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nipper
Posted on: Today, 07:06 PM


Group: Member
Posts: 6,429

Bravo Mick, for your insights

If things revert to the mean, and they do, the pain will be prolonged.
  Forum: Investment Discussion

nipper
Posted on: Today, 01:45 PM


Group: Member
Posts: 6,429

https://www.sharecafe.com.au/2019/12/04/buo...elect-harvests/
QUOTE
SHV has used strong cash flow from both its almond and food division over FY19 to pay down all debt, ex leases, and underpin growth in the future.

FY19 results were ahead of broker estimates while yields in the almond divisions were above historical industry averages, and there was of -15% reduction in production costs per kilo. Operating net profit of $53m was up 160%, including an unfavourable marking to market of the 2018 crop. Almond earnings increased 132% because of higher prices and the best crop yield for the past decade that comparably offset higher water costs.

There was no formal earnings guidance provided for FY20 but the company assesses, based on a yield of 1.35t/acre, the theoretical crop would be around 21,000t with scope for a variance either way of 10%. Bell Potter upgrades estimates for FY20 by 8% and FY21 by 18% to reflect changes to yields, costs and pricing assumptions and assumes FY20 yields are -5% below theoretical levels.

The company generated $46m in free cash flow in FY19. UBS forecasts net debt in FY20 of $600,000, signalling the company could use around $80m of its $100m in undrawn facilities for growth and retain an acceptable leverage ratio of around 1x operating earnings.

The broker also envisages potential for geographic diversification amid expansion opportunities in California. Wilsons, too, notes the potential for further investment in almond and/or macadamia productio
  Forum: By Share Code

nipper
Posted on: Today, 12:13 PM


Group: Member
Posts: 6,429

QUOTE
... conditional placement of $146mill for Senegal.

It was priced at 4.25¢ a share, which represented a 12 per cent discount for FAR's five day volume-weighted-average-price, according to terms.
  Forum: By Share Code

nipper
Posted on: Today, 08:04 AM


Group: Member
Posts: 6,429

QUOTE
Talga has received applications under the SPP in excess of A$6.0 million. The Company had previously announced it was targeting A$3.0 million under the SPP, with the Talga Board having discretion to accept oversubscriptions above this limit.

In response to the strong shareholder support the Talga Board has decided that all eligible shareholders who applied for shares under the SPP will receive their full allocation of shares...

as usual these small outfits have no idea how much they'll pull in.

Should help the S/P as future demand for capital is pushed back. Now 47c
  Forum: By Share Code

nipper
Posted on: Yesterday, 07:51 PM


Group: Member
Posts: 6,429

From the AGM
QUOTE
We anticipate a considerably stronger 2H20, with a range of factors working in our favour including:
• a full six months contribution of Uni-span earnings, including the benefit of the first round of cost-outs;
• stronger results from Natform, primarily emanating from the Victorian market expansion;
• the profit contribution from the recently awarded Sun Metals contract; and
• continued growth in Victorian and New South Wales civil infrastructure revenues.

Longer-term we remain very optimistic for Acrow’s prospects. Industry forecasts point to buoyant transport infrastructure construction activity through to FY23, with a projected greater than 50% increase in value of work done, especially in the key growth markets of New South Wales and Victoria. We are also very encouraged by the Prime Ministers announcement of last week that the Federal Government will be fast tracking $3.8 billion in Road and Rail spend. This is very good news for our Business.
undemanding. Fragmented industry.
  Forum: By Share Code

nipper
Posted on: Yesterday, 07:15 PM


Group: Member
Posts: 6,429

QUOTE
The $57m market cap Acrow Formwork & Construction Services (ACF, 33c) is suitably obscure, but its handiwork is evident on building sites across the country.

Acrow hires formwork and scaffolding to civil infrastructure and residential projects. In the case of formwork — the wooden framing to cast concrete and such — the equipment is offered on a “dry hire” basis (with no attached labour). In the case of scaffolding, Acrow provides the muscle to erect the structures.

Having reverse listed in April last year, Acrow has just completed its first meaningful acquisition: the $21m cash-scrip acquisition of Queensland-based Uni-span Australia.

In the 2018-19 year, Acrow turned over $71m with underlying earnings (EBITDA) of $11.5m. In the same year, Uni-span chalked up $34m on EBITDA of $4.8m, so the acquisition is a true company maker. At Acrow’s AGM late last month, CEO Steven Boland pointed to a first (December) half performance similar to the previous year’s, followed by a “considerably stronger” second half.

Bell Potter forecasts current-year sales of $93m, a net profit of $9m and a 2.2c dividend, implying a yield of 6.8 per cent.
- Tim Boreham
  Forum: By Share Code

nipper
Posted on: Yesterday, 06:54 PM


Group: Member
Posts: 6,429

QUOTE
Energy stocks were a standout in the local session after OPEC+ members agreed to further production cuts into the first quarter of next year. That pushed global oil prices higher by 3 per cent

It spurred a 1.6 per cent lift in Woodside to $34.41. Santos added 1.7 per cent to $8.23, Beach Energy lifted by 5.2 per cent to $2.62 and Origin put on 1.5 per cent to $8.70.
  Forum: Macro Factors

nipper
Posted on: Yesterday, 06:38 PM


Group: Member
Posts: 6,429

Goat milk infant formula company Nuchev Ltd, which sells the Oli6 brand in chains including Chemist Warehouse and Coles supermarkets, made a robust debut on the ASX on Monday, listing at a 31 per cent premium.

Chief executive and major shareholder Ben Dingle said the company would now be accelerating its growth plans in a segment of the infant formula market growing five times as fast as the normal infant formula made from cow's milk.
  Forum: By Share Code

nipper
Posted on: Yesterday, 05:33 PM


Group: Member
Posts: 6,429

https://smallcaps.com.au/novonix-long-term-...er-samsung-sdi/

QUOTE
In addition to the supply agreement, Samsung and Novonix have agreed to explore other opportunities for the supply of new graphite anode materials for electric vehicle use in Samsung’s products under a parallel research and development collaboration scheme. This could potentially lead to Novonix supplying other materials it develops or supplemental joint ventures within the energy and materials market.

Last month, Novonix’s subsidiary Novonic BTS scooped an innovation award at the Annual Discovery Awards held in Halifax, Nova Scotia with Novonix managing director Philip St Baker hailing the achievement as a demonstration of how ongoing development is benefitting the group as a whole.

“Novonix BTS is our centre of excellence which we are encouraging to continue to develop and evaluate new materials, work with major battery makers and OEMs and potentially incubate new technologies for commercialisation, all while continuing to provide industry-leading charger equipment to companies around the world,” he said.

The supply deal with Samsung could serve as a potentially huge boost for Novonix as it seeks to grow its suite of products alongside sales globally.

Samsung SDI is currently one of the leading manufacturers of rechargeable batteries for the IT industry, automobiles and energy storage systems (ESS), as well as cutting-edge materials used to produce semiconductors, displays and solar panels.

The Korean company has been selected as a core battery supplier for over 30 vehicle electrification projects and the first vehicles already on the road with Samsung SDI batteries currently being used in the Fiat 500e, BMW i3 and BMW i8 electric vehicles.

“Novonix is extremely honoured to supply Samsung SDI and we look forward to supporting them in delivering higher performance batteries to the global market,” said Mr St Baker.
  Forum: By Share Code

nipper
Posted on: Yesterday, 12:15 PM


Group: Member
Posts: 6,429

QUOTE
Yangibana Project the next Rare Earths Producer
• Open-cut mine and process plant in Western Australia
• NPV A$549M – IRR 21% – Payback 3.4 years
• Capex (incl contingencies) - A$593M; Avg Annual Free Cash Flow (post tax) ~A$160M
• Fast ramp up to construction – 24 months to production

Low Risk Development
• UFK and KFW – A$250M loan for process plant / construction + commercial loan
• North Australia Infrastructure Fund (NAIF) to fund infrastructure – A$210M
• Offtakes – Schaeffler, Thyssenkrupp, Sky Rock Baotou
• Western Australia Minister of Environment Approval obtained

claim it could be running by 2022

And the trading halt for a capital raising in place. (Been a bit of a bride's nightie)

Singaporeans and Germans hovering; the Americans all talk
  Forum: By Share Code

nipper
Posted on: Yesterday, 10:02 AM


Group: Member
Posts: 6,429

"As Talk Of Legend’s WA Nickel Find Gains Pace, Orion Looks To Be Sitting Pretty Right Next Door"

- funny thing, markets. With LEG announcing, its share price more than doubles, while ORN is flat but the other 2 mentioned in dispatches, BOA and GAL, both slipping 20+%
  Forum: Macro Factors

nipper
Posted on: Yesterday, 09:47 AM


Group: Member
Posts: 6,429

AustSuper takes a 5% stake
  Forum: By Share Code

nipper
Posted on: Yesterday, 09:45 AM


Group: Member
Posts: 6,429

nice, and SHALLOW

the goss was a stretch, though
QUOTE
Industry chatter is that Legend has made a significant nickel-copper discovery, with lots of talk about a 16m intersection of massive to semi massive sulphides having been encountered, with 20m of disseminated sulphides on either side. If the whispers about the intersection being particularly rich ... the chatter is for more than 4% nickel
  Forum: By Share Code

nipper
Posted on: Yesterday, 09:34 AM


Group: Member
Posts: 6,429

It's a strange outfit. The PDF structure would be a benefit, I suppose , but the collection of projects is eclectic to say the least.
QUOTE
Recent activities include:
- Artificial Intelligence and Robotics unit ‘Stealth Technologies Pty Ltd’ has signed an agreement with global Fortune 100 software-industrial company ‘Honeywell’ to build experimental autonomous robotic vehicles.
- Materials technology unit ‘Australian Advanced Materials Pty Ltd’ is completing a demonstrator of printable transparent memory ink technology being developed with UNSW, CSIRO and VTT.
- Exploration Company ‘Maria Resources’ is currently preparing a maiden drilling program at the Behemoth Project using grant funding from the Western Australian government.


With behemoth and leviathan, will the next project be elephantine or Brobdingnagian? As long as subsequent ones don't include Titanic
  Forum: By Share Code

nipper
Posted on: Yesterday, 09:04 AM


Group: Member
Posts: 6,429

very much a pig in a poke. Best of luck
  Forum: By Share Code

nipper
Posted on: Dec 8 2019, 06:21 PM


Group: Member
Posts: 6,429

QUOTE
Shares in out of home ad group oOh!media soared by more than 30% after it upgraded earning guidance for the financial year ending December 31.

The company said it now expects FY19 underlying earnings before interest tax depreciation and amortisation (EBITDA) to come in between $138 million to $143 million, excluding integration costs and the impact from the change in accounting standards to AASB16. Previous guidance was for EBITDA of between $125 million to 135 million for the 2019 financial year.

“While…advertising bookings declined in the third quarter versus the prior year, improved bookings for September and the fourth quarter, which have paced positively over the prior year, have resulted in an upgrade,” the company told the ASX. “Growth in operational expenditure in FY19 is expected to be within the previous forecast range of 5-7 percent,” the company said in the update

“Capital expenditure for FY19 is expected to be at the mid to lower end of the $55-$70 million forecast range. “The Company reconfirms that the integration of Commute remains on track with an expected exit run-rate of $16 million in cost synergies for FY19,” directors said.

OOH shares soared to a high of $4.17 following the earnings upgrade before settling back to end up a still high 23.6% at $3.72.
  Forum: By Share Code

nipper
Posted on: Dec 8 2019, 09:16 AM


Group: Member
Posts: 6,429

More on ADT, prospects for Vares and possible takeover (Sandfire?)

https://www.livewiremarkets.com/wires/adria...r-vares-project
  Forum: By Share Code

nipper
Posted on: Dec 7 2019, 08:04 PM


Group: Member
Posts: 6,429

QUOTE
.... I wasn’t prepared for how exhausting working at Amazon would be. It took my body two weeks to adjust to the agony of walking 15 miles a day and doing hundreds of squats. But as the physical stress got more manageable, the mental stress of being held to the productivity standards of a robot became an even bigger problem.

Technology has enabled employers to enforce a work pace with no room for inefficiency, squeezing every ounce of downtime out of workers’ days. The scan gun I used to do my job was also my own personal digital manager. Every single thing I did was monitored and timed. After I completed a task, the scan gun not only immediately gave me a new one but also started counting down the seconds I had left to do it.

It also alerted a manager if I had too many minutes of “Time Off Task.” At my warehouse, you were expected to be off task for only 18 minutes per shift—mine was 6:30 a.m. to 6 p.m.—which included using the bathroom, getting a drink of water or just walking slower than the algorithm dictated, though we did have a 30-minute unpaid lunch. It created a constant buzz of low-grade panic, and the isolation and monotony of the work left me feeling as if I were losing my mind. Imagine experiencing that month after month....
.

https://www.amazon.com/dp/B07K6H5235/ref=dp...UTF8&btkr=1

Irony. You can buy it on Amazon
  Forum: Off Topic Chat

nipper
Posted on: Dec 7 2019, 12:43 PM


Group: Member
Posts: 6,429

Risk = reward
QUOTE
"We don't set out to mislead, they probably do assume that clients are more aware of what they are investing in than they actually are."

Before the 2008 global financial crisis, investors flooded into mortgage trusts to capture the attractive yields. They were offered immediate redemptions but, when the crisis hit, investors discovered their investments were illiquid and the funds were frozen.

And worse, now. Money flowing to mortgage trusts in the "Search for Yield"
QUOTE
LaTrobe's 90-day arrears rate is 1.8 per cent compared with Commonwealth Bank of Australia’s 0.68 per cent.

Credit rating agency S&P Global Ratings 90+ day arrears rate for prime Australian mortgages was 0.81 per cent as of September 30, up from 0.74 per cent 12 months earlier.

In Australia, a prime home loan has similar credit risk to a loan originated by a major or regional bank. The 90-day arrears rate for a prime home loan is considered to be below 1 per cent annually.

So, .....when is it subprime?
  Forum: Investment Discussion

nipper
Posted on: Dec 7 2019, 11:22 AM


Group: Member
Posts: 6,429

Mentioned here

https://www.sharecafe.com.au/2019/12/06/as-...ight-next-door/

Creasy and legendary !! Enough.
  Forum: By Share Code

nipper
Posted on: Dec 7 2019, 11:21 AM


Group: Member
Posts: 6,429

Mentioned here

https://www.sharecafe.com.au/2019/12/06/as-...ight-next-door/
  Forum: By Share Code

nipper
Posted on: Dec 7 2019, 11:20 AM


Group: Member
Posts: 6,429

Mentioned here
https://www.sharecafe.com.au/2019/12/06/as-...ight-next-door/
  Forum: By Share Code

nipper
Posted on: Dec 7 2019, 10:56 AM


Group: Member
Posts: 6,429

https://www.sharecafe.com.au/2019/12/02/csl...d-of-foresight/
  Forum: By Share Code

nipper
Posted on: Dec 7 2019, 10:48 AM


Group: Member
Posts: 6,429

As Talk Of Legend’s WA Nickel Find Gains Pace, Orion Looks To Be Sitting Pretty Right Next Door
QUOTE
Excitement is building around the expected release on Monday of the eagerly awaited assay results from the third hole drilled at Legend Mining’s (LEG) Area D prospect at its Rockford project in WA’s Fraser Range. Legend Mining was 4.2c a share ahead of going into a trading halt last week and a trading suspension this week, pending the release of the assay results.

Industry chatter is that Legend has made a significant nickel-copper discovery, with lots of talk about a 16m intersection of massive to semi massive sulphides having been encountered, with 20m of disseminated sulphides on either side.

If the whispers about the intersection being particularly rich - the chatter is for more than 4% nickel - then there will be some fun to be had for the juniors with a presence in the northern reaches of the Fraser. It was of course the 2012 discovery hole drilled by junior explorer Sirius Resources down south which went on to become the Nova nickel-copper deposit/mine, with Sirius taken over by Independence (IGO) in 2015 for $1.8 billion.

Independence has long believed the Fraser has more than one Nova to give up and has almost blanket coverage of the region’s prospective rocks, including an exposure to Legend’s Area D discovery through its 14.2% Legend shareholding.

Private “prospector” Mark Creasy is the other big player in the Fraser, thanks to his early pegging in the district after being impressed by what he saw from some rock kicking during an expedition for space junk from Skylab’s crash to earth in 1979. Creasy has the Silver Knight discovery to his name in the Fraser but because it is privately held, no one is sure if it is going to be another Nova or not. And for good measure, Creasy owns 26.8% of Legend.

Like the rest of us, Legend, Independence and Creasy will have to wait for the assays confirming Area D as something special before celebrating.... In anticipation of the results from Area D confirming a discovery, juniors with Fraser Range exposure have already been enjoying something of a share price celebration.

Galileo Mining (GAL), where Creasy is a 31% shareholder, has shot up from 11c since Legend went into a trading halt on November 28 to 21c, while Boadicea (BOA) has come up from 22c to 26c.

Today’s interest though is in Orion Minerals (ORN) which was trading yesterday at 2.8c to be pretty much were it was before Legend alerted the market to its Area D discovery hole, assays pending.
https://www.sharecafe.com.au/2019/12/06/as-...ight-next-door/

- Lots of nearology happening here. one for you, Blackie, to look into/ tear apart?
  Forum: Macro Factors

nipper
Posted on: Dec 6 2019, 12:12 PM


Group: Member
Posts: 6,429

QUOTE
Fintech company and business lender Tyro Payments has debuted on the Australian Securities Exchange, with a market capitalisation of $1.37 billion in the biggest Australian float of 2019.

The listing followed an initial public offering jointly managed by JPMorgan and Morgan Stanley which saw demand from institutional investors vastly outweigh a strategically limited supply.

The IPO raised $287.2 million at a top-of-range price of $2.75 per share, above the $253 million initially flagged. It got off the blocks with a starting price of $3.30 and reached $3.53 in the first hour of trade.

