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blacksheep
Posted on: Dec 9 2019, 01:41 PM


Group: Member
Posts: 6,791

Sezzle Inc. reports exceptional Black Friday / Cyber Monday growth
QUOTE
Highlights:
• Strong YoY sales growth for the Black Friday / Cyber Monday (BF/CM) event in
North America;
• Over 36,000 new Active Customers added over the BF/CM period;
• Sezzle Inc.’s Underlying Merchant Sales for the BF/CM period up over 400% vs.
last year; and
• Sezzle’s BF/CM mobile sales were over 85% of total sales for the period.

Sezzle Inc.’s (‘Sezzle’ or ‘the Company’) is pleased to provide the following update of its results
over the Black Friday / Cyber Monday (BF/CM) sales period.

The day after Thanksgiving in the U.S. is known as “Black Friday” and combined with Cyber Monday
marks the traditional start of the holiday shopping season. According to recently released data by
PYMTS, this year 151m shoppers in the US made a purchase on Black Friday alone.

Further,consumers across every income bracket increased their Black Friday spending by 34.1% between
2018 and 2019, on average.

Over the four-day BF/CM period Sezzle added over 36,000 new Active Customers,
representing a marked acceleration versus the 8,000 new Active Customers the Company attracted during BF/CM
in 2018. Underlying Merchant Sales (UMS) were up 402% versus 2018 to US$11.3m, comparing
extremely favorably with Sezzle’s UMS of US$157.5m for the 12 months to September 30, 2019.

Of note, a key tailwind for Sezzle’s business, the declining use of credit cards for retail purchases
was strongly evident over the BF/CM sales period as payment methods other than credit cards
were used by a majority of shoppers. According to the PYMNTS survey of 2000 consumers, instore use of credit cards by shoppers for payment declined from 50.2% of shoppers in 2018 to
49.3% this year.


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  Forum: By Share Code

blacksheep
Posted on: Dec 9 2019, 12:13 PM


Group: Member
Posts: 6,791

BUSH FIRE INCIDENT AT FORRESTANIA
Western Areas Ltd (“Western Areas” or the “Company”) advises that a bush fire incident has occurred on Wednesday
afternoon (4 December 2019) in the area of the Forrestania Nickel Operation (FNO).

The incident, believed to have started from a lightning strike, resulted in the temporary suspension of operations and
activation of the FNO fire safety protocols for all personnel. The immediate fire risk to people and assets has now
passed, while the fire is still being actively monitored.

Importantly, all personnel are safe and fully accounted for, however, communications in and out of FNO are very limited
at this time. Regular fly-in fly-out schedules for staff are expected to be unaffected.

No mining or infrastructure assets have sustained damage and normal operations are expected to resume imminently.
Presently the Company does not expect any impact to nickel production or cost guidance as a result of the incident.


The Company would like to extend its thanks to the various firefighting teams that have assisted in keeping our
people safe.
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  Forum: By Share Code

blacksheep
Posted on: Dec 9 2019, 12:10 PM


Group: Member
Posts: 6,791

LYNAS SELECTS KALGOORLIE FOR NEW CRACKING & LEACHING PLANT
QUOTE
Lynas Corporation Limited (ASX:LYC, OTC:LYSDY) (“Lynas”) is pleased to announce
Kalgoorlie, Western Australia, has been selected as the location for its new cracking and
leaching plant
, creating new jobs and a first step in establishing a critical minerals hub in
the Goldfields region.

Kalgoorlie was selected from the two shortlisted locations in the Goldfields region
following extensive due diligence. Kalgoorlie provides close proximity to the Lynas mine
at Mt Weld as well as a skilled workforce and a rich history in the mining and processing
industries.

Lynas has signed an option to sublease an industrial zoned property from the City of
Kalgoorlie-Boulder. The terms of the proposed sublease are now being finalised. The
signing of this option follows our signing of an MOU with the City of Kalgoorlie-Boulder,
details of which were announced on 6 September 2019.

Lynas’ Kalgoorlie cracking and leaching plant will upgrade the Lynas Mt Weld rare earth
concentrate that is currently exported to the Lynas rare earth processing facility in
Malaysia. It is a further step towards delivering on the Australian Government’s Critical
Minerals Strategy and the objective of the Western Australian Government for more
downstream processing. Lynas will also explore opportunities for the next stage
processing (upstream solvent extraction) in Western Australia.

In establishing these facilities, Lynas will also facilitate investment in infrastructure and
supply chain capabilities which can form the basis of further industry development in the
region. Lynas looks forward to continuing to develop its relationship with Curtin University
and the WA School of Mines working to create IP in the processing of critical minerals in
Australia.


read more -https://www.asx.com.au/asxpdf/20191209/pdf/44cdzsxtmw480l.pdf
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  Forum: By Share Code

blacksheep
Posted on: Dec 9 2019, 11:55 AM


Group: Member
Posts: 6,791

Updated chart
Total short positions as at 2/12/19 = 7.62%
https://www.shortman.com.au/stock?q=oml

NOTE CODE FOR OOHMEDIA IS NOW OML
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  Forum: By Share Code

blacksheep
Posted on: Dec 9 2019, 11:19 AM


Group: Member
Posts: 6,791

Extract AFR
QUOTE
Hearn insisted the board was right behind Hrdlicka’s strategy to ramp up marketing spending to help build the brand on the ground in China, where A2 Milk’s past strategy of selling into the country via the import channel known as the daigou trade will no longer deliver the same growth as it once did.

But where Hrdlicka has been prepared to sacrifice margin to get there, it appears that the board feels less sure about that part of the plan.


QUOTE
“The issue if there is one is about execution and balance. We want to balance between very strong growth and attractive margins.”


https://www.afr.com/chanticleer/behind-hrdl...20191209-p53i2b
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  Forum: By Share Code

blacksheep
Posted on: Dec 9 2019, 11:04 AM


Group: Member
Posts: 6,791

NOVONIX TO SUPPLY SAMSUNG SDI AND PURSUE R&D COLLABORATION
QUOTE
NOVONIX Limited (ASX: NVX) is very pleased to announce that it has reached conditional
agreement to supply lithium-ion battery anode material to SAMSUNG SDI, an international
manufacturer of lithium-ion batteries.

