Updates to the last multi post listing and some changes and additions (in red) with everything in a bit more order. Thanks again to @Jako64, @Klue@pilsner for the original list and to the many others who have contributed since early 2015.
ACL - Biotech shell, retains rights over some old assets and was readmitted for trading recently. As well as monetising their existing products, they are "..Actively seek out business development opportunities within the broader life sciences sector. Through the activities of its board members, the Company has had numerous discussions with other participants in related fields to discuss possible mergers, acquisitions, in-licensing and joint-ventures..." Cash at end of June 2016 was $1.8m, Market Cap $2.9m
AJC - Board restructures late last year, looks like an Argonaut play. Nice looking top 20. As at June 2016 "..The Board continues to review and evaluate a number of potential investment opportunities.." $1m cash and $3.5m market cap.
AGS - Unmarketable share facility cleaning up the register. New chairman recently. Lots of very upset holders. $25m cash and $175k worth of AYC shares. Market Cap $17m with existing mineral prospects as well, nickel-copper-gold, gold and bae metals.
June 2016 quarterly update "..During the quarter, the Company has been reviewing acquisition, farm-in and ground acquisition opportunities in New South Wales, South Australia, Western Australia, Queensland and Victoria. This work is continuing..."
APY - Had planned to buy an Israli based gun magazine tech but deal fell through. Cost $400k in transaction costs, back to a cash backed shell. ~$8m Market Cap, $6.6m cash - looking for a new deal now.
Risk of suspension even before a deal though as they sold their O&G assets and time is ticking.
"..The Company continues to evaluate new opportunities and investments in all sectors. The Company is highly likely, as a condition of any future investment, to be required by the ASX to obtain shareholder approval for any new investment. .." June 2016 Quarterly.
AR1 - Market Cap $3.5m, $900k cash - As at June 2016 "..During the quarter the Company continued to contain costs further to preserve cash whilst undertaking an active process of identifying and assessing new project and business opportunities..." but will likely still be in resource. CPS Capital involved, been on the hunt for quite a while now.
ARO - Look to be sticking resources, June 2016 update "..During the quarter, the Board also reviewed a number of acquisition opportunities in the exploration sector and the Board is pursuing certain opportunities that are attractive not only from a geological and strategic point of view but also come with management and funding. Further details will be made available as and when anything arises. .."
$1.7m Market Cap only $21k cash with Capital Raise (SPP happening at the moment).
AVD - Market Cap $3m cash $1.8m with potentially another $1m one redeemed. Recent CPS placement at 2c raising $1.7m Company still saying O&G as the moment but new directors on board might be worth following.
BBR - Rights issue at 6c recently completed, Vertitas on board and underwrote issue. ~$2.5m cash, $3m market cap and very low share on issue, less than 50million after the rights issue. As at July 2016 the company ".. continues to review new opportunities, both within and outside of the mining sector.."
BNR - Having sold its remaining interest in Nicolsons to PNR, its now officially back to a shell. Market Cap $5m with $5m+ in cash and shares in PNR. As at June 2016 "..It is the Company’s intention to repeat the process of rewarding shareholders by the identification of a new project and to that end has commenced reviewing other opportunities in the resources sector..." BSN - Chequered history, suspended for failing to lodge accounts. Relisted. Consolidation of capital in August 10:1 and raising planned at 0.4c (currently trading at 0.3c) New holders and directors back in April, things might finally be moving.
BSP - Out of money, starting to draw on a $500k loan facility. Oiler, potentially changing "..The Board is currently undertaking a review of the Nebraska Oil Project as well as considering various recapitalisation strategies. No decision has been made yet. .." Market cap of $2.1m
BXN - Biotech with cashflow. $2m revenue for 2016, $1m+ cash balance. Market Cap $5m.
"..The Board continues to actively investigate further growth opportunities and new markets for its patented probiotic, PCC® to enhance shareholder value. .." June 2016 Quarterly, although this is similar to previous reports also.