At a bell ringing ceremony in Sydney, Tyro chief executive Robbie Cooke said the float allows the 16-year-old fintech to continue clawing market share from the major banks. "This process has made us a stronger challenger providing Australian businesses with better payments and banking solutions," he said.
  Forum: By Share Code

nipper
Posted on: Dec 6 2019, 08:54 AM


Group: Member
Posts: 6,429

Here’s why the Clinuvel share price is flying today

https://www.fool.com.au/2019/12/05/heres-wh...s-flying-today/
  Forum: By Share Code

nipper
Posted on: Dec 5 2019, 11:57 AM


Group: Member
Posts: 6,429

bought in yesterday 75c smile.gif
  Forum: By Share Code

nipper
Posted on: Dec 5 2019, 08:22 AM


Group: Member
Posts: 6,429

In trading halt. Time for a confession??!
  Forum: By Share Code

nipper
Posted on: Dec 4 2019, 10:02 PM


Group: Member
Posts: 6,429

saw an interesting quote about the markets:

"They go up in percentage terms, but the drops are measured in the Billions
  Forum: Macro Factors

nipper
Posted on: Dec 4 2019, 10:46 AM


Group: Member
Posts: 6,429

QUOTE
• Orthocell receives firm commitments for a A$13m Placement
• Demand for the Placement well in excess of funds sought with support from existing shareholders, new institutions and other sophisticated investors
• Share purchase plan for eligible shareholders for up to approximately A$5m
• Combined proceeds to be used to accelerate US, EU and AUS regulatory approvals and commercialisation of CelGro®; advance the commercialisation of Ortho-ATI® and scale up manufacturing facilities
50c a share .... which is where it is trading today
  Forum: By Share Code

nipper
Posted on: Dec 4 2019, 08:41 AM


Group: Member
Posts: 6,429

it's the merchants that 'pay' for these so called debit lenders. The consumer gets offered the bait and then services the repayments. Reality is that if you pay cash you should be able to ask for a discount of 5% at the very least as this is the gouge the merchants are wearing, to drive volume. But then we all know the RRP* system is Potemkin pricing. With the so-called Black Friday just passed, some discounts were running at 65% off RRP.

The stat that got to me was: Subprime means having a credit score below 620. .... That's for consumers? I figure Sub-investment Grade, or Junk, still works for Corporates
  Forum: Investment Discussion

nipper
Posted on: Dec 4 2019, 08:02 AM


Group: Member
Posts: 6,429

thanks Mick. Well worth a perusal.
  Forum: Investment Discussion

nipper
Posted on: Dec 3 2019, 08:00 PM


Group: Member
Posts: 6,429

Some more:

QUOTE
Bob Farrell was a widely followed .. at Merrill Lynch. Wall Street people still speak of him reverently. Some of the greatest traders and investors .. referred to his rules on a frequent basis, and I suggest you do the same. Here are his rules with commentary from MarketWatch’s Jonathan Burton.

Markets tend to return to the mean over time


By "return to the mean," Farrell means that when stocks go too far in one direction, they come back. If that sounds elementary, then remember that both euphoric and pessimistic markets can cloud people's heads.

"It's so easy to get caught up in the heat of the moment and not have perspective," says Bob Doll, global chief investment officer for equities at money manager BlackRock Inc. "Those that have a plan and stick to it tend to be more successful."

Excesses in one direction will lead to an opposite excess in the other direction

Think of the market as a constant dieter who struggles to stay within a desired weight range but can't always hit the mark.

"In the 1990s when we were advancing by 20% per year, we were heading for disappointment," says Sam Stovall, chief investment strategist at Standard & Poor's Inc. "Sooner or later, you pay it back."

There are no new eras -- excesses are never permanent

This harkens to the first two rules. Many investors try to find the latest hot sector, and soon a fever builds that "this time it's different." Of course, it never really is. When that sector cools, individual shareholders are usually among the last to know and are forced to sell at lower prices.

"It's so hard to switch and time the changes from one sector to another," says John Buckingham, editor of The Prudent Speculator newsletter. "Find a strategy that you believe in and stay put."

Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways

This is Farrell's way of saying that a popular sector can stay hot for a long while, but will fall hard when a correction comes. Chinese stocks not long ago were market darlings posting parabolic gains, but investors who came late to this party have been sorry.

The public buys the most at the top and the least at the bottom Sure, and if they didn't, contrarian-minded investors would have nothing to crow about. Accordingly, many market technicians use sentiment indicators to gauge investor pessimism or optimism, then recommend that investors head in the opposite direction.

Fear and greed are stronger than long-term resolve

Investors can be their own worst enemy, particularly when emotions take hold. Stock market gains "make us exuberant; they enhance well-being and promote optimism," says Meir Statman, a finance professor at Santa Clara University in California who studies investor behavior. "Losses bring sadness, disgust, fear, regret. Fear increases the sense of risk and some react by shunning stocks."

After grim trading days, it's easy to think you're the patsy at this card table. To counter those insecure feelings, practice self-control and keep long-range portfolio goals in perspective. That will help you to be proactive instead of reactive.

"It's critical for investors to understand how they're cut," says the Prudent Speculator's Buckingham. "If you can't handle a 15% or 20% downturn, you need to rethink how you invest."

Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names

Markets and individual sectors can move in powerful waves that take all boats up or down in their wake. There's strength in numbers, and such broad momentum is hard to stop, Farrell observes. In these conditions you either lead, follow or get out of the way.

When momentum channels into a small number of stocks, it means that many worthy companies are being overlooked and investors essentially are crowding one side of the boat. That's what happened with the "Nifty 50" stocks of the early 1970s, when much of the U.S. market's gains came from the 50 biggest companies on the New York Stock Exchange. As their price-to-earnings ratios climbed to unsustainable levels, these "one-decision" stocks eventually sunk.

Bear markets have three stages -- sharp down, reflexive rebound and a drawn-out fundamental downtrend

When all the experts and forecasts agree -- something else is going to happen As Stovall, the S&P investment strategist, puts it: "If everybody's optimistic, who is left to buy? If everybody's pessimistic, who's left to sell?"

Going against the herd as Farrell repeatedly suggests can be very profitable, especially for patient buyers who raise cash from frothy markets and reinvest it when sentiment is darkest.

Bull markets are more fun than bear markets

No Kidding
  Forum: Investment Discussion

nipper
Posted on: Dec 3 2019, 11:37 AM


Group: Member
Posts: 6,429

Secondary offer likely in late Feb, new shares at approx NAV at the time, with a 'loyalty bonus' for shareholders, dependant on amount raised.

They seem to be pulling out all stops to make sure trading doesn't see a dump after issuing new shares.
QUOTE
Pengana is firmly focussed on aiming to have a continuing positive experience for our Unitholders. It is therefore our intention that all Units available under both the Placement as well as the Shortfall Offer will be allocated only to investors who are more likely to invest in PE1 over the long term, comprising mostly of clients of high-quality financial advisors as well as to existing investors and shareholders across the Pengana business.

We have no intention to offer the new Units to the general market i.e. there will be no general public offer.
  Forum: By Share Code

nipper
Posted on: Dec 3 2019, 09:41 AM


Group: Member
Posts: 6,429

All too hard

(You beat me to it)
  Forum: Off Topic Chat

nipper
Posted on: Dec 3 2019, 09:38 AM


Group: Member
Posts: 6,429

QUOTE
Preliminary Sales Forecast $50-$70 million

The FY 2020 Sales Forecast is made up of:
- Phoslock® sales of 10,000-20,000 tonnes;
- Engineering & maintenance work in $10-20 million range;
- Phoslock® production capacity expanded to 40,000 tonnes annually by mid-2020.

By doubling factory capacity, PET will have significant additional tonnes of Phoslock® available for sale to meet additional anticipated demand from existing and new projects not included in the Sales Forecast range.

PET is currently on track to meet its FY2019 sales forecast of $27-30 million. However, the final numbers will depend on the status of major projects at year-end. For example, extreme weather could affect applications.

SP up slightly @ 90c
  Forum: By Share Code

nipper
Posted on: Dec 3 2019, 09:04 AM


Group: Member
Posts: 6,429

- I've always thought this was the case ...observing peoples' behaviour, it has got to be true

Rosy Outlook for Select Retailers
QUOTE
The wealth effect and a much brighter economic outlook are shaping up to push consumers to resume historic levels of spending at retailers, and the type of companies most set to benefit from the shopper rush are travel, ­online department stores, hardware and convenience stores.

The latest research from UBS, drawing on fresh data from a survey of 1000 consumers for its Evidence Lab, points to an improving retail outlook, bolstered by rising residential property prices and a greater willingness for consumers to spend money.

There was an uplift in the outlook for wealth against the UBS consumer survey conducted just before the federal election in May, with consumers also more positive about the future growth of wages.

Meanwhile, environmental, social and governance factors are becoming increasingly topical when it comes to both consumer preferences and investing, UBS found, but this was split along generational fault lines.


The survey found that one cohort was not willing to pay much extra for ESG outcomes while ­another — generally younger — would pay more than double for ESG outcomes, particularly when it came to buying renewable ­energy and sustainably sourced consumer products.

But the rising tide of the wealth effect is not expected to lift all boats, and UBS analysts Ben Gilbert and Pieter Stoltz have fixed on a portfolio of key retail stocks that should be rewarded by a return of shoppers to the stores.

“Overall, results were positive for the broader consumer outlook, particularly home improvement and fast food,’’ Mr Gilbert said in the latest UBS deep dive into the minds of consumers and sent to clients on Monday night.

“Travel intentions softened a touch, but key brands Flight Centre and Webjet are winning share,” Mr Gilbert said. “Flight Centre and Webjet customer spend intentions increased significantly versus the May 2019 study, suggesting share growth, with the market outlook to improve as household wealth rises.”

Price and convenience were still key for drivers looking for a petrol station and snack, and with well-located fuel sites, Viva ­Energy was on the UBS stock list. “Viva Energy, superior sites (location) and improved pricing reinforces our view on the volume opportunity, not priced in.”

Households are feeling wealthier, UBS found, with 29 per cent of respondents net positive on their 12-month forward ­finance outlook against only about 8 per cent in the May survey. Despite near-record low housing turnover, about 15 per cent of respondents said they spent more on DIY projects year-on-year, with about 50 per cent saying they are intending to undertake a home improvement project in the next six months.

“This suggests limited impact from weaker housing activity: positive for Wesfarmers (which owns Bunnings) and to a lesser extent Metcash (Mitre 10).”

But not all retailers are expected to gain. The shift towards convenience through such things as food delivery and meal kits continues at the expense of cooking at home. Aggregator food and restaurant websites are driving the growth, with potential risk to Domino’s Pizza if it is unable to hold share, UBS warned.

A retailer’s ESG credentials are growing in importance for consumers. The same attitude was evident in choosing ­investment products.

“Consumers revealed they were more willing to pay for sustainably sourced goods than for renewable energy, given 30 per cent said they would pay double for sustainable sourced goods and 20 per cent said they would pay double for renewable energy.

“When it came to ESG investments, consumers often said they would be willing to give up 5 per cent or even 10 per cent of their retirement savings in order to ­invest in an ESG aware option but the majority were not willing to give up more than 1 per cent.’’
  Forum: By Share Code

nipper
Posted on: Dec 2 2019, 09:38 AM


Group: Member
Posts: 6,429

and here comes the Pause, setting up for the Capital Raise.
  Forum: By Share Code

nipper
Posted on: Dec 2 2019, 09:32 AM


Group: Member
Posts: 6,429

after running from $3.30 at start of year to $8.40 by July, AD8 tracked sideways for a few months finding it hard to break through $8.00 again.

Since 22/11, it has cleared that resistance and is now $9.20+
  Forum: By Share Code

nipper
Posted on: Dec 2 2019, 09:13 AM


Group: Member
Posts: 6,429

the scary thing about all this posturing - MMT and the like - is that it is being positioned as left v right, old v new, or old v young . And therefore it is fresh n better. Nothing is further from the truth.

and I think there is a difference between "Public Service" and public servants. Oxymoronic, almost.
  Forum: Off Topic Chat

nipper
Posted on: Dec 2 2019, 08:47 AM


Group: Member
Posts: 6,429

sounds like a poor investment .... of time
  Forum: By Share Code

nipper
Posted on: Dec 1 2019, 03:58 PM


Group: Member
Posts: 6,429

Smart Solar; still pretty dumb?

https://mobile.abc.net.au/news/2019-12-01/r...y-grid/11731452
  Forum: Macro Factors

nipper
Posted on: Dec 1 2019, 08:39 AM


Group: Member
Posts: 6,429

Thanks for these. John Mauldin has just posted a few:
....

"Several different versions of Dennis Gartman’s rules are floating around the internet. This one is my favorite. Note that Dennis is first and foremost a trader, so these are rules for traders but also offer insight to investors".

QUOTE
1. NEVER, EVER, EVER ADD TO A LOSING POSITION: EVER!:
Adding to a losing position eventually leads to ruin, remembering Enron, Long Term Capital Management, Nick Leeson and myriad others.

2. TRADE LIKE A MERCENARY SOLDIER:
As traders/investors we are to fight on the winning side of the trade, not on the side of the trade we may believe to be economically correct. We are pragmatists first, foremost and always.

3. MENTAL CAPITAL TRUMPS REAL CAPITAL:
Capital comes in two forms... mental and real... and defending losing positions diminishes one’s finite and measurable real capital and one’s infinite and immeasurable mental capital accordingly and always.

4. WE ARE NOT IN THE BUSINESS OF BUYING LOW AND SELLING HIGH:
We are in the business of buying high and selling higher, or of selling low and buying lower. Strength begets strength; weakness more weakness.

5. IN BULL MARKETS ONE MUST TRY ALWAYS TO BE LONG OR NEUTRAL:
The corollary, obviously, is that in bear markets one must try always to be short or neutral. There are exceptions, but they are very, very rare.

6. "MARKETS CAN REMAIN ILLOGICAL FAR LONGER THAN YOU OR I CAN REMAIN SOLVENT":
So said Lord Keynes many years ago and he was... and is... right, for illogic does often reign, despite what the academics would have us believe.

7. BUY THAT WHICH SHOWS THE GREATEST STRENGTH; SELL THAT WHICH SHOWS THE GREATEST WEAKNESS:
Metaphorically, the wettest paper sacks break most easily and the strongest winds carry ships the farthest, fastest.

8. THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN:
Be bullish... or bearish... only when the technicals and the fundamentals, as you understand them, run in tandem.

8. TRADING RUNS IN CYCLES; SOME GOOD, MOST BAD:
In the “Good Times” even one’s errors are profitable; in the inevitable “Bad Times” even the most well researched trade shall go awry. This is the nature of trading; accept it and move on.

9. KEEP YOUR SYSTEMS SIMPLE:
Complication breeds confusion; simplicity breeds elegance and profitability.

10. UNDERSTANDING MASS PSYCHOLOGY IS ALMOST ALWAYS MORE IMPORTANT THAN UNDERSTANDING ECONOMICS:
Or more simply put, "When they’re cryin’ you should be buyin’ and when they’re yellin’ you should be sellin’!"

11. REMEMBER, THERE IS NEVER JUST ONE COCKROACH:
The lesson of bad news is that more shall follow... usually hard upon and always with worsening impact.

12. BE PATIENT WITH WINNING TRADES; BE ENORMOUSLY IMPATIENT WITH LOSERS:
Need we really say more?

13. DO MORE OF THAT WHICH IS WORKING AND LESS OF THAT WHICH IS NOT:
This works well in life as well as trading. If there is a “secret” to trading... and to life... this is it.

14. CLEAN UP AFTER YOURSELF:
Need we really say more? Errors only get worse.

15. SOMEONE’S ALWAYS GOT A BIGGER JUNK YARD DOG:
No matter how much “work” we do on a trade, someone knows more and is more prepared than are we... and has more capital!

16. PAY ATTENTION:
The market sends signals more often than not missed and/or disregarded... so pay attention!

17. WHEN THE FACTS CHANGE, CHANGE!
Lord Keynes... again... once said that “ When the facts change, I change; what do you do, Sir?” When the technicals or the fundamentals of a position change, change your position, or at least reduced your exposure and perhaps exit entirely.

18. ALL RULES ARE MEANT TO BE BROKEN:
But they are to be broken only rarely and true genius comes with knowing when, where and why!
  Forum: Investment Discussion

nipper
Posted on: Nov 30 2019, 08:47 PM


Group: Member
Posts: 6,429

QUOTE
...rather than repairing skin related defects, the Company’s CelGro technology repairs soft tissue such as Anterior Curcial Ligament (ACL), rotator cuff and other tendon injuries.

More significant, in my view, is the application of CelGro to repair damaged nerves, particularly in the application of paralysed muscles. Think paraplegics and quadriplegics
.
still got the phase 3 and FDA pathway issues. Big market, though.
  Forum: By Share Code

nipper
Posted on: Nov 30 2019, 08:36 PM


Group: Member
Posts: 6,429

The AGM presentation has 30+ slides on the understanding of Thursday's Gossan; starting out looking for deep porphyry mineralisation and a gradual dawning "it's different".
QUOTE
1. Stavely has demonstrated that there are multiple porphyry phases at Thursday’s Gossan
2. Hosts structurally-controlled high-grade lode-style copper-gold-silver mineralisation similar to Magma, Arizona and Butte, Montana
3. Intercepts in 3 structures from 62m to almost 1,000m drill depth – very ‘tall’ system
4. Lots of ‘room to move’ – early days despite 40-year exploration history
5. Likely to be driven by a late stage porphyry yet to be seen – it’s still out there

the good stuff is deep. And that's expensive
  Forum: By Share Code

nipper
Posted on: Nov 30 2019, 08:11 PM


Group: Member
Posts: 6,429

That's what he's saying.

Though at 60c day traders are all over it. Would have been better with 100,000 at 20c
  Forum: By Share Code

nipper
Posted on: Nov 30 2019, 03:55 PM


Group: Member
Posts: 6,429

Broker overview
https://www.sharecafe.com.au/2019/11/25/may...specialisation/

Mayne Pharma ((MYX)) aims to transition away from its generics business, which is under increasing pressure, outlining at the company’s AGM aspirations for more than 60% of FY24 revenue to be generated by US specialty products.

This rebalancing will be led by the commercialisation of the licensing deal with Mithra, ramp up of new specialty products and optimising the women’s health portfolio... .
  Forum: By Share Code

nipper
Posted on: Nov 30 2019, 03:46 PM


Group: Member
Posts: 6,429

Saw an ad for MedAdvisor on prime time TV. They might be beginning to get traction.

And sadly, I can think of quite a few acquaintances that could use the app
https://www.medadvisor.com.au/Home/Features
  Forum: By Share Code

nipper
Posted on: Nov 30 2019, 03:38 PM


Group: Member
Posts: 6,429

QUOTE
iSelect (ISU) 55c

Having churned through four CEOs since listing in 2013 and with a history of missing earnings guidance, the consumer comparison site does not exactly compare well itself as an investment.

But management is making more with less, with full-year earnings rebounding 64 percent to $11.1 million, despite revenue declining 16 percent to $150.7m. However a “small ebit loss” is forecast for the current half.

The decline in turnover resulted from management shedding unprofitable lines. A venture to distribute via shopping centre kiosks has also been abandoned.

Originally a health insurance comparison site, iSelect expanded into energy, telco and insurance plans and a home loans alliance with Australian Financial Group.

While consumers will go to comparison sites to compare anything from power bills to air fares, the sector is crowded and commissions are under pressure.

