After years of negotiations and ongoing research and development, Cymat Technologies (CYMHF) stock continues to flourish on the TSX, hitting a new 52-week high at the close of the market on June 13th.
The company shares traded as high as C$0.42 and last traded at C$0.40, with a volume of 58,100 shares changing hands. The stock had previously closed at C$0.39. The firm has a market cap of $12.10 million. Over the past year, CYMHF stock outperformed the Metals and Mining industry, as well as the market in Canada which returned -2.8%.
The Toronto-based innovative materials technology company manufactures and sells stabilized aluminum foam products (SAF) worldwide. It also provides architectural materials under its AlusionTM brand name, and automotive and blast mitigation products under the SmartMetalTM brand name.
Average Volume for Cymat Technologies stock is 41,360, which on average has seen a steady increase in volume over the last 2 years, in particular, average daily volume has risen over the last three months.
Cymat Technologies’ recent stock performance may be, in part, contributed to the company’s portfolio of actively progressing business opportunities. From the automotive to the architectural industries, to defense contracting and ancillary practices, the company’s leadership team has demonstrated the persistence to create promising markets and complementary partners in those markets.
To support its business goals, Cymat Technologies recently announced it entered into a draw-down equity facility of up to CAD $12,000,000 with Ontario-based Alumina Partners Ltd., a subsidiary of New York-based private equity firm Alumina Partners, LLC.
The draw-down nature of the facility ensures that Cymat Technologies has the ability to access capital as needed while pursuing its evolving list of projects.
In the press release, Cymat Technologies CEO, Michael Liik, noted: “We have been pursuing several initiatives that have now evolved to the point that, if successful, will require substantial funding. More specifically, securing this stand-by financing facility will enable us to strengthen our negotiating position with partners and potential customers. It will also allow us to increase our production capacity in a timely manner should these opportunities come to fruition.”
Further fueling Cymat Technologies’ prospects for growth include the launch of a premium version of its AlusionTM brand product, AlusionTM Plus. AlusionTM Plus will be manufactured from a new aluminum alloy and will provide enhanced material characteristics and aesthetics.
Outside of AlusionTM Plus, Cymat Technologies is also playing a leading role in bringing Stabilized Aluminum Foam (SAF) technology to a larger market with its joint-venture with Alucoil SA in Spain. The full-scale panel production facility is near completion with final trials expected to begin soon. When fully operational, the plant, which is located in Spain, will have a targeted annual output capacity of 500,000 m2 of sandwich panels.
In the Chinese market, Cymat Technologies has remained unimpacted by the recent international tariff escalations that have affected many aluminum products. In a recent press release, management at Cymat Technologies was pleased to announce that since the company’s signing of a distributor agreement in China approximately 8 months ago, revenue from China has grown to $1.3 million.
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