Six Sigma Metals Limited (ASX: SI6) happens to be an exploration company which is operating in Southern Africa and is specifically targeting projects containing “battery or new world” metals to capitalize on increased interest towards the sector due to global technology advances as well as rising demand for these commodities. The company is listed on the Australian Securities Exchange and is vanadium and lithium focused exploration company. Talking about the management of Six Sigma Metals Limited, Mr. Steve Groves is the Non-Executive Director, and Mr. Eddie King is the Director of the company.
Six Sigma Metals Limited had come forward and made an announcement related to the amended cash flows which are related to the quarter ended December 2018. As per the document issued by Six Sigma Metals Limited, the company’s net cash used in operating activities amounted to $0.313 million. The company had incurred payments towards administration and corporate costs amounting to $0.274 million. However, towards exploration & evaluation, the company incurred A$0.040 million. We would now have a look at another important news related to Six Sigma Metals Limited. Not so long ago, the company, with the help of press release, had made an announcement that it has received the notification from the Department of Mines in Botswana late in 2018 that they have been granted an outstanding Prospecting Licence application. The issued release also added that the official paperwork confirming the license has been received by the company.
Earlier, a release stated that independent board members of SI6 had advised that the company has, at its discretion, decided that it won’t be exercising Six Sigma’s Option to acquire the interest in the Mirrorplex Pty Ltd pursuant to terms of the Option Agreement between SI6, Mirrorplex as well as shareholders of Mirrorplex. The release also added that under Option Agreement, Six Sigma Metals Limited had the option to acquire up to 80% interest in Chuatsa Vanadium-Titanium and Shamva Lithium Projects in Zimbabwe by the acquisition of the interest in the share capital of Mirrorplex via three-phased share acquisition earn-in.
We would see how the company has performed in the recent past. The last-traded price of Six Sigma Metals Limited was A$0.004 per share. The market capitalization of Six Sigma Metals Limited stood at $1.83 million and, as per Australian Securities Exchange or ASX, the company’s stock price is trading towards the lower level. Talking about the past performance, the stock price of Six Sigma Metals Limited has delivered the return of -50% in the time frame of the previous six months. However, in the time span of the previous three months, the stock posted the return of -27.27%. As per the Australian Securities Exchange, the earnings per share (or EPS) of Six Sigma Metals Limited stood at -A$0.002.
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