A point of intrigue with iSelect are the intentions of rival Compare the Market, which accounts for 22 per of the iSelect register via a related entity.

iSelect is being taken to court by the Australian Competition and Consumer Commission, which alleges the company’s energy plan comparisons were skewed by the commissions paid by the energy retailers.
- never understood the biz
  Forum: By Share Code

nipper
Posted on: Nov 30 2019, 09:03 AM


Group: Member
Posts: 6,429

Deserves its own thread
Orthocell – The Next Big Winner In The Regenerative Sector

https://www.sharecafe.com.au/2019/11/29/ort...erative-sector/
  Forum: By Share Code

nipper
Posted on: Nov 30 2019, 07:03 AM


Group: Member
Posts: 6,429

.3D Printing Is A Manufacturing Game-Changer....
https://www.sharecafe.com.au/2019/11/27/3d-...g-game-changer/

- lots of companies mentioned here; none on ASX
  Forum: By Share Code

nipper
Posted on: Nov 29 2019, 04:33 PM


Group: Member
Posts: 6,429

Happy to counterclaim for IP and the like .... thinking infrastructure, cars, mobile phones; why there's a lot of material things.
  Forum: Off Topic Chat

nipper
Posted on: Nov 29 2019, 04:03 PM


Group: Member
Posts: 6,429

unless this ZIP had a $60mill raise, I think you'll find it is Z1P capital raise
  Forum: By Share Code

nipper
Posted on: Nov 29 2019, 04:02 PM


Group: Member
Posts: 6,429

QUOTE
Zip Co Limited is pleased to announce a proposed $60.0m capital raising

• $50.0m non-underwritten Placement to professional and sophisticated investors Capital Raising
• Zip is also seeking to raise $10.0m in a Share Purchase Plan to all existing eligible shareholders
The Offer Price of $3.70 per share represents a:
• 5.6% discount to the last close of $3.92 on 28 November 2019
• 4.7% discount to the 10-day VWAP of $3.88

Funds raised under the Placement and SPP will used to :
• Fund Zip’s global expansion into the UK market
• Expand Zip’s product range, including the launch of Zip Biz
• Increase investment in product and technology
• Strengthen Zip’s balance sheet
  Forum: By Share Code

nipper
Posted on: Nov 29 2019, 11:09 AM


Group: Member
Posts: 6,429

QUOTE
".... We are seeing a continual increase in demand for brownfield drilling services relating to most commodities and spanning across most
geographies. We are also seeing early signs of more favourable contract terms and conditions including pricing.”
Nathan Mitchell, Chairman, Mitchell Services Drilling Ltd
  Forum: By Share Code

nipper
Posted on: Nov 29 2019, 09:42 AM


Group: Member
Posts: 6,429

QUOTE
"We are encouraged by order intake levels, which have been progressively increasing over the past four months. If this trend continues, the current downturn is likely to be the shortest I have experienced in the past 30 years.”
Lindsay Partridge, CEO, Brickworks Ltd

“In Australia the combination of the residential market returning to growth from FY21, and increasing levels of infrastructure spend, have resulted in forecasters predicting a relatively strong outlook in the medium term.”
Ross Taylor, CEO, Fletcher Building Ltd

“Home loan activity rebounded strongly in the first quarter of FY20, with interest rate cuts and an active property market driving record mortgage volume.”
David Bailey, CEO, Australian Finance Group
  Forum: By Share Code

nipper
Posted on: Nov 29 2019, 09:29 AM


Group: Member
Posts: 6,429

QUOTE
If it hadn’t been for index heavyweights such as CSL, Macquarie Group, Transurban and Goodman, it would have been near impossible for the ASX 200 to reach for a new all-time high in 2019. Yet, the sad fact remains most investors don’t own shares in CSL, though some may have owned shares at some point throughout those 25 years.

The usual explanations heard are “too expensive” and “cannot get my head around it”. This goes both for the self-managing retail crowd as for professional fund managers. The logical observation to make here is that everybody who bought shares in CSL, no matter when or at what price, is today sitting on a profit.

With the shares trading on a FX-adjusted, forward-looking estimate of about 37 times FY20 earnings per share, it will nearly always be too “expensive” for typical value-seekers, while the implied 1.2 per cent dividend yield is too low for the income-hungry.

Maybe, without owning shares in the company, there are some valuable lessons to be learned from CSL for investors of all kinds and various levels of experience.

In 2019, all three major external factors have ultimately aligned to push CSL shares to a new all-time high. This is not necessarily always the case. When bond yields rise strongly in a short time, as they did in late 2016, CSL stock temporarily faces a formidable headwind.

When the dollar strengthens against foreign currencies, this also tends to create a headache, and similar underperformance follows when investors temporarily favour cheaper-looking, beaten-down cyclicals like they did when the GFC bear market ended in 2009-2010.

Another complicating matter is the fact that CSL is now the number three index component in Australia, which makes the stock more susceptible to general market sentiment. Whereas in the past the shares were at times able to not necessarily follow general market sentiment down, such idiosyncratic behaviour is a lot more difficult when large sell orders aiming to replicate the index hit the local market.

Most importantly, however, is that 25 years from the past show that whatever external factor is holding back the stock at any given point, as long as the business continues to perform, its shares will ultimately perform, too. As such, every period of weakness or stagnation in the share price ultimately proved a profitable entry point.

This takes us to the operational reliability that has become one of the trademark characteristics of CSL. How come most businesses cannot replicate the solidity and sustainability of CSL? Never a profit warning. Seldom an operational disappointment. This company, throughout various managers, has an almost alien-like track record in a sharemarket that regularly shocks through corporate failures and mishaps.

The answer is two-fold.

● First, CSL has managed to transform itself into the highest-quality benchmark for the plasma industry globally. It operates collection centres more efficiently than anyone else, which means it can open additional centres quicker and earn its investments back in a shorter time.

● Second, in line with general industry practice, CSL invests about 10 per cent of annual revenues back into its business to expand through new centres and to constantly develop new products. It has a rich history for discovering and developing new therapies and medical solutions, which is necessary in the fast-moving and ever-evolving biotech-medical world...
FN Arena
  Forum: By Share Code

nipper
Posted on: Nov 29 2019, 09:13 AM


Group: Member
Posts: 6,429

Westpac is in a pickle
QUOTE
the .... complex, divisive and sometimes fraught relationship between the market and proxy firms.

Depending on who you talk to, and the specific circumstances around an individual company, proxy advisers can be portrayed as all-knowing or completely detached from commercial logic, deeply influential or largely irrelevant, activist pests or righteous crusaders.

In recent years, directors have regularly warned against their growing power – but funnily enough, these warnings almost always seem to come from companies where there is some of governance controversy or an underperformance issue.
  Forum: Off Topic Chat

nipper
Posted on: Nov 28 2019, 05:39 PM


Group: Member
Posts: 6,429

QUOTE
...ended the quarter with cash of $454,388 prior to the equity placement of $6,768,444 (before costs), post quarter end on 10 October 2019. On 18 September the business received further funds from the Australian Governmentunder the Australian R&D incentive scheme. The business is well funded to progress its commercial and clinical milestones.

Operational Highlights
We continue to receive good results from our manufacturing in preparation for pending human clinical studies. During the quarter we received a positive response from the US Food and Drug Administration relating to a five-fold increase in scaled manufacture of RECCE 327® and drug quality following submission of a Chemistry, Manufacturing and Controls (CMC) data pack as part of the investigational drug application process.

A leading international clinical trial logistics group was contracted to handle dispatch and delivery of RECCE® 327 globally, according to FDA requirements.

International Interest Growing – The Company was invited to give the opening R&D address at the World Antimicrobial Resistance Congress in the US on 7 November
  Forum: By Share Code

nipper
Posted on: Nov 28 2019, 03:21 PM


Group: Member
Posts: 6,429

ALK looking more like a gold n Cu play, than rare earths, these days.
  Forum: By Share Code

nipper
Posted on: Nov 28 2019, 12:45 PM


Group: Member
Posts: 6,429

after visiting my friends at Alligator Creek, some 30km SE of Townsville, there was some lingering resentment as to how city boundaries were expanded, and the City Council now runs the hinterland (and incidentally how Townsville's population is now 193,000 whereas before amalgamation with was sub 100K). This expansion includes Woodstock on the other side of Bowling Green NP. Locals were seething/ suspicious/ paying rates and wondering where the services were.

everyone wants sleepy and quiet. Stasis is not a feasible reality.
  Forum: By Share Code

nipper
Posted on: Nov 28 2019, 11:49 AM


Group: Member
Posts: 6,429

insto placement and rights issue 1 for 8 at $0.55 to raise $54mill.

Tomingley - a new decline, + utilisation of mill to boost gold production and increase cashflow
Boda - step-out drilling
  Forum: By Share Code

nipper
Posted on: Nov 28 2019, 10:46 AM


Group: Member
Posts: 6,429

Kahuna has run with the outrage for a while, and the numbers seem to be getting worse:

Deaths of despair': Americans dying younger than other wealthy places.

http://www.smh.com.au/world/deaths-of-desp...53ejc.html?btis

QUOTE
The engine that powers the world's most potent economy is dying at a worrisome pace, a "distinctly American phenomenon" with no easily discernible cause or simple solution.

Those are some conclusions from a comprehensive new study by researchers at Virginia Commonwealth University showing that mortality rates for US adults ages 25-64 continue to increase, driving down the general population's life expectancy for at least three consecutive years.

The report, Life Expectancy and Mortality Rates in the United States, 1959-2017, was published in the Journal of the American Medical Association. It paints a bleak picture of a workforce plagued by drug overdoses, suicides and organ-system diseases while grappling with economic stresses.

"This looks like an excellent paper - just what we needed to help unravel the overall decline in life expectancy in the US," said Eileen Crimmins, an associate dean at the University of Southern California who's an expert on the link between health and socioeconomic factors.

In a trend that cuts across racial and ethnic boundaries, the US has the worst midlife mortality rate among 17 high-income countries despite leading the world in per-capita spending on healthcare.

And while life expectancy in those other industrialised nations continues to inch up, it has been going in the opposite direction in America, decreasing from a peak of 78.9 years in 2014 to 78.6 in 2017, the last year covered by the report.

By comparison, according to the Peterson-Kaiser Health System Tracker, the average longevity in similar countries is 82.2 years. Japan's is 84.1, Australia's 82.5, France's 82.4, Canada's 81.9 and Britain's 80.9. They left the US behind in the 1980s and increased the distance as the rate of progress in this country diminished and eventually halted in 2011

- between 1999 and 2017, midlife mortality from drug overdoses spiked by 386.5%
- in same period and cohort, deaths from hypertensive diseases increased 78%, and linked to obesity, up 114%
- suicides rose by 38%
  Forum: Investment Discussion

nipper
Posted on: Nov 28 2019, 08:52 AM


Group: Member
Posts: 6,429

...and now TLG is sending out a postcard, to eligible shareholders, reminding them the SPP closes on 06 Dec. Trouble getting money in the door?
  Forum: By Share Code

nipper
Posted on: Nov 28 2019, 08:44 AM


Group: Member
Posts: 6,429

QUOTE
...experienced, good tactician, knows present players in all form of the game, totally fair and unbiased.
... won't last, then?
  Forum: Off Topic Chat

nipper
Posted on: Nov 28 2019, 08:28 AM


Group: Member
Posts: 6,429

I think this is the same fund
QUOTE
Watermark-managed Australian Leaders Fund appears to have threatened to pull a proposed buyback if shareholders vote against the re-election of the board. The LIC will hold its annual meeting on Friday when chairman Justin Braitling and director John Abernethy are up for re-election.

After incurring a strike in 2018, Australian Leaders, also known as ALF, faces the risk of a second strike this week. If more than 25 per cent of shareholder votes are cast against the remuneration report, the board will face a spill motion. Mr Braitling, Mr Abernethy, Julian Gosse and Wilson Asset Management's Geoff Wilson are all directors.

Shareholders will also vote on whether to approve an estimated $45 million buyback, or up to 20 per cent of the LIC's capital.

However, an explanatory section attached to the notice of meeting cautioned that any changes to the board "will likely determine whether the buy back proceeds. There is no guarantee that that the buy back will proceed if the composition of the board changes."

The LIC sent a letter to shareholders late last week, which was seen by The Australian Financial Review, and again linked the prospects of a share buyback to the re-election of board members.

-- looks like the hotshots couldn't make it work. Might have established a name with unlisted fund and small amount of FUM. Then set up a LIC with broad / eclectic mandate.
- trading around $1, with latest NTA at $1.19.
- Withdrew from international equities.
- But managed to underperform by 17% in year to Sept.
  Forum: By Share Code

nipper
Posted on: Nov 28 2019, 08:15 AM


Group: Member
Posts: 6,429

Foolish x2 post
  Forum: By Share Code

nipper
Posted on: Nov 28 2019, 08:15 AM


Group: Member
Posts: 6,429

QUOTE
Given that TLS shares are up 2.71% today at $3.71 a share (at the time of writing), it’s clear the market is responding well to the ASX’s largest telco.

Telstra shares had a phenomenal run over most of 2019 – rising from $2.77 in January to over $4 by August. However, this momentum seemed to stall shortly afterwards, and Telstra shares have been trending lower ever since, hitting $3.40 by September and hovering around the $3.50–3.60 range until this week.

The source of this goodwill was an investor day presentation the company hosted this morning. In this presentation, Telstra reaffirmed its FY20 earnings guidance, in which it expects to see its underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) increase by $500 million. This number excludes the ongoing impact of the NBN, which has been wreaking havoc on Telstra’s books for years now.

It appears that Telstra’s T22 cost cutting strategy, which was announced a few years ago, has been making significant progress and is on track for cumulative savings of around $2.5 billion by FY22.

What about Telstra’s dividend?
More importantly for shareholders, Telstra also reaffirmed that it expects free cash flow to come in between $3.3 billion and $3.8 billion for FY20. Whilst Telstra did not provide any guidance for its 2020 dividends today, we can look back and see the company’s FY19 dividends amounted to a cost of $2.259 billion. This indicates to me there is more than enough free cash flow to sustainably cover a continuation of Telstra’s current 16 cents per share payout going forward.

That will be good news for long-term shareholders who have endured big cuts to their TLS dividend payments in recent years.

Foolish takeaway
Nothing is certain in investing, but from where I’m looking, Telstra’s dividend payments look very sustainable at their current levels. Unless a major shock or black swan event hits Telstra down the road, I can see a path back to growth for the Telstra dividend going forward looking at today’s numbers.

Motley Fool
  Forum: By Share Code

nipper
Posted on: Nov 27 2019, 05:49 PM


Group: Member
Posts: 6,429

rough calculation (formula = 5 day volume weighted average price less 2%) suggests that WBC SPP (up to $30k, closing next Monday 02/12) will be priced ~$24.75.

With the CEO and 2 directors soon out the door, despite AUSTRAC, is this price a buy opportunity?

  Forum: By Share Code

nipper
Posted on: Nov 27 2019, 02:13 PM


Group: Member
Posts: 6,429

QUOTE
[Catalyst's] share placement will strengthen the Company’s working capital position and enable it to continue to move forward with its advanced projects at the Four Eagles Gold Project and Tandarra
Gold Project .... [+ other exploration work].

it was Gina Hancock's company that put money into Catalyst's placement; together they have the Four Eagles lease.

And Catalyst CYL has 51% of Tandarra with NML holding the rest. Now both companies have some cash to advance their Tandarra plans, amongst several projects?
  Forum: By Share Code

nipper
Posted on: Nov 27 2019, 11:17 AM


Group: Member
Posts: 6,429

And above $280

....if the banks tank, it could eclipse CBA and be largest ASX biz in terms of M/C !
  Forum: By Share Code

nipper
Posted on: Nov 27 2019, 09:58 AM


Group: Member
Posts: 6,429

QUOTE
.... ASIC is conducting a preliminary investigation by way of a Search Warrant, in relation to the trading of certain securities...


🕶️🕵️⚖️
  Forum: By Share Code

nipper
Posted on: Nov 27 2019, 08:42 AM


Group: Member
Posts: 6,429

raising some capital; taking on a new Core Manager (now #6):
QUOTE
....1 new share for every 8 existing shares held on the record date. (last week)

Due to the strong performance of HM1 since listing just over a year ago, this offer price of $2.50 per New Share represents a discount of 20% to HM1’s closing price of $3.13 on 22 November 2019, a 19% discount to our most recently announced Post Current Tax NTA of $3.09 per share and a 18% discount to TERP of $3.06.

The Entitlement Offer is renounceable. Accordingly, if you do not wish to take up your Entitlement, you may sell all or part of your Entitlement on ASX between Friday 29 November 2019 and Monday 9 December 2019 (inclusive) or sell or transfer all or part of your Entitlement directly to another person.

Overview
The net proceeds raised from the Entitlement Offer will be used by HM1 to allocate funds to our new Core Fund Manager, TDM Growth Partners. As with our other Core Fund Managers, the allocation will be invested in the three highest conviction investment ideas of TDM.
  Forum: By Share Code

nipper
Posted on: Nov 26 2019, 09:28 AM


Group: Member
Posts: 6,429

Clear the decks

Chief financial officer Peter King will be acting CEO

Longstanding chairman Lindsay Maxsted will bring forward his retirement to early 2020.


Is yr powder dry, eb?
  Forum: By Share Code

nipper
Posted on: Nov 26 2019, 09:19 AM


Group: Member
Posts: 6,429

QUOTE
CEO Brian Hartzer will pocket fixed pay of $2.7 million, but will forgo a much larger amount of up to $22m in short-term and long-term bonuses as a result of the explosive Austrac legal action. The bank announced Mr Hartzer would step down as CEO on December 2 and be paid out his 12 month notice period.

He has fallen on his sword given the financial crimes agency, Austrac, lodged damaging action against the bank last week alleging it breached the law 23 million times and helped facilitate child exploitation.

“Both Mr Hartzer’s unvested deferred short-term variable reward and unvested long-term variable reward will be forfeited,” Westpac’s statement to the ASX said. “In addition to forgoing his FY19 short-term variable reward, Mr Hartzer will also not be eligible for short-term variable reward in FY20 or FY21.”
  Forum: By Share Code

nipper
Posted on: Nov 26 2019, 07:30 AM


Group: Member
Posts: 6,429

Into VA.... Couldn't get the money. Last post talked about getting the capital some 7 years ago? (assuming its the same crowd).

Gold's still in the ground, just that there's probably not enough of it?

https://www.australianmining.com.au/news/mi...administration/
  Forum: By Share Code

nipper
Posted on: Nov 25 2019, 09:13 PM


Group: Member
Posts: 6,429

QUOTE
Nufarm has shed more than $400 million in value after declaring an earnings downgrade on rebate issues in Germany and severe trading conditions in North America. The latter will cost the company $20 million in earnings before interest, tax, depreciation and amortisation (EBITDA), and the company blamed it on lower demand and high inventories.

"Trading conditions have been difficult for [the 2020 financial year] to date," a statement to the ASX said. "And this has resulted in lower earnings in all regions for the first quarter compared to the prior year."

