Clean TeQ Holdings Ltd

CLQ Details
Robust March quarter results: Clean TeQ Holdings Ltd (ASX: CLQ) recently reported that there has been an immense trading activity with regards to its shares in last one week. However, the group is unaware of any issues justifying the trading activity. In last one month, the stock has plunged 35% as at April 26, 2017, but soared about 14.7% on April 27, 2017 at the back of impressive March quarter results. The group had reported that its Syerston Nickel / Cobalt Definitive Feasibility Study is progressing as planned. CLQ has involved itself in Nickel/Cobalt Sulphate offtake discussions and had placed 92,518,888 new shares at an issue price of $0.88 per share to raise proceeds of approximately $81 million to Pengxin International Mining Co. Ltd. for the development of the Syerston Nickel Cobalt Scandium Project. Some key appointments to board and senior management have also been made to enhance project development and operational capability. As at 31 March 2017, the available cash at bank has been reported to be $92.67 million with $0.2 million additional cash on deposit securing performance guarantees. We maintain a “Speculative buy” recommendation at the current price of $ 0.70


CLQ Daily Chart (Source: Thomson Reuters) 

dorsaVi Ltd

DVL Details
Mixed business update: dorsaVi Ltd (ASX: DVL) share price plunged about 6% on April 27, 2017, post the release of its mixed quarterly results. The sales growth during the third quarter of FY 2017 was about 4% over the prior corresponding period that led to a lower than expected year-to-date customer sales growth of 23%. On the other hand, cash receipts were up 34% on prior corresponding period. The group has reported 31% dip in net operating cash outflows for FY17-to-date at the back of development cost capitalised in Q2 FY17.
 

Customer Revenue (Source: Company Reports)
 
The group still witnesses high customer retention. The group had signed major NFL club with growth in the USA. Drivers of growth in Australia include repeat business from big clients in Australia, a large-scale 12-month deal with a global food manufacturer and annuity revenue from implementation of products such as myViSafe. We maintain a “Speculative Buy” recommendation at the current price of $ 0.40


DVL Daily Chart (Source: Thomson Reuters)

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