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Tag: EVN

Markets / Shares

Evolution Slammed 20% as Regression Sets In

June 27, 2022June 27, 2022 - by Glenn Dyer

Shares in gold and copper miner Evolution Mining ended a rough Monday down nearly 22% – their lowest level since the end of 2017 – after a weak market update.

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Markets / Shares

Evolution Marked Down 5% on Trimmed Output

April 21, 2022April 21, 2022 - by Glenn Dyer

Evolution Mining has been forced to trim its estimated 2021-22 gold output forecast, news that saw investors send the shares down almost 5% to $4.34 in ASX trading on Thursday.

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Commodities / Markets / Shares

Mixed Bag of Results from Gold Giants

February 18, 2022February 21, 2022 - by Glenn Dyer

The report card for the country’s three major ASX-listed gold miners – Newcrest, Northern Star and Evolution Mining – for the six months to December can be regarded as a pass mark at best.

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Broker News

EVN – Credit Suisse rates the stock as Neutral

January 28, 2022January 31, 2022 - by Broker News

The broker adjusts its target price to $3.70 from $3.80 and maintains its Neutral rating.

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Markets / Shares

Market Likes Evolution’s Ernest Henry Move

November 18, 2021November 18, 2021 - by Glenn Dyer

The market responded favourably to news that Evolution Mining (ASX: EVN) has snapped up full control of the Ernest Henry mine in far northern Queensland for $A1 billion from Glencore.

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Commodities / Markets / Shares

Upbeat Updates from OzMin and Evolution

October 20, 2021October 20, 2021 - by Glenn Dyer

Things are bubbling along quite nicely for two local resource companies, with Oz Minerals lifting its full-year guidance and Evolution Mining beating expectations on both an earnings and cost basis.

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Commodities / Markets / Shares

Evolution Streamlines with Sale to Navarre

October 5, 2021October 5, 2021 - by Glenn Dyer

Evolution Mining has slimmed its mine portfolio with the proposed $90 million sale of its Mt Carlton gold mine and Crush Creek prospect in North Queensland to Navarre Minerals.

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Markets / Shares

Profit Briefs: NCM, S32, EVN, ORG

August 19, 2021August 19, 2021 - by Glenn Dyer

With peak reporting season upon us, here are snippets from the results announced yesterday by resource companies Newcrest, South32, Evolution Mining and Origin Energy.

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Broker News

EVN – Morgans rates the stock as Hold

July 27, 2021 - by Broker News

Morgans maintains its Hold rating, and reduces its price target to $4.34 from $4.49, as the broker awaits further detail on the Mungari expansion.

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Commodities / Markets / Shares

Evolution Continues Expansion with Kundana Deal

July 22, 2021July 22, 2021 - by Glenn Dyer

Days after confirming its $1 billion Cowal expansion, Evolution has revealed a $400 million transaction to turn its Mungari mine into a ‘cornerstone’ asset in a deal with rival Northern Star Resources.

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Commodities / Markets / Shares

Differing Theories of Evolution

July 18, 2021July 18, 2021 - by Glenn Dyer

Some good news, a bit of bad, and spending hundreds of millions of dollars didn’t win the minds of investors for Evolution Mining, with the company’s shares losing 5% on Friday.

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Broker News

EVN – Morgans rates the stock as Hold

May 14, 2021 - by Broker News

The Hold rating and $4.68 target are retained.

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Broker News

EVN – Credit Suisse rates the stock as Outperform

March 26, 2021 - by Broker News

Credit Suisse likes Evolution Mining for its peer low cost, strong free cash flow generation and positive production growth outlook. The Outperform rating remains intact with the target dropping to $4.60 from $5.10.

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Commodities / Markets / Shares

Battle North Accepts the Theory of Evolution

March 15, 2021March 15, 2021 - by Glenn Dyer

Gold miner Evolution is expanding its involvement in the Canadian mining industry with a second deal in less than two years, the purchase of Canadian group Battle North.

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Shares

Catalysts Aplenty Ahead For Evolution Mining

October 28, 2020November 2, 2020 - by Eva Brocklehurst

A soft September quarter was expected for Evolution Mining but two key assets are in transition and represent key upcoming catalysts for the gold producer.

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Commodities / Shares

Consistency A Hallmark Of Evolution Mining

September 3, 2020 - by Eva Brocklehurst

Evolution Mining has confirmed its reputation as a consistent performer in the gold sector, although most brokers assess this is reflected in the price.

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Commodities / Shares

More Upside Likely For Oz Gold Equities

May 20, 2020 - by Eva Brocklehurst

A rising US dollar gold price is taking global gold equities higher and brokers note Australian gold stocks are lagging the move.

