- KPT acknowledged COVID-19 induced restrictions didn’t adversely affect company’s employees or operations.
- KGM’s cash outflows on exploration and evaluation activity during Q3 FY21 amounted to approximately AU$25K.
- Vitalharvest had received a further modified proposal from MAFM to acquire all units in VTH for AU$1.26 per unit or the assets for AU$348.1 million.
As of 2:25 PM AEST, the ASX 200 is trading 0.76% down at 7028.6, reversing from previous day’s rally, affirming market’s range bound session which is continuing since last couple of weeks. The benchmark index is oscillating around 7,000 mark and finding it challenging to trend in one or the other side.
Image Source: ID 13538035 © Aprescindere | Megapixl.com
However, investors are focusing more on stock specific developments that are making a buzz. Let’s have a look at a few of these counters, investors are focusing on and the reasons behind it.
- Kangaroo Island Plantation Timbers Limited (ASX:KPT)
KPT has released its quarterly update for Q3 FY21. The company said, in January 2021 harvesting of softwood logs from the fire-affected forests commenced under a contract to national operator Harvestco. It also acknowledged despite trauma created by Covid-19 to the regional community of Kangaroo neither the virus or the restrictions have adversely affected company’s employees or operations.
Image Source: ID 10953655 © Kropic | Megapixl.com
During the quarter ended 31 March 2021, the company paid AU$393,000 to related parties of the entity. This amount consisted of executive and non-executive Directors’ fees of AU$147,000, other key management personnel and their related parties of AU$246,000.
- AuStar Gold Limited (ASX:AUL)
Today, AuStar Gold and White Rock have revised their initial agreement, wherein White Rock proposed to acquire 100% stake in AuStar Gold. Under the revised agreement, the holders of AuStar Gold listed options will receive 1 new White Rock option for every AuStar Gold listed option held, with an exercise price of AU$0.77.
It retains the consideration of 0.78 White Rock shares for every AuStar Gold share.
- KalNorth Gold Mines Limited (ASX:KGM)
During the Q3 FY21, the company together with its subsidiary Shannon Resources Pty Ltd entered into an agreement for the sale of the company’s Kurnalpi Project for a total consideration of AU$18 million to of Northern Star Resources Limited’s (ASX:NST) wholly owned subsidiary, Northern Star (Carosue Dam) Pty Ltd.
Cash outflows on exploration and evaluation activity during the quarter amounted to approximately AU$25K. However, immediately after the quarter ended, payments of approximately AU$169K were made in relation to exploration expenditure.
- Vitalharvest Freehold Trust (ASX:VTH)
Vitalharvest communicated that a short while ago, VTH RE Board had received a further modified proposal from MAFM to acquire all units in VTH for AU$1.26 per unit or the assets for AU$348.1 million. Other than the price, the amended MAFM Proposal is expressed to be on the same terms as the scheme implementation deed announced on 26 April 2021.
- Simble Solutions Limited (ASX:SIS)
Simble Solutions has signed 3-year agreement with leading solar energy provider to provide solar and energy metering software platform and apps coupled with third party energy IoT devices. The minimum commitment to rollout SimbleHome App and related IoT metering devices to 500 residential homes would result in revenues in excess of AU$260k over the term of the agreement.