BMG - Board changes April 2016. Sold down most of its minerals stake/projects.
June 2016 quarterly.. "..BMG remains committed to securing a new business opportunity. The Company is currently reviewing a number of potential opportunities in the resources and non-resources sectors and is evaluating capital initiatives.." Low cash burn, but no money left. $30k end of June 2016 so raising is happening some how, Market Cap $800k Low shares in the float only ~60m so nice structure.
CAE - $400k cash, $2.8m market cap. Working through aquisition of "little treasure" baby formula, however also looking at other options "..The Board is currently working through the usual commercial discussions that occur when transactions are contemplated. The company has stated its plan to diversify from being solely exploration activity focussed for some time. The board will inform shareholders regarding the status of the Little Treasure and any other transaction as required..."
CBS - CPS recapitalised company in the last few months. Market Cap $3.7m, $1.2m cash. Very high admin for a company not doing much, spent $400k last quarter - perhaps relisting costs. Listed options with a 4c strike. "....Cabral will continue to perform due diligence on its tenements and will update the market accordingly. As per the Prospectus released in March, Cabral also continues to assess new opportunities that will add shareholder value..."
CCZ - 1:4 consolidation in May 2016, Board changes in May 2016 and new Secratary in July things might be moving. June 2016 "..The Company continues to appraise new project opportunities both within Australia and overseas.." $3m market cap, $200k cash left and spending $100k a quarter so will be raising funds with whatever they end up doing.
CDT - June 2016 quarterly, "..Resources, Management reviewed several Australian and international project opportunities spanning a range of commodities with the objective of securing a new focus for the Company.." Directors taking shares in lieu of salary, although no cash so not many other options! $2.1m market cap, $200k cash left.
CHZ - Some token looking mining efforts, their June 2016 quarterly "..In addition to the Company’s investment in the Mithril JV, the Chesser Board is continuing to review other investment opportunities that are available to the Company. The focus of this review is identify investment opportunities that meet the Company’s investment criteria and is not restricted to specific sectors or industries..." Market Cap $4m cash also $4m and low burn (less than $100k / quarter).
CIZ - Matt Walker Cicero shell, changed name already but been looking for a long time.. June 2016 quarterly reads much like those prior "..The Company continues to review and appraise new commercial opportunities both within and outside the mining sector and will advise the market of any developments in this regard if and when they eventuate..."
$2m cash and Market cap of $6.3m
CLA - Failed acquisition of 'Favourit Global' and now going back into mining.. Suspended so has to get its house in order first one presumes. Only $22k cash, but market cap less than $1m so could be interesting ones it relists. Not a shell anymore though.
DAU - June 2016 update: "..Completion of the sale of the Project will give Dampier unencumbered >$4M in cash, the prospect of additional cash payments and a royalty stream with the development of the Project. During the quarter, Dampier reviewed several potential new business acquisitions. Assessment of other acquisition opportunities, as and when they may arise, will continue..." $2.7m Market Cap, will have more cash than market cap and looking for new things.
DDD - June 2016 quarterly: "..The Company has actively reviewed a number of project opportunities to provide the company with a better platform for the future..." Low cash burn, low cash left ($200k) but market cap only $1.5m Looks to be staying resources even if they aquire something new.
DMG - Recently purchased a small gold interest for a few hundred thousand, but presumably still looking for other things - $3.5m cash, $4.2m market cap.
DTR - Virtually dormant resources player, most prospects in Fiji. Mostly of note due to SXX buying up a stake in the company, only $70k cash but market cap is $1.2m - plans unknown.
DRG - Raised cash Feb 2016, board changes late July. $2m cash $3.5Market Cap, July quarterly: "..During the quarter the Company continued to look for and assess new investment opportunities..."