Investors were hardly understanding, sending Nufarm's share price tumbling down almost 18 per cent to $5.07 in early afternoon trading on Monday,
. - seasonal fluctuations?!?!?
  Forum: By Share Code

nipper
Posted on: Nov 25 2019, 09:04 PM


Group: Member
Posts: 6,429

QUOTE
There are [good] reasons for the enthusiasm that investors have shown for Caltex’s plan to float a property trust filled with 250 of its prime petrol stations, which could pump as much as $850 million into its coffers. Caltex shares jumped 6.7 per cent to $29.71, and are now up 44 per cent since late June.

Firstly, there’s excitement at the guts of this deal. It cleverly allows Caltex, which trades at about eight times earnings before interest, tax, depreciation and amortisation (EBITDA), to re-rate a portion of its business to about 20 times EBITDA, where property trusts trade.

This multiple arbitrage delivered good results for Telstra earlier this year, which spun off property and infrastructure into a separate vehicle, in a deal also managed by Caltex’s banker, UBS.

The Caltex property trust will generate annual rents of $80 million to $100 million, which values the trust’s assets at about $1.7 billion, before gearing. Caltex will own 51 per cent of the properties, to ensure it controls the properties that are central to its operation.....

QUOTE
First and foremost, it takes advantage of multiple arbitrage opportunities, without changing the underlying operations in any way.

"You’ve got an almost insatiable hunt for yield out there in the market and when you couple that with the Caltex reputation … that’s a very attractive proposition," Halliday says.

Second, it allows the market to see, every day, what the property in Caltex is really worth – something that isn't easy to do right now.

And finally, it creates the opportunity for big returns to shareholders. Sounding more like the CFO of BHP than the CFO of Caltex – and that's no bad thing, mind you – Halliday says the company will carefully consider its options under the capital allocation framework, but it is very much aware of what investors want.

"We are very mindful of the very large amount of franking credits that we sit on that are very highly valued by our shareholders."

The team at UBS are confident that the IPO, scheduled for early next year, should do well partly because of what it is (a property trust delivering yield in a world hungry for it) and partly because of what is isn’t (backed by private equity).

Barring a market meltdown, the deal is likely to be snapped up in the coming months.
- Chanticleer AFR
  Forum: By Share Code

nipper
Posted on: Nov 25 2019, 07:44 PM


Group: Member
Posts: 6,429

QUOTE
Cann Group Ltd (ASX: CAN): The cannabis company’s shares are currently the worst performers on the All Ordinaries on Monday afternoon. At one stage they were down by 33% to 49 cents. They have since narrowed this decline slightly, but are still down 27% to 53.5 cents at the time of writing.
Why is the Cann Group share price crashing lower?
Investors appear to be selling Cann Group’s shares today after looking over the production plans it announced last week. Previously, the company was planning to complete the Mildura facility in a single stage development. This would give it a total capacity of 70,000 kgs of cannabis flower at an estimated project cost of $184 million. This was expected to generate annual revenues of approximately $220 million to $280 million

However, in response to weaker than expected demand and an oversupply of cannabis, management intends to split its construction into three stages. It estimates that first stage production will be around 25,000 kgs. And while management hasn’t updated its revenue forecast yet, I suspect the market is anticipating a sharp downgrade. Especially given the abundance of cannabis flower and the limited use that its offtake partner, Aurora Cannabis, has for it at present.
....
It isn’t all doom and gloom in the cannabis industry on Monday. Both AusCann Group Holdings Ltd (ASX: AC8) and Botanix Pharmaceuticals Ltd (ASX: BOT) are up 4.5% following updates this morning.

The AusCann share price is up after appointing TGA-licensed Aspen Pharmacare Australia to provide packaging for its medicinal cannabis pharmaceutical products.

Whereas the Botanix share price is up after following a US DEA announcement. It advised Botanix’s partner Purisys, that its synthetic cannabidiol product is no longer scheduled as a controlled substance. Botanix Executive Chairman, Vince Ippolito, believes this change will make a major difference to the speed of developing its products and greatly reduces the risks and costs of clinical development..

Motley Fool
  Forum: By Share Code

nipper
Posted on: Nov 25 2019, 10:58 AM


Group: Member
Posts: 6,429

ANZ is quietly building a new Banking Platform

https://www.itnews.com.au/news/anz-is-quiet...platform-534394

... Five months into what could be 2 year project.
  Forum: By Share Code

nipper
Posted on: Nov 25 2019, 10:41 AM


Group: Member
Posts: 6,429

QUOTE
I’m not even sure if the title, ‘An Equilibrium of Disequilibrium’ makes any sense. The markets have, in my view, entered an almost somnolent state as we approach the final month of the year.

On the surface all is calm and stable, however, beneath the surface we have a number of unresolved issues which should be keeping us awake. It is in this regard that a recent article by Bill Dudley, former president of the Federal Reserve Bank of New York (2009 to 2018) and vice chairman of the Federal Open Market Committee, really caught my eye.

First of all I have to say that I very much agreed with everything he said. Dudley highlights several points that I have made, as have many others, for some period of time, namely the high levels of U.S corporate and government debt and the prospect that U.S inflation will be higher than the market currently anticipates.

I urge you to read this relatively short article and whilst there isn’t anything that we haven’t previously discussed, I feel he puts it all together rather well.

https://www.bloomberg.com/opinion/articles/...short-term-calm

In the meantime, and notwithstanding the concerns of an uneasy disequilibrium beneath the surface, equity markets are near record highs, with measures of investor complacency (VIX Index) loitering near record lows.

Similarly, some valuation measures-such as the price/sales ratio-are back to the nosebleed levels we saw at the height of the valuation insanity that prevailed in early 2000.

In addition, and I know that I have also said this before, we have a definitive decline in corporate profit margins.

All of this coupled with the inconvenient truth that we have just experienced a third consecutive quarterly decline in S&P 500 earnings per share...
..

It goes without saying that this has not been an earnings driven rally. The driver has obviously been the sharp decline in bond yields[/i].....
Jonathan pain
- I know he's a perma-bear, but he makes sense. But only in a conventional way, and these are unconventional times
  Forum: Investment Discussion

nipper
Posted on: Nov 25 2019, 10:05 AM


Group: Member
Posts: 6,429

My preferred sign-off is : Retired Gentlefolk of Limited Means
  Forum: Off Topic Chat

nipper
Posted on: Nov 24 2019, 08:46 PM


Group: Member
Posts: 6,429

QUOTE
a2 Milk provided solid revenue guidance and margin upgrades at its AGM, thanks to price increases, product launches and benefits from the Synlait Milk contract renegotiation. Improved disclosure addressed a number of market concerns, Macquarie notes. The broker has made only minor forecast adjustments but has lifted its target to $16.20 from $15.70.

Outperform retained
  Forum: By Share Code

nipper
Posted on: Nov 23 2019, 04:13 PM


Group: Member
Posts: 6,429

HM1 is an offshoot from the successful Sohn Hearts and Minds Conference, where investment manager get together in November to pitch their best ideas. The Sohn conference has been running for four years, and attracts a loyal following. As well as the pitches, some of which Blacksheep has listed elsewhere, the conference attracted Luminaries such as Ray Dalio and Howard Marks (who you could be sure had a full agenda elswhere, while in the country).

HM1 is a Listed Investment Company and was IPO'ed a year ago at $2.50 a share. An aspect of the LIC is that administrative work is done pro bono, both the contribution of the ideas and the registry and other back room work. There is a management fee of 1.5%pa based on the NTA, and this flows to medical research institutes; so far $20 million has been gifted. The FUM is now close to $600 million and the one-year return has been 25.6%. Currently the LIC is trading a few cents above its NTA.

The concentrated portfolio, of between 25-35 stocks, can be both Australian and International assets and comprises the best ideas of both 5 (soon to increase to 6) Core and 13 Conference Fund Managers. Approx 65% of investments are based on quarterly recommendations of the Core Managers while the other 35% are securities based on the annual recommendations of the Conference Managers. At present, about 10% is in cash but the LIC expects to be fully invested by end-December.

One of the recommendations doubled the money in a year, most report solid returns in excess of 50% while only one went backwards.

Some of the tips for the coming year (more can be found in individual threads) include
Nickel Mines (NIC)
Mineral Resources (MIN)
PolyNovo (PNV) .. short
  Forum: By Share Code

nipper
Posted on: Nov 23 2019, 03:13 PM


Group: Member
Posts: 6,429

QUOTE
Commodity research house CRU Group forecasts a supply gap of eight million tonnes by 2030 –and that’s in the context of the world producing about 20 million tonnes currently.

Virgo Resources CEO Quinton Hills describes copper as being in the “stasis zone” when little exploration takes place. But at the same time, the copper supply-demand gap means the equivalent of two OIympic Dams are required every year. “A lot of older mines getting too deep and are getting to the end of their lives,” he says.

The Perth based Virgo (proposed ASX code VIR) is relying on these dynamics as it tries to get its modest million IPO away before the yuletide madness descends.

Virgo’s focus is on its copper-ground tenements in the “safe and friendly” mining jurisdictions of Botswana and Namibia. The company’s lead project, its 70 percent owned Hope copper-gold ground in southern Namibia has an official (JORC) resource of 10.2 million tonnes, grading an average 1.9 percent copper with a bonus 0.3 percent gold (copper equivalent of 2.2 percent). Permits are in place to start drilling immediately after listing.

Virgo also has 15,000 square kilometres of tenements in the Kalahari copper belt in Botswana and there’s a bit of ‘nearism’ to this one. That’s because Cupric Canyon recently finalised a $650m funding package for its nearby Khoemacau copper-silver mine, which is a 92 million tonne resource grading 2.1 percent copper.

The ASX-listed Sandfire Resources (SFR, $5.61) owns the Botswana Copper Project, by way of its $167m takeover of MOD Resources. The AIM-listed Metal Tiger has also unearthed a new discovery “on strike and adjacent to” Virgo’s ground.

Virgo is seeking to raise a modest $5.5m at 20c apiece, with a view to listing on December 20. The raising would imbue the company with an overall tight market cap of $10.5m.

If anything, Virgo is a play on the pedigree of management. Virgo chairman Ian Murray is the former head of Gold Road, which has started production of the lustrous metal at its Gruyere mine in WA. CEO Dr. Quinton Hills is the former exploration manager of the now-defunct Discovery Metals, where he can claim credit for discovering the 100 million tonne Boseto Copper Project in Botswana.

Virgo plans aeromagnetic surveys of both the Namibian and Botswanan turf to get a bird’s eye view of the prospectivity. “If a similar (volcanogenic massive sulphide) deposit was in Australia or Sweden it would have been surveyed five to ten years ago,’’ Hills says. He adds that exploration is “hard and risky”, but we all know that don’t we?

https://www.sharecafe.com.au/2019/11/21/is-...-due-for-a-run/
  Forum: By Share Code

nipper
Posted on: Nov 22 2019, 03:49 PM


Group: Member
Posts: 6,429

QUOTE
Metcash shares have dropped more than 10 per cent to a four-month low after 7-Eleven chose not to renew its contract with the wholesale food and beverage supplier when it expires in August.

Metcash on Friday said its annual sales to 7-Eleven total about $800m a year, mostly in lower-margin tobacco products.

“Metcash was unable to reach agreement with 7-Eleven on its supply requirements for the east coast, including delivery routes and scheduling,” the firm said. However, Metcash said it was still in talks to continue to supply 7-Eleven stores in WA.
  Forum: By Share Code

nipper
Posted on: Nov 22 2019, 02:56 PM


Group: Member
Posts: 6,429

You say
QUOTE
if the pilot plant is successful, one would imagine there is a ready market..

and Calix says:
QUOTE
Since 1990, the largest multinational cement companies have reduced their CO2 emissions by 20-25 percent. They have done so by improving energy efficiency and using waste-derived fuels and raw materials, as well as replacing the energy-intensive clinker by other constituents in cement or concrete.

But in order to reach the EU’s emissions reductions targets by 2050, carbon capture technologies need to be applied to the majority of cement plants, and Calix’s technology is uniquely placed to support the industry to achieve these targets in a timely, effective and efficient manner.

Has CXL got the magic ingredient?
  Forum: By Share Code

nipper
Posted on: Nov 22 2019, 10:40 AM


Group: Member
Posts: 6,429

Was reading that the cement/ concrete industries are targets as emissions are high, and hard to limit per unit of output.

Calix has a new kiln, in prototype form and undergoing tests. Emissions are pure CO2, which lends itself to capture. I wonder if this will catch on?
  Forum: By Share Code

nipper
Posted on: Nov 22 2019, 10:27 AM


Group: Member
Posts: 6,429

Yes, they appear to be the gang who couldn't shoot straight. The SPP documentation arrived and, lo and behold, there was no individual Reference Number among the BPay details. I rang up the registry, and eventually received a form populated with correct details.
...but do I want to invest and, if so, how much? Not $30k!
  Forum: By Share Code

nipper
Posted on: Nov 22 2019, 10:22 AM


Group: Member
Posts: 6,429

QUOTE
shares fell under the $25.32 issue price in the recent $2 billion capital raising.

Westpac’s $500 million retail funding raising is now underway

- the SPP, top limit now $30K, can be calculated by a VWAP formula, meaning issue price should probably be less than the insto price.
... But I wonder how many will partake, especially as there are a few costs that will hit the bottom line. Yield looks attractive, if all other challenges are wished away.
  Forum: By Share Code

nipper
Posted on: Nov 21 2019, 08:00 PM


Group: Member
Posts: 6,429

From today's AGM:
QUOTE
.. as a business we must recognise that whilst the overall market for energy storage has increased significantly and continues to grow, the intensity of competition – particularly from Lithium – has intensified. Bloomberg New Energy Finance notes that the volume weighted price of the average Lithium Ion battery pack fell by 85% from 2010-18.

Like it or not, the reality of our market is now that many areas of the energy storage market now use Lithium – and Lithium prices – as their core reference point.

... and therein lies the problem
  Forum: By Share Code

nipper
Posted on: Nov 21 2019, 04:45 PM


Group: Member
Posts: 6,429

QUOTE
One year after the demerger of Coles from Wesfarmers, shareholders in both companies are $16 billion richer, vindicating the conglomerate's decision to spin out the food and liquor retailer into a separately listed company.

Wesfarmers shares have risen 32 per cent since the demerger to $42.45 and Coles shares have risen 25 per cent to $15.61 since it listed on the ASX on November 21 last year..
  Forum: By Share Code

nipper
Posted on: Nov 20 2019, 07:47 PM


Group: Member
Posts: 6,429

You're losing me. Is this climate or weather?

Also, while we're at it; good climate science says it's not linear. Linear is for kids.

This is not a sceptic having a dig; it could be far worse. But I don't know the future.
  Forum: Off Topic Chat

nipper
Posted on: Nov 18 2019, 08:15 PM


Group: Member
Posts: 6,429

While the company says:
QUOTE
Prospa understands small business owners need faster finance solutions,
I'd reckon anyone looking after the hard-earned's would recognise diligence wins out. Convenience is a trap, and a set-up that will deliver little benefit.

And, besides, every FinTech and his loyal canine is trying to operate in the same rather restricted space. Fighting over scraps!
  Forum: By Share Code

nipper
Posted on: Nov 18 2019, 07:52 PM


Group: Member
Posts: 6,429

One view (extreme bull)
QUOTE
...Tesla has just won approval to begin mass production at its new “gigafactory” in Shanghai, where it was allowed to set up as the only global car maker without a local partner. “China obviously wants something that Tesla has. It’s been miraculous how quickly that plant has scaled,” ... talking of the factory, which went up in about six months.

At the same time, Wood argues that Tesla is driving down battery costs with technology that is far superior to that of other auto makers.

The traditional giants of the industry, she says, are scrambling to try and keep up the growth in EV sales while at the same time seeing sales of traditional combustion engine vehicles fall. “It’s going to be a world of hurt,” Wood says of the fate she believes is facing traditional auto makers.

When cars go autonomous, and are networked via artificial intelligence, ARK believes Tesla moves from a maker of electric vehicles – with gross margins somewhere between 25 per cent and 30 per cent – to a software-as-a-service company, where its margins will rise closer to 80 per cent...
https://www.afr.com/chanticleer/lessons-fro...20191115-p53b1q
  Forum: Investment Discussion

nipper
Posted on: Nov 18 2019, 07:40 PM


Group: Member
Posts: 6,429

QUOTE
Prospa was always going to struggle to convince investors that missing its prospectus earnings forecast by 62 per cent is actually good news for the long term.

But the drubbing it received on Monday – its shares tumbled a staggering 27 per cent in early trade to $2.82, well below its June issue price of $3.78 – underscores the market’s low tolerance for surprises, and may also speak to the switch away from growth stocks

...is it irrational to avoid any outfit with cute (wrong) spelling?

They say: "Prospa is Australia’s #1 online lender to small businesses. Unlike traditional lenders, Prospa understands small business owners need faster finance solutions – so you can make decisions quickly and seize opportunities with total confidence."

I say; show me the money

  Forum: By Share Code

nipper
Posted on: Nov 18 2019, 04:50 PM


Group: Member
Posts: 6,429

QUOTE
UBS is selling shares in Ebos Group on behalf of Sybos Holdings worth $NZ338m ($318m). On offer are 9.3 per cent of the company, or 15 million securities, with shares sold at $NZ22.50 each. The company’s shares last traded at $NZ24.97, and the offer is a 9.9 per cent discount to the last close.

Ebos Group describes itself as the largest and most diversified Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products. It is also a leading marketer and distributor of recognised consumer products and animal care brands
  Forum: NZX

nipper
Posted on: Nov 18 2019, 03:54 PM


Group: Member
Posts: 6,429

QUOTE
Listed investment company VGI Partners Global Investments (VGI) will start paying fully franked dividends, stepping up efforts to narrow a discount between its underlying assets and share price, which it has blamed on an equity raising and the launch of a new listed strategy.

The $924 million LIC will start paying fully franked dividends of about 1¢ a share at six-monthly intervals, chairman David Jones told shareholders.

The investment manager has already closed VGI Partners' global strategy* to new investment, meaning it can be accessed only through the LIC.

The LIC will not raise any more capital until at least May 2022. The management has reinvested the performance fees into the LIC's shares.

Mr Jones said the discount to net tangible asset value had been notable since May this year, widening around the time of its equity raising and the offering of VGI's listed Asian strategy. Some investors appeared to have sold out of the global LIC to diversify into the Asian LIC, he noted.
* the unlisted managed fund.

- meantime, VG8 has IPO'd at $2.32 and trading at or above this for the last few days. Punters sensibly jumped in as sweeteners were offered. Some would have done a switch.
  Forum: By Share Code

nipper
Posted on: Nov 18 2019, 03:46 PM


Group: Member
Posts: 6,429

Just went to TLG share registry, nothing there:

https://securitytransfer.com.au/investor-resources/
  Forum: By Share Code

nipper
Posted on: Nov 18 2019, 01:05 PM


Group: Member
Posts: 6,429

with your HIN or SRN, can log into the CHESS sub-registry (is it Link ?) and get the pre-populated personalised form with BPay details for EFT. Should be up soon; also should get same as email today or tomorrow.