The agreement is NOVONIX’s first for its recently launched “PUREgraphite Anode” product
and positions NOVONIX as a new supplier in this specialised battery materials market.
The agreement follows more than six months of technical evaluation of PUREgraphite Anode
material and is intended as a first phase of a long-term arrangement.

Under the agreement NOVONIX will supply SAMSUNG SDI an initial volume of 500 metric
tons in 2020, consistent with NOVONIX’s currently being installed production capacity, with
first deliveries forecast to commence in October 2020.
Larger volumes will be considered each year and will be subject to supply performance by
NOVONIX, market conditions and SAMSUNG SDI overall requirements.

NOVONIX’s PUREgraphite anode material will be manufactured at its facility in the United
States and will be exported to SAMSUNG SDI battery manufacturing facilities in other
countries.

Signing of the purchasing agreement for 500 metric tons in 2020 is subject to SAMSUNG
SDI’s required quality assurance processes and audit of supplier processes fulfillment.
Pricing is commercially sensitive and strictly confidential between the parties.
Financial implications for NOVONIX are material with sales under this agreement matching
the initial production capacity currently being installed at the PUREgraphite facility in
Tennessee.

NOVONIX will accumulate initial inventory prior to expected first delivery in October 2020.
SAMSUNG SDI and NOVONIX will also explore opportunities for the supply of new graphite
anode materials for Electric Vehicle use in Samsung SDI products under R&D collaboration.
NOVONIX Managing Director, Philip St Baker, said “NOVONIX is extremely honored to supply
SAMSUNG SDI and we look forward to supporting SAMSUNG SDI in delivering higher
performance batteries to the global market.”

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  Forum: By Share Code

blacksheep
Posted on: Dec 9 2019, 11:01 AM


Group: Member
Posts: 6,791

Jay-Z, Larry Summers on Afterpay register
Joe Aston
QUOTE
In total, there are 15.3 million options still to be converted into ordinary Afterpay shares. But there are another 21.8 million convertible from the US employee share option plan into the parent company. The recipients of these haven’t been disclosed and cannot be requisitioned. We only know that “no [key management personnel] participated”, ruling out Eisen, Hancock and Nick Molnar.

Who could possibly own all of those American options? Kanye? The Kardashians? “World-class talent in the US who are critical to delivering the group’s US growth aspirations.” New merchants then? And if Afterpay is handing out free or cheap stock to lure big retailers onto the platform (and diluting existing shareholders in perpetuity), what then are the real unit costs of onboarding? And what’s the real profit/loss profile of the business once its suppliers are paid in cash instead of paper?

These are all, yet again, the crafty tech bro practices of a start-up, not of an established ASX 100 corporation. Boy can that Eisen dance.

read more - https://www.afr.com/rear-window/jay-z-larry...20191208-p53hzq
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  Forum: By Share Code

blacksheep
Posted on: Dec 9 2019, 10:57 AM


Group: Member
Posts: 6,791

Another pointless/desperate post - trying to suggest I'm a "ramper" but somehow only ONE of your examples qualify me for that role - #9 " Google anything about it and post it."

I read all the financial papers every morning - I don't need to "google it"

You should try it - educate yourself a little so that when you try and imply "[bn]o one wants to get in bed with MNS[/b]" you'll know who is in their bed and what connections they have, and then you won't look like a complete twat.

regarding #4 " Use multiple nicks to ramp with(that could not happen here?!!)" - you still have accounts in the name of "pilots" and "uniden" as well as "stocks"???? So yes, appears it can happen here. People in glass houses shouldn't cast stones


  Forum: By Share Code

blacksheep
Posted on: Dec 7 2019, 09:21 PM


Group: Member
Posts: 6,791

Why Tesla getting into the mining business makes sense - https://www.youtube.com/watch?v=wrmj7l8GqvA
3,140 views•Dec 6, 2019
Sean Mitchell

QUOTE
This is about more control over the entire production process from beginning to end

Today date Tesla relies on Panasonic to source raw materials, refine raw materials, produce battery cells in their facilities, then pass them off to Tesla to make battery packs.

We know that Tesla has been making moves to produce their own batteries with acquisitions of Maxwell and Hibar.

The last remaining piece of the puzzle is sourcing raw materials and the refinement of them.

Nickel is the single largest raw material.


What will Tesla’s new 2020 tech announcement be?: https://youtu.be/4zLNTN5c7qI

Tesla's Battery Exec Kurt Kelty Talks About The Gigafactory: https://youtu.be/s73nWTefuUM

Tesla referral code: http://ts.la/sean510
  Forum: Investment Discussion

blacksheep
Posted on: Dec 7 2019, 08:49 PM


Group: Member
Posts: 6,791

A selection of interviews from the recent Benchmark Minerals Week 2019

Simon Moores: 2020 is the Battery Metals Revolution Decade

Joe Lowry: Now is the Time to Put Money in High-quality Lithium Stocks

Chris Berry: 2 Factors That Will Determine Lithium Winners

Andrew Miller: Lithium Prices Certainly Close to Bottoming

Howard Klein: We’ll Bottom in Lithium 2.0, then Lithium 3.0 Will Start

Emily Hersh: Pay Attention to Social Unrest in the Lithium Triangle

Rodney Hooper: Price isn’t Everything When Choosing Lithium Stocks

Caspar Rawles: Will Cobalt See a Reversal of Fortunes in 2020?

Jim Lennon: 3 Nickel Price Factors to Watch in 2020

Adam Panayi: Quality and Availability Key for EV Batteries in the Short Term

https://investingnews.com/daily/resource-in...video-round-up/
  Forum: Investment Discussion

blacksheep
Posted on: Dec 7 2019, 02:56 PM


Group: Member
Posts: 6,791

Australian mining tycoon Andrew Forrest invests in giant solar farm
Cecilia Jamasmie | December 6, 2019 |

QUOTE
Australian mining billionaire and philanthropist Andrew “Twiggy” Forrest is said to have come to the rescue of a massive and troubled solar farm in Western Australia’s Wheatbelt, by agreeing to invest in the A$130 million ($88m) project.

