The Australian gold rush to North America is accelerating. St Barbara has joined Newcrest and North Star resources in spending up big on mines in either Canada or Alaska. Total spend so far has topped $2.2 billion.
Read MoreFurther evidence yesterday that wage growth continues to be weaker than the Reserve Bank, Federal government and most forecasters think.
Read MoreBrisbane-based AP Eagers may have won the battle for its main listed rival, Automotive Holdings (AHG) but that doesn’t mean it has been immune from the impact of the deepening slow down in the car sector.
Read MoreBrazilian miner Vale is looking at spending up to $A3.5 billion ($US2.5 billion) expanding the dry processing capacity of iron ore mines over the next five years.
Read MoreAhead of shareholder approval of the takeover offer from Nippon Paint, DuluxGroup has announced a special dividend on a top of its interim dividend for the six months to March 31.
Read MoreThe proportion of big global investors preparing for equity falls is the highest in the survey’s history while allocation to safe-haven cash has risen seven percentage points to a net 33% overweight.
Read MoreDespite the sharp slide in China’s production and investment in April, there were some sharply divergent trends in output by industry. For example, crude steel production – the figure along with iron ore, coal and LNG import data of great interest to Australia – increased strongly.
Read MoreChina’s April trade data showed an economy softer than in March – exports were weaker than expected, imports a bit better, but yesterday we got more confirmation that China’s economic activity weakened last month (before the escalation in the US trade war at the start of last week) as growth in factory production, investment and retail sales all slowed.
Read MoreThe National Australia Bank has seen March’s surprise jump in business conditions in its monthly survey unwind in April – with conditions, confidence and forward orders now all below average as they were in February.
Read MoreLike the update yesterday from Automotive Holdings, the profit announcement from Ruralco is of academic interest seeing it is moving towards finalising its takeover by a Canadian suitor.
Read MoreA rather severe confession time yesterday from generic drug group, Mayne Pharma with a warning of a big slide in revenue and profit and a possible write-down of asset values.
Read MoreYesterday’s trading update was all a bit ‘after the event’ from Automotive Holdings (AHG) now that it has fallen on its knees and accepted the paper offer from its biggest shareholder AP Eagers (which owns 28.8%).
Read MoreDriven by a 47% surge in global iron ore prices, Fortescue Metals has surprised the market with a massive increase in its dividend from 19 cents to 60 cents a share, fully franked.
Read MoreA major about-face on maintaining its dividend payout and a loss in the latest full-year results from London based telco, Vodafone Group PLC help explains why the company wants to abandon Australasia through sales of its operating arms in Australia and NZ.
Read MoreSo ‘sell in May and go away’? It’s an old adage for markets, but Monday’s slump on Wall Street brought new focus to the saying and the thinking behind it.
Read MoreMore doubt has been cast on the proposed near $1 billion sale by ANZ Bank of its superannuation business to IOOF.
Read MoreEnergy group, AusNet has lifted its final dividend despite a near 13% drop in full-year profit to $253.9 million but says it expects to lift pay out again in the 2019-20 financial year which started on April 1.
Read MoreEclipx Group will take an impairment of up to $130 million for the six months to March 31 and changed chief executives as it tries to restore confidence among investors in the wake of the collapse of the merger with McMillan Shakespeare and a severe downturn in its business operations
Read MoreCommonwealth Bank’s third-quarter profit slumped 28% to $1.7 billion for the three months to March, as it was hit by hefty costs from compensating customers.
Read MoreShares in Reliance Worldwide Corporation plunged more than 26% yesterday after it downgraded 2018-19 profit guidance.
Read MoreLast week saw Australian shares battle a noisy week of trading, as investors sold-off ahead of the US’s tariff increase on Chinese imports on Friday.
Read MoreThe May 18 election dominates Australia this week, but amidst all the clamour we will get two very important updates on the health of the economy with the release of two key indicators the Reserve Bank is now concentrating on – the health of the labour market and strength of wages growth.
Read MoreThe start of higher tariffs on $US200 billion of Chinese imports left gold and metals markets all but unmoved on Friday and last week.
Read MoreIron ore prices have jumped above $US97 a tonne – the highest price in four years as demand from Chinese mills continues and traders ignore the trade war escalation between the US and China.
Read MoreThanks to a late rally on Friday night, Wall Street ended in the green for the day, but not the week.
Read MoreAustralia will get two interest rate cuts this year totaling 0.50%, according to the second Statement of Monetary Policy for 2019 from the Reserve Bank.
Read MoreA welcome lack of bad news or write-downs at yesterday’s annual meeting of global insurer QBE in Sydney. The insurer instead had good news for shareholders saying that it is on track to hit its guidance on financial performance this year, with premiums rising and investment returns in line with expectations.
Read MoreA good interim result from explosives maker Orica saw the shares jump yesterday to a new 12 month high as it took the opportunity to boost interim dividend 10%.
Read MoreJust as we saw with CSR earlier this week and other suppliers to the building sector (such as Brickworks’ core brick-making operations) and Fletcher Building products which is looking to revamp its Australian operations in the face of weakening demand, cement maker, Adelaide Brighton is now feeling similar financial pain.
Read MoreNo interim dividend for shareholders in East Coast grains handler and shipper, GrainCorp after it revealed a not unexpected loss for the six months to March 31, with the severe drought the culprit.
Read MoreAustralian iron ore giants, Rio Tinto and BHP have moved to the top of the global pecking order thanks to the problems besetting its Brazilian rival, Vale.
Read MoreChina’s imported edged up in April instead of falling as expected by the market, with crude oil imports leading the way, rising 11% year on year to a record for the month of 10.64 million barrels per day (bpd), according to the country’s General Administration of Customs.
Read MoreAnother surprise from China’s monthly trade report – instead of another rise in exports, in April, the data showed a fall, raising questions if the trade war with the US was biting deeper than previously thought.
Read MoreIron ore prices have jumped above $US96 a tonne despite the confusion about President Trump’s threat to impose higher tariffs on $US200 billion of Chinese imports into the US from Friday.
Read MoreThe building sector boom is well and truly over, judging by the full 2018-19 results from CSR Ltd yesterday.
Read MoreIn a major blow to the ambitions of TPG Telecom, the competition regulator has blocked its planned $15 billion merger with Vodafone Hutchison Australia Pty Ltd.
Read MoreThe Automotive Holdings Group (AHG) board has unanimously recommended shareholders accept the AP Eagers’ (APE) improved scrip offer of one AP Eagers share for every 3.6 AHG shares. This compares to an earlier offer of one AP Eagers share for every 3.8 AHG shares.
Read MoreThe Reserve Bank of NZ blinked first and has cut its official cash rate by a quarter of a point to 1.50% at which level it is now on par with the Reserve Bank of Australia’s key rate.
Read MoreA couple more corporate updates or confessions yesterday. The Shaver Shop narrowed its earnings guidance, but not so upbeat news from pokies maker, Ainsworth.
Read MoreNo rate cut from the Reserve Bank as it sat on its hands at the May meeting yesterday, meaning there will be no change to rates in the current federal election campaign.
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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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