AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
On 25 January 2019, Carbine Resources Limited (ASX:CRB) announced its Q4 results for FY2018. During the December quarter ending on 31 December 2018, the company continued its evaluation process and also looked for various exploration and mineral development opportunities within its operating jurisdictions.
During the period, CRB could not identify any asset that could meet the investment criteria for the company and deliver shareholder value.
In its previous quarter which ended on 30 September 2018, the company lodged a Research and Development application for the various technical works completed in 2017. By the end of December quarter, the company received an amount of $574,647 for the research and development. The research and development included detailed evaluation and work associated with the demonstration plant and site water investigation. The assessment of the plant work evaluated the use of resins for the recovery of copper and cyanide at the Mount Morgan processing plant.
By the end of December 2018 quarter ending, there was a net cash inflow of A$0.403 million through the operating activities of the company where the primary source of cash outflow was the administration & corporate costs and the staff cost. On the other hand, the company received $0.575 million in the form of R&D tax rebate for the year ended 31 December 2017.
By the end of the December quarter FY2018, there was an increase in the net cash and cash equivalent to $2.870 million.
During the half-year period for FY2018, which ended on 30 June 2018, the company resolved to cease all project expenditure and stopped all work associated with the Mount Morgan project and commenced work associated with the assessment of research and development application for the technical work executed in 2017 and 2018. During the September quarter, the company also made an appointment of a non-executive director Mr. Mathew OâHara after the resignation of Mr. James.
CRB has witnessed a negative performance change of 4% since its inception. CRB stock has grown by 14.29% over last 10 years, although it has plunged by 71.43% over last one year.
The shares of CRB last traded at A$0.024 (23 January 2019) with the market capitalization of A$4.79 million.
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.
