The last five days have seen shares of Fluence Corporation Ltd [ASX:FLC] edge higher, before surging near 12% in Monday’s trading, to 35 cents per share.
It seems things are getting back on track somewhat, as Fluence Corporation’s share price reacted to favourable news from its partner Hassan Allam Holding, regarding their role in the New Mansoura Desalination plant project in Egypt.
But today shares are trading slightly lower at 34 cents, as the markets settle.
The resource sector is always moving, so it can be tricky to know where to invest. Luckily, our resources analyst and Markets & Money contributor, Jason Stevenson, has shared his top 10 resource stocks. Take a look at what they are here (for free).
Fluence Corporation’s share price reacts to new desalination plant news
The New Mansoura Desalination plant project is set to produce 80,000 cubic meters of water per day upon completion through its reverse osmosis technology. This will help about two million inhabitants of the New Mansoura city and surrounding areas, in phase 1 of its project.
For Fluence, the project means new opportunities including ongoing discussions with Hassan Allam, which are progressing according to Fluence’s announcement on the ASX today.
To give you some background information, Fluence has experience operating in over 70 countries worldwide and offers local, sustainable treatment and reuse solutions.
In December last year, Fluence also announced its built-own-operate plant in Peru, where it gained rights to build and operate a seawater desalination plant in central Peru.
What’s next for Fluence Corporation in 2019?
It’s still early days with discussions still clearly ongoing, investors will have to be patient to see desired results.
You can expect to see any further announcements of material new contracts and when they will be entered into by Fluence, to come throughout 2019.
In other news, the Peru plant — a US$8.4 million investment — is set to deliver a minimum of 1.1 million cubic metres of industrial-grade water per year and will be operational in the second quarter of 2019.
Projects like this one and New Mansoura, are just some of the few Fluence Corporation has announced back in 2018.
Fluence managing director and CEO Henry Charrabé said that the company would be focusing on recurring revenues.
For Markets & Money
PS: Interested in mining stocks leading into 2019? Markets & Money resources analyst Jason Stevenson believes that your best opportunities lie in smaller, more speculative stocks that aren’t restricted to iron ore. The kind that could see massive share price moves from a single positive drill-hole result. For 10 of his favourite mining stocks on the Aussie market this year, download his free report ‘Top 10 Mining Stocks’ today.