With ASX closing in green at 5928.2, some of the stocks followed the lead and trended upward. Australian shares have climbed up on the back of US midterm results and ASX finally closes at a 3-week high. Some are calling it what was much awaited, a correction in the markets. Let’s see some of the stocks that benefitted from this uptrend.
ESPORTS MOGUL ASIA PACIFIC LIMITED (ASX: ESH) – The company has announced it will organize and stage online esports tournaments for Asia’s largest global esports championship series, ONE eSports. The company, however, made a net loss $1,715,976 for the half year ended 30 June 2018. The company’s total asset are $6,901,362 and total liabilities are of $76,123 which signifies the company’s ability to clear its long-term obligations. The total current assets are of $5,488,024 while the total current liabilities of the company are $76,123 which means the company has enough to cover for the short-term obligation. By the end of the period, the total shareholders’ equity was $6,825,239. As at November 8, 2018, the stock of AJM traded higher at a market price of $0.026, it has witnessed a performance change of 35.29% over the past one year with a market capitalization of A$29.19 million.
AURIS MINERALS LIMITED (ASX: AUR) – The Group recorded a loss of $1,317,036 for the year ended 30 June 2018 compared to the 2017 loss of $884,710. The loss includes an impairment adjustment for exploration and evaluation expenditure of $364,813 compared to 2017 of $254,115. The directors have not recommended the declaration of a dividend and no dividends were paid or declared during the current or prior period. The Group had net working capital of $3,971,818 compared to the 2017 of $2,567,845 which is positive for the company. The Group’s net asset position was $20,914,119 compared to 2017 of $17,651,481. As at November 8, 2018, the stock of AUR traded 25% higher at a market price of $0.050, it has witnessed a performance change of -32.22% since inception with a market capitalization of A$408.68 million.
KINGSTON RESOURCES LIMITED (ASX: KSN) – Kingston resources at its 75%-owned flagship Livingstone project in Western Australia during follow-up drilling with significant gold mineralization, at the high-priority Kingsley gold target has been intercepted. Kingston reported a statutory after-tax loss of $5,750,302 as compared to 2017 loss of $1,153,471. Compared to FY17 the increase in the FY18 loss is largely the result of the $3,552,901 impairment to the company’s remaining lithium exploration assets and the $408,444 loss on the sale of the Mt Cattlin lithium tenements. The company had a merger with WCB resources and Trillbar resources this year. As at November 8, 2018, the stock of AUR traded 20% higher at a market price of $0.024, it has witnessed a performance change of 355.84% since inception with a market capitalization of A$24.46 million.
TREK METALS LIMITED (ASX: TKM) – The outstanding first pass metallurgical results have been received from a composite sample of what would be a typical ore from the Dikaki Channel, at its flagship Kroussou Project in Gabon as per latest announcement, confirming the Kroussou Project is capable of producing world?class lead and zinc concentrates. The company has now completed the acquisition of a 100% interest in the highly prospective Kroussou Zinc?Lead Project in Gabon from Battery Minerals Limited (ASX: BAT) (formerly Metals of Africa Limited). It had cash and cash equivalents at end of the period i.e. current quarter of $240,000. As at November 8, 2018, the stock of TKM traded 20% higher at a market price of $0.012 which is close to its 52-week low, it has witnessed a performance change of -99.85% since inception with a market capitalization of A$4.38 million.
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