With US equities showing no sign of weakness, ASX shares are also poised to begin the week on a positive note. However, a weaker trade figure from China weighed the ASX, and the shares were down slightly at the close of today’s session. Three stocks from diversified sectors that went up on the ASX radar are as follows.
PACIFIC BAUXITE LIMITED (ASX: PBX) – The company recently advises on the appointment as an Executive Director of Mr. Suraj Sanghani to the Board of Directors. To resolve the matter for the benefit of the company and other stakeholders, the JVC representatives and company will continue to pursue all available options aggressively and pursue out-of-court negotiations.
Driven by China where a substantial fall in domestic reserves, quality/grades and production will require an equivalent increase in bauxite imports, the near future for bauxite remains positive. The stock price went up 25% to trade at $0.015 with positive news. This year’s results are broadly in line with the previous year except for an increase in the exploration expenditure.
PHARMAUST LIMITED (ASX: PAA) – A clinical stage oncology company PharmAust Limited, is engaged in collaboration with the Olivia Newton-John Cancer Research Institute and has announced important findings confirming anticancer activity of monepantel’s major metabolite, monepantel sulfone. PharmAust is currently studying for treatment in its upcoming Phase II trial in humans; the human anticancer market is expected to be $155B (USD) by 2025. The company has no debt in hand with cash and cash equivalents at the end of the quarter September 2018 was $1.452 million. The stock price went up 7.692% to trade at $0.042 and has also had a performance change of 11.43% in three months. The equity value of the company is $7.76 million.
FBR LTD (ASX: FBR) – Informing about their strategic direction, FBR has conducted international market research, extensive financial modeling, both internally with their team and with industry experts with access to global data. FBR will enable brick and block manufacturers, to build walls on demand for their customers the company introduced WaaS. The company is now free to discuss opportunities regarding DST and Hadrian X technology and supply with interested parties. The company Caterpillar will divest from FBR in due course its current 2.13% shareholding, however, even after the dissolution both the parties are open to future business opportunities together. The stock price went up 21.429% to trade at $0.085 and has also had a performance change of 118.75% in 60 months.
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