Local stocks are higher for the second day. BHP Billiton recorded a 23% rise in iron ore production ove the past year; however its shares are slightly lower. Chinese economic news in focus. Dollar still below US94c.
Read MoreLocal stocks are slipping for the second trading session. Defensive telcos are higher while all other sectors are slipping. No major (market moving) economic news today. Public holidays over next fortnight could keep volume a little light.
Read MoreLocal shares recorded worst daily tumble in three weeks. Tech stocks were the worst performers in percentage terms. Lending fell for first time in four months and Chinese inflation under control.
Read MoreLocal stocks finished close to the best level in six years, with the All Ordinaries Index up by around 0.2%. Around three times as many jobs were created than expected in March.
Read MoreThe Australian market is having its best day in around two months at lunch, with the All Ordinaries Index up by around 1%. David Jones has accepted a $2.15 billion takeover bid from South African retailer Woolworths.
Read MoreThe Australian sharemarket recovered late in trade to only end 0.1% lower by market close. Beef producer Australian Agricultural Company (AAC) finished 4.5% firmer.
Read MoreThe Australian sharemarket had an eventful session. BHP was a standout following demerger speculation, the RBA kept rates on hold and Chinese data was mixed.
Read MoreThe Australian sharemarket rose by 0.5% today; however failed to maintain the 0.8% gains recorded earlier in day. Lending and new home sales rose while inflation remains contained.
Read MoreThe Australian sharemarket rose for the second day, with almost all sectors finishing higher. David Jones fell despite a strong earnings result while Stockland made a significant purchase.
Read MoreThe Australian share-market fell for the fifth time in six trading sessions, with concerns relating to Ukraine and Russia keeping investors on edge. Petrol prices fell while car sales edged modestly higher.
Read MoreLocal shares are slipping due to worse than expected Chinese economic news out at 4.45pm (AEDT) on Thursday. The miners are slumping, the banks are in the red, while the gold producers are amongst the lone improvers.
Read MoreThe Australian sharemarket improved for the first time this week, with the All Ordinaries Index up by 0.5%. The miners continued to make up for the 4% slide on Monday. Three times as many jobs were created in February as expected by the market.
Read MoreThe Australian sharemarket is slumping by 1%, with the miners mixed but mostly weaker. The major banks are hurting the broader market most (15pts from All Ords). Consumer confidence has fallen according to the results of a survey today.
Read MoreDespite a rise earlier in the session from the miners, resource stocks slipped late in trade. The major banks added 10 points to the All Ordinaries Index while economic news was mixed.
Read MoreThe Australian sharemarket had its worst day in over a month, with the All Ordinaries Index slumping by around 0.8%. The miners were the biggest drag, due to disappointing Chinese economic news and a falling iron ore price.
Read MoreThe Australian sharemarket rose for the 4th straight day (All Ords) today. Shares this week up 1.1%; with energy and consumer discretionary companies the standouts.
Read MoreThe world’s largest job outsourcing and freelancing provider, Freelancer Limited posted a $753,000 full year net profit. This was 57% higher than FLN’s forecasts provided in its prospectus last year.
Read MoreGlobal property developer Lend Lease Group (LLC) has posted a 16.4% slide in half year net profit to $251.6m. The result was impacted by a fall in revenue from its development unit and a 26% slump in operating profit locally.
Read MoreAustralia’s largest private hospital operator Ramsay Health Care (RHC) posted a slightly better than expected $171.6m half year underlying profit.
Read MoreAustralia’s largest integrated energy company, Origin Energy (ORG) issued a slightly worse than expected half year underlying profit of $381m.
Read MoreQueensland based financial services company, Suncorp Group (SUN) reported a worse than expected 4.5% drop in half year profit to $548m.
Read MoreBeverage and packaged food company, Coca-Cola Amatil Limited (CCL) issued a worse than expected full year underlying profit of $502.8m.
Read MoreAustralia’s fifth biggest bank, Bendigo and Adelaide Bank (BEN) issued a slightly worse than expected half year profit of $180.7m. Subdued demand and a jump in customers paying down debt held back the result.
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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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