PortfolioDirect Top Five Stocks of Week Ending December 15, 2017
Week ended 15 December 2017
THEME OF THE WEEK: Batteries
Laramide Resources, a Canadian-listed company with uranium exploration interests in Queensland and north America, barely trades once a month in Australia through its Chess Depositary Interests leaving it with an Australian market value of less than $1 million. On its home exchange, the company has produced a return of 126% since late October and 44% since the end of November. The illiquidity in the Australian market often means local price action bears little relationship to what is happening on its home exchange although the recent move has brought the two prices more into line than had been the case for several months. Verdict: Steak.
Legend Resources announced anomalous nickel-copper-cobalt assays at its Fraser Range property. The company compared its results favorably with those from the Nova-Bollinger discovery at an equivalent time in its exploration program. After spending $1.2 million in the September quarter, the company retained cash assets of $5.4 million positioning it well to further its exploration interests. Verdict: Steak.
Global Geoscience announced that it had successfully demonstrated a heap leaching process for its Rhyolite Ridge lithium-boron mineralisation in Nevada. The approach potentially reduces capital and operating costs associated with the project. The results will be an input into a feasibility study being prepared for the company which already has a market value of $426 million in anticipation of development. Cash assets amounted to $5.6 million at the end of September 2017. Verdict: Sizzle.
Anson Resources confirmed that it was on track to produce its first lithium carbonate in April 2018 at its proposed project site in Utah. Although supposedly nearing production, the company also highlighted that it was only just about to commence its first stage drilling program. The drilling will access a historical oil wellhead to reach brines for sampling. The company held cash assets of $1.2 million at the end of September 2017 after having raised $1.2 million in new funds during the quarter. Verdict: Sizzle.
Comet Resources announced that it had commenced drilling for graphite at its Springdale property in Western Australia. The company also said that it would target potential cobalt-nickel mineralisation. The move has pushed the company’s market value to $23 million. The company had $1.6 million in cash on hand at the end of September 2017 after having raised $0.6 million during the preceding quarter. Verdict: Sizzle.