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Commodities / Shares

Gold Stocks A Beacon In The Dark

March 30, 2020March 31, 2020 - by Eva Brocklehurst

Gold equities have suffered from the liquidity-driven global sell-off over recent weeks but several brokers suggest the outlook is much brighter, as flight-to-safety concerns take over.

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Commodities / Shares

Evolution Mining Downgrades Outlook On Mt Carlton Setback

January 13, 2020 - by Glenn Dyer

2020 is looking like being a year to forget for gold miner Evolution even as gold prices have started the year strongly and the Aussie dollar has again faded back well under 70 US cents.

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Broker News

EVN – Ord Minnett rates the stock as Hold

January 13, 2020 - by Broker News

Both production and costs were below guidance in the December quarter. The company has also flagged a potential downgrade to the resource at Mount Carlton and water security issues at Cowal.

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Shares

Evolution Receives Positive Reception For Red Lake Buy

November 28, 2019November 27, 2019 - by Glenn Dyer

A mostly positive reaction from the market to the late news on Tuesday from Evolution Mining revealing a big move into Canada.

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Commodities / Shares

Evolution Mining Joins March North With Newmont Goldcorp Deal

November 27, 2019November 27, 2019 - by Glenn Dyer

Australia’s move into the North American gold mining industry continues with Evolution Mining revealing a $US375 million ($A553 million) deal with the world’s biggest gold miner, Newmont Goldcorp, to buy the latter’s Red Lake gold mining complex in Canada.

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Commodities / Shares

Sniffing Out Golden Opportunities On The ASX

July 25, 2019July 25, 2019 - by Tim Boreham

Bullion’s romp beyond the record $2000 an ounce level in Aussie dollar terms has prompted investors to take a closer look at the pantheon of ASX-listed local gold producers – despite some problems in the mid-tier that have tarnished the sector.

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Commodities / Shares

Gold Really Is Shining – My Forecasts Raised

July 19, 2019July 19, 2019 - by Greg Tolpigin

I know this is the fifth time I am writing about gold but with the precious metal surging to fresh new multi-year highs I need to stress to readers the enormous opportunity that is being presented to investors.

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Commodities / Shares

How Great Does Gold Look?

June 14, 2019June 14, 2019 - by Greg Tolpigin

Gold continues to perform well in US dollar terms and even better in Australian Dollar terms and the backdrop to a higher gold price is only strengthening. It, along with the “yield crunch” thematic I have discussed here all year long are my two favourite broad market trends that present an enormous opportunity for investors.

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Commodities / Shares

Gold Shorts: Pogo Deal Lifts Northern Star, Evolution Loses Shine

February 14, 2019February 13, 2019 - by Glenn Dyer

Two contrasting results from two of the country’s major medium level gold miners – Northern Star Resources and Evolution Mining.

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Commodities / Shares

Higher Costs Hit Evolution Mining

January 25, 2019January 24, 2019 - by Glenn Dyer

Rising costs and falling production hit Evolution Mining yesterday with the shares down after the December quarter report revealed the extent of the problems.

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Shares

Evolution Mining Posts Solid Quarter

April 20, 2018 - by Glenn Dyer

Shares in Evolution Mining rose 0.9% to $3.36 yesterday after it reported a solid March quarter production effort and narrowed its full year guidance range.

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Shares

Tax Costs Sting Evolution Mining

February 16, 2018September 5, 2018 - by Glenn Dyer

Gold miner Evolution Mining has boosted shareholder returns sharply despite a 10% slide in interim to $122.5 million for the December half. Directors declared a fully franked interim dividend of 3.5 cents, up from two cents unfranked a year ago.

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Shares

Evolution Posts Strong Quarter

October 17, 2017 - by Glenn Dyer

Gold miner Evolution has lifted production and cut costs in the September quarter, helped by a strong performance at its Cowal mine in NSW and Ernest Henry and Mt Carlton mines in Queensland.

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Shares

Evolution Divests Edna May Gold Mine

September 19, 2017 - by Glenn Dyer

Evolution Mining trimmed its 2017-18 gold production guidance and cut its costs estimate after selling the high cost Edna May mine to Ramelius Resources for up to $90 million.

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Shares

‘Delighted’ Evolution Mining Returns To Profit

February 17, 2017 - by Glenn Dyer

Evolution Mining (EVN) had a series of good news announcement for the market yesterday – a return to profit, and record profit, a doubling of interim dividend and the decision to push ahead with the more than $260 million worth of spending on the expansion of its Cowal gold mine in western NSW.

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Shares

Evolution Mining shares outperformed in yesterday’s miserable market

June 29, 2016 - by Glenn Dyer

Evolution Mining shares outperformed in yesterday’s miserable market, thanks to a trading update which revealed a doubling of its dividend rate after a strong performance on production and costs in the 2015-16 financial year.

