Last Orders: What you might have missed on the ASX today
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MicroStrategy, two months ago: “We’re going to give this Bitcoin thing a go.”
MicroStrategy, today: “We’ve made more money in the past two months than in the previous three and a half years.”
Yes, it’s another Bitcoin update. This time the winner is 20-year-old US business intelligence specialists MicroStrategy, which took a punt at the start of the last quarter by buying $US425 million in BTC.
Here’s how Q3 worked out for them in these turbulent, Covid-hit times:
Microstrategy has earned $78 million in the last 3.5 years from their business operations.
Microstrategy has earned $100 million in the last 2 months from their Bitcoin purchases.
— Kevin Rooke (@kerooke) October 27, 2020
Back to some of the traditionalists – making money the proper way – that you might have missed on the ASX today.
– Moho Resources (ASX:MOH) has given an update on progress on its Far North Queensland hydrogeochemistry borehole and waterbore sampling program at the Empress Springs project.
A $112,000 state government grant was used for the study (in collaboration with the CSIRO) to analyse waters beneath the cover rocks from existing water bores throughout Moho’s 11 Empress Springs tenements.
The aim of the project is to find chemical signatures evidencing large mineralised systems.
Samples have now been collected and metal analyses and other local analytical results are expected in November 2020. Gold and isotope results are expected in early 2021.
– Earlier this week, we saw Zebit (ASX:ZBT) fail to lift off on the premise of being the BNPL for “credit-challenged” customers. Today, Credit Clear (ASX:CCR) jumped into the gap where investors who want to make money off a BNPL, but are a bit edgy about the people who use BNPLs, have been hovering.
Credit Clear is a receivables management solutions provider, which means it works for business clients to collect unpaid money owed by their customers. So, it’s been a good quarter or two to be collecting potential revenue from all those shiny new BNPL users.
Credit Clear jumped 47% on debut, to 68 cents.
– It’s been a while since we heard from satellite launcher Sky and Space Global (ASX:SAS). Once riding high in the 20 cent region, it flatlined at 1.6 cents this time last year after promises of being “close to securing funding” never eventuated into anything meaningful.
Guess what? Today, S&S landed a three-year $3 million launch services and consulting agreement with Virgin Orbit. Virgin Orbit will be granted 7 million three-year options in SAS, exercisable at $0.40 each, and will also be entitled to appoint an observer to the SAS board.
Back out Thursday:
Adriatic Metals (ASX:ADT) – capital raising
VRX Silica (ASX:VRX) – mining lease application
Liontown Resources (ASX:LTR) – capital raising
Toro Energy (ASX:TOE) – exploration update on its Yandal Project
HGL Limited (ASX:HNG) – capital raising
Red Mountain Mining (ASX:RMX) – project update, acquisition and conditional capital raising
McPherson’s (ASX:MCP) – equity raising and associated acquisition
Cauldron Energy (ASX:CXU) – capital raising
MetalsTech (ASX:MTC) – exploration results
Resources & Energy Group (ASX:REZ) – capital raising
Back out Friday:
Buddy Technologies (ASX:BUD) – legal proceedings
Pilbara Minerals (ASX:PLS) – acquisition
Xplore Wealth (ASX:XPL) – acquisition
HUB24 (ASX:HUB) – capital raising