Hoffentlich
  Forum: By Share Code

nipper
Posted on: Nov 18 2019, 12:34 PM


Group: Member
Posts: 6,429

Mick, the little guy can never win
QUOTE
....presently intended that a maximum of 6,818,181 Shares will be issued pursuant to the Offer, which would raise a maximum of approximately $3,000,000. Applications will be accepted on a ‘first in, first accepted’ basis and will not be able to be withdrawn once made.

The Board presently intends that Offer will close after the maximum amount of $3,000,000 has been raised, however it reserves the right to accept oversubscriptions

The '' top chelons' are each kicking in $30k .... if, with a hundred early subscribers putting in full amount, then it's all over. No scale back, or at least I can't see mention of.
  Forum: By Share Code

nipper
Posted on: Nov 18 2019, 09:59 AM


Group: Member
Posts: 6,429

QUOTE
It’s expected that hydrogen will replace diesel in long-haul transport — trucks, trains and ships — while lithium-ion batteries replace unleaded petrol in cars.

Hydrogen is not burned like petrol and diesel: it is used as a feedstock for fuel cells that produce electricity that then drive electric motors, in place of batteries. As with batteries, the electricity comes from a chemical reaction, in this case from the hydrogen combining with oxygen to produce water. You can apparently drink the exhaust.

The work of Finkel, and the COAG Hydrogen Working Group he’s leading, is only one of a number of state and federal projects going on.

Queensland, Western Australia and South Australia have all announced and funded hydrogen strategies and the Australian ­Renewable Energy Agency (ARENA) is funding at least nine hydrogen projects, including a left-field one in Perth by ASX-listed Hazer Group to produce hydrogen plus graphite from waste methane.

Meanwhile, Fortescue Metals Group is working with the CSIRO on a process for shipping hydrogen as ammonia: instead of liquefying the hydrogen directly like LNG, the idea is that nitrogen is added to it to create NH3 (ammonia), which requires much less energy to liquefy for transportation. The nitrogen is then removed at the other end. The Fortescue plan is to build a hydrogen factory in the Kimberley using the abundant water that’s there plus the even more abundant sunshine for electricity, and use it to replace the diesel fuel in its mines as well as export it as ammonia, as a new product line on top of iron ore.

https://www.theaustralian.com.au/business/h...a34fe2a6d47564d

.... we'll wait and see (and wait, some more)
  Forum: By Share Code

nipper
Posted on: Nov 18 2019, 08:29 AM


Group: Member
Posts: 6,429

Likely to open just a tad lower ..
QUOTE
The Australian sharemarket advanced for the fifth week in six at Friday's close, when it added 59 points or 0.9 per cent to 6793 points - just shy of the record high 6845 reached on July 30.

The S&P/ASX200 has rallied 388 points - or 6 per cent - from its August 16 low of 6405 points, with blue chips CSL adding 84 points, Commonwealth Bank contributing 42 points and Macquarie Group delivering a 26 point boost.

While the sheer size of the blue chips' market capitalisation has meant their advance has driven the market rally, small and mid-cap stocks have also done well this year; the Midcap 50 Index and Small Ordinaries Index have rallied 17.3 per cent and 19.4 per cent respectively.

The valuations of stocks have been helped by the decline in bond yields. The yield on Australia's 10-year bond fell to 1.15 per cent on Friday after rising to 1.29 per cent on November 11. Bond yields fell after a rise in the unemployment rate to 5.3 per cent in October (from 5.2 per cent) raised the odds of an interest rate cut at the Reserve Bank of Australia's February meeting.
  Forum: Investment Discussion

nipper
Posted on: Nov 18 2019, 07:32 AM


Group: Member
Posts: 6,429

How digitisation is changing the NEM
https://www.aemc.gov.au/news-centre/media-r...ing-grid-future

https://www.aemc.gov.au/news-centre/media-r...s-energy-market
  Forum: By Share Code

nipper
Posted on: Nov 17 2019, 07:19 PM


Group: Member
Posts: 6,429

QUOTE
Momentum among stocks in the healthcare sector is tipped to continue in 2020 as a range of small and mid-sized biotech and medical device companies hope for clinical trial results before the year's end.

The healthcare vertical has been the best performer – up 34 per cent – of the ASX 200 indices this calendar year, and the bulk of the gains have come in the second half. The rise has been led by stocks such as CSL, Cochlear and Nanosonics, putting the sector ahead of other top performers such as IT and consumer discretionary stocks.

Morgans senior analyst Scott Power said the rise in the big stocks was filtering down into the mid and small-cap segment, as investors took a renewed interest in the life sciences space.

"In this low growth world, if you can deliver good growth, you're being rewarded. The sector is definitely positioned very well for 2020," Mr Power said. "The smaller end of town is very speculative and it tends to come in cycles. There was a lot of interest in resources 24 months ago, then it moved to technology and anything software-as-a-service (SaaS). Now we're seeing money flowing into these life sciences names.

"We're seeing interest in e-health, anything digital and anything to do with artificial intelligence or medical applications with an SaaS model. Then, companies with near-term catalysts are also being closely watched ... catalysts will attract eyeballs and if they're successful, multiples will go up immediately; if not, they come down pretty quick."

Businesses that have already been re-rated on account of strong clinical trial results or sales growth include Polynovo, Paradigm Biopharmaceuticals, Nanosonics and Opthea.

Among the companies Mr Power expects will release clinical trial results or announce news of regulatory approvals before the end of 2019 are Antisense Therapeutics, Volpara Health Technologies, ResApp and Novita Healthcare...

https://www.afr.com/companies/healthcare-an...20191103-p536zt
  Forum: Investment Discussion

nipper
Posted on: Nov 17 2019, 05:49 PM


Group: Member
Posts: 6,429

QUOTE
Powerful people those Marshes
.... time to drain the swamp?
  Forum: Off Topic Chat

nipper
Posted on: Nov 17 2019, 05:28 PM


Group: Member
Posts: 6,429

And now
QUOTE
Magmatic Resources Limited (ASX:MAG)

With several heavy-hitters in its corner, Magmatic Resources has been on an upward trend since listing in May this year.

MAG has four advanced projects in the historic and highly prospective East Lachlan Fold Belt in NSW. It purchased these assets from the $41 billion Gold Fields Limited, the world’s seventh largest gold producer.

Interestingly Gold Fields remains a major 20% shareholder illustrating how valuable these assets may be and considering it has successfully spent $13.5 million exploring projects in the region, MAG has picked the right partner, in what looks to be the right place.

MAG has a very busy schedule to round out this quarter and recent news from the MAG camp would have both companies looking forward to imminent assay results.

Results released in October are highly encouraging and there are more to come over the following weeks and months, including results from its Parkes project which is backed by its other heavy-hitting partner JOGMEC, a division of the Japanese government.
https://www.nextminingboom.com/company/mag/

...and MAG has been on a roll, of late.
  Forum: By Share Code

nipper
Posted on: Nov 17 2019, 05:22 PM


Group: Member
Posts: 6,429

SKIN & SURFACE SANITISERS THAT KEEP WORKING AFTER THEY'RE APPLIED.
.
QUOTE
Zoono Group are leading experts in antimicrobial protection, and listed on the Australian Stock Exchange (ASX:ZNO)

Zoono specialises in the development, manufacture and global distribution of a unique range of long-lasting and environmentally friendly antimicrobial solutions.'

doing well recently
  Forum: By Share Code

nipper
Posted on: Nov 16 2019, 02:26 PM


Group: Member
Posts: 6,429

QUOTE
Bell Potter raised $120 million in institutional money for Avita Medical on Wednesday, just days after the skin regeneration biotech replaced residential aged care operator Aveo at the arse end of the ASX200.

Fortuitously, only two weeks earlier, Bell’s healthcare analyst John Hester had slapped a buy on the stock. On October 31, he upgraded Avita’s valuation from 69¢ to 83¢ per share. At its market capitalisation of $1.12 billion, it’s trading at 146 times revenue.

Hester’s research was labelled prominently, in red font, as “speculative”. Less prominently, was the disclosure that Bell Potter “acted as lead manager of [Avita’s] 2017 capital raise of $16.9 million and 2018 capital raise for $40 million and received fees for that service.”

Nine pages later, in the fine print: “Bell Potter Securities [and] its employees… may from time to time hold interests in the securities referred to in this document.” Oh, and (as we’ve previously noted) “John Hester owns 20,000 shares in AVH.” Of course he does. Squint and you’d almost miss it.

What isn’t mentioned (even if the prospect is broadly disclaimed, as above) is that Bell Potter’s director of institutional broking in Hong Kong, Adam White, is Avita Medical’s 20th largest shareholder. According to the FY19 annual report lodged on October 10, White owns 3.3 million shares, worth $1.95 million at Thursday’s close.

According to Bell’s deal sheet, its Avita offer was available only to investors in Australia and Hong Kong. Certainly looks like they’ve got the latter covered.

https://www.afr.com/rear-window/bell-potter...20191114-p53alk

- hmmmm
  Forum: By Share Code

nipper
Posted on: Nov 16 2019, 10:03 AM


Group: Member
Posts: 6,429

QUOTE
This week, we highlight WAM Active's (ASX: WAA) holding in financial services company EML Payments (ASX: EML). EML provides instant and secure payment solutions across 21 countries in North America, Europe and Australia.

On Monday, the company announced the acquisition of Irish financial technology company Prepaid Financial Services for $423 million, providing EML with a suite of digital banking services.

We first invested in EML as we were attracted to the growth profile and operating leverage of the business and have seen an improvement in the competitive landscape as banks have exited the space. We remain attracted to the acquisition opportunities for EML and see a strong earnings growth profile. Shares in EML closed up 14.7% for the week.

- bold move for a small cap to take on another player half it's size
  Forum: By Share Code

nipper
Posted on: Nov 15 2019, 08:31 PM


Group: Member
Posts: 6,429

Focus on quality yield, not near-term income
QUOTE
It is the subject most share market experts and commentators would rather not talk about: buying cheaply-priced stocks works best when interest rates are higher, economic growth and cycles are relatively robust and there is no mass-disruption eroding barriers of entry and technological innovations.

The current environment is different. Interest rates are exceptionally low, and likely to move lower still. Economic growth the world around post-GFC has never been quite the same, and the overall pace remains low by historical standards. And change caused by innovations.

Cheap companies might stay cheap
The direct result is that corporate throwbacks, missteps and failures are not necessarily temporary in nature, as was mostly the case pre-2012. Cheaply-priced companies might find it hard to sustainably improve their operations and thus catch up with the prolonged bull market in equities.

It is one reason why 80 of small cap and 92% of large cap actively managed funds in Australia, according to a recent sector update by Morgan Stanley, are unable to keep pace with their benchmark, let alone decisively beat it.

There are plenty of examples to choose from. In the health care sector, far and away the best performing in Australia, plenty of funds preferred Healius (ASX:HLS) instead of the much more ‘expensive’ looking Cochlear (ASX:COH), ResMed (ASX:RMD) or CSL (ASX:CSL). Yet it's the ‘cheaper’ one out of these four that has, on balance, hardly performed on a five-year horizon.

Amongst REITs, one of the better-performing segments on the ASX, the likes of Goodman Group (ASX:GMG) have at times become the focus of short-positioning, but the share price consistently moved upwards, at least until the mini-correction in August this year.

Once upon a time, Goodman Group shares were highly sought after by income hungry retirees, but these days the shares only offer circa 2% forward looking. That can serve as an indication of how ‘expensive’ those shares have become.

Income-seeking investors have instead preferenced REITs such as Vicinity Centres (ASX:VCX), which still offers circa 6% yield. On the flip side, Vicinity shares have eroded some -23% since their peak in mid-2016 and have largely trended sideways throughout 2019 when most market indices added near 20%.

Amidst an ongoing tough outlook for industrials in Australia, the increasing number of profit warnings and negative market updates are accompanied by a reduction in the dividend for shareholders. There are predictions of a lower payout by Vicinity Centres in 2020, and, post the recent profit warning, Medibank Private's (ASX:MPL) FY20 dividend might be at risk too.

Cheap stocks might lag for good reason
Probably the most striking examples have come from the banking sector, in particular in Australia, prominently represented in investment portfolios. If it isn't because of the dividend appeal, it's because the sector remains by far the largest on the local stock exchange with all four majors plus Macquarie included in the ASX Top10.

In a recent strategy update on global banks, analysts at Citi offered the following warning for investors: Don't Buy Cheapest Banks.

Their motivation: "Pursuing a Value strategy within the global Bank sector has been an especially disastrous strategy. Cheap banks in Europe and Japan have got even cheaper. More expensive banks in the US have stayed expensive. We don't expect this valuation gap to mean-revert anytime soon."

In other words: when growth is elusive, and the pressure is on, investors should adjust their strategy and focus too. Cheap stocks might be lagging for good reasons.

With yield curves inverting for government bonds, economic momentum struggling and credit growth sluggish, banks globally have been lagging the bull market. Hence the recent reset in bond markets, whereby yield curves steepened, and triggered a renewed interest in bank shares around the world. This is part of the rotation into ‘value’ career professionals like to talk about.

But Citi analysts are not buying it. They argue valuations for bank shares should stay ‘cheap’ because the global economy remains weak and bond yields will remain low.

In Australia, it can be argued, bank shares are not particularly ‘cheap’, as they have benefited from the attraction of 5%-6% dividend yield. But they seem ‘cheap’ in comparison with stocks like Macquarie Group (ASX:MQG), Transurban (ASX:TCL) and Charter Hall (ASX:CHC). These stocks that have fully participated in the share market uptrend and contributed with gusto to pushing major indices to an all-time high this year.

Banking sector not all about yield
Yet, the October-November reporting season has left shareholders with a sour after-taste. All of Bank of Queensland (ASX:BOQ), Westpac (ASX:WBC) and National Australia Bank (ASX:NAB) announced a sizable reduction in their final dividends, while ANZ Bank (ASX:ANZ) kept it stable, but with -30% less franking. In a surprise move, Westpac raised extra capital too.

Little surprise, the local bank sector has been the worst performer of late. October delivered a general decline of -4.4% for the sector to keep the overall performance for the Australian market slightly in the negative for the month. In the words of UBS: "it appears the market is coming to terms with the outlook of decreased profitability from lower rates and increased capital requirements".

The higher yield (as implied by a ‘cheaper’ share price) does not make the better investment. It's usually the exact opposite.

Commbank (ASX:CBA) shares trade at a noticeable premium and its premium valuation is backed up by superior returns versus ‘The Rest’ over five, 10, 15 and 20 years. Occasionally, one of the laggards in the sector might experience a catch-up rally that temporarily pushes CBA into the shadows, but the two prize for consistency and performance in Australian banking are CBA and Macquarie.

This by no means implies there cannot be more negative news from CBA or the other banks. If investors want more evidence the ‘Golden Years’ for banking in Australia are now well and truly in the past, Morgan Stanley's research shows banks have noticeably underperformed five prolonged times since 2000, with two of the five periods occurring since April 2015.
.....
What the banks have once again shown to investors is that higher yield tends to correlate with higher risk. And that risk should not be solely measured in loss of capital. CBA shares have trended sideways since September 2015. Over that same period, shares in Macquarie have appreciated by some 75%.

For a slightly lower dividend yield on offer, backed by a superior growth profile, Australian income investors could have accumulated significantly better returns if only they weren't so afraid of paying a little more for it.

Where can cash be deployed in the share market?
So what is an investor to do who today is sitting on some cash, looking to be deployed in the share market?

My advice is to look for quality yield. What exactly defines quality yield? It's a dividend that is most likely to rise over multiple years ahead. Admittedly, such a proposition is probably not available at 5.5% or 6%, but then again, investors are less likely to find themselves confronted with capital erosion or a dividend cut further down the track.

Look for research that is not solely based upon ‘valuation’, relative or otherwise. Foe example, Morgan Stanley prefers ‘manufacturers’ over ‘collectors’ and ‘creators’ over ‘owners’, with the team labelling itself ‘selective with value’. Identified property sector favourites are Stockland (ASX:SGP), Goodman Group and Mirvac (ASX:MGR). Sector exposures to stay away from, even though they might look ‘cheap’, according to the team, include Scentre Group (ASX:SCG), Vicinity Centres and GPT (ASX:GPT).

Investors should note Morgan Stanley analysts agree with the view that owners of retail assets look ‘cheap’, but they still see shopping malls coming under pressure from both tenants and consumers.

Macquarie analysts have compared infrastructure stocks with utilities and AREITs and concluded utilities currently offer the superior total income profile, with infrastructure and AREITs both equal second. Risk-adjusted, Macquarie believes, infrastructure offers the highest potential return. AREITs are seen offering 'a balanced yield exposure'.

On Macquarie's projections, utilities such as AusNet Services (ASX:AST) and Spark Infrastructure (ASX:SKI) carry the highest income potential over the next three years, but they also come with the highest correlation with the broader share market (meaning: above average volatility in share prices). This is most likely because they offer little in terms of growth. It's all high yield.


https://www.firstlinks.com.au/article/focus...0ad48a-83781601
  Forum: Investment Discussion

nipper
Posted on: Nov 15 2019, 07:59 PM


Group: Member
Posts: 6,429

QUOTE
PM Scott Morrison and US President Donald Trump agreed to develop a US-Australia action plan for so-called “critical minerals” such as rare earths when they met in September.

And on Friday federal Resources Minister Matt Canavan is arriv­ing in the US ahead of a series of meetings on rare earths with senior US government figures.

But for all the talk, unlocking the next wave of Australian projects still looks a long way off.

China’s control of the market has kept international prices low, and the next generation of potential projects has not been able to secure the level of support needed to develop the projects that would challenge China’s dominance.

Many in the industry have had enough of the tweets and strategic papers. Instead, they want to see real action from those concerned governments that say they are ­serious about tackling dependency on Chinese rare earths products.

https://www.theaustralian.com.au/inquirer/r...bbab3acecd38b7f
.
- no point in starting a mine if the concentrate has to be shipped to China for processing. (Some projects have been around for 30 years, and it seems lots of hopefuls from the previous time the market got excited seem to be coming around again.).
  Forum: Investment Discussion

nipper
Posted on: Nov 15 2019, 07:18 PM


Group: Member
Posts: 6,429

A fund manager's view on shorting
https://www.firstlinks.com.au/article/short...0ad48a-83781601
QUOTE
Shorting deserves more respect
  Forum: Off Topic Chat

nipper
Posted on: Nov 15 2019, 05:49 PM


Group: Member
Posts: 6,429

QUOTE
[raised capital goes towards] funding the last stage of development prior to planned Stage 1 financing of the Vittangi Graphite Anode Project.

