Latin Resources Ltd

LRS Details
·         Claimed concessions having the historic cobalt producing mine: Latin Resources Ltd (ASX: LRS) stock surged over 16.67% on March 07, 2017 as the group reported that they working towards controlling the concessions that host the known cobalt deposit mine around Argentina. The group applied for 28,220 hectares in three exploration licenses in the La Rioja Province, Argentina that adjoins the King Tut mine. This was a historic producer of cobalt and gold ore wherein the deposit is in the adjacent King Tut mine, which is now owned by a subsidiary of Lundin Group. This mine’s gold material reported a recorded production of 60 to 80 tonnes of cobalt ore with an average grade of 1.3% Co during 1901 – 1902. Based on Angelelli, 1984, the King Tut mine is the only known cobalt deposit in Argentina and has grades in the range of 0.2% and 2.45% Co (Angelelli, 1984 p 18, 383 and other non-JORC foreign publications). The group believes that this fertile terrain could be prospective for high grade cobalt-gold deposit.
 
·         Recommendation: LRS stock already surged over 350% in the last one year (as of March 06, 2017). We believe the stock is “Expensive” at the current price of $ 0.021

Historical grades (Source: Company Reports) 

Ardent Leisure Group

AAD Details
·         Improving performance in Theme parks: Ardent Leisure Group (ASX: AAD) stock rallied over 3.85% on March 07, 2017 as the group reported an improving performance of their Theme Parks division in the month of February 2017, as compared to the trading in December 2016 and January 2017. The group reported that their Theme Parks division delivered unaudited revenues of $4.4 million, which fell 35.0% on revenues of $6.78 million as compared to the prior corresponding period. However, this is a lower decline as compared to the reductions in revenues of 63.0% and 50.4% recorded in the December 2016 and January 2017 periods. The group reported that their parks performance is also driven by the launch of a new brand campaign featuring the song “Pure Imagination” performed by Guy Sebastian and supported by the Yugambeh Youth Choir.On the other hand, Perpetual Ltd became a substantial holder of group’s ordinary securities with 5.63% voting power.
 
·         Recommendation: We give a “Hold” recommendation on the stock at the current price of - $ 1.61 
           
Improving Theme Park Performance (Source: Company Reports)

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