The dismemberment of the Kerry Stokes’ media empire, Seven West Media continues with the sale of the company’s controlling interest in much of its international production businesses in the US and UK to Beyond International for an undisclosed amount.
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Chalice Gold Mines – (ASX: CHN, Share Price: $1.155, Market Cap: $351m, coverage initiated @ $0.16 in March 2019 – current gain of 622%)
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Iron 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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Rio Tinto surprised yesterday by revealing – in the midst of a recession – that it will close its ageing New Zealand aluminium smelter with the loss of 1,300 direct jobs and thousands more in other sectors.
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Australia’s biggest wine group, Treasury Wine Estates (TWE) is looking at a sharp, a 21% hit to full-year earnings after COVID-19 ravaged its operations across the globe, on top of problems in the US and Chinese markets.
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The financial position of Freedom Foods has obviously worsened considerably in the past week judging by yesterday’s request (which was granted by the ASX) for an extension of the company’s suspension until October.
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Yesterday we saw two conflicting outcomes from retail issues – Super Retail Group attracted support from around two-thirds of its retail shareholders while online retailer, Kogan.com had to increase the size of its issue after being knocked down in the rush.
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Shares in Northern Star Resources jumped 6.4% yesterday off the back of the overnight surge in gold prices to around $US1,808 an ounce, a near eight-year high, and an encouraging update for the 2020 financial year, including good news for shareholders on the delayed interim dividend.
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Given the very positive reaction from investors to the Kogan retail issue, buy now pay later group, Afterpay will be knocked down in the rush from its retail base when its offer opens shortly.
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Services group, Downer EDI has won a $400 million-plus, 13 year set of contracts to maintain roads for the South Australian government.
Read MoreBuy now, pay later group Afterpay will raise $800 million in fresh capital as part of a strategy to speed up its global expansion, while co-founders Anthony Eisen and Nicholas Molnar will sell $250 million in shares as an add-on to the raising.
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Despite the likelihood of a subdued second half, Pinnacle Investment Management is considered well-placed to take advantage of investors seeking more attractive options offshore.
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Generic drugmaker, Mayne Pharma shares went for a little run yesterday after the company revealed a link up with a fellow generic maker from China to try and make deeper inroads into the US contraceptive market.
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Shares in women’s fashionwear retailer, City Chic jumped more than 5% yesterday despite the company pouring cold water on speculation it may be gearing up for another international acquisition.
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Mark Zeptner MD of Ramelius Resources presents at the ShareCafe Mid-Cap Gold Miners Leading The Way Webinar on July 3, 2020. Ramelius currently operates the Mt Magnet, Vivien, Edna May and Marda gold mines and associated processing plants around Western Australia. The Company has enjoyed significant success in recent years with increased gold production and the addition of new assets including the Marda and Tampia Hill gold projects, both also in WA.
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Jim Beyer MD & CEO of Regis Resources presents at the ShareCafe Mid-Cap Gold Miners Leading The Way Webinar on July 3, 2020. Regis Resources is a publicly listed Perth based gold production and exploration company with a proven management team that has a successful track record of developing mid-sized gold operations within Australia and Africa.
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John Welborn CEO Resolute Mining presents at the ShareCafe Mid-Cap Gold Miners Leading The Way Webinar on July 3, 2020. Resolute is a successful gold miner with more than 30 years of experience as an explorer, developer, and operator of gold mines in Australia and Africa which have produced more than 8 million ounces of gold.
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After another capital raising, will Webjet be free to pursue the acquisition of distressed travel assets or is protecting the balance sheeta priority?
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A few weeks ago I wrote a column entitled Lessons Be Handed To Newbies where I highlighted how ridiculous certain stocks had become because of the sheer numbers of new entrants into the market. Speculation had quickly evolved into the “greater fool” theory – a case of buying something, anything in the hope that a bigger fool than you will buy it off you for a higher price. Naturally if that doesn’t happen then congratulations you are the biggest fool!
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It’s no fun being CEO at Funtastic. The embattled toy wholesaler Funtastic said on Thursday that CEO David Jackson will resign, following yet another cost-focused restructure of the retailer which means it will no longer need a chief executive of his “experience and gravitas”.