Use of funds includes scale up of Talnode®-C for customer qualification, progressing the Vittangi Graphite Anode Project Stage 1 DFS, advancing Talga’s north Sweden projects for battery anode products and graphene additives, and general working capital...
- I suppose given that none of these activities actually turns a dollar or contributes to earnings, a discount is the only way to pull money in the door.

Now SPP raisings are at $30,000 per share holder, I'd guess the $3mill cap will see scale backs. Dislike that!!
  Forum: By Share Code

nipper
Posted on: Nov 15 2019, 09:12 AM


Group: Member
Posts: 6,429

Hydrogen .....the smallest molecule.
  Forum: By Share Code

nipper
Posted on: Nov 14 2019, 07:19 PM


Group: Member
Posts: 6,429

Palmer is a rent-seeker, par excellence
  Forum: Investment Discussion

nipper
Posted on: Nov 14 2019, 06:38 PM


Group: Member
Posts: 6,429

QUOTE
Ecofibre Limited (ASX:EOF, and now OTC – Nasdaq Intl Designation: EOFBF) is pleased to announce that it has been admitted into the Nasdaq International Designation program under the symbol EOFBF. This is an over-the-counter (OTC) program designed for non-US companies, which provides greater visibility to US investors.

"Two of Ecofibre's three businesses are located in the US", said Ecofibre CEO Eric Wang, "and as the Company’s profile increases this designation provides simpler access to US-based investors".

Member companies of the Nasdaq International Designation are not listed or traded on The Nasdaq Stock Market, LLC. and are not subject to the same listing or qualification standards applicable to securities listed or traded on an exchange.
  Forum: By Share Code

nipper
Posted on: Nov 14 2019, 03:51 PM


Group: Member
Posts: 6,429

QUOTE
Owners of solar farms say a draft ruling from the Australian Energy Market Commission rejecting proposed changes in the allocation of transmission losses on the grid will be devastating for the renewable energy industry and threaten reliable supply.

A group of 20 investors, including Macquarie, BlackRock and AGL Energy's PARF venture with QIC, said renewable energy developers are slowing or stopping investment in response to the losses resulting from grid bottlenecks. That practice is putting "upward pressure" on consumer prices, the Clean Energy Investor Group said on Thursday.

The Clean Energy Council said that without changes, the downturn in investment that has hit the industry this year will continue to worsen.

"This will not only be devastating for the clean energy industry, but also places Australia’s future energy reliability at risk as new investment in wind and solar is needed to replace our ageing coal generators," Clean Energy Council chief Kane Thornton said....

https://www.afr.com/companies/energy/solar-...20191114-p53ah4
  Forum: Macro Factors

nipper
Posted on: Nov 14 2019, 03:43 PM


Group: Member
Posts: 6,429

QUOTE
quando
....try "when"
  Forum: Macro Factors

nipper
Posted on: Nov 14 2019, 09:29 AM


Group: Member
Posts: 6,429

QUOTE
..a particularly happy chart,

Now 8.5c , was sub 5c when I posted last week. smile.gif
  Forum: By Share Code

nipper
Posted on: Nov 14 2019, 09:16 AM


Group: Member
Posts: 6,429

QUOTE
The Morrison government is pulling out all stops to make cheap money available for rare earths and other critical minerals projects as it works with the United States on ways to reduce China’s near stranglehold on supply.

The government will set up a dedicated office within the Department of Industry as it looks to secure critical minerals projects in Australia with an emphasis on those strategically important in defence. Defence Minister Linda Reynolds said the government's moves would "help deliver the capability that keeps Australia safe".

The government will make projects that boost mining and processing of rare earths and other key ingredients in military technology eligible for financial support through Export Finance Australia, including the Defence Export Facility.

The government is also tweaking rules around the much-maligned $5 billion Northern Australian Infrastructure Facility so the granting of its low-interest loans does not exclude projects from additional taxpayer-funded support....

https://www.afr.com/companies/mining/canber...20191113-p53aae
QUOTE
Senator Canavan said Australian companies would be able to maximise their access to government support to expedite new on-shore rare earths and critical minerals processing.

"We are determined to develop our rare earths and critical minerals assets for the benefit of Australia and our technology-driven industries," he said.

The dedicated office with the Department of Industry will be tasked with helping industry players with investment, financing and market access.

Senator Canavan said Australia should become a global powerhouse in critical minerals needed in electric vehicles, smartphones and renewable energy as well as the military.
  Forum: Investment Discussion

nipper
Posted on: Nov 13 2019, 05:05 PM


Group: Member
Posts: 6,429

QUOTE
Shareholders of BAF have been waiting for a year for news on its future management plans after negotiations with an entity owned by Pinnacle Investment Management and Andrew Champion collapsed. The LIC had warned mid-month that fresh negotiations to appoint a new manager were "incomplete" and that other options such as an orderly wind down of the portfolio were under consideration.

Mr Wilson told the meeting that his aim was to get the business to a $1 billion firm, saying "I see no reason" why that wouldn't be possible. [He] acknowledged that a shift into the alternatives space would be a new avenue for Wilson Asset Management but appeared undaunted by the task.

"There is enormous demand for the alternative space in Australia," he said. "Our plan is to get Blue Sky trading at true value – to get the share price to reflect the NTA [net tangible assets]." Blue Sky's LIC trades at a 22 per cent discount to NTA.

Mr Wilson takes the view that the long process to appoint a manager has "tightened up the share register and all the stale bulls and non-believers have gone". He said on the sidelines of the annual meeting that WAM planned to charge a 1 per cent management fee for a five-year agreement, and would not charge a performance fee.

https://www.afr.com/markets/equity-markets/...20191113-p53a3t
  Forum: By Share Code

nipper
Posted on: Nov 13 2019, 11:09 AM


Group: Member
Posts: 6,429

QUOTE
Following an extensive process, BSAAF, BAF’s current manager and BAF have reached a consensus on key commercial terms (on a without prejudice and without admissions basis) to facilitate a consensual transition of BAF’s management rights to Wilson Asset qManagement. This consensus is not final and remains subject to further negotiation and conditions
  Forum: By Share Code

nipper
Posted on: Nov 13 2019, 07:32 AM


Group: Member
Posts: 6,429

Main culprit behind lithium metal battery failure

QUOTE
Summary:
Researchers have discovered the root cause of why lithium metal batteries fail -- bits of lithium metal deposits break off from the surface of the anode during discharging and are trapped as 'dead' lithium that the battery can no longer cycle. The discovery challenges a long-held belief in the field about lithium metal battery failure..

.
https://www.sciencedaily.com/releases/2019/...90821135244.htm
  Forum: By Share Code

nipper
Posted on: Nov 12 2019, 11:44 PM


Group: Member
Posts: 6,429

QUOTE
Tinybeans Group Ltd (ASX: TNY) share price has gone ballistic in 2019, surging more than 1125% in the past 12 months. The company’s share price opened the year at 26 cents and is currently trading at an all time high of $3.30.

What does Tinybeans do?
Tinybeans is a free social media platform developed in Australia, aimed at parents who want to capture, store and share photos and videos of their children within a secure community.

The Tinybeans platform is designed to boost online safety and security and maintain user privacy. The application creates a contained, invite-only environment where parents can upload photos and videos of their kids and securely share the content with an approved network.

Tinybeans currently has an engaged user base of 3.5 million members in over 200 countries and generates revenue through advertising from brands, premium subscriptions and printed products.

How has Tinybeans performed?

Earlier this year, Tinybeans reported earnings for FY19, which saw operational revenue increase 118% from the year prior to $3.9 million. The company also experienced a 31% growth in monthly active users of 1.23 million. In addition, Tinybeans boasts a 76% retention rate for FY19 and is well poised for accelerating growth with a $5.6 million cash balance.

In the company’s recent quarterly report, Tinybeans saw revenue increase 91% to $1.12 million in comparison to the prior corresponding quarter. The company’s strategy to grow sales and revenue involves partnering with larger brands and it has also made progress in growing its advertising sales pipeline.

What has been driving the Tinybeans share price?
The price action reflects great optimism in the current and future growth prospects of Tinybeans. According to the company, a ‘Millennial Moms’ report from a Goldman Sachs highlights the market opportunity for goods and services for babies and children.

According to the report, US$1 trillion is currently spent in the sector, which is forecast to grow even further thanks to the influence of new technologies.
- Motley Fool
  Forum: By Share Code

nipper
Posted on: Nov 12 2019, 07:52 PM


Group: Member
Posts: 6,429

Why Lithium Batteries Fail
https://www.sciencedaily.com/releases/2019/...90821135244.htm

QUOTE
The discovery, published Aug. 21 in Nature, challenges the conventional belief that lithium metal batteries fail because of the growth of a layer, called the solid electrolyte interphase (SEI), between the lithium anode and the electrolyte.

The researchers made their discovery by developing a technique to measure the amounts of inactive lithium species on the anode -- a first in the field of battery research -- and studying their micro- and nanostructures.

The findings could pave the way for bringing rechargeable lithium metal batteries from the lab to the market.
  Forum: Investment Discussion

nipper
Posted on: Nov 11 2019, 04:10 PM


Group: Member
Posts: 6,429

Closed at day's high, above $270. Out of the blocks at a canter and barely looked back all day.
  Forum: By Share Code

nipper
Posted on: Nov 11 2019, 04:08 PM


Group: Member
Posts: 6,429

Maybe turning the corner?
QUOTE
New Zealand Rural Connectivity Group (RCG) has chosen Redflow zinc-bromine flow batteries to store energy in off-grid telecommunication sites in remote rural locations. Commercial negotiations to establish a direct relationship between RCG and Redflow to purchase batteries are now underway.

The RCG was established by the New Zealand Government in 2017 as an independent entity to build, operate and maintain a new open access network. The RCG will build over 400 new cell sites in rural locations to extend mobile and wireless broadband coverage to more than 34,000 rural homes and businesses, provide mobile coverage to a further 1000 kilometres of state highways and provide connectivity to more than 100 top New Zealand tourist destinations by December 2022. The new cell
sites will be a combination of both off-grid and on-grid locations

...up 15%
  Forum: By Share Code

nipper
Posted on: Nov 9 2019, 10:00 PM


Group: Member
Posts: 6,429

Hadn't heard about this one; did the double take seeing headline
Total Brain placement

.
.
QUOTE
Mental health and fitness platform Total Brain has completed a $14 million placement with support from Platinum Asset Management and Regal Funds Management

not a particularly happy chart,
  Forum: By Share Code

nipper
Posted on: Nov 9 2019, 07:22 PM


Group: Member
Posts: 6,429

Woolworths pushing ahead with drinks demerger

https://www.sharecafe.com.au/2019/11/05/woo...rinks-demerger/

.... and then Coles and Woolworths will be comparable again (sort of)
  Forum: By Share Code

nipper
Posted on: Nov 9 2019, 01:41 AM


Group: Member
Posts: 6,429

As they were leaving the concert, what did one pill popper say to his mate as the drugs wore off?

"What is this sh*t music?"
  Forum: Off Topic Chat

nipper
Posted on: Nov 8 2019, 06:29 PM


Group: Member
Posts: 6,429

Assuming customers have mobile phones, ..
QUOTE
MedAdvisor's free app connects to pharmacy dispensing systems to automatically retrieve medication records and drive an intelligent training, information and reminder system to ensure correct and reliable medication use.
.
Sort of an electronic Webster Pack V2.0

- for the pharmacy chains, I guess it would create 'sticky' customers?!
  Forum: By Share Code

nipper
Posted on: Nov 8 2019, 05:27 PM


Group: Member
Posts: 6,429

QUOTE
"Just anecdotally, I was in the IMF meetings in Washington a couple of weeks ago and every single meeting that I had, we talked about ESG. I know that’s anecdotal, but it’s a really booming area.”
- Douglas L. Peterson, CEO, S&P Global

“Something to keep an eye on is ESG this has become a factor, which is very important in Europe in investors’ minds. It is increasingly becoming more pervasive in the U.S., obviously, we’re seeing it in our asset management business, and you can see the investments we’ve made there. I think increasingly, this is becoming a topic for boardroom discussions.”
- Kenneth Jacobs, CEO, Lazard

*Environmental, Social and Governance
  Forum: Investment Discussion

nipper
Posted on: Nov 8 2019, 04:50 PM


Group: Member
Posts: 6,429

It's not called Dope for nothing
  Forum: Off Topic Chat

nipper
Posted on: Nov 7 2019, 04:28 PM


Group: Member
Posts: 6,429

Seeing it was nearly $6 a month ago, the news
QUOTE
SP up 16.28% @ $4.00
is less impressive.

Thx for the charts; easy reminder of preceding performance (or lack thereof)
  Forum: By Share Code

nipper
Posted on: Nov 7 2019, 04:03 PM


Group: Member
Posts: 6,429

QUOTE
Key Highlights:
• Sigma Healthcare (ASX:SIG) which owns the Amcal, Discount Drug Stores (DDS), Guardian, PharmaSave, Chemist King and WholeLife pharmacy brands, has signed a 2-year Sigma-wide group agreement with MedAdvisor
• Sigma will support the use of branded versions of MedAdvisor by their 600+ pharmacy member network, further driving consumer loyalty to Sigma pharmacy brands
• Following the success of existing white labelled MedAdvisor mobile apps enjoyed by DDS, PharmaSave and Chemist King, this agreement will add new branded version apps for Amcal, Guardian and WholeLife pharmacies
• Potential for MedAdvisor to add around 200 Sigma group pharmacies not currently subscribed
• Under the agreement, total revenue contribution from the Sigma network of brands will increase and is expected to exceed $1 million per year
• MedAdvisor now has long term contracts with three of the four major pharmacy groups being the Sigma network of brands, TerryWhite Chemmart and Chemist Warehouse

Up 18% ... becoming the industry standard
  Forum: By Share Code

nipper
Posted on: Nov 7 2019, 03:54 PM


Group: Member
Posts: 6,429

QUOTE
Early next year, one of the first power projects that combine solar and wind generation with battery storage is planning to start up in Queensland. The Kennedy Energy Park, just outside the sleepy town of Hughendon, will combine 43 megawatts of wind and 20 megawatts of solar with a 2-megawatt Tesla lithium-ion battery.

Hybrid projects like Kennedy aim to tackle a problem faced by climate change challengers, and grid planners, across the globe: how to firm-up intermittent renewable power so that the lights stay on when the sun doesn't shine or the wind doesn't blow.

It could also be a precursor of what's to come in the next decade. Plunging green technology costs are opening up markets and suppliers are seeking new avenues to combat falling margins. Australia, India, and the US already have a combined pipeline of more than 4000 megawatts of hybrid, or co-located projects, according to BloombergNEF analysis.

Kennedy Energy Park's location is one of the best on the planet for pairing a strong and consistent solar resource with a highly complementary wind profile, said Roger Price, chief executive officer of Windlab, the company leading the development along with Eurus Energy Holdings.....

Originally Bloomberg, ...
https://www.afr.com/policy/energy-and-clima...20191106-p537sf
  Forum: Investment Discussion

nipper
Posted on: Nov 7 2019, 09:00 AM


Group: Member
Posts: 6,429

QUOTE
madness has a lot in common with the old Dutch Tulip fever

- with ExReb, it's more waiting for the Kool Aid to make an appearance
  Forum: Off Topic Chat

nipper
Posted on: Nov 6 2019, 09:44 AM


Group: Member
Posts: 6,429

Yes, we need inflation.
  Forum: Investment Discussion

nipper
Posted on: Nov 6 2019, 09:31 AM


Group: Member
Posts: 6,429

Future Lithium Batteries, according to co-inventor.

Podcast: ... https://www-lifehacker-com-au.cdn.ampprojec...-co-inventor%2F
  Forum: Investment Discussion

nipper
Posted on: Nov 6 2019, 09:04 AM


Group: Member
Posts: 6,429

QUOTE
Having outsourced those low paid jobs to Asia, the service industry is now king.
correct.

... with high debt levels, employment / participation is a big one to watch
  Forum: Investment Discussion

nipper
Posted on: Nov 5 2019, 08:57 PM


Group: Member
Posts: 6,429

Craig Williams rides local stayer Vow And Declare to win the 2019 Melbourne Cup at Flemington Racecourse.
Paid $10 for the win. 🏇
  Forum: Off Topic Chat

nipper
Posted on: Nov 5 2019, 07:50 AM


Group: Member
Posts: 6,429

24 horses. What are the odds?
  Forum: Off Topic Chat

nipper
Posted on: Nov 5 2019, 07:43 AM


Group: Member
Posts: 6,429

QUOTE
CSL's strategy of building out its plasma collection centres even when there was a period of oversupply was paying off.

"Many of CSL's largest competitors have experienced constraint in terms of supply into this space and CSL is well-placed to grow share," [an analyst] said. "Five, six, seven years ago, people said immunoglobulin would slow down and return to a normalised period. While there was a period of oversupply, CSL stuck to its strategy of rolling out collection centres in the US, investing for growth and securing the volume for themselves.

"When competitors were holding back because they lacked vision for five years down the track, CSL invested … and now we see year after year of demand outstripping supply and the other competitors just don't have enough capacity to keep up with the accelerated demand."

Immunoglobulin therapies are used to treat conditions such as Kawasaki disease, Guillain-Barre syndrome, lupus, chronic inflammatory demyelinating polyneuropathy and immune deficiencies. The diseases range from chronic to life-threatening conditions.

A Credit Suisse note on CSL revealed the growth in demand for immunoglobulin in the three biggest global markets of the US, Australia and Canada was tracking at 9-12 per cent, above the historical norm of 6-8 per cent, due to increased awareness of the diseases it's used to treat, ageing patients and increased dosages. To meet the growing demand, an additional 80-90 plasma collection centres would need to be opened each year between now and 2025.

In July, major US hospital Massachusetts General activated its Incident Command System, usually used for major disasters such as terrorist attacks, to address the immunoglobulin shortage. In a statement about the shortage, the hospital said it had been forced to cancel some patient appointments due to the lack of immunoglobulin and that the shortage could persist into 2020....
  Forum: By Share Code

nipper
Posted on: Nov 4 2019, 07:39 PM


Group: Member
Posts: 6,429

WAM Global Limited (ASX: WGB)
QUOTE
WAM Global is run by the Wilson Asset Management team, it’s aiming to be the global shares version of WAM Capital Limited (ASX: WAM), which has been running for two decades and has a grossed-up dividend yield of 10%.

I think there are many more opportunities in places like North America, Europe and Asia than on the ASX, so WAM Global could be a good way to get targeted exposure to those undervalued growth opportunities.