Sydney-based Sun Brilliance has been working on a 100-megawatt solar farm at Cunderdin, about two hours east of Perth, since 2016. The company, however, has struggled to secure financing and faced snags connecting to the grid since it first proposed the project in 2016, Australian Broadcasting Corporation (ABC) reports.

Sun Brilliance confirmed through a tweet on Friday that it had held “very positive discussions” with a “high-calibre investor” to back its project, but didn’t mention Forrester or any of its companies.

Just two weeks ago, the founder of iron ore miner Fortescue Metals Group (ASX: FMG) grabbed headlines for backing another solar farm in Australia’s Northern Territory, which is expected to supply electricity to Singapore.

The company behind that project, Sun Cable, said Forrest’s Squadron Energy and Grok Ventures had become co-lead investors in the A$20 billion-plus development. If successful, the so called Australia-Singapore Power Link development would include a 10-gigawatt-capacity array of panels spread across 15,000 hectares near Tennant Creek, backed by about 22 gigawatt-hours in battery storage.

The Northern Territory plan is being developed alongside a similarly ambitious proposal for the Pilbara, the Asian Renewable Energy Hub. The proposed 15-gigawatt wind and solar hybrid plant is expected to power local industry and develop a green hydrogen manufacturing hub.

Forrester is also investing in 60 megawatt (MW) solar farm being built by Alinta Energy at Christmas Creek, which would help replace diesel generation at mines owned by Fortescue Metals.

https://www.mining.com/australias-mining-ty...ant-solar-farm/
  Forum: Macro Factors

blacksheep
Posted on: Dec 7 2019, 02:51 PM


Group: Member
Posts: 6,791

US payrolls light fire under copper price
Frik Els | December 6, 2019
QUOTE
The price of copper surged on Friday after reports showed the US economy is in robust health on the back of strong payroll numbers – the best reading since January – and progress is being made in trade talks with China.

Trade worries have dogged copper price bulls for the better part of a year, and China is vital to overall demand for the metal widely used in the manufacturing, construction, transportation and electricity sectors.

In afternoon trading in New York, copper for delivery in March continued to climb – hitting $2.7535 a pound ($6,070 a tonne), up 3.4% on the day and the highest since July.


QUOTE
The highest forecast for the average price in Q4 2020 is $7,000 per tonne ($3.17/lb) from Goldman Sachs (+16.7% from current price), while five investment banks and research firms, including JP Morgan and Commerzbank, see copper falling back below $6,000 a tonne. The median forecast for Q4 2020 is $6,255.

read more - https://www.mining.com/us-payrolls-light-fi...r-copper-price/
  Forum: Macro Factors

blacksheep
Posted on: Dec 7 2019, 02:49 PM


Group: Member
Posts: 6,791

Gold rally foiled again as payrolls torpedo weekly gain
Bloomberg News | December 6, 2019
QUOTE
Just when it looked like gold’s rally had gotten back on track, the US payrolls report came along.

The number of jobs added to the economy jumped 266,000 last month, the most since January, according to a government report Friday that topped all estimates in a Bloomberg survey calling for 180,000 jobs.

Gold has struggled to sustain recent rallies as resilient US economic data and bets on progress toward a U.S.-China trade deal limit demand for the metal as a haven. That weakens the case for more cuts on U.S. borrowing costs, further damping the appeal of the non-interest-bearing precious metal. Prices are down more than 6% from a six-year high reached in September.

The jobs report “is a blow-away number: It means there will be no more interest-rate cut, which is bearish for gold,” says Phil Streible, senior market strategist at RJO Futures.

read more - https://www.mining.com/web/gold-rally-foile...do-weekly-gain/
  Forum: Macro Factors

blacksheep
Posted on: Dec 7 2019, 02:46 PM


Group: Member
Posts: 6,791

4 charts that say this time the copper price surge could last
Frik Els | December 6, 2019
https://www.mining.com/4-charts-that-say-th...rge-could-last/
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  Forum: Macro Factors

blacksheep
Posted on: Dec 7 2019, 02:43 PM


Group: Member
Posts: 6,791

Nickel, cobalt price: Electric car sales are tanking, but metal use spikes
Frik Els | December 5, 2019
QUOTE
A bright spot for the mining industry, however, is the fact that the average nickel, cobalt and manganese use per EV battery continues to rise despite weakening market conditions, according to Adamas.

In October 2019, the average EV sold globally contained 22% more nickel, 19% more cobalt and 15% more manganese than the same month last year, helping suppliers offset the broader slowdown in EV sales and average battery capacity growth globally:

Overall, nickel has continued to outperform the market due to the ongoing shift from low-/no-nickel cathode chemistries, such as LFP and NCM 111 [equal parts nickel-cobalt-manganese], to higher-nickel varieties, such as NCM 523, 622, 811, as well as the latest generation of NCA used in the Tesla Model 3.

Additionally, cobalt has continued to outperform the market due to the rising popularity of cobalt-bearing NCM cathode chemistries in China, which continue to glean market share from the once-ubiquitous (and cobalt-devoid) LFP cathode alternative.

And in similar fashion, manganese has continued to outperform the market due to the ongoing shift in China from manganese-devoid (or manganese-minimal) cathode chemistries, such as LFP, to higher-manganese varieties, such as NCM 111, 523, 622 and 811.

https://www.mining.com/nickel-cobalt-price-...tal-use-spikes/
  Forum: Investment Discussion

blacksheep
Posted on: Dec 7 2019, 02:39 PM


Group: Member
Posts: 6,791

Noticed Warwick Smith (AL Capital/MNS Board member) got a mention in this article in The Australian - The Power List: Inside Scott Morrison’s inner circle of trust
https://www.theaustralian.com.au/nation/pol...f540909a894e9b4

QUOTE
The Weekend Australian today publishes The Power List, revealing the clique of strategically linked mandarins and confidants leading generational change in the public service and tasked with ­delivering a radical reform plan, slashing the bureaucracy and driving key policies.


