In Case You Missed It: Communications and fintech acquisitions abound
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Stockhead’s In-Case-You-Missed-It highlights today’s most interesting small cap stories that might have slipped beneath your radar.
Below is a wrap of the top 20 performing stocks, by percentage, who made announcements today.
|Code||Company||Price||% Today||Market Cap|
|SYM||Symbio Holdings Ltd||2.64||17%||$193,522,883|
|SOV||Sovereign Cloud Hldg||0.11||16%||$32,243,064|
|AAR||Astral Resources NL||0.091||11%||$64,772,679|
|JGH||Jade Gas Holdings||0.033||10%||$30,186,126|
|TMG||Trigg Minerals Ltd||0.011||10%||$2,013,846|
|G88||Golden Mile Res Ltd||0.036||9%||$10,869,854|
|SLZ||Sultan Resources Ltd||0.026||8%||$3,556,561|
|TSK||Task Group Holdings||0.42||8%||$138,425,755|
|IDT||IDT Australia Ltd||0.064||7%||$21,011,349|
Top of the charts today was cloud communications company Symbio Holdings (ASX:SYM) after Superloop (ASX:SLC) delivered an Improved, Best and Final Offer for 100% of the company, a 50:50 cash and scrip consideration of $2.85 per share.
100% of financial services company Diverger (ASX:DVR) is getting picked up by another financial player in Count (ASX:CUP) under A Scheme of Arrangement which implies an equity value of $45.3m.
5E Advanced Materials (ASX:5EA) has been given US EPA approval to conduct step-rate testing under its existing permit for its planned Boric Acid production project.
Netlinkz (ASX:NET) is looking to enter into a second senior note facility with shareholders to raise up to $12 million to repay existing short-term debt and to fund expansion of its global Starlink satellite and NaaS business into Southeast Asia, MENA, South America and other international markets.
And cyber security company Sovereign Cloud Holdings (ASX:SOV) reported a net loss for FY23 of $21.3m but grew revenue to $6.8m – up from $4.7m in FY22.
Mako Gold (ASX:MKG) says assays from the circa 800m RC drill program on the Napié project confirmed gold mineralisation persists at depth at the Gogbala South prospect, plus geological mapping and rock-chip sampling is underway ahead of planned metallurgical test work at the Korhogo project in Côte d’Ivoire.
Sultan Resources (ASX:SLZ) has flagged a priority exploration target within the interpreted Lithium-Caesium-Tantalum (LCT) ‘Goldilocks Zone’ after receiving assays from its Ruddy project in Canada.
Biopharma player Dimerix (ASX:DXB) has received regulatory approval from the National Pharmaceutical Regulatory Agency to expand its Phase 3 ACTION clinical trial in Focal segmental glomerulosclerosis (FSGS) kidney disease into Malaysia.
At Stockhead we tell it like it is. While Charger Metals, Mako Gold, Sultan Resources, Dimerix, Maximus Resources, and Netlinkz are Stockhead advertisers, they did not sponsor this article.