It’s trading at a 12% discount to the net tangible assets (NTA) at 30 September 2019 and over time I’m sure the dividend yield will steadily grow to a similar yield level as the newer WAM LICs.
- Motley Fool
  Forum: By Share Code

nipper
Posted on: Nov 4 2019, 08:51 AM


Group: Member
Posts: 6,429

No surprise, really. NAB probably will do so, as well. Lowest CET1 capital ratios below 10.75%


https://boards.sharecafe.com.au/index.php?s...80&hl=Banks
  Forum: By Share Code

nipper
Posted on: Nov 4 2019, 08:49 AM


Group: Member
Posts: 6,429

12-18 month trial
QUOTE
Talga (TLG) announced the commencement of a commercial-scale trial of a Talga graphene-enhanced coating applied to a 33,000t container ship.

Believed to be the world’s largest single application of graphene, the 700m2 coating of the cargo vessel’s hull is part of advanced testing of Talga’s functionalised graphene (Talphene®) additive as a performance booster for existing commercial marine coatings (part of the global 54 million tonne per annum paint and coating market).
  Forum: By Share Code

nipper
Posted on: Nov 3 2019, 04:34 PM


Group: Member
Posts: 6,429

Had been trading in 30-40c range since IPO in Nov 2018; then changed course, with a steady rise to almost $1 in Sept - Oct. And now the TH, cap raise.

Such a predictable path. Congrats to the media team (Spring Communications)
  Forum: By Share Code

nipper
Posted on: Nov 3 2019, 02:04 PM


Group: Member
Posts: 6,429

QUOTE
EMVision Medical Devices has tapped Blue Ocean Equities to pitch an equity raising to investors on Friday.

The imaging technology company is looking to raise $4 million in a share placement at 74¢; a 12.9 per cent discount to its 85¢ last close. Bids were due by 4pm Monday, according to a terms sheet sent to fund managers.

The medical device firm's main product is a brain scanner, used to diagnose and monitor stroke and traumatic brain injury.

The company has a $49 million market capitalisation and is lead by Dr Ron Weinberger, the former head of $2 billion sterilisation company Nanosonics.

Funds raised will be used for product development and clinical validation
  Forum: By Share Code

nipper
Posted on: Nov 3 2019, 12:15 PM


Group: Member
Posts: 6,429

QUOTE
"The 2019 Melbourne Mercer Global Pensions Index has rated the Australian retirement system as the third best in the world so there is a disconnect between the performance of the industry and how members feel ... by better educating members on the improvements they've achieved and the relative strengths of the Australian super system, funds could improve their members' retirement confidence."

It's far more than the ongoing industry fund versus retail fund stoush. Six leading figures have weighed into the super debate again in recent days, including:

Finance Minister Mathias Cormann admitted people were sick of politicians "tinkering" with superannuation, and the Retirement Income Review "will not lead to any change". It will simply inform the public on how the super system operates.

Senator Jane Hume, Assistant Minister for Superannuation and Financial Services, said the superannuation system was "beleaguered by disengagement and opacity" and government has a moral obligation to make the system as efficient as possible.

Bill Kelty, the union executive credited with initiating the current super system, said former Treasurer Wayne Swan was a "miserable bastard" for only increasing the super guarantee (SG) by 0.5% during the Rudd-Gillard years. Kelty and Paul Keating would "go to their grave" fighting for the 12% SG.

Innes Willox, CEO of the Australian Industry Group, said the legislated 2.5% increase in SG to 12% needed to be weighed up against the cost to business of its implementation.

Paul Keating said, "Willox is kidding us ... Superannuation has revolutionised Australia. It is the greatest reform to capital markets in the history of the country. Only a government of indecipherable recklessness would upend or damage such a system."

Former Treasurer Peter Costello told a Citibank Conference that compulsory superannuation had failed because "there was not a lot of thought given to how it would be managed once it was in these funds and how it would come out ... We realise that fees were extraordinarily high, some of the products were no good, and at the end of all this, when you get your entitlement, there's still this huge gap as to 'what do I do now?'"

With such strong positions and vested interests, it's difficult to have an informed debate
  Forum: Investment Discussion

nipper
Posted on: Nov 3 2019, 12:05 PM


Group: Member
Posts: 6,429

https://www.firstlinks.com.au/article/shoul...0572ff-83781601

CBA Perls XII
QUOTE
CBAPI’s issue margin of 3.00% provides a relatively attractive premium to our current fair value curve of major bank AT1 securities in the 7.5-year term to call range.

Following completion of the bookbuild, CBA has finalised the issue size at $1.25bn and a margin of 3.00%. Initially only seeking $750m and an indicative margin range of 3.00% to 3.20%, investor demand was clearly strong. The hunt for yield continues, triggered by low cash rates and growing expectations the RBA will cut further and even implement some form of quantitative easing in Australia.

Our near-term outlook for hybrid pricing remains constructive. The major banks are profitable, have strong AT1 capital positions and need to raise more Tier 2 Capital.....
Morningstar.

- it ain't a term deposit; risk is much higher
  Forum: By Share Code

nipper
Posted on: Nov 3 2019, 11:58 AM


Group: Member
Posts: 6,429

AJ Lucas, Cudmilla.

must be an election round the corner
  Forum: Macro Factors

nipper
Posted on: Nov 3 2019, 11:50 AM


Group: Member
Posts: 6,429

https://www.sharecafe.com.au/2019/11/01/cop...-market-update/
QUOTE
Conclusion

In the copper market at present, speculators are very much focused on the here and the now. Fears over trade, economic growth and political instability, have taken centre stage for the time being. These concerns have led to pessimism and lower levels of investor interest generally in the copper sector. However as we know, things can change very quickly. Investor sentiment can change rapidly, particularly if a trade deal between the US and China can be reached.

From a bigger picture perspective, the outlook for copper remains positive. There are big question marks over the supply-side’s capacity to meet burgeoning demand. Of course, higher prices will ultimately flush out new sources of supply, but at the present time flat prices are hampering the development of new supply. Current circumstances have the potential to delay the onset of new copper mines, thus making the supply gap even worse.

For savvy investors, now is likely an appropriate time to be evaluating copper equities.

- Gavin Wendt

... interesting graphs on supply/ demand and inventories
  Forum: Macro Factors

nipper
Posted on: Nov 3 2019, 11:46 AM


Group: Member
Posts: 6,429

QUOTE
Palla Pharma (formerly TPI Enterprises)

Palla is an internationally licenced narcotic producer supplying pain relief products. It has fully integrated operations taking product from the farm gate to tablet production and has operations in Victoria and Norway.

Palla has developed an innovative, efficient and environmentally sustainable water-based method for extracting narcotic raw material from opium poppies. Its manufacturing cost advantage is central to its strategy to achieve significant market share growth.

For the six months ended 30 Jun 2019, Palla reported the following results which are compared to those of the first half last year:
- Record revenue of $27.3 million, up 20.3%.
- Gross profit margin of 34.6%, up 126 bps.
- Operating earnings before interest and tax up $2.1 million, to $0.3 million.
- Underlying net loss of $2.3 million (2018 $3.9 million loss).

Increases in Narcotic Raw Material extraction rates and Active Pharmaceutical Ingredient production led to a substantial improvement in operational efficiencies and an enhanced gross profit margin. Palla plans to increase its Active Pharmaceutical Ingredient production by a further 50% by the end of its 2019 financial year.

too bad about the opioid Crisis
  Forum: By Share Code

nipper
Posted on: Nov 3 2019, 09:44 AM


Group: Member
Posts: 6,429

And Russia has begun pricing oil sales in non USD terms, Rosneft at least.

Xi and Putin talking about these things
  Forum: Investment Discussion

nipper
Posted on: Nov 2 2019, 06:54 AM


Group: Member
Posts: 6,429

The case for recovery for MND
https://www.sharecafe.com.au/2019/10/31/the...n-monadelphous/

- my favourite exposure to the sector
  Forum: By Share Code

Poll: The Banks
nipper
Posted on: Nov 1 2019, 06:59 PM


Group: Member
Posts: 6,429

QUOTE
The ANZ result showed the impact of slower credit growth and compression of the net interest margin (NIM), a major earnings driver, as a result of falling interest rates. ANZ also announced that its dividend will be held flat and franked at 70.0%, which may have disappointed shareholders.

The increased costs may prove to be a trend in the banking sector and we will watch closely as the other banks report their results. Specifically, Westpac (ASX: WBC) and National Australia Bank's (ASX: NAB) results will provide an indication of whether the impacts were limited to ANZ or have spread to the rest of the sector. The combination of higher costs, lacklustre credit growth and regulatory capital risks might see boards reduce dividends for banks with tighter capital ratios.
- common fundie view
  Forum: Investment Discussion

nipper
Posted on: Nov 1 2019, 03:33 PM


Group: Member
Posts: 6,429

Impressive further jump today ... 50% to 9c
QUOTE
HIGHLIGHTS
▪ FDA cleared digital therapeutic TALi Train (digital attention treatment program) to be delivered via U.S. Reimbursement Code system
▪ TALi Detect and TALi Train able to begin to report using CPT codes - a significant development for company growth
▪ TALi Train to be a complimentary or alternate option for those requiring attention testing and training with more than 8 million children in the USA currently diagnosed with ADHD and/or ASD1
▪ Potential partner and insurer discussions progressing well with an accelerated timeline now in place
  Forum: By Share Code

nipper
Posted on: Nov 1 2019, 02:38 PM


Group: Member
Posts: 6,429

BAF slowly recovering (or at least reducing the discount the market has given it). It has paid a 4c ff dividend recently, and taken in cash for student accom (above carrying). The company came out with a statement on 29 Oct stating it continues to be concerned about the disconnect between current market valuation and underlying value of assets held.

With a NTA of $1.11 per share, this includes pro forma cash of 29c and water fund (independently valued every month) at 34c; this leaves the rest of the assets (some dodgy, some doing OK) basically valued by the market at 36% of what they are, on the books.

Of course, some see this as an opportunity; Global Value Fund now has >5% holding, and its manager has recently joined the board.
QUOTE
GVF first invested into BAF in May 2018, following the release of highly critical short seller report, aimed at the management company, BLA. In the aftermath of the short-sellers report, and after extensive due diligence, GVF purchased shares in BAF as wide as a 37% discount to NTA. In May 2019, BLA had receivers and administrators appointed. In June 2019, GVF Portfolio Manager, Miles Staude, accepted an invitation to join the BAF board....

- and then Geoff Wilson is hovering, and has
QUOTE
reiterated his intention to negotiate a successful takeover of the Blue Sky Alternative Access Fund despite stalled talks, and dismissed any residual reputation damage associated with the troubled Blue Sky brand. "Oh, we'd rebrand it," he said.


So, where now? London based Staude is in the country; the team at BAF is moving ahead, glacially perhaps, as it tries to match the tough guys (Oaktree, Korda, even Wilson)
QUOTE
The Board fully appreciates that the Company’s association with the BLA group has been challenging, that for the last 18 months or more shareholders have endured substantial loss of value and frustration through that association, and that the process for the appointment of a replacement manager has taken far longer than would reasonably be expected. Given this, if the Company is unable reach a satisfactory agreement with the relevant parties in the near future, the Board will consider other options.

These have been outlined to shareholders previously, and include:
- an orderly wind-down of BAF and return of capital to BAF shareholders;
- termination of the exclusive management services agreement between BAF and its manager, BSAAF Management Pty Limited (BSAAF) for breach by BSAAF;
- other possible actions under the MSA; and
- additional capital management initiatives.

Until there's news, perhaps a discount IS warranted?
  Forum: By Share Code

nipper
Posted on: Nov 1 2019, 02:17 PM


Group: Member
Posts: 6,429

maybe
---... always taken the view; it's a long way from markets
  Forum: By Share Code

nipper
Posted on: Nov 1 2019, 01:44 PM


Group: Member
Posts: 6,429

EnergyAustralia not entering into for long-term energy agreement and equity investment

DOWN 40%

QUOTE
Accordingly, Genex anticipates that the NAIF concessional loan offer and the J-POWER share subscription agreement will both lapse at or prior to 31 December 2019 (unless..... )
ouch.. all fall down
  Forum: By Share Code

nipper
Posted on: Nov 1 2019, 11:18 AM


Group: Member
Posts: 6,429

Interesting... they found something to do! Former status until recently:
QUOTE
Vysarn Limited (VYS, formerly MHM Metals Limited) is involved in the assessment of new opportunities with a view to increasing shareholder value, the reduction of operating costs and the preservation of cash
Not straying too far from their earlier incompetency. A quick look at Anns; restated to Official List in Sept, picked up waterwell drilling for FMG, Anglogold Ashanti and now Gina's Roy Hill.
  Forum: By Share Code

nipper
Posted on: Nov 1 2019, 08:17 AM


Group: Member
Posts: 6,429

QUOTE
- $3m has been raised from the exercise of warrants from long-term, pre-IPO shareholders. Some 94% or 6m warrants were exercised, with the remaining now lapsed

 $20.4m has been injected into Calix during October as a result of:
o Institutional Placement of $12m at $0.70 per share to fund IER acquisition
o Share Purchase Plan of $0.9m on the same terms as the Placement
o Warrant conversion of $3m
o $4.5m R&D rebate

- Operationally, Calix is exceeding expectations, with first quarter sales up materially by 48% on the pcp to $0.92m
- Calix is on track to complete the strategically important IER acquisition before the end of CY19, targeting significantly increased sales from deal completion
  Forum: By Share Code

nipper
Posted on: Nov 1 2019, 06:44 AM


Group: Member
Posts: 6,429

Leightons acquired John Holland in 2000

Leightons was subject to Cimic creeping acquisition for about a decade. Rebranded as Cimic but still listed with a small free-float

Cimic is a multi-headed beast - also now owns UGL, Theiss and Sedgman (among many others).

Basically, its either Cimic or the bush. LendLease give it a run, plus other European and Asian contractors moving in because of the infrastructure spend. Typical multinational behaviour, but then with the size of projects these days, the balance sheet needs to be correspondingly large (no one ever got fired for buying IBM)
  Forum: By Share Code

nipper
Posted on: Oct 31 2019, 04:40 PM


Group: Member
Posts: 6,429

QUOTE
Declining to name names, Wilson said he had his eye on a number of his competitors in the listed space that are currently trading at a discount to net tangible assets.

WAM entities hold existing minority stakes in LICs Contango Income Generator, Templeton Global Growth Fund and Concentrated Leaders Fund.

He reiterated his intention to negotiate a successful takeover of the Blue Sky Alternative Access Fund despite stalled talks, and dismissed any residual reputation damage associated with the troubled Blue Sky brand. "Oh, we'd rebrand it," he said.
  Forum: By Share Code

nipper
Posted on: Oct 31 2019, 09:36 AM


Group: Member
Posts: 6,429

nope. ......you got it, eb. Ad you're probably right for the grind.
  Forum: Macro Factors

nipper
Posted on: Oct 31 2019, 09:01 AM


Group: Member
Posts: 6,429

50-year Swiss bond yields have now risen to the salivating yield of minus .007% from minus 53 basis points


- and most yield curves no longer inverted (flat, but no longer doom-laden)
  Forum: Investment Discussion

nipper
Posted on: Oct 31 2019, 08:59 AM


Group: Member
Posts: 6,429

ASX opening slightly higher
  Forum: Macro Factors

nipper
Posted on: Oct 31 2019, 08:31 AM


Group: Member
Posts: 6,429

Cost of capital. ....
QUOTE
Coles Group Treasury Pty Ltd has priced $600 million of fixed rate Australian dollar medium term notes, comprising $300 million of seven-year Notes and $300 million of 10-year Notes.

The seven-year Notes were priced with a coupon of 2.2% and the 10-year Notes were priced with a coupon of 2.65% .

Pretty easy to get a good return these days. Haha.
  Forum: Investment Discussion

nipper
Posted on: Oct 31 2019, 07:29 AM


Group: Member
Posts: 6,429


QUOTE
ANZ Banking Group chief Shayne Elliott said its retail and commercial bank had had a "challenging" year, with increased remediation charges, intense competition and record low interest rates curtailing earnings, as ANZ reported a cash profit for the full year of $6.47 billion for its continuing operations, in-line with expectations and flat on the previous period.

But cash profit in the Australian retail and commercial operations was down 10 per cent for the year to $3.6 billion, in what Mr Elliott described as a "messy year". After ANZ hit the brakes too hard on lending during the royal commission, he said there had been a steady recovery in home loan applications in recent months, although this was yet to flow through to the financial results.

He said ANZ was "getting our mojo back" and expected the mortgage momentum to be maintained into 2020, although the results showed an up-tick in mortgage arrears. "We’ve got some really competitive product offerings, we’re seeing our market share and volume increase again," he said.

ANZ kept its second half dividend flat at 80 cents per share - but reduced the franking level to 70 per cent, which it justified on its wealth divestments and the "changing operating environment". "Our decision to reduce franking to a new base reflects the changed shape of our business as well as recognising how important the dividend, franking and predictability is to shareholders,” Mr Elliott said.
  Forum: By Share Code

nipper
Posted on: Oct 31 2019, 06:46 AM


Group: Member
Posts: 6,429

One fund manager's thinking about oil and gas investment:
QUOTE
“Stocks are already priced for certain outcomes and in some cases they are priced for a terrible outcome. For us to do well the outcome only has to be bad, not terrible,” [Allan Gray analyst] Suhus Nayak said.

The investment case for energy is based around three pillars of thought. First, growth in electric vehicles is overstated and petrol cars will be with us for a long time. Second, the economics of swing producers such as shale are more marginal than most think.

And third, estimates of stranded resources are overblown. Most major energy companies do not have assets that will last longer than 12 years, according to Allan Gray. They will produce solid cash flow right up until then, enabling them to return your investment over that period.

Mr Nayak used the weighting of the energy sector in the S&P 500 to prove his point, saying it was at a 30-year low despite the oil price running at roughly double the level it was at in 2016.

https://www.afr.com/companies/financial-ser...20191030-p535og
  Forum: Macro Factors

nipper
Posted on: Oct 30 2019, 09:12 PM


Group: Member
Posts: 6,429

Interesting article. Thanks for posting.
  Forum: Investment Discussion

nipper
Posted on: Oct 30 2019, 05:55 PM


Group: Member
Posts: 6,429

and, realistically, without the CUV parallel universe, this site would have gone to electrondust
  Forum: Off Topic Chat

nipper
Posted on: Oct 30 2019, 05:24 PM


Group: Member
Posts: 6,429

proactive. /prəʊˈaktɪv/
adjective
(of a person or action) creating or controlling a situation rather than just responding to it after it has happened.

Would be more than happy to be among myriad others. Vive l'hétérodoxe

(PS. essentially use SC as a pre- sort of info, of sorts)
  Forum: Off Topic Chat

nipper
Posted on: Oct 30 2019, 02:40 PM


Group: Member
Posts: 6,429

Liddell has 4 x 500MW steam driven turbo alternators = 2000 megawatts. So, its a start. But not huge, and not 24/7 replacement.
  Forum: By Share Code

nipper
Posted on: Oct 30 2019, 12:15 PM


Group: Member
Posts: 6,429

Novita Healthcare Limited (NHL, formerly Avexa Limited) ...
QUOTE
is a Melbourne-based medical technology company which focuses innovation, development and commercialisation of healthcare technologies. Novita Healthcare's first major project is the TALI system, which uses cutting edge technology to treat and monitor cognitive problems such as attention difficulties in early childhood.