QUOTE
Mr Morrison retains a tight-knit group of friends and advisers, led by businessman Scott Briggs and former Liberal staffer David Gazard. Yellow Brick Road chairman Mark Bouris, Macquarie Group managing director Shemara ­Wikramanayake, former prime minister John Howard, political strategist Lynton Crosby, former business colleague Adrian Harrington, former NSW police commissioner Andrew Scipione, former Liberal MP Warwick Smith and developer Harry Triguboff are considered key sounding boards for Mr Morrison. His former flatmates Stuart Robert and Steve Irons, both MPs promoted by Mr Morrison, are also close to the Prime Minister.
  Forum: By Share Code

blacksheep
Posted on: Dec 6 2019, 02:51 PM


Group: Member
Posts: 6,791

Interesting read - opinion piece from Ownership Matters Dean Paatsch on renewed calls from CEO's and media commentators re an urgent need to regulate "powerful proxy" advisers following the recent HVN AGM.

The director's club is febrile, shameless
QUOTE
It is notable that the critics of proxy advisers express no concern over shoddy but favourable sell-side research and the retinue of undisclosed holdings that affect analyst recommendations.

read more - https://www.afr.com/companies/professional-...20191205-p53h3r

  Forum: By Share Code

blacksheep
Posted on: Dec 6 2019, 02:30 PM


Group: Member
Posts: 6,791

Had to chuckle- SYR is used as an example in this article to "promote" another graphite stock - "a little dynamo" - Comet Resources (ASX:CRL) trading at 2.2c
Institutional investors see buying opportunities in graphite sector
By Trevor Hoey. Published at Dec 6, 2019
Credit Suisse has recently made a move, having taken a 5.2% stake in Syrah Resources as advised on November 22, 2019.
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If the author looked a little deeper into the CS "move" on SYR he would realise the reason CS holding went to 5.23% was as explained below. CS has been doing this for yonks - nothing new. Just goes to show how seriously one should take these kind of articles rolleyes.gif

QUOTE
This afternoon's ann shows CS became a substantial holder again on 22/11/19 - largely by virtue of a couple of large borrows. Parties to the Lending Agreement - Credit Suisse Securities (Europe) Limited and
Regal Australian Equity Fund. Transfer date 22-Nov-2019


QUOTE
Credit Suisse Securities
(Europe) Limited 22-Nov-19 Refer to Annexure F of Notice
Stock borrowed under Master prime brokerage agreement
1,025,000 Common Stock

Credit Suisse Securities
(Europe) Limited 22-Nov-19 Refer to Annexure F of Notice
Stock borrowed under OSLA
1,879,000 Common Stock


UBS comments in AFR (include SYR). UBS is another insto who has been shorting SYR
"The lithium and graphite producers Orocobre, Galaxy and Syrah are “too hard” on account of falling commodity prices according to lead resources analyst Glyn Lawcock."
  Forum: By Share Code

blacksheep
Posted on: Dec 6 2019, 01:40 PM


Group: Member
Posts: 6,791

SOL AGM today - Stephen Mayne (serial pest according to Gerry Havey) was at the meeting - his comments - https://twitter.com/MayneReport

QUOTE
What is it about billionaires & the way they chair public company AGMs? Gerry Harvey was worst ever last week and his mate Rob Millner was terrible today. Promised all general questions after formal business then broke the promise by shutting meeting after 10mins with 6 in queue.

Rob Millner will cop some serious negative PR for the dictatorial and disrespectful way that he ran that Soul Patts AGM. Treated legitimate climate questions with disdain and just shut the meeting prematurely on some dodgy show of hands. Multiple shareholders didn’t get to speak.

Appalling performance by Soul Patts chair Rob Millner to close the meeting prematurely because he didn’t like anti coal questions. Never seen this before

“You people are denying 15% of your fellow humans power,” says cranky chair.

Cranky Soul Patts chair Rob Millner is getting quite a few climate change questions after the formal business has all been dealt with. Should they sell their New Hope Coal stake, which is currently worth $800m.

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  Forum: By Share Code

blacksheep
Posted on: Dec 6 2019, 10:34 AM


Group: Member
Posts: 6,791

Back trading - updated chart.
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  Forum: By Share Code

blacksheep
Posted on: Dec 6 2019, 10:02 AM


Group: Member
Posts: 6,791

Glencore sees higher zinc, oil production by 2022
Published: Dec 3, 2019
QUOTE
Zinc production is also expected to rise in the period, with production peaking at around 1.4 million metric tons in 2021, and then falling to around 1.2 million tons in 2022, the company said. Production in 2019 is expected to be around 1.1 million tons..

https://www.marketwatch.com/story/glencore-...2022-2019-12-03
  Forum: Macro Factors

blacksheep
Posted on: Dec 6 2019, 10:00 AM


Group: Member
Posts: 6,791

Glencore sees higher zinc, oil production by 2022
Published: Dec 3, 2019
QUOTE
Glencore PLC (GLEN.LN) said Tuesday that it expects zinc and net oil equivalent production to be higher by 2022 while copper production is expected to modestly decline.

The Anglo-Swiss commodity trading and mining company said net oil equivalent production is set to reach a range of between 12.3 million barrels and 13.1 million barrels in 2022. This compares with a range of between 5.3 million and 5.7 million barrels for 2019.

Zinc production is also expected to rise in the period, with production peaking at around 1.4 million metric tons in 2021, and then falling to around 1.2 million tons in 2022, the company said. Production in 2019 is expected to be around 1.1 million tons.

For 2019, coal guidance was reduced by 5 million tons to between 138 million and 142 million tons, and the company expects largely flat production in 2022, offering a range of between 135 million and 145 million tons.

The company expects a modest copper-production decline over the outlook period, primarily reflecting the transition of Mutanda facility in Congo to care and maintenance in the fourth quarter. For 2019, Glencore guides for a production of around 1.4 million tons. This is expected to fall to around 1.3 million to 1.4 million tons in 2022.

https://www.marketwatch.com/story/glencore-...2022-2019-12-03
  Forum: Macro Factors

blacksheep
Posted on: Dec 6 2019, 09:54 AM


Group: Member
Posts: 6,791

LIVE FUTURES REPORT 05/12: LME zinc price fails to hold gains in 1.3% dip, turnover tops complex
QUOTE
The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday December 5, with the metal failing to hold on to recent gains while volumes traded topped the complex.

