So with investors here and offshore in a sour mood about China, commodities and emerging markets, it’s no wonder that the continuing weakness in iron ore prices made for a difficult day for BHP Billiton (BHP) yesterday after it reported its December quarter and half year production figures.
Read MoreIf the big four banks fail to repeat their great 2013 performance in 2014, then it will pay to know where the impact among the listed investment companies (LIC) will be hit.
Read MoreThe Aussie dollar took off after yesterday’s stronger than expected rise in inflation in the December quarter, jumping more than half a cent to around 88.88 USc overnight.
Read MoreToday brings the Consumer Price Index data for the December quarter and despite all the thousands of words written about it, the report won’t have any impact on interest rates or Reserve Bank thinking.
Read MoreIt was no wonder one of Australia’s biggest investors, Australian Foundation (AFI), sold down its stake in GUD Holdings (GUD) in the December half year after GUD yesterday produced a very weak interim report as its key Sunbeam division got caught up in the sluggish retailing environment and the still high value of the Aussie dollar.
Read MoreFletcher Building (FBU) seems to have found a new chairman to replace Ralph Waters who steps down later this year.
Read MoreThe most important update so far for 2013-14 came last Friday in the surprise news from Super Retail Group (SUL) that earnings and sales would be lower and slower than previously expected, thanks to a combination of reasons including reluctant consumers and some IT problems in the merging of the group’s existing business with the Rebel sportsgood operations bought over a year ago.
Read MoreNo real surprises from the December quarter and 2013 GDP data for China, according to the preliminary figures released yesterday. In fact it was something of an anti climax.
Read MoreAround mid-February is when the tone for the Australian stock market for 2014 will be set, that’s when the Commonwealth Bank (CBA) reveals its interim result and dividend, and we get the now usual first quarter updates from its peers the NAB, Westpac (WBC) and ANZ.
Read MoreWall Street may have had its worst day in 2014 on Monday, but that wasn’t the fault of dealmakers in Asia and the US with over $US80 billion of deals announced by the likes of Charter/Liberty Media (controlled by billionaire media mogul, John Malone), Google and Suntory of Japan.
Read MoreGold is the headline commodity for many investors – but in reality its importance has drifted towards the margins these days, still interesting, but more US Tea Party than mainstream.
Read MoreMany of the forecasts for Australia in 2014 assume a continuation to the ‘tapering’ of the $US85 billion a year of spending by the US Federal Reserve.
Read MorePeter Esho details the key market events for the week starting 16 December 2013.
Read MoreIt wasn’t just an Australian sell-off on the market yesterday, although it felt like it in the afternoon, raising the question about the standing of our market in the eyes of offshore investors, especially in the US.
Read MoreWell, bad luck Qantas (QAN), the failure of the $350 million issue by Virgin Australia (VAH) to get strong support from small shareholders has all but condemned Qantas to look for ways of raising new capital it needs other than tapping its huge base of small shareholders.
Read MoreWill the Lowy family and its Westfield Group blink and be forced the change the terms of its proposed separation?
Read MoreThe New Zealand economy is going to boom in 2014 and into 2015 thanks to a combination of a 40-year high for the country’s terms of trade and the spreading building boom in Christchurch, Auckland and now Wellington.
Read MoreA mixed initial reaction from investors to the Holden closure news yesterday with one listed dealer’s shares falling and the other’s rising.
Read MoreWhat a rotten Christmas present for those long suffering shareholders in OZ Minerals (OZL), which is now rivaling Newcrest Mining (NCM) as the bad news stock for mining investors for 2013.
Read MoreA day after issuing a small earnings upgrade, Dexus (DXS) has counter-attacked in the battle for control of the Commonwealth Property Office Fund (CPA) with an offer higher than the first and above that from rival GPT.
Read MoreBHP Billiton (BHP) remains a believer in its huge but weakly performing US shale gas and oil business and intends keeping the assets and growing them for the domestic American market, not for exports such as LNG.
Read MoreAre we seeing the early days of a bubble in the making in the housing sector as investors, especially self-managed super funds, continue to pile in?
Read MoreKerry Stokes’ Mining services company WesTrac is a believer in the coal industry, especially in China, judging by yesterday’s announcement of a significant expansion in China.
Read MoreGood news for 2013 and good news for 2014 from Woodside Petroleum (WPL) yesterday at an investor day update.
Read MoreThe rag trade is renowned as a tough place to make a dollar, but Gazal Corporation Limited (GZL) is doing OK.
Read MoreThe demerger of Recall from Brambles (BXB) is almost complete – and shareholders in Brambles also received a small bit of good news as well yesterday.
Read MoreA week ago, Metcash (MTS) was telling the market that while it was close to finishing a wide ranging review of the company, investors would be briefed on the proposed changes at an update day in March of next year.
Read MoreTPG Telecom (TPM) continues to expand, yesterday announcing that it had bought AAPT, a subsidiary of Telecom NZ (TEL), for $A450 million.
Read MoreGood news from the Chinese trade figures for November with not only a solid rise in imports, a huge trade surplus and jump in exports, but a new record for iron ore imports.
Read MoreA quieter week ahead for some, but for Australia, the usual monthly test of the most recent jobs data and China’s latest economic data.
Read MoreGold and oil went differing ways last week, while wheat prices slumped to a near three month low in something of a surprise. Copper though, rose.
Read MoreOn the face of it, the market should start solidly today after the 25 point gain in the futures market on Saturday morning, our time.
Read MoreBlame Qantas, fears about US tapering, nervy investors, over anxious hedge funds – anything – but the $20 billion plus sell-off in the local market yesterday was a worry.
Read MoreTime for Nine Entertainment (NEC) to hit the boards today in its float after the stellar surge by credit reporting group Veda (VED) yesterday and a small gain for retailer Dick Smith (DSH) after Wednesday’s weak start to life as a listed company.
Read MoreQantas (QAN) has gone the whole hog of job cuts, massive loss forecast, sale options, pay freezes (and a cut for CEO Alan Joyce).
Read MoreEconomic growth in the third quarter wasn’t quite as solid as I thought it would be after the run of encouraging data in the past week, and the 0.6% quarter on quarter rise and 2.3% rise in the year to September continues the meandering sub trend performance of the past year.
Read MoreMore change in the Westfield Group (WDC) empire of the Lowy family with the present two-company structure remaining, but with a completely reshuffled make-up.
Read MoreNo wonder the Nine Entertainment float went at the low end of its price range yesterday ahead of tomorrow’s float.
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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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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 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 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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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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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. |
DOWNLOAD RESEARCH REPORT
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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 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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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 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 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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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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