TALi TRAIN uses proprietary algorithms inside a game-based learning application to improve core attention skills in early childhood (talihealth.com)


- thought I'd seen this before. Now, where was I?
  Forum: By Share Code

nipper
Posted on: Oct 30 2019, 11:34 AM


Group: Member
Posts: 6,429

Here's a woefully under-baked story about the next big thing (an Aluminium-air battery). And it's not rechargeable.
https://smallcaps.com.au/can-new-high-range...um-ion-battery/

- that they're aiming for the tuk-tuk market says something about the lack of power, I suspect. Also the involvement of Austin .... a new version of the A40, anyone?
  Forum: Investment Discussion

nipper
Posted on: Oct 30 2019, 09:19 AM


Group: Member
Posts: 6,429

energetic buying at the open for DRO, after release of the Q.
QUOTE
The Company raised $9,550,000 in new capital, from a substantially institutional investor base, transforming, expanding and further institutionalising its share register, market capitalisation and market liquidity, and securing its capital base for a long-term runway.

While the Company’s cash inflows from customers were $333,779 for the quarter, the Company ended the quarter with approximately $3,000,000 worth of orders that have been placed by the Company’s customers and for which payments are expected to be made in the subsequent quarters

.
Approx. $200,000 of the cash inflows during the quarter related to a new order placed by the Ministry of Defence of a large Middle Eastern country for which drone defence has recently become a critical national security issue.

The Australian Department of Defence placed the first substantial order with DroneShields' recently released RfPatrolTM product, in the amount of $700,000.

DroneShield entered into a watershed partnership with BT, the largest telecommunications provider in the UK, which is rolling out a suite of counterdrone services nationwide in the UK, with DroneShield as its sole counterdrone provider.

The Company continued to progress multiple substantial contracts globally, with a keypotential bid for an order in the amount of $60 million - $70 million having progressed from the preferred bidder status to a negotiated form of agreemen
  Forum: By Share Code

nipper
Posted on: Oct 30 2019, 08:43 AM


Group: Member
Posts: 6,429

Quarterly out. Getting some money in the door .... enough to avoid a call on capital in the 1H20? Long lead times are the bugbear of the Govt decision making process.
QUOTE
Outlook

The company is currently enjoying very strong interest from potential customers in adopting our world-class information security platform. Whilst sales cycles are not unexpectedly long given the nature of government and military sectors, the company is nonetheless confident of its ability to monetise its investment to date in developing the Kojensi platform.

Feedback from industry confirms that our solution addresses unmet industry needs and our business model provides a highly affordable offering. Importantly, this same model provides for significant scalable growth as adoption increases and collaboration between organisations increases over time.

Our vision is that any group concerned about sharing and protecting the confidentiality, integrity and availability of its sensitive information is doing so using the Kojensi platform.
  Forum: By Share Code

nipper
Posted on: Oct 30 2019, 08:34 AM


Group: Member
Posts: 6,429

QUOTE
Tlou Energy Limited (TOU) is a Coalbed Methane (CBM) natural gas company, focused delivering power in Botswana and southern Africa through the development of coal bed methane. The Company's primary focus is on the Lesedi project area in Botswana.
  Forum: By Share Code

nipper
Posted on: Oct 30 2019, 07:39 AM


Group: Member
Posts: 6,429

QUOTE
LBT Innovations Limited (LBT, formerly LabTech Systems) is a developer of clinical and diagnostic technology, based in Adelaide, South Australia. The Company has product named Automated Plate Assessment System (APAS) in microbiology automation


it gets a mention from the "under the radar" guy
QUOTE
LBT Innovations (LBT)

Next cab off the rank is Adelaide-based LBT Innovations, which has developed an automated ­machine that uses AI to work in pathology laboratories. Its Automated Plate Assessment System platform technology automates culture-plate screening and interpretation, speeding up the process by at least three times that of a manual reading. The technology was developed by LBT in collaboration with the University of Adelaide’s Australian Institute of Machine Learning. In May, the company’s shares spiked after it announced that its 50 per cent-owned joint venture Clever Culture Systems received US FDA approval for LBT’s platform, but it still has a long way to go.

- hasn't really done much in the past 10 years. Bit of a spike in 2017, and again in May. It's a long and winding road.
  Forum: By Share Code

nipper
Posted on: Oct 29 2019, 08:21 PM


Group: Member
Posts: 6,429

and Altech would slip off any sensible Watchlist, I presume

https://boards.sharecafe.com.au/index.php?s...c=16178&hl=
  Forum: By Share Code

nipper
Posted on: Oct 29 2019, 08:10 PM


Group: Member
Posts: 6,429

pig in a Poke?
At least Directors' fees will continue.
  Forum: By Share Code

nipper
Posted on: Oct 29 2019, 07:13 PM


Group: Member
Posts: 6,429

the yield curve has reverted (to normal-ish). 10's are above the 2's.
the local QE talk is just that. A shot or 2 across the bows.

Sure growth is sluggish, but there's a pullback from continuing non-conventional measures. and, sure, abnormal interest rate returns are helping riskier behaviour but that's the New normal. And/but Where is $inflation?
  Forum: Macro Factors

nipper
Posted on: Oct 29 2019, 06:48 PM


Group: Member
Posts: 6,429

yes ... though, just because
QUOTE
... we have a triumvirate of asset bubbles (stocks, real estate and bonds) that exist globally....
...there is no causal link that the asset class that dares not say its name will be the beneficiary.

Gold is Insurance.
  Forum: Macro Factors

nipper
Posted on: Oct 29 2019, 02:11 PM


Group: Member
Posts: 6,429

and at .. https://www.livewiremarkets.com/wires/scide...he-water-stocks

with a link to a blog at .. http://justcultureinvestor.blogspot.com/2019/07/DEM.html
QUOTE
am currently trying to better predict companies at or just before they reach an inflection point, DEM is in my opinion, just such a company. The market is assigning a market cap of just $25m, which is only 6 million higher than when they IPO’d back in 2017. Since then they have proven and increased their product offering, increased their revenue by 3657%, purchased a 32% stake in Aromatec, expanded into Australia through an acquisition (potentially again) and then further expanded within Australia by opening offices in Adelaide and Melbourne. The Australian revenue since DEM has taken over have increased by $3m (42.8%) and their new contracts to date (July) are 40.2% higher than the whole of CY2018. Whilst they have not yet produced a profit in any quarter, they got extremely close in Q2 and Q3 last year and I believe they are currently sitting just a stone’s throw away from hitting this massive milestone. However, due to this, I would recommend that only those with a considerable risk tolerance begin their own analysis, a lot of things need to come together for this thesis to work out.

  Forum: By Share Code

nipper
Posted on: Oct 29 2019, 11:38 AM


Group: Member
Posts: 6,429

"There is clearly the crazy shit like WeWork going on but WeWork is a real outlier in terms of net crazy," said Daniel Petre of AirTree Ventures
  Forum: Off Topic Chat

nipper
Posted on: Oct 29 2019, 10:43 AM


Group: Member
Posts: 6,429

QUOTE
Canadian based Kirkland Lake now trades on the Australian Securities Exchange via Chess depositary interests (CDIs). The value of Kirkland Lake's Australian securities has more than tripled in the past two years, outperforming the company's Toronto-listed securities.

The arbitrage between Kirkland Lake's Australian and Canadian securities appears to have been noticed by some investors, with its Australian CDI's becoming the most shorted stock on the ASX on October 22.

As recently as September 30, none of Kirkland Lake's local securities were sold short. But by October 22, more than 18 per cent of local shares effectively were betting on a fall in the value of Kirkland Lake's Australian securities.

..... the Fosterville deep gold mine outside Bendigo has been a game changer. Adjoining tenements are now up for sale.
QUOTE
... The exploration tenement previously known as EL3539 was taken out of Kirkland Lake's hands in February as part of a deal that absorbed portions of the tenement into the Fosterville mining lease. But the acreage is back on the market with a new name ; the tenement will be called Block 4 and will cover more land.

Given Kirkland Lake's extraordinary exploration success at Fosterville, Block 4 is expected to be the most hotly contested of four tenements put up for tender by the Victorian government this week.

Extremely high-grade gold discoveries deep underground in 2015 turned Fosterville, near Bendigo, into Australia's most lucrative pure-play gold mine, with rivals such as Newcrest's Cadia mine being more lucrative only because of their copper byproducts.
  Forum: Macro Factors

nipper
Posted on: Oct 29 2019, 09:20 AM


Group: Member
Posts: 6,429

QUOTE
initial public offering of VGI Partners Asian Investments Limited (VG8) has indicatively raised $556 million.

VGI Partners’ Executive Chairman, Robert Luciano, said, “We are very pleased with the successful initial public offering of VGI Partners Asian Investments Limited and the level of support we have received from both existing and new VGI Partners investors. We see real opportunity to apply the VGI Partners’ investment philosophy to the Asian region and we have the resources to deliver on this opportunity. VGI Partners strives to achieve true alignment with investors in each of its funds and we are pleased that once again we have been able to raise the bar in this regard.”

The Asian investment strategy is only the second investment strategy to be launched by VGI Partners. In managing VG8, VGI Partners will draw on its 11-year track record of providing investors with capital growth over the long term through investing in a concentrated portfolio of listed securities, always with a strong bias to capital preservation.
  Forum: By Share Code

nipper
Posted on: Oct 28 2019, 05:58 PM


Group: Member
Posts: 6,429

QUOTE
Costa announced that it would raise $176 million through a fully underwritten renounceable pro-rata entitlement offer to repay debt and give it extra capacity to withstand the impact of prolonged drought conditions.

The 1-for-4 raising is being done at a price of $2.20 per share. Costa has been in a trading halt on the ASX for a week. The stock last traded at $3.46.

Costa shares were fetching $5.38 in late May this year.

The company cut its profit guidance for calendar 2019 for net profit after tax to around $28 million, and earnings before interest,tax, depreciation and amortisation to $98 million. Both of those forecasts are prior to the impact of the SGARA agricultural accounting standard.

Mr Debney described calendar year 2019 as a ''challenging and disappointing year'' for the company because of a combination of cyclical, one-off and structural issues.
  Forum: By Share Code

nipper
Posted on: Oct 28 2019, 02:05 PM


Group: Member
Posts: 6,429

And the backlash... With a number of recent IPO flops,
QUOTE
....there remained an unbridgeable gap between the unlisted valuation and what investors in the listed market were prepared to pay.

Some .... investors argue that the size of this gulf suggests that private equity firms have been living in an echo chamber when it comes to valuing high-growth firms. They argue that huge growth in the size of the unlisted investment space means that it has become increasingly common for private equity firms to realise their investments by selling to other private equity firms, rather than by going through the traditional channel of a sharemarket listing.

But there's a danger that as private equity firms swap assets between themselves in the unlisted market, they'll increasingly convince themselves that high-growth firms deserve astronomic valuations.

Of course, it suits private equity players to adopt this belief. Not only does it justify the often inflated prices they've paid to acquire stakes in private companies, it also results in a very flattering valuation of their existing stable of investments.

Such valuations won't be tested while the assets remain in the unlisted space. The risk, however, is that they'll be exposed as fanciful when an attempt is made to publicly list the company.

In turn, this raises the question of whether the double-digit returns that private equity firms have notched up in the past can be replicated in future. Especially if they've paid bullish prices for assets on the assumption that they can be flipped for an even higher price in future.

https://www.afr.com/companies/financial-ser...20191027-p534md
  Forum: Off Topic Chat

nipper
Posted on: Oct 28 2019, 01:40 PM


Group: Member
Posts: 6,429

QUOTE
Beach Energy announced a new gas discovery at its 50 per cent owned Beharra Springs site north of Perth. The conventional gas discovery exists at a depth of close to 4 kilometres with an estimate net gas pay of 36 metres, the company said.

“Perth Basin is a key growth asset in the Beach portfolio," Beach Managing Director Matt Kay said. “The location of the Beharra Springs Deep-1 well, 450 metres from the Beharra Springs gas processing facility, provides an opportunity to conduct extensive deliverability testing whilst commercialising a portion of the gas.”
  Forum: By Share Code

nipper
Posted on: Oct 26 2019, 07:20 PM


Group: Member
Posts: 6,429

QUOTE
About Energy One

• Energy One Limited (ASX:EOL) is a leading independent global supplier of Energy Trading and Risk Management (ETRM) Systems
• More than 10 years experience providing high quality software solutions for customers trading in complex and fast-paced wholesale energy markets
• The Company offers SaaS and automation solutions for the trading and scheduling of physical and contract bulk energy and derivatives (including
electricity, gas, liquid commodities and environmental and carbon trading)
• 50% of Australia’s bulk energy is traded using our systems. With offices in Australia and UK, the company has ~200 installations in 11 countries, nany with blue-chip international energy companies.

Points:.
1.what is the 5 minute market?
2.First customer using battery bidding
3. EOL’s software now dispatches almost half the physical electricity in the NEM and manages more than a third of the financial derivatives

... So: local story has price already built in. Got to manage the battery and 'renewable' inputs to grow. Plus prove they're the best to expand OS = scalable?

QUOTE
What is 5 Minute Settlement?

Many of the limitations that existed at NEM start are no longer present, with technology making it possible for settlement to occur on a 5-minute basis.

In November 2017, the Australian Energy Market Commission (AEMC), the rule-maker for the NEM, decided 5 Minute Settlement should be implemented in the NEM and come into effect on 1 July 2021. They tasked AEMO with the role of implementing changes to market procedures and systems necessary to perform 5 Minute settlement, as well as obligations on participants to adopt the changes
  Forum: By Share Code

nipper
Posted on: Oct 26 2019, 06:41 PM


Group: Member
Posts: 6,429

QUOTE
Over the past few years, Energy One has pursued growth through both organic expansion and targeted acquisitions.

The integration process has provided experience and insights which will prove valuable during similar exercises in the future. Whilst integration has proceeded as planned, both management and the Board have continued to focus on evaluating additional investment and acquisition opportunities. Importantly, the recent experience gained, when combined with the current capital structure, available debt facilities and stronger cash flows, affords the Company considerable financial capacity to continue pursuing further synergistic acquisition opportunities – if and when they should arise.

Looking forward, the domestic energy market will be undergoing significant change in the next 2-3 years, as regulatory adjustments to market structure (such as Australia’s cutting edge adoption of the 5-minute market) become reality. This requires front ended investment (which has already commenced) to allow customers to meet these but will create future opportunities as customers with legacy or less flexible product suites struggle to comply.

The opportunities in Europe will expand as our sales focus in the UK and exploration of European niches flow through to revenues, and existing UK customers are exposed to the capability of products like Energy Flow...
  Forum: By Share Code

nipper
Posted on: Oct 26 2019, 06:29 PM


Group: Member
Posts: 6,429

Oh dear. 12 years and not a nibble
QUOTE
Software company Energy One (ASX:EOL) is starting to grab the market’s attention, and the stock came in at the top of this week’s table with an RSI reading of 85.98.

It follows another strong run of gains after EOL released an investor presentation last Monday, where it highlighted a successful launch into UK and European markets.

Energy One’s software provides trading solutions for businesses operating in the wholesale energy market, across both physical energy (eg electricity and gas) as well as hedging and risk management.

ASX-listed since 2007, EOL’s share price only began gaining traction in 2017, and this month’s rally has taken the stock’s 2019 gain to almost 200 per cent.
  Forum: By Share Code

nipper
Posted on: Oct 26 2019, 04:31 PM


Group: Member
Posts: 6,429

with Michael Clark retiring,
QUOTE
... the turnaround of Treasury Wine has been nothing short of miraculous and has enriched investors who stood by the company — and Clarke himself, through share options and bonuses. Under his watch, the share price has rocketed from just over $3 to almost $19 and Treasury Wine has gone from pouring wine down the drain in the US to sitting on warehouses of superb wine that is getting better — and more valuable — with age.
  Forum: By Share Code

nipper
Posted on: Oct 26 2019, 12:31 PM


Group: Member
Posts: 6,429

QUOTE
Aerometrex is seeking to raise $25 million at $1 a share and is eyeing off an early December listing date. Aerometrex's market capitalisation would be $94.4 million at the completion of the offer.

Bids close at 10am on Thursday next week and a network presentation is scheduled for 11am on Monday. Morgans is the lead manager and underwriter to the IPO, [and is] pitching Aerometrex as a mini version of Nearmap,

Aerometrex directors, senior management and associates will escrow 100 per cent of their shares for 12 months from the listing date.

According to documents sent to fund managers, Aerometrex has achieved revenue growth of 28.8 per cent CAGR since 2017. Established in Adelaide in 1980, Aerometrex's main business is providing aerial imagery and mapping to clients like infrastructure groups, asset managers and government organisations.

The company will put the majority of the raised equity into its subscription and project based online aerial imagery service called MetroMap. A significant portion will also go into its 3D modelling products where it is looking to expand its operations in the United States
  Forum: Off Topic Chat

nipper
Posted on: Oct 26 2019, 12:18 PM


Group: Member
Posts: 6,429

https://www.lavablue.com.au/
QUOTE
Lava Blue is a science-led, unlisted public company, developing a High Purity Alumina project on granted mining and exploration permits in north Queensland.

https://www.qut.edu.au/research/article?id=153589
  Forum: By Share Code

nipper
Posted on: Oct 25 2019, 07:26 PM


Group: Member
Posts: 6,429

QUOTE
A new Seppelt prosecco in a can will be prominent over the next few weeks at Melbourne's spring racing carnival, including the Melbourne Cup.
Gawdelpus
  Forum: By Share Code

nipper
Posted on: Oct 25 2019, 06:36 PM


Group: Member
Posts: 6,429

QUOTE
Richard White, has branded an activist short-selling raid on the logistics software firm "misleading and entirely self-serving" and has pledged to stick to his strategy of buying businesses for growth.

WiseTech has become the largest ever Australian target of an activist short report after losing just over a fifth of its $10 billion valuation. Research firm J Capital Research claimed in two reports that WiseTech had inflated its revenues and relied too much on acquisitions to grow.

But Mr White – whose personal shareholding has declined by $1.2 billion since JCap lobbed its first report just over a week ago – told AFR Weekend that he was a "software guy" focused on doing "the right thing".

"You shouldn’t change your strategy because somebody comes at you from a vector that is very misleading and entirely self-serving," Mr White said after a brutal week in which WiseTech responded to two reports published by JCap.

WiseTech soared into the S&P/ASX 100 index after listing in 2016 but its shares have fallen about 22 per cent since JCap's first report was lobbed on October 17.

Correct
  Forum: By Share Code

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