Zinc’s outright price fell to an intra-morning low of $2,217.50 per tonne, a loss of 1.3% against Wednesday’s closing price of $2,246 per tonne.

read more - https://www.metalbulletin.com/Article/39075...ps-complex.html
  Forum: Macro Factors

blacksheep
Posted on: Dec 6 2019, 09:49 AM


Group: Member
Posts: 6,791

LG Chem and GM to invest $2+B for Ohio battery factory, Cadillac EV on tap
Charles Benoit
- Dec. 5th 2019
QUOTE
In July it was announced that LG Chem was working on a potential new billion-dollar US battery cell factory for electric cars. Today in a security filing in South Korea, LG Chem confirmed that investment, and that GM will invest another billion.

Reuters reports that the location is expected to be in the area of Lordstown, Ohio, where GM (pictured in Detroit) recently sold its factory to an EV startup affiliated with Workhorse. This follows news earlier this week that Piedmont Lithium received an important federal permit to proceed with its lithium mine in Gaston County, North Carolina — the second in North America. Looks like Interstate 77 will be America’s hot new lithium corridor.


read more - https://electrek.co/2019/12/05/lg-chem-and-...attery-factory/
  Forum: Investment Discussion

blacksheep
Posted on: Dec 6 2019, 09:46 AM


Group: Member
Posts: 6,791

BATTERY RAW MATERIALS MARKET REPORT 29/11: Cobalt sulfate discount narrows, hydroxide prices fall
An overview of the battery raw materials markets and their latest price moves from the past week
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  Forum: Investment Discussion

blacksheep
Posted on: Dec 6 2019, 09:44 AM


Group: Member
Posts: 6,791

FIRB CONDITION SATISFIED FOR PROPOSED ACQUISITION
OF TRANSIT SYSTEMS GROUP

QUOTE
SeaLink Travel Group Limited (SeaLink) (ASX:SLK) confirms satisfaction of the FIRB Approval
condition contained in the Securities Sale Agreements for the acquisition of Transit Systems Group.
On 8 October 2019 SeaLink announced that it had entered into binding agreements (‘Securities Sale
Agreements’) subject to certain conditions precedent to acquire 100% of Transit Systems Pty Ltd,
Tower Transit Group Ltd and their broader group of entities (including trusts) (together the ‘Transit
Systems Group’). Part of the agreed consideration for the proposed acquisition includes SeaLink
issuing 72,869,945 SeaLink shares to nineteen vendors (‘Scrip Vendors’) (representing approximately
33.4% of the total SeaLink shares on issue immediately following completion of the transaction).

SeaLink advises that Transit Systems Group has provided written confirmation from the Foreign
Investment Review Board (FIRB) that the Australian Government has no objection under the Foreign
Acquisitions and Takeovers Act 1975 (Cth) (FIRB Approval) to acquisition by Scrip Vendors who are
foreign persons of up to 45% of the issued capital of SeaLink.

Completion of the proposed acquisition remains subject to certain customary conditions including
approval of SeaLink’s shareholders at the upcoming general meeting to be held at 9.30am Adelaide
time on Wednesday 18 December 2019. Details of the proposed acquisition, resolutions and other
information related to the proposed general meeting, together with instructions for voting, have been
previously announced and sent to SeaLink shareholders.

The Directors of SeaLink recommend that shareholders vote in favour of the proposed acquisition, in
the absence of a superior proposal and subject to the Independent Expert continuing to conclude that
the proposed acquisition is fair and reasonable (or not fair but reasonable) to SeaLink shareholders
who are not associated with the Scrip Vendors.

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  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 06:54 PM


Group: Member
Posts: 6,791

Trending higher on gold prices - reached a new 12 month high @ $1.04. All time high was $4.05 back in 2012
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  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 06:39 PM


Group: Member
Posts: 6,791

Another useless hypothetical point. rolleyes.gif
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 06:35 PM


Group: Member
Posts: 6,791

The National Hydrogen Roadmap provides a blueprint for the development of a hydrogen industry in Australia.

Download the National Hydrogen Roadmap
Executive summary [pdf · 1mb]
Main report [pdf · 5mb]
Main report - accessible text version [html · 1mb]
https://www.csiro.au/en/Do-business/Futures...ydrogen-Roadmap
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 06:17 PM


Group: Member
Posts: 6,791

extract from the ASIC report mentioned in previous post - full verion - https://download.asic.gov.au/media/5399325/...cember-2019.pdf

QUOTE
Promotion of the IPO
Our concerns
99 We were of the view that many public promotional activities during the IPO
period were predominantly designed to target secondary market investors.
These materials tend to exaggerate prospects, lack balance against
investment risks, are inconsistent with prospectus disclosures and may be
misleading.

100 We were concerned that companies do not always have oversight of public
promotional activities and that both companies and lead managers may have
inadequate processes to ensure the accuracy and compliance of statements in
public promotional material.

What we found
101 In relation to the public promotional strategies of mining IPOs, we found
that:

(a) the promotional strategy is often unclear and variable, with some
stakeholders taking a ‘spray and pray’ approach;

(b) the delineation of the responsibilities of the company, lead manager and
other professional promoters is usually unclear; and

© while the timing of public promotional activities between mining
companies may vary, it was apparent that offers had often been
allocated when public promotional activities commenced. Our
interviews confirmed that activities were often targeted to promote
trading on secondary markets rather than to promote the IPO to
prospective IPO investors.

102 Company directors and lead managers usually commented that the ability to
generate positive information, or news flow, in the short term following
listing was key to positive share price performance and a fundamental part of
the IPO process.

103 The public promotional methods used by companies and lead managers
included engagement of professional public relations firms, setting up social
media accounts, email ‘blasts’ from investor forums and platforms, and the
use of quasi-news platforms with ‘sponsored content’.