EFE - $1.5m cash at end of June 2016 quarter, Market Cap $3.5m, June quarterly update "..Eastern Iron is actively reviewing opportunities to acquire a substantial near development or operating resource project for base or precious metals. .."
EMG - Back in mid 2015 the company was looking at deals in the "IT and Biotech sectors" then lots of director changes, sell downs and confusion. Has traded up down and sideways since. More recently they focus is on "projects in the IT and Agricultural sectors" with Chinese shareholders on board.
June 2016 quarterly "...assessment and evaluation of opportunities in the technology sector and also the agricultural sector, with a particular, but not exclusive, focus on opportunities in Asia given the strong support for this new direction by the Company’s cornerstone Chinese investors. In this regard, during the quarter the Company actively reviewed a number of projects and assessed new projects in the agricultural sector. The Company appreciates that this process is taking an extended period, however this is a result of EMG’s desire to undertake a high quality investment..."
$1.8m cash in June 2016 and Market Cap around $3m
EMU - Resources play, smashed hard after some bad results and they stopped exploring there. $4m Market Cap, $2m cash - June 2016 quarterly "..Consistent with previous statements by the Company, Emu continues to look for new mineral exploration, development and mining opportunities within Australia and at various overseas jurisdictions..."
EQX - "..Equatorial is in a strong financial position with significant cash reserves and no debt. At 30 June 2016 the Company had cash reserves of A$40.4 million. In addition to maximising the value of existing assets, the Company continues to identify and evaluate resource projects which have the potential to build shareholder value. During the quarter, Equatorial assessed a number of new business opportunities and will make announcements to the market as appropriate should an acquisition occur.." Market Cap $41m @ 33.5c so whatever they do can/will be big.
ESR - $4m market cap, resources player looking to potentially commercialise a University tech (IOT) product. $1m cash and retains its Chilean copper prospects. June 2016 quarterly; "..During the quarter the Company reviewed a number of opportunities in both the resource and non‐ resource sectors..."
FRN - Been trading and soaking around its relist/recap price of 2c for several months now. Likely to continue in the resources space. Nice looking list of Top 20 on relist and additional sub holders accumulating more in July. Over $3m in cash, market cap $5.2m "..During the Period, the Company continued to progress its exploration strategy across the Fraser Range Project, with targets for gold and nickel mineralisation identified and planning proceeding for the next phase of activity, which is expected to involve low level or ground based geophysical surveys.."
GBP - Global Petroleum. Cap $6m / No debt / cash A$13.5m. Waiting game. Neg EV $8m or trading at circa 45% of cash low SOI 201m From @Sector Lead.. here
GED - June 2016 update looks to be staying resources. No money left in the kitty. $1.5m Market Cap.
GGE - Oil and Gas producer, previously said they would be selling their assets to persue other opportunities - now said they are keeping them whilst exploring. $3.7m Market Cap, $3.2m cash and monthly revenue ~$200k. Top 20 holding 50%+ June update "..the Company is assessing these opportunities with a view to increasing its production and reserves.."
GTR - Was on a Fibo list of shells in July 2015, out of money now but planning on staying in resources. July 2016 "..During the quarter the board continued preliminary discussions with interested parties relating to a recapitalisation of the Company, staying as a mining company so as to advance mining interests in Western Australia. .." $1.3m Market Cap (up from under $1m last month) but will need to raise cash, less than $20k in the kitty.
HLS - Not indications of change in direction, noteworthy only because of its tiny market cap. Legal funding services with a Market Cap of $800k no money left but have funded legal cases worth at least as much as the MC so a win could be interesting.
HOG - Divesting oil and gas assets in Ukraine, will provide them with ~$1m cash, Small raising at 0.3c recently and engagement of a lead manager to help find new opportunities. Market Cap ~$2m.
"..On 14 March 2016, Hawkley announced that it had engaged Merchant Group (“Merchant”) to act as lead manager to seek new opportunities for the Company following the sale of its Ukraine assets..."