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Shares

Upgrade On The Cards At Evolution

October 13, 2015 - by Glenn Dyer

Emerging gold miner, Evolution Mining (EVN), looks set for another upgrade to its performance after the market caught up with its September quarter production and exploration update yesterday.

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Shares

Evolution To Buy Barrick’s Cowal Gold Mine

May 26, 2015 - by Glenn Dyer

Evolution Mining (EVN) has surprised by winning the bidding for Barrick Gold’s rich Cowal gold mine in central NSW for $US550 million (or $A704 million).

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Paxalisib Misses AGILE Hurdle, but Very Significant Value Remains

Investors Over-React, Smart Ones Will Profit

Kazia Therapeutics (KZA) announced yesterday morning that paxalisib did not meet the threshold to move into stage 2 of the GBM AGILE clinical trial (NCT03970447). The study was an adaptive trial designed to assess the potential of new therapeutics to treat the highly aggressive brain cancer glioblastoma (GBM) in a cost-effective manner. Demonstrating efficacy in GBM is an extremely high hurdle as shown by the fact that there is only one approved drug for the disease, temozolomide, and it is only effective in 1/3 of patients.

Given the high nature of the hurdle, in our original initiating coverage report on KZA, we only gave paxalisib a small chance of returning a positive result from the overall study. That is the nature of drug development with one group estimating only 6% to 7% of new chemical entities that commence clinical trials reach launch (Dowden & Munro (2019) Nat Rev Drug Discov). The small percentage that do make it to launch, however, more than make up for the cash spent on those that don’t.

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    The Cash keeps coming

    Terracom will report their FY2022 results in September 2022. In the last two months there have been a number of company announcements that have given us improved visibility on our earnings forecasts and valuation metrics so we have taken this opportunity to update our numbers.

    With the combination of geopolitical factors in the northern hemisphere as well as disruption from other supply regions, we believe the visibility on export coal prices over the next 12 months has also improved since our March note.

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      Acquisitions underpin strong near term growth opportunities not reflected in share price

      Stealth Global Holdings (SGI) provides direct exposure to the growing industrial consumables market, driven by favourable conditions across key industries, expanding industrialisation and improving workplace safety regulations. Around 95% of revenue is attributable to non-discretionary items.

      Based on our current forecasts, we derive a DCF equity value for SGI of $0.33 per share, with potential upside if full synergies can be extracted. We note SGI is currently trading on very undemanding forward multiples.

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        4Q 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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          Signs 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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            Strategic Vanadium-battery growth with Titanium & Iron earnings resiliency

            TNG 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 rise

              Two 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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                Biopharmas Hit, but Buying Opportunities Created

                The news being reported about the performance of biotechnology has been dour, to say the least, for some time now. Those dour articles have been deserved with the iShares Biotechnology Exchange-Traded Fund down 25% and the SPDR® S&P® Biotech ETF is down 45% from their highs. However, those articles are backward-looking, and successful investors need to be looking forward.

                Recently, however, an article in Nature Reviews Drug Discovery caught our eye which we believe should point the way forward for the vast majority of Australian biotechnology investors. This article indicates that, at least, two companies, Antisense Therapeutics (ANP) and Kazia Therapeutics (KZA), are right in the sweet spot in terms of the future of drug development.

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                  Hitting goals – Making four material announcements

                  We initiated on Magnis Energy Technologies (MNS.ASX) in December 2021 and since then, MNS has made four material announcements. Firstly; a conditional offtake contract for 600,000t of graphite concentrate from the Tanzanian Nachu Project (net 100%) was signed with Traxys, a global
                  commodities merchant with annual revenue of ~US$6Bn; secondly; semi autonomous production has started at battery gigafactory iM3NY, thirdly;
                  exciting Extra Fast Charge battery tests were reported and most recently, the game changing launch of the Lithium Slim Energy Reserve battery platform, which supports C4V’s growing EFC capability.

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                    Increasing our Target

                    Despite 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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                      Emerging Financial Wealth Advisory Group

                      WT 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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                        Immutep Taking the Fight to Cancer

                        In 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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                          Phillips 66 to acquire 16% in NVX – 12-month target price rises 7% through project de-risking

                          Phillips 66 (PSX) has entered into an agreement with NVX to acquire 77.9m new shares for US$150m (A$203m). PSX is the worlds largest producer of speciality petroleum coke a precursor for battery grade synthetic graphite anode materials found with an Enterprise Value of US$47.5Bn and assets of US$57Bn.

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                            Market leading lifelong learning platform technology company in Australia and SE Asia

                            PayGroup (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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                              Market leading lifelong learning platform technology company in Australia and SE Asia

                              OpenLearning (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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