104 We found that lead managers would often engage public promotional
services on behalf of the company and that directors did not always have
oversight of the final version of public promotional material, which
increased the risk of misleading information being distributed to potential
investors.

Better practice recommendations
D4 Directors should review and approve all public messages made on
behalf of the company during and after the IPO process. Statements
made, even to sophisticated investors, may require later correction if
they are inconsistent with prospectus disclosures or are misleading.

D5 Companies should implement compliance processes for drafting,
reviewing and publishing promotional statements and documents.
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 06:11 PM


Group: Member
Posts: 6,791

some good news .

All the Banks rallied on the RBNZ review - Final decisions in RBNZ capital review still require $20b increase for banks but composition of capital is softened and banks get 7 years instead of 5 to adapt
- https://www.interest.co.nz/banking/102858/f...nks-composition

Seems there may be another WBC scandal about to be revealed, according to Investigative Journalist Anthony Klan
QUOTE
Anthony KlanVerified account
@Anthony_Klan
****SCOOP****
Massive new Westpac scandal. Billions gouged from 950,000-plus BT superannuation members over decade. Forensic investigation.
Details soon...

https://twitter.com/Anthony_Klan
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  Forum: By Share Code

Poll: The Banks
blacksheep
Posted on: Dec 5 2019, 06:04 PM


Group: Member
Posts: 6,791

Banks rallied on the RBNZ review - Final decisions in RBNZ capital review still require $20b increase for banks but composition of capital is softened and banks get 7 years instead of 5 to adapt
- https://www.interest.co.nz/banking/102858/f...nks-composition
extract
'Á modest 'win' for the banks'

QUOTE
In a note on the Reserve Bank's capital decisions, Australian-based UBS banking analysts note the key elements from last year's proposals remain intact, including increasing New Zealand bank capital ratios materially, towards the strongest in the world.

"However, there is some moderation to what we considered more excessive proposals. This provides a modest 'win' for the banks in a very challenging environment," UBS says.

"While the RBNZ retained its 16% Tier 1 requirement, we believe there are three main changes: (1) The transition period was extended from five to seven years. The first phase (increase RWA scalar) will begin in July 2020, rather than January 2020; (2) Increase in the proportion of Additional Tier 1 (AT1) that may contribute to Total Tier 1 capital to 2.5% of RWA, from 1.5% in the 2018 proposal; (3) Further, the definition of AT1 has been widened to include Redeemable, Perpetual Preference-Shares (RPPS), rather than just Non-Redeemable Preference Shares in the 2018 proposal."

"Importantly, this increases the attractiveness of ATI as marketable securities, with the RBNZ stating that the original AT1 proposals 'would not appeal to either equity or debt investors and… would not be issued by banks'. In effect, this implies that the amount of CET1 the banks will need to hold falls to >13.5% compared to >16% in the 2018 proposal," UBS says.

"Calculating the exact capital shortfall for both the New Zealand business and the Australian (Level 1) operations is complex, and some inputs are not publicly available. We expect each of the major banks to make announcements today regarding their initial estimates of their capital shortfalls and the potential for issuing AT1 securities. However, we expect the NZ CET1 requirements to be substantially lower than their original estimates (ANZ NZ$6-8bn; CBA NZ$3bn; NAB NZ$4-5bn; WBC NZ$3.5-4.0bn)."

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  Forum: Investment Discussion

blacksheep
Posted on: Dec 5 2019, 02:50 PM


Group: Member
Posts: 6,791

Broke through $5.00 briefly. SP currently $4.95. Could be a number of brokers analysts talking it up

Is PointsBet Holdings worth a bet?
https://www.livewiremarkets.com/wires/is-po...ngs-worth-a-bet

Bell Potter has lifted their target price to $6.25. Important to remember .......
QUOTE
Bell Potter Securities Limited is acting as lead manager, bookrunner and underwriter to the Capital Raising.

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  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 01:28 PM


Group: Member
Posts: 6,791

QUOTE
if it was as crash hot as some believe they would have been a lot closer to finance


Cart before the horse once again - clear you don't understand the process. I've explained it to you a number of times - don't propose to do so again - wasted time. Probably get a better understanding talking to a brick wall. Round and round in circles we go.

What you said was first was

QUOTE
IF!!!!! MNS was half as good as the rampers believe it to be you WOULD have finance company's kicking in the door for a chunk of MNS,


What I then provided was confirmation that AL had taken "a chunk" - a 4.98% equity holding in MNS @ 37c
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 12:59 PM


Group: Member
Posts: 6,791

Well done smile.gif
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 12:44 PM


Group: Member
Posts: 6,791

Isn't that what I said? You really need to read more carefully. All you are doing is raising questions, when proven wrong, you raise another, when that one's proven wrong you come back full circle - repeat.....repeat....repeat - parrot....parrot...parrot. You posts lack SUBSTANCE. We know MNS isn't fully funded currently

QUOTE
Not a total finance package, but then this investment was made in 09/18 prior to MNS's Townsville Feasibility Study being released in 10/19 - so they've committed a fair chunk in the early stages without knowledge of what was in the FS. At the time they indicated they would be a "committed partner to Magnis and helping drive the Company’s growth strategy"


Do you really expect AL, or anyone else, to stump up whatever it will cost for the first stage of IMP3TSV - hundreds of millions of dollars - without a feasibility study, without planning/development approval in place?? Get real. We've come full circle once again in this discussion again - you're just wasting time

There are plenty of stocks out there you might want to discuss/invest in if MNS is not your cup of tea. I don't hold shares in MNS, but it is on my watchlist
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 11:20 AM


Group: Member
Posts: 6,791

Calix-led Consortium to be awarded €16m (A$26.5m) in funding for the commercial scale-up of its CO2 capture technology, as the EU declares a “climate
emergency”


QUOTE
Sydney, Australia | December 5, 2019 – Calix Limited (ASX: CXL ‘Calix’ or ‘the Company’) is pleased to
announce that a European Consortium it has assembled is to be awarded €16m from the European Commission.
The grant will fund the construction of a 100,000 tonne per annum (TPA) input capacity processing plant that
aims to demonstrate, at commercial scale, the ability to radically reduce CO2 emissions from the lime and cement
industries – large global emitters of carbon dioxide.

