Powered by LIFX platform to Eastfield Lighting (Hong Kong) Co., Limited.
  • The agreement is a non-exclusive 10-year multi-product licencing accord, to build LIFX-compatible smart lights that contemplate at least 500,000 licences (initially) with no cap.
  • The agreement provides for a non-refundable payment amounting to US$250k in order to commence the arrangement, as well as provides for a license fee per piece of product manufactured, per quarter.

The stock of BUD was trading at $0.035, up 12.903% as on 25th November 2019 (AEST 01:23 PM). The market capitalisation of BUD stands at $73.79 million and the stock has delivered returns of -18.42% and -42.59% during the last three months and six months, respectively.

Antipa Minerals Limited (ASX: AZY)

Antipa Minerals Limited (ASX: AZY) is involved in the exploration of minerals in Australia with primary focus on gold and copper. The company’s secondary focus revolves around uranium, tungsten and other base metals.

Strong Drilling Results

Antipa recently announced an update on its ongoing exploration program on its 100% owned ground in the Paterson Province of WA. The company unveiled that six RC drill holes have confirmed multiple zones of significant copper?gold?silver?lead?zinc mineralisation at previously identified targets, including

  • Serrano?Poblano Prospects
  1. 0m at 8.1 g/t gold and 0.23% copper from 194m down hole in 19EPC0020
  2. 0m at 2.16 g/t gold, 0.17% copper and 0.87 g/t silver from 126m down hole in 19EPC0029
  • Grey Prospect:
  1. 0m at 197.2 g/t silver, 0.9% copper, 2.2% lead, 0.2% zinc and 0.12 g/t gold from 66m down hole in 19EPC0032 including 1.0m at 562.0 g/t silver, 2.3% copper, 6.3% lead, 0.4% zinc and 0.32 g/t gold.
  • It was mentioned in the release that the exploration program is targeting to deliver large?scale discoveries, which are based on Telfer, Winu, Havieron as well as Nifty analogues.

Also Read: Update on Citadel Project JV with Rio Tinto.

In another update, the company stated that the exercise price of the Incentive Options would be equal to a 50% premium to the 5-day weighted average price at which the AZY’s shares traded immediately precedent to the date of grant. The exercise price of the options of $0.019 per incentive option was scheduled for consideration at the company’s annual general meeting on 22 November 2019.

The stock of AZY was trading at $0.011, down 8.333% as on 25th November 2019 (AEST 01:29 PM). The market capitalisation of AZY stands at $24.92 million and the stock has delivered returns of -14.29% and -33.33% during the last three months and six months, respectively.

Latitude Consolidated Limited (ASX: LCD)

Australia and Africa focused, Latitude Consolidated Limited (ASX: LCD) is a resources development company, which also holds a prospective gold tenement in WA (Western Australia).

September 2019 Quarter

Recently, the company updated the market with its activities for the quarter ended 30th September 2019 and outlined the following:

  • LCD continued geological aiming at Gecko North E15/1587 and delivered first stage geochemical sampling, with collection of 219 auger samples.
  • It also continued assessment of numerous additional project acquisition opportunities in Australia and Africa.
  • During the quarter, the company executed sales of around 8.9 million out of its total 12.5 million available for sale fully paid ordinary shares in Alt Resources Limited.

For the next quarter, the company is expecting cash outflows of $150,000.

The stock of LCD last traded at $0.014 on 22nd November 2019. The market capitalisation of LCD stands at $3.85 million. The stock has delivered a return of -9.68% during the last three months.


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