China’s huge manufacturing industry has slowed to a halt. The two monthly surveys of manufacturing activity suggested that yesterday as other surveys for Japan and Australia showed business, especially manufacturing, starting to turn up.
Read MoreLot’s of statistics over the weekend from home and offshore about the way markets went for the financial year as well as the June quarter, the month of June and the last week of the month.
Read MoreInterest rates and the economy return to centre stage this week, replacing the political stuff from the past couple of weeks.
Read MoreA spot of window dressing in the battered gold markets in New York on Friday night our time with the metal ending up 2.2% as investors who were shorting the metal decided to cover their positions.
Read MoreMore gloomy news for gold bugs with another bout of selling overnight which drove gold prices down by more than 2%, forcing it under $US1,200 an ounce in US futures trading for the first time in 34 months.
Read MoreHere’s a surprise profit upgrade – from retailing, and from the furniture side of the sector at that. Nick Scali (NCK), the Sydney based furniture retailer says that despite a slowdown in the current quarter, it will be reporting higher sales and earnings (after a strong first half) in August.
Read MoreToll Holdings (TOL) has joined the downgrade club (unlike Asciano, its former ports business).
Read MoreElders (ELD) is continuing its rebirth as a rural services business by appointing as chairman a man with long experience in the sector.
Read MoreThe slowing resources investment boom has seen another project delayed – with the $1.25 billion Eagle Downs underground export coking coal mine’s start up date put back by at least six months as the developers Aquila Resources (AQA) and Brazilian mining giant Vale slow the pace of work.
Read MoreMore body blows overnight for gold bugs and shareholders in gold miners here and around the world – there was another sharp fall in the world price. Now forecasts are being slashed for the rest of this year and 2014 with the metal is about to experience its worst quarter since 1971 according to data from Bloomberg and other sources, and there could be more to come in the next quarter according to forecasts from a number of leading investment banks.
Read MorePort operator Asciano (AIO) has survived what amounts to an ever so small downgrading of expectations for its businesses for 2014.
Read MoreIt’s no wonder that Newcrest Mining (NCM) is worried that corporate regulators, led by ASIC, are going to find something amiss with its continuous disclosure regime after the kerfuffle over whether the company did signal to analysts and some others that there was going to be a downgrade and asset impairments – news that wasn’t freely available to the market ahead of its release nearly three weeks ago.
Read MoreYes, there’s money in some areas of the fast food sector, but not all, if the annual results from Collins Foods Ltd are any guide.
Read MoreThis is hardly a surprise – but Goodman Fielder (GFF) says it will earn less this year. And in its own now familiar way, the company chose to highlight a private bread making contract (the good news?) ahead of the downgrade news which was the real fibre in yesterday’s statement to the ASX.
Read MoreAMP has joined the downgrade club, revealing that interim earnings for the six months to June 30 could fall by 13% or more, thanks to falling interest rates and the slide in stock markets since April.
Read MoreOnline booking business Wotif (WTF) joined the growing downgrade club an hour before the market closed yesterday and escaped fairly lightly, despite revealing a slide of around 12% in estimated 2012-13 profit.
Read MoreAmid yesterday’s big market sell-off, Supermarket group and supplier, Metcash (MTS) stood out with a sharp, 6.7% jump in earnings for the year to April 30.
Read MoreAccording to the share price index future contract, the Australian stock market faces a rough morning when trading restarts after the weekend break.
Read MoreThankfully, we should have a much quieter week after the tumult and selling triggered by the results of last week’s meeting of the US Federal Reserve.
Read MoreA rare profit upgrade emerged from the late filings at the ASX on Friday night.
Read MoreDon’t worry about the slide in the dollar, or yesterday’s fall in the stockmarket – pay attention to what’s happening in China where the country’s central bank has again driven short term interest rates to new highs as it seemingly tries to bring banks and others into line.
Read MoreLike Australia, NZ experienced weak to sluggish economic growth in the first quarter of this year.
Read MoreA combination of a weak stock market, the worse than expected early figures from the monthly survey of Chinese manufacturing and a surprising downgrade of its iron ore production target for 2012-13 saw shares in Fortescue Metals Group sold off sharply yesterday.
Read MoreShares in Sydney-based McPherson’s Limited (MCP) plunged more than 20% yesterday as investors reacted negatively (as they would) to the market update and profit downgrade issued well after trading ended on Tuesday afternoon.
Read MoreTroubled former billionaire, Nathan Tinkler has lost his $600 million stake in Whitehaven Coal (WHC) to US investment firm Farallon Funds and other creditors.
Read MoreA more confident US Federal Reserve moved markets this morning when it produced more upbeat forecasts for the US economy after its two day meeting in Washington.
Read MoreThe future of Elders continues to remain up in the air.
Read MoreNow that wasn’t too hard, was it?
Read MoreAgricultural products and water group Tandou Ltd (TAN) yesterday forecast a modest rise in profit for the year to June of between $200,000 and $1 million, thanks to some well-timed harvesting.
Read MoreMelbourne-based Labour hire company Skilled Group (SKE) has returned to the acquisition trail after a long absence and nailed a $75 million purchase in the oil and gas sector.
Read MoreLend Lease (LLC) shares fell more than 7% yesterday after it became the latest company to join the ‘bad news’ club with an indifferent earnings update.
Read MoreA few hours of peace on Friday in Asian trading was again replaced by a finishing panic on Wall Street as markets faded back into the red in a funk over the Fed’s quantitative easing.
Read MoreHopefully this week will see the future of the embattled rural services group, Elders, clarified once and for all.
Read MoreThe words of the US Federal Reserve and its chairman, Ben Bernanke dominate the week ahead for markets here and offshore.
Read MoreGet used to it – the rising volatility we have seen in the past three weeks will continue, especially for much of next week – the US is recovering and that, plus the stuttering attempts to reflate the moribund Japanese economy, are going to rattle confidence levels for investors around the world.
Read MoreHere’s a heads up for the new financial year.
Read MoreBrisbane-based financial services group, Suncorp (SUN), is attempting to clean up its balance sheet and get rid it of its ‘non-core’ or bad bank loans – at a cost of close to half a billion dollars in losses to be reported in the 2012-13 full year results in August.
Read MoreThe great Rio Tinto crash diet continues with reports the company is looking to sell down part of its collection of coal mining assets in NSW to another big miner – Glencore, owners of Xstrata.
Read MoreIf the stock market act is any guide (and it was last week), then the selling wave that has overwhelmed Newcrest Mining seems to be ending.
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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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