A few stocks from ASX listed companies offer a long term growth potential. Such potential growth companies, if invested in at the right time could give good returns in times to come. Two of the best growth stocks to buy now are
BlueBet Holdings Limited (ASX: BBT)
BlueBet Holdings Limited (ASX: BBT) has experienced significant transformation following its merger with betr on 1 July 2024. This merger has strengthened BlueBet's position in the Australian wagering market by combining BlueBet’s advanced technology with betr’s large customer base. The company is on track to achieve monthly EBITDA profitability before the end of H1 FY25, with November trading significantly outperforming the previous year. With a focus on driving efficiencies, customer acquisition, and product enhancements, BlueBet expects to achieve normalised EBITDA profitability for FY25, continuing to build on the strong momentum from its Spring Racing Carnival performance and customer migration.
Since its ASX listing in 2021, one of the top growth stocks, BlueBet has shown rapid growth, reached over 76,000 active customers and achieved $633 million in turnover for FY24. The company’s disciplined approach to customer value, coupled with its strong Australian Net Win Margin of 10.7%, has been key to its success. Following a strategic review, BlueBet exited the US market, reallocating the capital to focus on profitable growth in its core Australian market. The company retains its proprietary technology developed for the North American market, which it plans to commercialise globally. This strategic shift will help unlock significant value for shareholders while maintaining a strong focus on the Australian market.
Looking ahead, BlueBet aims to become the leading independent Australian wagering operator, targeting a 10% market share through both organic and inorganic growth. The company’s technology, brand strength, and customer-first approach are central to its strategy. BlueBet is committed to responsible wagering, with a focus on consumer protection and ensuring customers remain in control of their betting activities. The recent progress made since the merger, including successful customer migration, brand rebranding, and achieving record net win margins during the Melbourne Cup Carnival, puts the company in a strong position to continue its growth trajectory. With a talented leadership team and board, BlueBet is poised for long-term success in the domestic wagering market.
Auric Mining Limited (ASX: AWJ)
Auric Mining Limited (ASX: AWJ) has announced it has entered into a letter agreement, subject to due diligence, to acquire the Burbanks Gold Processing Facility and its associated assets and infrastructure for a highly competitive acquisition price of A$4.4 million. The Burbanks facility, strategically located just 15km south of Coolgardie in Western Australia, lies within trucking distance of Auric's existing gold resources. The plant currently boasts a nameplate capacity of 180,000 tonnes per annum (tpa) and is supported by all requisite infrastructure, including critical power access, tailings dams, and approved permits and licenses. Importantly, this positions Auric to fast-track operations with minimal delays. Management plans to undertake necessary studies to refurbish the facility and evaluate optimization scenarios to increase its processing capacity, unlocking further operational efficiencies and growth potential.
The acquisition marks a transformative step for Auric, providing significant commercial optionality and control over the company’s ore processing once the plant is recommissioned. Ownership of milling infrastructure in the WA Goldfields will enable Auric to achieve operational self-sufficiency, reduce processing costs, and improve margins. Management emphasized that the acquisition aligns with the company’s strategic vision of becoming a fully integrated, sustainable gold producer in the heart of WA’s Goldfields region. Updates on the due diligence process will follow in the coming months.
Operationally, Auric, considered among growth stocks, has also delivered a strong financial performance, driven by ongoing toll milling and the success of its Stage Two mining operations. The first toll milling campaign at Three Mile Hill Mill has been completed, with further gold sales anticipated. Additional processing at Greenfields Mill continues, with first sales from this campaign expected next week. To date, Stage Two mining has resulted in total gold sales of 8,794 ounces, generating A$33.14 million in revenue, with a peak sale price of A$4,233 per ounce. The company expects further interim cash distributions before the end of the year.
Management also highlighted the exceptional performance of the Jeffreys Find project, which has proven to be a significant cash-generating investment. Jeffreys Find is on track to deliver substantial free cash flow, strengthening Auric’s financial position and providing a strong return on investment for shareholders. With momentum from a successful 2024, Auric is well-positioned to carry its growth trajectory into 2025 and beyond, delivering further value to shareholders through disciplined execution of its strategic plan.
Source: Company’s Report
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