The funding for the substantial scale-up of Calix’s LEILAC (Low Emissions Intensity Lime And Cement)
technology, based upon Calix’s patented direct separation “calcination” (kiln), is highly-significant and comes just
days after the European Parliament declared a climate emergency, ratified a reduction target of 55% of
greenhouse gas emissions by 2030, and committed to net zero CO2 emissions by 2050. Commencement of the
funding is subject to finalising standard agreements with the European Commission (“Grant Agreement”) and
consortium members (“Consortium Agreement”) over the next few months.

The Calix-led consortium commercial demonstration project will be known as LEILAC 2, and is a €25m project
with €16m provided by the Horizons2020 program and €9m in industry contributions. Calix will commit up to €3m
in resources, post front-end engineering and design, into the construction phase from around 2022. LEILAC 2
will be around four times the size of LEILAC 1
, a 25,000 TPA capacity CO2 separation pilot plant currently
undergoing testing at the HeidelbergCement facility in Lixhe, Belgium. LEILAC 2 will be hosted on a European
cement facility and the project, including design, construction, commissioning and extensive test runs, has an
expected completion date of 2025.


Joining Calix and HeidelbergCement in the LEILAC 2 consortium are industry partners Cimpor-Industria De
Cementos, SA., Lhoist, Port of Rotterdam and IKN GmbH, as well as research partners including the Centre for
Research and Technology Hellas (CERTH), the Federal Institute for Geosciences and Natural Resources (BGR),
Polytechnic University of Milan (Polimi), ENGIE Laborelec and the Royal Belgian Institute of Natural Sciences.
LEILAC 2 project objectives include:

• Construction of a 100,000 TPA demonstration plant that will aim to capture around 20% of a full-scale
cement plant’s process CO2 emissions, equivalent to 100% of a large lime kiln’s process emissions, for
minimal energy penalty other than compressing the CO2.

• Successful demonstration of up to a four-times scale-up of the technology for around twice the capital cost
of the LEILAC 1 facility, confirming cost-efficient CO2 capture for the lime and cement industries.

• Prove the effective retrofit and full integration of the technology into a cement plant’s operations.
Demonstrate the efficiency and stability of the complete cement-kiln process and high-quality clinker output
when integrating Calix’s CO2 separation technology.

• Showcase a modular, replicable, retrofit design for accelerated commercial deployment that delivers flexible
scalability for varying operation size and configurations, agility to adopt the technology and decrease
emissions progressively, and a broad range of options for captured CO2 utilisation and sequestration. These
factors can eliminate the need for large capital expenditure and significant asset write-downs.

• Demonstrate the operation of direct separation kilns for lime and cement using renewable sources of energy
such biomass and renewable sources of electricity, bringing the running of the plant to net zero CO2
emissions and enabling a move away from high-carbon emitting gas or coal-fired plants.

• Enable lime and cement kiln processing plants with a cost-efficient solution to effectively use intermittent
renewable energy sources, with rapid ramp up/down rates leveraging electricity and load balancing
techniques for grid stability.

Phil Hodgson, Calix’s CEO said “We are thrilled to announce the successful application for funding for a
significant scaling up of the LEILAC project from the European Commission and our industry partners. We believe
Calix’s direct separation kiln technology platform has the potential to play a transformational role in helping the
cement and lime industries reduce CO2 emissions and achieve net zero emissions by 2050, in line with the recent
decision by the European Parliament to legislate this ambitious target.”

Jan Theulen, Director Alternative Resources at HeidelbergCement said “Two thirds of a cement plant’s CO2
emissions comes unavoidably from processing limestone in traditional kilns. However, the LEILAC 1 project has
already demonstrated it’s possible to capture these CO2 emissions. This capability, when fully tested and
commercialised, will help our industry achieve its emissions reduction targets. We are very pleased to continue
our strong partnership with Calix and the consortium members as we work together to advance and expand the
development of this unique technology.”

Calix and HeidelbergCement will be hosting the ‘Innovation in Industrial Carbon Capture Conference 2020” in
January 2020 which will bring together the latest knowledge in the industrial application of carbon capture
technology and share key learnings from LEILAC 1 with around 200 delegates. Keynote speakers include highlevel representatives from the European Commission, industry-leading organisations and associations, the
European Climate Foundation, and the German Academy of Science and Engineering.

LEILAC 2 represents a significant and substantial move toward the commercialisation of Calix’s patented direct
carbon separation technology at the industrial level on a significant operational scale. Importantly, the consortium
will involve a seamless collaboration of large-scale industry

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  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 11:11 AM


Group: Member
Posts: 6,791

A bit of speculation in today's AFR
Paragon: Adriatic Metals will probably get taken over
Vesna Poljak

QUOTE
Hedge fund Paragon has opined in its monthly update about a long position, Adriatic Metals, and why it thinks it will get taken over by logical acquirer Sandfire Resources.


QUOTE
Despite the stock breaking all-time highs (currently trading at $1.35 a share), in our view, there remains considerable upside in Adriatic." Paragon concludes Adriatic’s net present value is $3.60 a share, "un-risked", based on current delineated resources. Assuming first production and cashflows, NPV rises to more than $5 a share.


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  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 11:03 AM


Group: Member
Posts: 6,791

Most of us know this - what we want to know is why they are allowed to slip through sadsmiley02.gif

ASIC reckons penny stock mining floats are riddled with conflicts
Vesna Poljak
QUOTE
The Australian Securities and Investments Commission concluded that mining and explorarion floats at the microcap end of the market are riddled with conflicts than can lead to poor investor outcomes.

Some of its key findings:

Retail investors who don't broke through a lead manager get limited access to IPOs.

"The prevalence of conflicts of interest is a significant concern".

Lead managers may act for both the company and investor clients, hold shares or even board seats.

Presentations and marketing methods "are often subject to substandard compliance controls".

