Stocks in News This Week: $INBS, $HNRC, $ANKOF / $ANK.V, $CFTN
As the week comes to a close, it could well be the right time for investors to consider taking a look into those stocks that may have come into focus at different times. Here is a quick look at four of those.
Intelligent Bio Solutions Inc. (NASDAQ:INBS) On Thursday, the company was in considerable focus among investors as it ended up with gains of 92.51% for the day and hit $0.437 a share. Late Thursday, Intelligent Bio Solutions Inc. reported combined revenues and government support income rising by 191% on a year-over-year basis. On a sequential basis, it had gone up by 88%.
It had been primarily brought about by expansion into the South American market, greater plans in the United States market, and the completion of a key development milestone related to new assays for the Intelligent Fingerprinting Drug Screening System.
Houston Natural Resources Corp. (OTC:HNRC) On October 4, the company hit the news cycle after it provided an update to its shareholders about some of the recent business developments, major milestones, and a glimpse into the direction this year and farther.
One of the major highlights from Houston Natural Resources Corp. was that it had completed the asset spinoff dividend to the shareholders of Worldwide Diversified Holdings Inc. The company also pointed out that it had completed a 100% acquisition of Cunningham Energy LLC and a 40% stake in Rhino Energy Pty Ltd. The company expected that its revenues and earnings for 2023 would surpass the projections of $20 million and $12 million, respectively.
Angkor Resources Corp. (OTCQB:ANKOF) (TSX.V: ANK) The mining company was in focus on October 18 after it announced that the drill targets had been defined at the Wild Boar gold project. Additionally, Angkor Resources Corp. also announced that drilling activities would commence at some point in the early days of December once the rains subsided sufficiently.
The Vice President of Exploration at the company, Dennis Quellette, spoke about the move as well. He noted that the solid assay results indicated that there was a large anomaly in an area spanning roughly 1.5 kilometers in width and 2 kilometers in length. Additionally, he went on to note that the grab samples from the area indicated the presence of a clear north-to-south target for a potential drilling program.
Clifton Mining Company (OTC:CFTN) The company revealed on November 7 that Desert Hawk Gold Corp. had provided its gold mining and production report for the three-month period from July to September 2023. Desert Hawk produced 594 ounces of silver and 391 ounces of gold from the leach pad. The company also stated that due to a continuing bear market in metal prices, the past two decades have been particularly difficult for precious metals companies.
Many companies struggled to stay afloat due to dwindling revenues and a lack of interest from investors. However, Clifton Mining managed to go against the trend, and rather than selling off properties, it bought new ones. Additionally, it did not dilute shares and repurchased 4 million shares instead. In the news release, the company also called the criticism of its management misleading and false. Hence, it urged all the shareholders to vote in favor of its nominees to the Board of Directors at the annual meeting of shareholders that would be held on November 17.