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This report is an updated version of the report published on 19 December 2025 at 11:39 AM AEDT.
Company Overview: Comet Ridge Limited (ASX: COI) is an ASX-listed energy company focused on the development of natural gas resources for the strained east coast Australian market. It has tenement interests and a suite of prospective projects in Queensland. Hillgrove Resources Limited (ASX: HGO) is a mining company based in Australia. Its flagship project The Kanmantoo Underground project is located approximately 55km from Adelaide. The Kanmantoo features the recently completed Giant, Nugent and Emily Star Open Pits, and a fully permitted and operational ore processing plant, and tailings storage facility with spare capacity. Kalkine’s ‘Stocks Under 20 cents’ report covers the Investment Summary, Key Financial Metrics, Risks, Outlook, SWOT Analysis, Technical Analysis along with TTM-based Relative Valuation, and Recommendation on the stocks.
1. Comet Ridge Limited (ASX: COI) (Recommendation: Speculative Buy, Market Cap: AUD 143.57Mn)
FY25 Update:
Business Update:
Key Ratios & Figures:
Key Risks and Outlook:
SWOT Analysis:
Stock Recommendation and Technical Analysis:
The stock has not witnessed any change in price in the last one month and over the last six months, it has declined by ~20.0%. The stock has a 52-week low and 52-week high of AUD 0.099 and AUD 0.165, respectively, and is currently trading below the average of 52-week high-low. COI was last covered in a report dated ‘17 October 2025’.
2. Hillgrove Resources Limited (ASX: HGO) (Recommendation: Speculative Buy, Market Cap: AUD 122.90Mn)
Result Highlights of H1FY25:
Business Update:
Key Ratios & Figures:
Key Risks and Outlook:
SWOT Analysis:
Stock Recommendation and Technical Analysis:
The stock has increased by ~20.0% in the last one month and over the last six months, it has fallen by ~10.0%. The stock has a 52-week low and 52-week high of AUD 0.029 and AUD 0.058, respectively, and is currently trading below its 52-week mid-level. HGO was last covered in a report dated ‘16 May 2025’.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 19 December 2025. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect against further losses in case of unfavourable movement in the stock prices.
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Past performance is not a reliable indicator of future performance.
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