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NZ-based Outdoors retailer Kathmandu looks like reporting a 30% fall in profits for the year to July and is not confident at all about prospects in the 2020-21 financial year starting August 1.
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Suncorp has signalled higher reinsurance costs have made it more economic to retain risk on the balance sheet. Brokers are wary of this, given the number of headwinds confronting insurers.
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Global developer and investor Lendlease has warned its loss for the 2020 year could blow out to as much as $340 million due to more write-downs on the engineering services business and asset values.
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First Kogan.com now Temple and Webster, the other major listed sole online homewares and furniture retailer will look to raise new capital from shareholders to help bolster its digital offering after the surge in sales earlier in the year during depths of the coronavirus lockdown, continued in June.
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Earlier this year Oil Search revealed big cuts in investment and other spending as global oil prices collapsed, taking LNG prices with them. The cuts were so deep that to achieve them, the company would have cut staff.
Read MoreExplorer Krakatoa Resources now has a second project just as promising – if not more so – than the deep porphyry copper/gold system it appears to have at its Belgravia prospect, in the prolific Lachlan Fold belt in New South Wales.
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Momentum in KFC Australia underpins Collins Foods as consumers readily engage with the company’s delivery options and as restrictions around dining-in continue to ease.
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Collins Food shares jumped more 13% at one stage yesterday despite a COVID-19 driven fall in earnings for the year to May 3.
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ASX-listed shares in Fisher & Paykel Healthcare (FPH) surged more than 6% in yesterday’s big sell-off after New Zealand’s most valuable company posted a 37% jump in its annual profit to a record $NZ287 million as the coronavirus caused an unprecedented increase in demand for its products.
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It was tacked on to the full-year profit announcement Metcash late last week and attracted little attention.
At $57 million it wasn’t in the same league as Metcash’s solid profit and revenue figures from its supermarkets, liquor and hardware operations.
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Ratings group, Moody’s reckons Qantas’ $1.9 billion capital raising, 6,000 job cuts and other measures announced late last week will be “credit positive because Qantas will use the proceeds to strengthen its balance sheet and improve its financial flexibility, in line with its financial framework.”
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Antisense Therapeutics CEO Mark Diamond presents at the ShareCafe Hidden Gems Webinar on June 26, 2020. Antisense is an Australian publicly-listed biotechnology company, developing and commercializing antisense pharmaceuticals for large unmet markets in rare diseases. The products are in-licensed from Ionis Pharmaceuticals Inc. (NASDAQ: IONS), an established leader in antisense drug development.
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Memphasys Ltd CEO and Executive Chairman Alison Coutts presents at the ShareCafe Hidden Gems Webinar on June 26, 2020. Memphasys is an Australian publicly-listed bio-separations company developing and commercialising innovative separation techniques based on the Company’s proprietary membrane technology.
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Kazia Therapeutics CEO Dr. James Garner presents at the ShareCafe Hidden Gems Webinar on June 26, 2020. Kazia is an innovative oncology-focused biotechnology company, based in Sydney, Australia. The company’s pipeline includes two clinical-stage drug development candidates, and Kazia is working to develop therapies across a range of oncology indications.
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Splitit Payments CEO Brad Paterson presents at the ShareCafe Hidden Gems Webinar on June 26, 2020. Splitit is a payment method solution enabling customers to pay for purchases with an existing debit or credit card by splitting the cost into interest and fee-free monthly payments, without additional registrations or applications.
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As the global economy contracts over 2020 lithium, already suffering surpluses, is now affected by a hiatus in demand. How low will prices go?
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Concerns over the balance sheet and work in hand atPerenti Global have dissipated, with the company’s update supporting a robust outlook.
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Shareholders in Virgin Australia (VAH) have been wiped out in the sale of the failed airline to private equity group, Bain Capital.
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MCT has provided an exploration update with respect to the June 2020 Phase One drilling program at its Kookynie Gold Project in the Western Australia’s Goldfields region. MCT’s share price closed up by 107% – or $0.014 – to $0.029 in Thursday’s trade.
Read MoreFreedom Foods shares are now suspended for the next 14 days while the company investigates a massive $50 million blow out in inventory costs and other charges of just on $16 million.
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