Update on Two Stocks With an 8 in Their Code - AX8 & AL8

January 21, 2019 02:22 PM IST | By Team Kalkine Media
 Update on Two Stocks With an 8 in Their Code - AX8 & AL8

Accelerate Resources Limited (ASX:AX8)

Accelerate Resources Limited (ASX: AX8) has been incorporated with the purpose of pursuing various investment opportunities in the resources sector. The company has made an agreement to fully own (100% interest) at the Mt Read Cobalt Project in Tasmania. This project is prospective for minerals like cobalt, copper, and nickel. Besides this, the company has fully-owned projects in Bulgaria, Mount Monger, and Cue exploration projects. The company has four gold-focused exploration projects in its portfolio.

The company in the recent past dated 7 January 2019, announced to have changed its provider for the shareholder registry services from Automic Registry Services to Advanced Registry Services. In FY18, the company made a mark since it got listed on the Australian Securities Exchange on 14 February 2018. However, another significant achievement of the company includes its raising of funds of $5 million to utilize in the company’s exploration initiatives at the Mt Read cobalt project in Tasmania and its Western Australian gold projects.

On the financial performance front, the loss of the company after tax increased Y-O-Y and stood at $867,747 in FY18 as compared to $364,881 in FY17. The total assets increased significantly Y-O-Y to stood at $6.277 million in FY18 as compared to $0.183 million in FY17.

In the past three months, the share has fallen 24.21% as on January 18, 2019) and is trading at the lower level with the market capitalization of circa $3.43 Mn as on January 21, 2019 (AEST: 4:00 PM).

Alderan Resources Limited (ASX:AL8)

Alderan Resources Limited (ASX:AL8) is into metals and mining sector operating in metal exploration and production services. It mines and explores copper, gold, silver, zinc, and other related metals.

On 3 January 2019, the company has announced about the change of the remuneration of its CEO and Executive Directors. The company reduced the annual remuneration of the CEO Mr. Chris Wanless to $189,000 from previously paid $219,000. Annual remuneration for 60% full-time equivalent work hours for the Executive Director Mr. Bruno Hegner will be $129,000 from the previous full-time remuneration of $216,000, effective from 1 January 2019.

Glancing into the financials of the company for FY 18, it has reported a net loss of $6.70 million in FY18 as compared to $1.57 million in FY17. The total assets of the company were reported at $8.92 million in FY18 as of $9.109 million in the previous year. The company reported a net cash outflow from operations of $8.275 million in FY18 as compared to $1.439 million in FY17; however, the cash outflow from investing activities stood at $575,380 in FY18 as compared to a cash outflow of $37,256 in the previous year. As at 30 September 2018, the company had cash and cash equivalent of $195k.

The stock last traded on ASX at $0.140 with the market capitalization of ~$18.15 million. It has generated a YTD return of 12.0% and generated negative returns of 79.10%, 37.78% and 3.45% in the past six months, three months and one-month period respectively. It has a 52-week high price of $1.490 and a 52-week low of $0.125.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Sponsored Articles


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.