There’s already plenty of interest for green hydrogen in Western Australia and now Queensland wants in on the act, with two new proposed projects announced in as many days in the Sunshine State.
Read MoreCiti upgrades Fortescue Metals to Buy from Neutral and reduces the target to $18.50 from $19.50.
Read MoreOutperform maintained. Target is reduced to $25 from $27.
Read MoreBHP has reiterated its determination to take over Canadian nickel explorer Noront Resources, despite a mooted higher offer from Fortescue Metals chairman Andrew “Twiggy” Forrest’s Wyloo Metals.
Read MoreAfter adjusting for the FY21 result, the target falls to $19.20 from $19.40.
Read MoreSo good was Fortescue Metals’ year that the company almost doubled underlying earnings from the previous period as iron ore prices hit all-time highs in the final quarter of the year to June.
Read MoreFortescue Metals Group, the 4th biggest iron ore miner in the world, is heading for a record for the year to June 30 after reporting a record 49.3 million output in the June quarter.
Read MoreMorgans lowers the rating for Fortescue Metals Group to Reduce from Add and decreases the target price to $18.70 from $21.10.
Read MoreStellar iron ore prices are supplying plenty of cash flow for Fortescue Metals so a modest lift in project costs has not induced panic.
Read MoreThe broker retains an Outperform rating and $23 target.
Read MoreA fair bit going on at the moment, here are a few developing stories from over the weekend we thought you might like updates on, involving PEXA / LNK, ING, SHV, TAH and FMG.
Read MoreResource stocks surged on the ASX in Monday trading with some of the majors and the broader market reaching new highs thanks to record iron ore and copper prices.
Read MoreNeutral with a target of $18.
Read MoreFortescue Metals is looking likely to enjoy a substantial surge in revenue for the six months to June that will boost earnings and dividends for shareholders for the full year.
Read MoreUBS downgrades to Neutral from Buy, reducing the target to $18 from $25. Fortescue Metals has generated a total shareholder return of 213% over 12 months on the back of the strong iron ore price.
Read MoreMacquarie expects the proceeds from the new US1.5bn senior unsecured note issue will be used to repay a -US$750m facility due in 2022. The Outperform rating and $25.50 target are unchanged.
Read MoreMacquarie believes the group’s second-half earnings could exceed US$6bn with a final dividend of more than $2 per share, translating to a yield of 15%. Outperform rating with the target dropping to $25.50 from $26.50.
Read MoreWhile Fortescue and Oz Minerals both recorded strong results, South32 looks for the most part to have completely missed the bus on the recent commodities boom.
Read MoreShares in Fortescue metals Group fell nearly 3% in late trading after the company revealed the sudden departure of three senior executives associated with its Iron Bridge magnetite project.
Read MoreFortescue Metals beat on all of shipments, realised prices and costs in the December quarter. Guidance remains unchanged but currency headwinds are beginning to drag, the broker notes. Target falls to $26.50 from $27.00, Outperform retained.
Read MoreCredit Suisse notes Fortescue Metals Group presented a solid set of December quarter numbers, ahead of expectations. Neutral and $16.50 target retained.
Read MoreFortescue Metals announced it is expecting a record first-half profit of between $US4 billion and $US4.1 billion when it releases results on February 18.
Read MoreFortescue Metals Group has announced it expects to report earnings of US$4.0-4.1b for the first half FY21, marginally below the estimate of US$4.3b forecast by Macquarie. The Outperform rating is unchanged and the target is reduced to $27 from $27.20.
Read MoreStrong demand from Chinese steel mills and renewed supply concerns about Brazil saw iron ore prices urge to new highs on Monday.
Read MoreThe iron ore price so far in December is up 21.65% and looks very much in a boom and that will, if past history is any guide, end in tears and a big slide. The sharp rise in prices has triggered a moan from China’s steel industry.
Read MoreGlobal iron ore prices surged to new multi-year highs well above $US150 a tonne on Thursday after a tropical low in the Indian Ocean triggered moves to clear Port Hedland of vessels and send them to sea.
Read MoreAnother surge in iron ore prices Wednesday saw new multi-year highs reached. Global iron ore prices topped $US150 a tonne for 62% Fe fines for the first time in nearly 8 years on Wednesday, while the price of 65% high-grade ore went well over $US162 a tonne.
Read MoreGlobal iron ore prices rose again on Monday, hitting new multi-year highs, despite another fall in import volumes into China in November.
Read MoreIron ore prices are up 56% in the year to date – compared with around 24% for copper – its 2020’s best performing commodity and incoming supplies remain tight while steel output continues to rise on strong infrastructure demand.
Read MoreAs predicted in yesterday’s edition, Wednesday’s surge in world iron ore prices to seven-year highs saw the prices of Australia’s major miners jump sharply on Thursday.
Read MoreIron ore prices have hit new seven-year highs on emerging fears of a shortage in early 2020. The fears were sparked by the surprise move by big Brazilian exporter, Vale, to trim its 2020 production estimate for a third time this year and set a smaller than expected first estimate for 2021 output.
Read MoreFortescue Metals has made a strong start to FY21 with record shipments in the September quarter. The miner achieved 89% revenue realisation and finished the quarter in a solid cah position, the broker notes.
Read MoreFortescue Metals has continued the solid September quarter performance by our major listed iron ore exporters. The company told the ASX yesterday that it shipped a record 44.3 million tonnes, up 5% on the same quarter a year ago. BHP and Rio also did well in the three months to September 30 with small rises.
Read MoreA remarkable 31% lift in iron ore fines production by Vale, the huge Brazilian miner, has signalled what could be the start of a downturn in global iron ore prices in 2021. In fact, if Vale continues boosting supply this quarter, pressure on prices will emerge in November and December.
Read MoreIron ore exports to China recovered in August, but were still far short of the record 46.2 million tonnes shipped from Port Hedland in June, the Pilbara Ports Authority reported on Tuesday.
Read MoreFortescue Metals Group posted a bumper FY20 result, while surprising with a $1.00 per share dividend, which was 4% ahead of Morgans estimate.
Read MoreAs widely forecast Australia’s third iron ore exporter Fortescue will pay a $A1 final dividend (fully franked) after a year of bumper demand from Chinese steel mills and 6 year plus highs for global iron ore prices that sent earnings soaring to record levels.
Read MoreJuly’s slump in Australian iron ore exports to China from the world’s largest export port at Port Hedland has passed without too much comment, so was it a one-off or was it something deeper?
Read MoreWhile Fortescue Metals will report another huge year in terms of revenue and profits next month for the year to June, that could be the peak.
Read MoreIron ore exports hit record levels in the June quarter and in the year to June, according to figures from the Pilbara Ports Authority. That performance helped total iron ore exports for the year to June from the two major ports – Port Hedland and Dampier jump 3% to a record 717.3 million tonnes.
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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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