DGR Global Reported Quarterly Update: All You Should Know

  • Oct 19, 2018 AEDT
  • Team Kalkine
DGR Global Reported Quarterly Update: All You Should Know

Recently, DGR Global Limited (ASX: DGR) published its quarterly activities report. As per the management of the company, it has been working towards new project generation and it was also into the review of the various investment opportunities. In the activities report, the company also stated that it presently holds 83.18% interest with respect to the oil project which is in Kanywataba Block, Uganda. The company has subsidiaries and it holds interests in those companies. In regard to Armour Energy Limited, the company stated that Kincora Gas Plant is being recommissioned as the entire plant is being operated.

DGR also stated that Armour has got the $6 million cost contribution grant in order to streamline the three production wells at Kincora. The company has received this grant under Federal Government Gas Acceleration Program or GAP. 

Dark Horse Resources

In regard to Dark Horse Resources, it has been focusing on gold. In Argentina, it is also in the process of developing Lithium Spodumene business. In Santa Cruz province, Dark Horse Resources also has plans to make an acquisition of Cachi Mineral Project (Gold). In the province, several world-class gold projects are presently operational. Los Domos gold project is also included in the same area. After NavGas Pty Ltd has been sold to Lakes Oil NL or LKO, Dark Horse Resources has been holding 9.6 billion shares with respect to the LKO.

A look at Cash Flows

In the September 2018 quarter, DGR Global Limited saw net cash outflow amounting to $0.6 million with respect to its operations mainly because the inflows in the form of receipts from the customers as well as interest received was offset by the payments made. These payments were made towards exploration as well as evaluation, administration and corporate as well as towards the company’s staff. The company witnessed outflows amounting to $2.1 million in the September quarter with respect to the investing activities.

However, DGR Limited ended September 2018 quarter by witnessing inflows amounting to $0.96 million with respect to the financing activities. The company saw inflows in regard to share issuance as well as the issuance of the convertible notes.

On October 19, 2018, DGR Global Limited ended the session at A$0.160 per share which reflects that the stock has fallen 0.005 or 3.03% today. Presently, the company has a market capitalization amounting to $101.18 million. The company’s share price has been hovering around the higher range.

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