3 Stocks At Trading Halt- AEV, WHK, N27

  • May 10, 2019 AEST
  • Team Kalkine
3 Stocks At Trading Halt- AEV, WHK, N27

Avenira Limited (ASX: AEV)

Metals and Mining company, Avenira Limited (ASX: AEV) decided to put its securities in a trading halt on the Australian Securities Exchange, pending a release to a financing update of the company.

AEV stock last traded at $0.015 with a market capitalisation of $15.88 million. ASX confirmed the market that trading halt would remain in place until the earlier of 14 May 2019 or the release of an announcement as stated above.

During the March 2019 quarter, the company completed the Feasibility Study targeted for the expansion of its 80%-owned Baobab Phosphate Project in the Republic of Senegal. The expansion aimed at forecasted high-grade phosphate rock mine with a concentrate production capacity of 1 million tonnes per annum.

Baobab Project possesses strong project economics including IRR of 25.0%, free cash flow of A$756 million and EBITDA of A$1,417 million. Project’s payback period stands at 3.3 years from the first production, 5.3 years from detailed engineering start with the capital expenditure stood of A$254 million.

Avenira’s net cash balance stood at $1.310 million as at 31 March.

WhiteHawk Limited (ASX: WHK)

On Friday, WhiteHawk Limited requested Australian Securities Exchange for an immediate trading halt in respect of its securities, due to a pending announcement concerning a capital raising.

Following ASX approval, WHK shares remain at the trading halt. The stock last traded at $0.130 with a market capitalisation of $16.48 million.

WhiteHawk has been recently awarded Cyber Sub-Contractor role on a seven-year contract with U.S. Federal Government department. This is the company’s third contract from U.S. Federal Government in the past 6 months.

However, Virginia-headquartered Reston are the primary contractor to this contract and WhiteHawk will serve as a sub-contractor to Reston. The total contract has been valued at US$28 million out of which WHK’s portion is expected to be between US$150K to US$300K for each year.

Over the past 12 months, WHK stock price is expected to increase by 47.51% including a massive upside of 109.68% recorded in the past three months.

Northern Cobalt Limited (ASX: N27)

Northern Cobalt Limited is another metals and mining player that decided to press a pause button. N27 securities stand in a trading halt as at 10 May 2019, pending the release of an announcement in relation to a placement and rights issue.

The stock last traded at $0.053 with a market capitalisation of $2.85 million. Over the past 12 months, N27 stock has declined by 80.37% including a negative price change of 5.36% as recorded in the past three months.

In its global search for a new vanadium project, the company identified the potential for large scale mineralisation and its unique position regarding fundamental infrastructure requirements such as cheap electricity, transport options and proximity to the mining town of Juneau in southern Alaska. Northern Cobalt is further targeting exploration at the Wollogorang Project to focus on the promising copper hits.

The trading halt on N27 securities is expected to remain in place until the earlier of 14 May 2019 or when the announcement is released to the market.


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