Stocks With Recent Updates – FTC, PEN, HGO 

FinTech Chain Limited (ASX: FTC) today updated about the progress to support CMB and its clients in the rollout of the T-Linx system. The company has been managing China Merchants Bank’s T-Linx trial program since July 2018. It includes all software and hardware support and training and user acceptance testing. T-Linx system has provided positive results in terms of capability, stability and reliability. It leads the CMB’s diversified customers to take up a trial basis of the T-Linx system. The T-Linx system is capable to serve both B2B and B2C payment solutions by digitising end-user payments to merchants and finally to manufacturers. It also includes a global bottler of non-alcoholic ready-to-drink beverages who is one of the CMB’s largest clients.

Total T-Linx transactions on CMB’s network totalled RMB400 million in the duration of July 2018 to March 2019. It was on a limited trial basis in four selected Chinese provinces from one of the beverage producer. The company expects the growth of T-Linx transaction volume to align with the system’s take-up rate amongst CMB’s customer base.

At market close on 17 April 2019, the stock was trading at a price of $0.096, down by 31.429% as compared to its previous day’s close, with a market cap of $91.11 million.

Peninsula Energy Limited (ASX:PEN) in its recent update, announced that Paradice Investment Management Pty Ltd has become an initial substantial holder with voting rights at 9.71%.

The company released a March Quarterly Activities Report, in which, it highlighted that Strata received approval from the Land Quality Division for low pH ISR mining at the Lance Projects. It is considered as a major regulatory approval milestone. PEN received final approval of the PTM amendment in March quarter submitted to the Wyoming Department of Environmental Quality (WDEQ).

March quarter saw a production of 15,413 U₃O₈ as compared with the December quarter production, which was at 20,364 lbs U₃O₈. The lower production levels can be largely attributed to a combination of the natural decline of head grades along with a conscious decision to decrease chemical addition and hence, chemical costs.

At the closing price of $0.275, the market capitalisation of the stock stands at $67.97 million as on 17th April 2019. The stock has performed well on a YTD basis, appreciating 52.78%.

Hillgrove Resources Limited (ASX: HGO) communicated that it has completed the competitive process at its mine site. HGO was looking for the proposal under this competitive process from the private sector to develop, own and operate a Pumped Hydro Energy Storage. The said project is located at its Kanmantoo mine site. The company has finalised AGL Energy Limited to sell the right to develop, own and operate the PHES project for $31 million.

Payment period for the agreement will span out in 18 to 36 month. The sum of $1 million will be paid on signing of the project agreements. $4 million will be paid on the completion of a few conditions precedent. $5 million will be paid once AGL organises for the approvals and licences and water supply and transportation arrangements. At the time of development approval and an offer of a connection agreement to the grid for the project the sum of $10 million will be paid. The remaining $11 million will be paid on FID by AGL.

At market close on 17 April 2019, the stock was trading at $0.083, down 7.77%, with a market cap of $51.97 million.

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