Stocks of the Hour: Euro Manganese, Centaurus Metals, Smartpay, Megaport

Company News

by Tim McGowen

Euro Manganese (ASX:EMN) announced early today that it has become a member of the Global Battery Alliance (‘GBA”) , a partnership of leading organisations from across the battery value chain, which includes governments, academics, and NGO’s who have mobilised to ensure that battery production not only supports green energy, but also safeguards human rights and promotes environmental sustainability. A Battery Passport is under development by the GBA. Dr. Matthew James, Euro Manganese’s President and CEO, said: “The Battery Passport will be a valuable resource to measure EV battery quality and improve overall industry sustainability performance. Responsibly extracted and produced battery materials are the foundation of the battery value chain. Our Chvaletice Project in the Czech Republic is the only sizable manganese resource in Europe and will produce fully-traceable high-purity manganese products for the EV industry in an environmentally responsible manner. The Company has recently undertaken a Life Cycle Assessment to quantify the Chvaletice Project’s environmental impact, the results of which we intend to announce soon.” Shares in Euro Manganese are trading 6.9 per cent higher at 31 cents.

Centaurus Metals (ASX:CTM) reported outstanding new drill results from ongoing resource growth and development drilling at its 100%-owned Jaguar Nickel Sulphide Project in northern Brazil. Centaurus’ Managing Director, Mr Darren Gordon, said: “With 15 drill rigs operating on site, the Jaguar nickel project is continuing to go from strength to strength. The results we reported today demonstrate the robustness of our resource inventory which, at 730,000t of contained nickel, is already one of the largest nickel sulphide resources held by an ASX-listed company. They will contribute towards our next Resource update, scheduled for late September, which should also result in a significant update to the higher-confidence Indicated Resource category that will underpin our maiden Ore Reserve and Definitive Feasibility Study". Shares in Centaurus Metals are trading 4.7 per cent higher at $1.01.

Smartpay (ASX:SMP) released a strong trading update following the completion of the first quarter to 30 June 2022 of the 2023 Financial year. Increasing their investment in marketing and sales paid off and resulted in record months for lead generation and has delivered accelerated customer acquisition in the first quarter of FY23 with over 1200 new transacting terminals added to the end of June. Shares in Smartpay are trading 15.8 per cent higher at 66 cents.

Telco infrastructure firm Megaport (ASX:MP1) has reported fourth quarter revenue of $30.6 million, a 10 per cent improvement on Q3. The company also reported (EBITDA) of $1 million in Q4 for the first time, thanks to two new markets, Canada and Japan, becoming profitable and ahead of schedule. That’s after backing out of equity-settled employee related costs, foreign exchange gains and losses and other non-recurring expenses, it said. Normalised EBITDA for the year to date is $10.2 million. Shares in Megaport are trading 19.5 per cent higher at $7.73.
 

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