Three New ASX Stocks to Watch July 2021
In this article, we give you three new ASX stocks to watch that you probably won’t have heard of. These stocks to watch include Berkely Energia (ASX: BKY), Eden Innovations (ASX: EDE), and Energy World Corporation (ASX: EWC). Our analyst team has done the research for you and given you a Radar Rating.
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ASX Small Cap Stock to watch:
Berkeley Energia (ASX:BKY)
Market Cap: $138.6m
Net Cash: $80.0m
Enterprise Value: $58.6m
Latest Price: $0.54
12-month High: $1.00
Progressing approvals for the Salamanca uranium mine, located in Spain, and bringing it into production. The mine would have low capital and operating costs of US$93.8m and US$15/lb respectively and production of 4.4m lbs pa, equivalent to 10% of Europe consumption. Berkely has a valid 30-year mining licence for Salamanca. Authorisation for the uranium plant as a radioactive facility is the only pending approval required. Nuclear Safety Council technical team is still to finalise their report, with the company expecting ratification in the coming months. Possible adverse changes to a climate change and energy transition bill in Spain could pose a threat to the mining of radioactive minerals.
The project awaiting government-related decisions on several fronts. If approved, it would then need to be funded and developed. Location in the EU could be a positive as it has policies to be as self-sufficient in raw materials as possible.
Eden Innovations (ASX:EDE)
Market Cap: $45.8m
Net Cash: $0.5m
Enterprise Value: $45.4m
Latest Price: $0.02
12-month High: $0.05
EDE supplies concrete additives which increase the performance and longevity of concrete in particularly harsh environments. Has contracts, test sites, and approvals in the US in particular in Rocky Mountain states and Georgia.
Potential exposure to the proposed US infrastructure spending program going through Congress. Still speculative, since it is not clear how it will reach profitability. And will probably require capital.
Energy World Corporation (ASX: EWC)
Sector: Gas production, LNG, and power generation
Market Cap: $224.35m
Net Cash: -$852.9m
Enterprise Value: $1077.2m
Latest Price: $0.09
12-month High: $0.16
Indonesia (Sulawesi) - supplies gas from the Sengkang gas field (7-9 trillion cubic feet of gas in place) to its 315-megawatt power station. Construction of the modular 2m tonne a year LNG plant is 80% complete with the first production in late 2022. Philippines - building a 3m tonne a year LNG hub terminal, the first in the Philippines. Also developing a 650MW power plant 80% complete. The plant is scheduled for mid-2022. Hub terminal will operate a tolling model for third-party clients. Australia - has gas leases in the Cooper Basin and an 8MW power plant and a small LNG plant at Alice Springs.
Profitable, potential valuation re-rating from completion and expansion of its energy projects. A negative is debt financing from a related party Slipform Indonesia. The major shareholder is Energy World International (38.8%). Country risk.
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