4 Stocks Rising High - MEY, SIS, ATU And SLX

  • Feb 28, 2019 AEDT
  • Team Kalkine
4 Stocks Rising High - MEY, SIS, ATU And SLX

Marenica Energy Limited

Marenica Energy Limited (ASX: MEY) is based in West-Perth, Australia and engaged in the exploration and evaluation of uranium deposits in Namibia. The company has a market cap of AUD 6.74 million with ~ 73.21 million outstanding shares. At the end of the trading session on February 28th, the stock price skyrocketed by 30.435& to AUD 0.120, indicating an intra-day gain of AUD 0.028. MEY has also generated a positive YTD return of 15% as on 27 February.

Recently, Marenica announced its strategy for building a broader portfolio of tenements that are highly prospective exploration targets for surficial uranium mineralisation in the Erongo region of Namibia. Around nine exclusive prospecting licence applications, currently under review, have been submitted to the Ministry of Mines and Energy in Namibia in the last one year. With the quarter ended December 31st, 2018, the company had net cash and cash equivalents of AUD 1.425 million.

Simble Solutions Limited

The Sydney-based, Simble Solutions Limited (ASX: SIS), a subsidiary of Simble Corporate Limited, develops software to provide energy, mobility, and business agility solutions for businesses across New Zealand, Australia, and the United Kingdom. Simble has a market cap of AUD 9.29 million with ~ 103.25 million outstanding shares. With the close of the trading on February 28th, the SIS stock’s last sell-off price stood at AUD 0.096, up 6.667%, indicating an intra-day gain of AUD 0.006.

The company announced its results for the Full year ended December 31st, 2018 (FY2018) on February 28th highlighting revenues for the period at $ 2.35 million, down 13.5% on the prior FY2017 with an underlying EBITDA loss of $ 3.51 million. However, the revenues from the Simble Energy division rose by a staggering 134% in FY2018 and so did the receipts from customers amounting to $ 2.28 million, up 8% compared to FY2017.

Atrum Coal Limited

Atrum Coal Limited (ASX: ATU) is based in Fitzroy and engaged in exploration and development of anthracite coal deposits in Canada. It holds interests in a couple of projects across the country. Atrum has a market cap of AUD 66.75 million with ~ 360.83 million outstanding shares. With the close of the market session on February 28th, the ATU stock last traded at AUD 0.250, edging way up by 35.135%, indicating an intra-day gain of AUD 0.065.

Atrum Coal recently announced the coal quality update for the flagship 100%-owned Elan Hard Coking Coal Project in southwest Alberta, Canada, highlighting better key coking coal properties compared to the first two cored holes in early February 2019. These include a higher FSI range, higher reactive macerals (63 - 75%), lower basicity indices (0.06 - 0.18) along with low phosphorous content. At the end of the December 2018 quarter, the cash and cash equivalents stood at AUD 3.091 million with the company.

Silex Systems Limited

The Sydney-based Silex Systems Limited (ASX: SLX) was established in 1988 and engaged in research, development, commercialisation and licensing of SILEX laser uranium enrichment technology in Australia. It has a market cap of AUD 49.44 million with ~ 170.47 outstanding shares. At the close of the trading session on February 28th, the SLX stock closed at a market price of AUD 0.340, up 17.241%, indicating an intra-day gain of AUD 0.050.

Silex recently announced an operational update informing the market of its recent activities. These include the signing of a term sheet, between Silex, GEHitachi Nuclear Energy (GEH) and Cameco Corporation, stating the terms of joint purchase from GEH of its 76% stake in SILEX technology licensee GE-Hitachi Global Laser Enrichment LLC (GLE). The proposed transaction would change Silex’s stake to 51% and increase Cameco’s stake to 49% in GLE.

Besides, Silex selected IQE Plc to purchase its subsidiary Translucent Inc’s Creo™ technology in March 2018 for which a payment of USD 5 million was received in September 2018 (in IQE stock). As of December 31, 2018, the company had a strong financial position with net assets of ~ $ 40 million, including ~ $ 29 million in cash and IQE shares valued at ~$ 11 million.


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