IND - Market cap $1.9m cash $1.5m "..The Company continues to review several project opportunities. During the quarter the Company advanced negotiations on two acquisition opportunities, both in the gold sector. " having not been able to et to acceptable terms.
INK - Share consolidation complete and recapitalised and change of name. $6m market cap and $4.9m cash, as at June 2016 "..Indago continued to review several new projects for acquisition and/or investment. At the time of this quarterly, several of these were under detailed review. .." IPB - Oiler, "..As at 30 June 2016 the Company held approximately $ 0.77 million in cash with no debt..." Philip Kenneth Naylor became a sub holder in May 2015. Market cap less than $2m looks to be staying O&G.
KIK - lots of trading and speculation over the last few months. Big holders leaving and arriving then got suspended.. "..The Company’s securities were suspended from the close of trading on 27 May 2016 due to the inability of the Company to find a suitable investment opportunity within the 6 month timeframe set by the ASX to re‐ comply with listing rule 12.1..." $2m market cap and ~$100k cash.
LIN - Recently abandoned its Philippines project and main undertaking so officially on the hunt. $250k cash at end of June quarter, $1.4m market cap and last update: ".. Lindian completed its buy-back of less than marketable parcels of fully paid ordinary shares at a buy-back price of $0.0014 per share. A total of 29,130,377 shares were acquired and cancelled. Lindian continues to assess new opportunities that add value for shareholders..." Trading at 0.1 and 0.2c.
LSN - Very tight structure although not much cash left, 50million shares on issue. $2.7m market cap, $500k cash Simon O'loughlin chairman and shareholder, July 2016 update "..The Company remains in a strong position to attract new projects having a tight shareholder base, low expenditure obligations and with a solid cash position..."
MOL - Another big Cash-Box, cash increasing.. currently $65m. "..Moly Mines continues to review a range of M&A opportunities both within Australia and overseas and has undertaken a significant amount of due diligence on possible opportunities..." Board changes in May 2016. Market cap $25m.
MPO - Molopo Energy. Cap $30m/ No debt/ free cash A$57m (Contingent liability held in $CAD on top of this). Very close to acquisition. Negotiating now as in last Q Neg EV $27m or trading at circa 55% of (available) cash low SOI 249m - Thanks @Sector Lead.
MRR - Recent placement and rights issue to raise more cash, and now "..The Company is continuing to assess a range of corporate opportunities and this work will continue through the coming period. MinRex is in a good position to consider commercial opportunities as a result of the Company’s cash holdings which give it the flexibility to consider such opportunities..." $800k cash, Market Cap $3.3m - staying resources most probably.
NME - No quarterly for June 2016 yet but three months ago the company "..continues to have projects presented to it for evaluation during the past quarter extending from Gold, base metals, copper and diamonds. The Company takes the view that in the current commodities market that projects need to show exceptional value for the Company to proceed to any type of acquisition arrangement. .." and back then had $100k cash - current Market Cap $2.2m
NYO - Dual listed resources junior, recent board upset with new team suggesting FinTech or something different might be on the cards. London Stock Exchange speculative traders play. "..The directors have looked at several opportunities in a variety of business segments and it will conclude the process of selecting potential transactions in the Q1 FY17 quarter. Any transaction may not be completed until Q2 FY17..." and suggest that they aren't paying for their resources costs and rights may lapse. $500k cash, $1.8m market cap but trades on the ASX @ 0.1c
OOK - Bought a tiny fintech product but cashed up looking for more things. Potentially first aquisition was just to relist in the right sector and get paperwork sorted out. New listing rules might have made that less worthwhile though.. $6.5m market cap, $3m+ cash. As at March 2016 "..The Company is also currently evaluating a number of complementary business acquisitions that may have the potential to create additional shareholder value..."
