Global Petroleum Limited (ASX: GBP)
Oil and gas, upstream exploration company, Global Petroleum Limited (ASX: GBP) recently released its half-year results for FY 2019. During the half year period, the company remained committed to offshore Namibia where the company is seeking a farm out a partner to fund future operations on the company’s licenses namely, Petroleum Exploration Licence 0094 (PEL 0094) and Petroleum Exploration Licence 0029 (PEL 0029).
For the half-year period, the company reported a loss after tax of US$916,390 compared to the loss of US$975,145. As at 31 December 2018, the company had a cash balance of US$3,784,181 with no debt.
Meanwhile, in the last six months, the share price of the company decreased by 31.82% as on 18 March 2019. GBP’s shares traded at $0.030 (+50% intraday) as on 18 March 2019. Today, 19 March, the shares closed flat at $0.030 with a market capitalization of circa $6.08 million. GBP has offered a YTD return of 25% to its investors till date.
Kingsgate Consolidated Limited (ASX: KCN)
Gold Company, Kingsgate Consolidated Limited (ASX: KCN) has experienced an uplift of 4.65% in its share price, settling at $0.225 on 19 March 2019. KCN stock traded at $0.215 (+43.33% intraday) as on 18 March 2019.
In an announcement made on 18 March 2019, the company announced that it entered into a legally binding Heads of Agreement in order to settle the proceedings against its Political Risk Insurers. With this settlement in place, the company no longer requires litigation funding to pursue its PRI Claim nor its TAFTA Claim and moreover, the company will be working together with the insurers to fully prosecute the TAFTA Claim.
For the half year ended 31 December 2018, the company reported a Net loss of $44.53 million as compared to the loss of 18.23 million in pcp, representing an increase of 144%.
In the last six months, the share price of the company increased by 4.88% as on 18 March 2019.
KCN has offered a YTD return of 19.44% to its investors till date.
Spectrums Metals Limited (ASX: SPX)
The resource development company, Spectrums Metals Limited (ASX: SPX) has witnessed a drop of 7.143% in its share price today, settling at $0.013. In the half year ended 31 December 2018, the company reported an after?tax loss of $469,448.
Recently on 5 March 2019, the company announced the discovery of a new high-grade zone of gold mineralization at its wholly owned Penny West gold project which exceeded the company’s highest expectations at this location, both in terms of tenor and width. The discovery hole (SPWRC002) has intersected a high-grade zone from 128m down hole - 8 metres @ 23.3g/t gold & 6.9g/t silver within an overall intersection of 14 metres @ 14.4g/t gold & 4.11 g/t silver from 124m downhole, approximately 40m down dip of the previous hole.
In the last six months, the share price of the company increased by 133.00% as on 18 March 2019. SPX has offered a YTD return of 180% to its investors till date.
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