Market Wrap – ASX micro to small-cap resources stocks
02 Feb 2015
The top riser of the day on ASX micro to small-cap resources stocks was Sovereign Gold Company Limited (ASX: SOC) up 100% to close at $0.010. The company’s Mr Peter Meers resigned as Director and Mr Bruce Dennis was appointed a Director. On 11 November 2014 shareholders approved the issue of 44,200,000 shares as consideration of the Mount Adrah Gold Limited acquisition valued at 19.2 cents per share. Consideration of the offer was four company shares for one Mount Adrah share. The company currently holds 99.5% ownership of Mount Adrah. The company had a total of $12,000 in cash at the end of the December 2014 quarter.
The worst performer of the day was Altona Mining Limited (ASX: AOH) down 57% to close at $0.100. The company transferred ownership of the Finnish Operations on 1 October 2014 resulting in no mining activities during the December 2014 quarter. The company will pay $0.15 per share in Capital Return and Special Dividend to shareholders on 12 February 2015. The company had a total of $128.7 million in cash at the end of the December 2014 quarter.
Resources Stocks to Watch (RSTW) is the leader in research on ASX micro to mid-cap mining stocks and commodities. We are independent and therefore not sponsored by the mining industry so we tell it like it is. Our research is written by experienced geologists and resources analysts, the experts in the field.