Orlando, FL -- (SBWIRE) -- 08/29/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Gold Fields Limited (ADR)(NYSE:GFI), Organovo Holdings Inc (NYSEMKT:ONVO).
Gold Fields Limited (ADR)(NYSE:GFI) shares decreased 4.59% to $5.20. The company on August 22 announced that it has entered into a binding sale and purchase agreement with Barrick Gold Corporation (Barrick) to acquire its interests in the Granny Smith, Lawlers and Darlot gold mines (collectively the Yilgarn South Assets) in Western Australia, for a consideration of US$300 million, subject to downward working capital adjustments to a maximum of US$30 million.
Additionally, the company, on July 30, announced the appointment of Alfred Baku as Senior Vice-President and Head of its West Africa Region, the largest geographic contributor to the company's production. Mr Baku will also join the Group Executive Committee. The appointment will take effect on 1 August 2013. Mr Baku, who is currently Vice-President of Operations for the West Africa region, is the first Ghanaian to head up the region. He will be based in Accra.
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Organovo Holdings Inc (NYSEMKT:ONVO) stock fell 4.27% and closed at $5.60. The company on August 12 reported on its financial results for the three-month period ended June 30, 2013. For the three months ended June 30, 2013, total revenues were approximately $0.1 million were $0.2 million or 67% below the approximately $0.3 million in revenues for the same period in 2012. The Company also had negative cash flow from operations of $2.7 million during the three months ended June 30, 2013, with end-of-period cash and cash equivalents of approximately $12.8 million and an accumulated deficit of $70.1 million.
Additionally, the company on August 7 nnounced the closing of its previously announced underwritten public offering of 9,000,000 shares of its common stock, as well as 1,350,000 additional shares of its common stock pursuant to the full exercise of the over-allotment option granted to the underwriters. The shares were sold at the public offering price of $4.50 per share and the company estimates the aggregate net proceeds to the company will be approximately $43.3 million, after deducting underwriting discounts and commissions and other estimated offering expenses.
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