Troy Resources Limited (ASX: TRY)
Troy Resources Limited today reported the production of 13,333 ounces gold for the quarter ended 31 March 2019. Whereas, the sales revenue for the quarter was US$18.4 million from the sale of 14,124 ounces of gold.
Chief Executive Officer and Managing Director, Mr Ken Nilsson stated that “Operations for the March Quarter, as measured by tonnes moved, ounces produced and operating costs were in line with expectation. Access to the higher grade Smarts 3 ore should impact favourably on production and cost metrics from July.”
The company also confirmed the extension of Ohio Creek Prospect along strike for approximately 950 metres with multiple significant intersections including 44 m @ 3.50 g/t Au from 73 m at TRC089.
On the financing front, Troy completed the Share Purchase Plan during the quarter raising approximately $1.6 million. Cash and equivalents (gold inventories) stood at $10.5 million as at the end of the quarter.
The production guidance has been placed at 12,000 to 13,000 ounces for the June 2019 quarter which would take the FY2019 production to range within 58,000 and 60,000 ounces.
TRY last traded at $0.085, down 1.163%, on 29 April 2019.
AustChina Holdings Limited (ASX: AUH)
During the March 2019 quarter, AustChina Holdings Limited continues to monitor progress in the potential development of the coal industry in the Galilee Basin that may lead to the improvement of rail infrastructure closer to its Blackall Coal Project in Central Queensland.
AustChina sees long term potential in the copper sector, to which Sector Resources Pty Ltd provides entry through its exploration activities. Field activities are expected to continue after the wet season in early 2019.
The Group’s cash balance stood at $276,000 as at the end of the March 2019 quarter, compared to the $473,000 as at the beginning of the period.
AUH last traded at $0.002 with a price to earnings multiple of 0.710x and a market capitalisation of $2.23 million. Over the past 12 months, the stock has declined by 66.67% including a negative price change of 33.33% recorded in the past three months.
Apiam Animal Health Limited (ASX: AHX)
Apiam reported Q3 2019 revenue of $26.9 million, 5% higher than the previous corresponding period driven by the higher revenue-generating activities across the dairy, feedlot and pig industries. Its gross profit for Q3 2019 was $13.3 million, up 7% on Q3 2018, taking the March YTD 2019 gross profit to $41.9 million.
Moreover, Apiam’s China sheep genetics project is set to enter an exciting phase in the first half of the 2020 financial year. Apiam has joined hands with China-based Gansu Charming Sheep Breeder Co Ltd to create breeds of sheep which are suitable to Chinese market and conditions.
Australia has about 68 million sheep. Apiam will introduce multiple breeds of Australian sheep to China and determine which can produce more meat under Chinese conditions.
AHX last traded at $0.460. There has been a daily volume change of 13,016 shares on 29 April 2019 while the price was remaining unchanged.
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