Juniors hoping recent rally lasts

PETER HAYES: Given the exciting start that equities have had in 2013, many small companies will be hoping that it lasts.

April 2011 was the last time both indices were trading above the mystical 5000 point mark and, despite recent glitches, we seem to be holding and extending gains in equities, backed by some better than expected corporate results.

Both CBA and Wesfarmers reported better than expected results, and definitely better than expected dividends.

This new found optimism in the market will hopefully trickle down to the midcaps, and then some of the penny dreadfuls.

Many small company executives will be hoping so, as their lifeblood is equity capital raisings, and as such, so is their salaries.

A report compiled by Alto Capital analyst Carey Smith recently isolates the parlous stage some small speculative stocks have found themselves in.

The tables below show both the cheapest resources stocks as at early February, 2013 and the lowest cash balances.

They also demonstrate Cash, Debt and Shares Outstanding info as of Dec 31, Share price as of the 5th February.

These were tabulated manually so there may be some small mistakes.

25 Cheapest Resource Companies (Enterprise Value)

 

25 Resource Companies with the Lowest Cash Balance (as of 31st Dec)

 

 

Peter Hayes
Investment Manager