Troy Resources Ltd
Record gold production at Karouni in the March 2018 quarter: Troy Resources Ltd.’s (ASX: TRY) stock surged 11.63% on April 09, 2018 after the company achieved record gold production of 21,703 ounces at Karouni in the march 2018 quarter. The March 2018 quarter production is in excess of budget, 35% higher than the December 2017 quarter production of 16,109 ounces and 8% higher than the previous record quarterly production of 20,195 ounces posted in the March quarter 2016. This excellent result was achieved due to the excellent grades from the Smarts 3 pit along with a strong performance by mining and processing, Therefore, the production budget for future quarters is set at an amount slightly below than the March 2018 quarter. The group has also completed a 34- hole reverse circulation programme (“RC”) on the Spearpoint Prospect located approximately 350 metres from the Karouni processing plant and approximately 650 metres SE of the Smarts 1 pit; and the results have demonstrated robust mineralised zone with mineable widths of high grade gold over approximately 400 metres of strike length.
Meanwhile, TRY stock has fallen 11.34% in three months as at April 06, 2018. As of now, we give a “Speculative Buy” recommendation on the stock at the current price of $ 0.096.
Stemcell United Ltd
Co-operation Agreement: Stemcell United Ltd.’s (ASX: SCU) stock traded flat after surging over 17% on April 09, 2018 post being reinstated to official quotation. The company signed a Co-operation Agreement with Yunnan Hua Fang Industrial Hemp Co. Ltd. under which SCU will pay HFIH an amount of RMB2 million (about A$400,000) for the consideration to secure the rights under the Agreement. Yunnan Hua Fang Industrial Hemp Co. Ltd (HFIH) has an import-export licence in China and is also preparing to apply to the authorities in Yunnan, China for an Industrial Hemp Licence. As per the agreement, SCU will be able to utilize HFIH’s import-export licence and existing market network in China to explore further distribution of SCU’s dendrobium related products and any future TCM Cannabis beauty products it may develop. Further, if HFIH is successful in obtaining an Industrial Hemp Licence, SCU will be given an exclusive 10 years’ right to use HFIH’s Industrial Hemp Licence to evaluate and develop research for TCM cannabis beauty products using SCU’s stem cell technology. SCU will also have the exclusive right to invest RMB3.8 million (about A$760,000) for a 51% interest in HFIH. We have a “Hold” recommendation on the stock at the current price of $ 0.035, while waiting for key positives in the sector of operation.
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