The continuing pressure from the AUSTRAC money laundering claims and pressure from regulators has seen Westpac decide to let small investors withdraw orders to buy shares in the $500 million offer to retail investors as part the $2.5 billion capital raising announced earlier this month.
Read MoreAustralian business investment fell unexpectedly in the September quarter, creating additional downside risks for next week’s third-quarter national accounts and GDP figures.
Read MoreShares in major retailer, Woolworths hit and closed at an all-time high of $39.68 yesterday after CEO Brad Banducci and chairman Gordon Cairns announced they would have their pay packets docked for the 2019-20 financial year in response to the company’s $300 million underpayments of many of its managers.
Read MoreThe mini investment boom in the Pilbara iron ore province of WA continues with Rio Tinto approving a $1 billion $US749 million investment in its existing Greater Tom Price operations (100% owned) operations to extend the life of the mine.
Read MoreA mostly positive reaction from the market to the late news on Tuesday from Evolution Mining revealing a big move into Canada.
Read MorePunters are starting to wonder if there will be a higher offer from the Canadian convenience store giant, ACT or a rival group with shares in Caltex edging higher again yesterday to go with Tuesday’s solid rise after the approach was revealed.
Read MoreA clever move by the ANZ Bank yesterday to differentiate itself from its three major rivals, all of whom are struggling with problems with AUSTRAC, the financial intelligence agency.
Read MoreAustralia’s move into the North American gold mining industry continues with Evolution Mining revealing a $US375 million ($A553 million) deal with the world’s biggest gold miner, Newmont Goldcorp, to buy the latter’s Red Lake gold mining complex in Canada.
Read MoreReserve Bank of Australia governor Philip Lowe has all but ruled out the chances of the central bank following the US Fed, Bank of Japan, European Central Bank and Bank of England and introducing quantitative easing (QE) in an effort to kick start inflation and boost economic activity.
Read MoreA burst of reality on wages over the next year from the second most senior official at the Reserve Bank with Deputy Governor, Guy Debelle telling a conference in Canberra that Australia had to get used to low wage rises for some time to come.
Read MoreWestpac shares ended higher for the first time in five days yesterday in the wake of the dramatic changes at the top of the country’s second-largest bank.
Read MoreAt least ten analysts have put out notes on BOQ following its $250 million institutional capital raising from institutional shareholders. At least one didn’t like the idea of the issue.
Read MoreNearly 300 jobs will go after Copper miner Metals X says it will immediately suspend operations at its Nifty Copper Mine in the eastern outback of Western Australia (near where Newcrest’s Telfer gold and copper mine is located and the recent copper, gold and silver strike by Rio Tinto).
Read MoreShares in Caltex closed up 13.5% at a 15-month high of $33.79 after it confirmed a second unsolicited bid from Canadian convenience store giant, Alimentation Couche-Tard (ACT) at a higher price of $8.6 billion.
Read MoreWestpac is losing CEO Brian Hartzer, chair Lindsay Maxstead and a long-time director in a cleanout directly linked to the AUSTRAC money laundering and child sex scandals.
Read MoreShares in agricultural chemicals supplier Nufarm sold off heavily yesterday as another earnings downgrade from the company confirmed that the big Australian drought has its hooks into the company’s profit and loss account.
Read MoreMore pain for Westpac and its shareholders and it is not going to change any time soon.
Read MoreBank of Queensland shares went into a trading halt yesterday to allow the Brisbane – based finance group to raise $275 million in fresh capital from shareholders.
Read MoreCaltex Australia got the thumbs up from the market yesterday for its long-awaited plan to spin off some of its convenience store retail sites into a separate company.
Read MoreTomorrow sees RBA Governor Lowe speak on “Unconventional Monetary Policy: Some Lessons from Overseas” a speech that will focus attention on what the central bank’s monetary policy stance might look like in 2020.
Read MoreAnother week ahead, more meetings and more pressure on Westpac, its CEO, Brian Hartzer, chair, Lindsay Maxstead, and other directors after Friday’s emergency board meeting and statement failed to convince investors and critics that the bank has a handle on handling the sensational AUSTRAC money laundering allegations.
Read MoreOver the week US shares fell 0.3% and Eurozone shares eased 0.7%. Japanese shares dropped 0.8% and Chinese shares were down 0.7%.
Read MoreOil futures fell on Friday, after reaching two-month highs on Thursday on renewed hopes for a continuation of the OPEC production cap and progress on the US-China trade war.
Read MoreIron ore prices rose again last week as local analysts and business media turned to other interests and ignored the gains.
Read MoreA step up in key data and other reports this week, as well as a major speech from Reserve Bank Governor, Philip Lowe.
Read MoreBad news Friday, at least for three ASX-listed companies. 7-Eleven’s decision to walk away on a supply deal has left Metcash shares deep in the red while Gentrack and Mayne Pharma have disappointed investors with new profit warnings.
Read MoreJudging by two reports from the women’s wear end of the retail sector, business is going sort of OK.
Read MoreAll Westpac’s fault, or was there something more behind the big two day fall in the ASX on Wednesday and Thursday?
Read MoreWestpac’s $500 million retail funding raising is now underway and closes on December 1. At a price-earnings ratio of more than 7%, will it prove to be attractive to retail investors?
Read MoreShares in BlueScope Steel rose yesterday when the company told the AGM that it was still expecting a sharp fall in first-half earnings.
Read MoreShocking allegations against Westpac from AUSTRAC the financial intelligence agency, accusing the country’s oldest bank of systematically breaching Australia’s anti-money laundering and counter-terrorism finance laws 23 million times.
Read MoreBrisbane-based multinational testing group, ALS saw its shares buck what was a very, very weak market yesterday after reporting better than forecast half-year earnings, a higher dividend and an upbeat earnings forecast for the year to next March.
Read MoreWebjet shares have shaken off the unease in the wake of the problems with the collapse of the Thomas Cook travel company in the UK in August.
Read MoreShares in poker machine maker Aristocrat Leisure surged yesterday (in a very weak market) after confirming another year of strong growth.
Read MoreQantas shares have hit a new series of all-time highs after an investor briefing proved to be what investors wanted to hear from the airline.
Read MoreAI stock Appen has issued a strong earnings upgrade which saw the shares bounce sharply after the lift to its 2019 forecasts.
Read MoreAmbitious plans revealed yesterday by Woodside Petroleum for the next seven years at an investor day presentation.
Read MoreSuddenly shares in the a2 Milk Company are back in vogue, three months after they lost their attraction for a bunch of greedy investors who reckoned the trading update issued with the 2018-19 results wasn’t good enough.
Read MoreThe Commonwealth Bank faces potential fines up to about $1.85 million after pleading guilty to selling life insurance to customers through unsolicited phone calls.
Read MoreShares in Kogan.com sold off yesterday after hitting an early high of $7.92 in early trading on news of a solid trading update given to the company’s annual meeting.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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