Five Penny stocks that created buzz on the ASX today

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Five Penny stocks that created buzz on the ASX today

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 Five Penny stocks that created buzz on the ASX today
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Summary

  • Antipa Minerals successfully raises AUD 3 million under an oversubscribed SPP
  • Austin Engineering to move headquarters, CEO steps down
  • SECOS provides update on biopolymer plant in Malaysia
  • Ainsworth gains on GAN deal and upbeat FY21 outlook
  • 92 Energy (ASX:92E) expands in Canada, acquires two new project areas

The S&P/ASX 200 is up gaining 37.90 points or 0.54% to 7061.50 at 12:11 PM AEST on 18 May 2021. Nuix Limited (ASX:NXL) and Perseus Mining Limited (ASX:PRU) were among the top-performing stocks in this index, gaining 8.60% and 7.23%, respectively.

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6 of 11 sectors are trading higher along with the benchmark Index. Materials is the best performing sector, gaining 2.16% and rebounding from its recent decline.

Well, on that note, let’s have a look at five penny stocks creating a major buzz on ASX today.

Also Read: ASX 200 Today:  Gold, Iron Ore Miners Push Market Higher For Third Straight Session

Antipa Minerals (ASX:AZY) successfully raises AUD 3 million under an oversubscribed SPP

Mineral exploration company Antipa Minerals Ltd (ASX:AZY) has successfully completed a Share Purchase Plan (SPP) which received strong support from eligible shareholders and was significantly oversubscribed.

In totality, the Company raised AUD25 million (before costs) through the Placement and the SPP.

AZY plans to utilise these funds towards meeting AZY’s share (35%) of the Citadel Joint Venture CY21 exploration expenditure.

Besides this, funds shall also be used to finance progressing exploration activities at its fully owned Minyari Dome Project and to meet general working capital requirements.

The AZY stock was trading at AUD 0.042 on 18 May 2021 at 11:38 AM AEST.

Must Read: Five ASX penny stocks that are delivering high returns

Austin Engineering (ASX:ANG) to move headquarters, CEO steps down

Austin Engineering Limited (ASX:ANG) announced it will be relocating its headquarters from Brisbane to Perth.

As per the Company. This move acknowledges the magnitude of the Company’s operations in Western Australia and Asia. It should be highlighted that these areas are the biggest profit churners for the Company.

Also, the Company announced, current CEO and Managing Director Peter Forsyth will be retiring effective 31 July 2021.

The stock ANG was last trading at AUD 0.145 per share at 11:38 AM AEST.

Also Read: Are These Two ASX Growth Stocks Poised For A Good 2021?

Source: © Apartura| Megapixl.com

SECOS (ASX:SES) provides update on biopolymer plant in Malaysia

Eco-friendly bioplastics developer SECOS Group Limited (ASX:SES) provided an update on the progress of its manufacturing new biopolymer plant expansion in Malaysia.

Key highlights:

  • Since the new lease has been signed in March 2021, the Company reported the installation of new compounding, film and bagging lines is on track.
  • The plant fit-out has been completed in accordance with local and international manufacturing standards, and the first shipment of new manufacturing assets has also reached.
  • Also, besides installing film and bag lines maker, SECOS has established a new compounder at its current biopolymer resin plant to aid the increased production of finished products and to meet the demand of resin sales globally.
  • Collectively, both plants will produce around half a billion compostable bags in a year.

The stock SES was last trading at AUD 0.235 per share at 11:38 AM AEST.

Also Read: Sustainable packaging business SECOS Group (ASX:SES) to expand capacity in Malaysia

Ainsworth (ASX:AGI) gains on GAN deal, upbeat FY21 outlook

Shares of gaming machine maker Ainsworth Game Technology Limited (ASX:AGI) gained as much as 9.2% to AUD 0.983 per share on Tuesday.

The Company stated it has partnered with internet-based interactive gaming services provider GAN Ltd.

As per AGI, under the agreement, Ainsworth will provide GAN with exclusive use of current and future Ainsworth real money online game assets within the United States for a minimum guaranteed consideration of AUD 30 million.

AGI sees FY21 group underlying Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) to be about AUD 19 million, compared with AUD 4.2 million in FY20.

The Company also expects to report a profit before tax of approximately AUD 1 million for H2 FY21, compared with AUD 50.1 million loss in H1 FY21.

On track to post a fourth consecutive session of gains, AGI is up 87.5% this year, as of the last close.

Interesting Read: What Ainsworth Game Technology expects in 1HF21 results

92 Energy (ASX:92E) expands in Canada, acquires two new project areas

Uranium exploration company 92 Energy Limited (ASX:92E) shared that it has extended its portfolio of projects with the nailing of two uranium exploration projects encompassing 23,000 hectares, located in Saskatchewan Province, Canada.

Key highlights:

  • While there has been a crucial exploration in and around the project areas in history, most of this was performed before the 1980s and without the use of modern techniques.
  • The historical explorations had found numerous cases of outcropping uraninite veins.
  • Initial analysis suggests the new projects have potential for shallow, basement-hosted unconformity-type uranium deposits.

The last traded price of the stock 92E was AUD 0.305 per share at 11:38 AM AEST.

Must Read: ASX trades higher on strong gains in energy space; Ampol, Viva lead

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