PEL - Changes to sub holders recently, continuing to look at divesting many of their resoruces interest. June 2016 quarterly. "..The Company continues to actively investigate new business development opportunities with a focus on low entry cost projects. As and when acquisitions are completed, the Company will make announcements to the market at appropriate times. .." $2.8m Market Cap, $900k cash but CF+ in the latest quarter.
PTR - Failed to complete GooRoo HR tech deal. Back to a shell, or maybe geothermal energy, or maybe they are saying that to stop the ASX suspending them. Who would know.
June 2016 status update "..New projects are being actively pursued that will lead to enhance shareholder value. .." Taylor Collision on board and still seem to be picking up any straggler sellers. $2.3m market cap and $600k cash.
RRP - Coking Coal and Platinum assets are looking more valuable now and the company generates cash, although negative flow last quarter. Major holder has 90% though - Market cap $2.3m, $500k cash. "..Business development activities focussed on seeking new resource sector investment opportunities, particularly those with near term cash generation potential as well as enhancing and/or realising the value of Realm’s assets.."
RTR - Jason Peterson getting on board, as at June 2016 quarterly "..The Rumble board continued with its strategy to proactively identify and review potential acquisition opportunities to complement the Company's existing projects and activities, as well as opportunities in other sectors.." Recent rights issue was 95% not taken up.. $1.4m cash and Market Cap of $4.2m
SAY - Stopped dealing in resources and last quarterly says "..During the quarter, the Company has continued to actively identifying a range of new opportunities, which may well include opportunities beyond the Company's traditional resource sector. We are currently reviewing and assessing those opportunities. .." $1.8m market cap and $250k cash.
SBR - $3.5m Market cap after the price nearly doubled as new sub holder joined the register this month. Contango Nominees, Look to be sticking with resources for now. No cash left so a raise is on the radar.
SPI - Contentious history but some new directors on board and looking at new things. $5.8m market cap and $2m cash after a 2c placement in March 2016. Quarterly update ".. the company is now focused on identifying new opportunities within the minerals sector..."
SPX - Failed medico/biotech deal, back to resource exploration again. No longer really a shell "..Spectrum has now refocused on investigating other mineral exploration opportunities..." $250k cash and market cap $1.5m
SUH - Mining Tiddler, recently raised $800k. $640k cash left at 30 June 2016, Market Cap $1.3m Qtly update "..The Company will also market its other prospective concession holding; the Rincon Project, as well as considering other opportunities in the resources sector. .."
SXX - Mixed bag of holding including Uranium and other resources. Common directors across DTR who they are buying into as well, Directors buying up most shares that are sold into 0.3c - June 2016 quarterly "..Examination regarding possible participation in a number of new projects and maintaining and reviewing the Company's existing projects were the principal activities during the quarter. Considerable effort was given to the development of further opportunities, a number being examined, but discarded as not being in the best interest of SXX shareholders. .." $2.5m cash, top 20 hold over 80% - market cap $7.5m
MSI - Virtually untraded. "..The Directors are continuing to review the various opportunities for the Group and have been actively identifying potential investment opportunities in both the People’s Republic of China as well as in Australia..." Market cap less than $500k but if someone bought the only parcel on offer, this would change to over $6m !
WFE - Recent rights issue at 0.002, appointment of corporate advisory firm, failed acquisition earlier in the year of a tech company - back to their iron ore assets and "..The evaluation of resource exploration opportunities, including conducting due diligence on any targeted investment;.." as at July 2016. $1.6m market cap and $600k cash.
ZAM - Long time looking, resources player likely to move outside the sector. June 2016 update "..The process of identify and evaluating potential business opportunities continued during the Quarter. Of the many opportunities which have been presented to the Company to date, a small number have had merit..." $3m cash and market cap $4m
ZTA - Petroleum player, recently announced recapitlisation plans. Rights issue and cornerstone investor. A @minoil special, super low shares on issue - cash around $100k market cap $800k (last week it was $500k).
There are plenty more out there as well.. happy beachcombing XEC'ers.
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