ASX Round-Up: Looking at Finders Resources and Stonewall Resources

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.
The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Finders Resources (ASX:FND) and Stonewall Resources (ASX:SWJ).
Finders Resources is an emerging low-cost copper cathode producer that’s developing the high-grade Wetar copper project in Indonesia. It also has an advanced, Sumatra-based gold–silver exploration project.
Most recently, Finders released a development and production update on Wetar, commenting that it continues to produce copper from the 3,000-tonne-per-year copper cathode SX-EW plant there; it is also moving forward with the construction of a 25,000-tonne-per-year copper cathode SX-EW plant. Ultimately the company plans to produce 28,000 tonnes of copper cathode per year.
Stonewall Resources holds a number of “highly prospective” gold assets, some of which are located in South Africa. The company started producing from its TGME tailings project in 2011, then began operations at its Bosveld tailings project in 2012; it is currently earning revenue from both operations.
The company’s most recent news came on June 17, when it announced, among other things, a successful recapitalization and funding, securing AU$2.62 million through a share placement and convertible note.
 
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. 
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