Equatorial Resources Limited
Equatorial Resources Limited (ASX: EQX) presented its March 2019 Quarterly Report today. During the quarter, the company made further presentations to the Republic of Congo Government for their assistance in the progress of the review of the Company’s Mining Licence application. The Mining Licence application was filed for the company’s Badondo project.
The company aims for additional exploration and development activity at the project. Equatorial is looking for opportunities for collaboration with strategic investors to raise the value of its project.
The company’s financial report indicated a strong financial position with no debt. At the end of the quarter, the company had substantial cash reserves worth A$40 million.
The company’s stock price closed at AUD 0.280 (As on 26th April 2019), up by 3.7% than the previous day’s market price. 50,204 shares were in trade today with 124.45 million shares currently outstanding. The market capitalisation of the company stood at AUD 33.6 million with its 52-week high and low value being AUD 0.370 and AUD 0.270 respectively.
Horizon Gold Limited
Horizon Gold Limited (ASX: HRN) is an exploration company headquartered in Hay Street, Perth, Australia. The company focusses on its wholly owned Gum Creek Gold Project in Western Australia.
Horizon Gold Limited announced its quarterly activities report for the period ending 31 March 2019 today. The company undertook several exploration activities during the March 2019 quarter including:
- The final assay results were received and reported for the eight-hole (2,648 drill metres) Altair follow-up reverse circulation (RC)
- The twelve-hole (4,184 drill metres) diamond drill program (second stage) was concluded at the Altair zinc-copper Prospect. This program was completed between 23rd Jan 2019 and 5th March 2019.
- Completion of a six-hole (1,799.7 drill metres) diamond drill program for testing of high-grade Butcherbird Shear
The company plans to undertake preliminary metallurgical test-work of samples taken from Altair zinc-copper drill core, and to conduct underground evaluation studies on the Swan and Swift deposits in June 2019 quarter.
Horizon also released its quarterly cash flow report for the same quarter. The company’s cash position at the end of the quarter was AUD 2.7 million. Payments worth AUD 1.4 million were made during the quarter by the company.
The company’s stock has seen a downturn over the last month. The stock performance of the company shows the negative YTD of 20% and a fall of 33.33% over the last six months. The company’s stock last traded on 23rd April 2019 at a market price of AUD 0.140.
Pura Vida Energy NL
Pura Vida Energy NL (ASX: PVD) also announced its Quarterly Report For the period ended 31 March 2019 today. During the quarter, the company remained firm on its claim of an unavoidable accident on the Nkembe Production Sharing Contract (PSC). The company declares that there are no funds or contributions currently outstanding.
An independent review of a relinquishment proposal of a part of Ambilobe block was completed by Pura Vida. The company began a farm-out process during the quarter to search for interested parties ready to commit funds for the progress of Ambilobe block project.
Pura Vida’s cash and cash equivalents at the end of the quarter was AU$6.7 million. The company also has an additional AUD 700,000 in listed ASX securities based on market prices as at 31 March 2019.
The company’s stock performance was not so promising during the quarter. The company reported a negative YTD of 18.18%. The stock of the firm closed today at flat AUD 0.018 (As on 26th April 2019). 394,608 number of shares were in trade today while 248.01 million currently outstanding.