IPO structures are too short-term focused, at odds with investment horizons more appropriate for following through on exploration.
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 11:02 AM


Group: Member
Posts: 6,791

Most of us know this - what we want to know is why they are allowed to slip through sadsmiley02.gif

ASIC reckons penny stock mining floats are riddled with conflicts
Vesna Poljak
QUOTE
The Australian Securities and Investments Commission concluded that mining and explorarion floats at the microcap end of the market are riddled with conflicts than can lead to poor investor outcomes.

Some of its key findings:

Retail investors who don't broke through a lead manager get limited access to IPOs.

"The prevalence of conflicts of interest is a significant concern".

Lead managers may act for both the company and investor clients, hold shares or even board seats.

Presentations and marketing methods "are often subject to substandard compliance controls".

IPO structures are too short-term focused, at odds with investment horizons more appropriate for following through on exploration.
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 10:53 AM


Group: Member
Posts: 6,791

QUOTE
Blacksheep, you are correct, its ALL hanging on Finance, but so far no one wants to get in to bed with MNS


I thought you said you read all of MNS's announcements - perhaps you missed this one?

QUOTE
AL Capital to invest $11.1m at $0.37 per share for a 4.98% equity holding in Magnis

Placement made at 4% premium to the 15 Day VWAP of $0.356


Not a total finance package, but then this investment was made in 09/18 prior to MNS's Townsville Feasibility Study being released in 10/19 - so they've committed a fair chunk in the early stages without knowledge of what was in the FS. At the time they indicated they would be a "committed partner to Magnis and helping drive the Company’s growth strategy"
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 10:22 AM


Group: Member
Posts: 6,791

Buying iron ore is getting more like shopping on Amazon
Bloomberg News | December 4, 201
QUOTE
The world’s biggest iron ore miners are looking for novel ways of satisfying their customers and protecting market share in the $150 billion global industry.

From selling through a mobile app to portside sales, the likes of BHP Group, Rio Tinto Group and Vale SA are looking for an edge with buyers of the steelmaking raw material in China, the top customer. The need to retain their business is becoming ever more critical amid forecasts that the market is around its peak.


READ MORE - https://www.mining.com/web/buying-iron-ore-...ping-on-amazon/
  Forum: Macro Factors

blacksheep
Posted on: Dec 5 2019, 10:15 AM


Group: Member
Posts: 6,791

PANORAMIC BOARD UNANIMOUSLY RECOMMENDS REJECTION OF IGO TAKEOVER
OFFER

Highlights
QUOTE
• Panoramic Directors unanimously recommend that shareholders REJECT the
unsolicited, highly conditional off-market takeover bid by IGO
• Target’s Statement to provide detailed reasoning for this recommendation
• Independent Expert’s Report from KPMG to be provided when available and the
Panoramic Board will review its recommendation at that time
• To REJECT the IGO Takeover Offer, Panoramic shareholders should ignore all
documents sent by IGO


https://www.asx.com.au/asxpdf/20191205/pdf/...9qzbw85045t.pdf

ENTITLEMENT OFFER
QUOTE
Key Details
• Conditionally underwritten 1 for 6 accelerated pro-rata non-renounceable
entitlement offer to raise approximately $31 million (after costs)
Offer price of $0.30 per New Share represents a 16.7% discount to last closing
share price of $0.36

https://www.asx.com.au/asxpdf/20191205/pdf/...9r4zm2lrp5k.pdf

INVESTOR PRESENTATION
https://www.asx.com.au/asxpdf/20191205/pdf/...9r6w28yppl1.pdf
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 10:02 AM


Group: Member
Posts: 6,791

Rio Tinto to curtail operations at Richards Bay Minerals
04 December 2019

QUOTE
Rio Tinto has decided to curtail operations at Richards Bay Minerals (RBM) in South Africa to ensure the safety
and security of its employees due to an escalation in violence in the communities surrounding the operations.

There has been an escalation of criminal activity towards RBM employees and one was shot and seriously
injured in the last few days. As a result, all mining operations at RBM have been halted and the smelters are
operating at a reduced level, with a minimum number of employees now on site. Construction of the Zulti South
project has also been temporarily paused.

Bold Baatar, chief executive, Energy & Minerals said “The safety of our people is Rio Tinto’s key priority and we
have taken decisive action to stop operations to reduce the risk of serious harm to our team members.

“We are in discussions with the local communities, regional and national governments, and the police in order to
find a way to address the safety and security issues. Our goal is to return RBM to normal operations in a safe
and sustainable way. We would like to acknowledge and thank the police and authorities for their support.”

Rio Tinto will contact customers to discuss how to minimise any potential disruptions. Titanium dioxide slag
production for 2019 is now expected to be at the bottom end of 2019 guidance of between 1.2 and 1.4 million
tonnes.

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  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 09:58 AM


Group: Member
Posts: 6,791

Vale aims to boost nickel production by 70%
Cecilia Jamasmie | December 4, 2019 |
QUOTE
Brazilian mining giant Vale (NYSE:VALE) said on Wednesday it would hike nickel production by about 70% in coming years to 360,000 tonnes a year, mainly by expanding in Indonesia.

The Brazilian mining giant plans to exit its troubled New Caledonia assets but still aims to ramp up nickel output ahead of rising demand for electric batteries, executives said.


QUOTE
The plan for now is to shut the nickel refinery and stop cobalt production, which will result in a yet to be specified number of job losses, according to RNZ.

Vale said in November that it would write down its New Caledonia mine and incur a non-cash impairment charge of about $1.6 billion in the fourth quarter.

Nickel is the only base metal to have recorded gains this year, but prices for the key ingredient in stainless steel and electric vehicle batteries have begun to fall on concerns that an expanded trade war between the US and several countries including China, Brazil, Argentina and France, may dent demand.

Last week, the metal hit its lowest in more than four months and posted its steepest monthly loss (18%) in eight years on faltering steel output from top producer China and waning impact from an Indonesian ore export ban.

https://www.mining.com/vale-puts-new-caledo...on-up-for-sale/
  Forum: Macro Factors

blacksheep
Posted on: Dec 5 2019, 09:48 AM


Group: Member
Posts: 6,791

Is this a first - an ASX listed company suing the regulator?

Commencement of Federal Court proceedings against the ASX

QUOTE
Melbourne, 5th December 2019: iSignthis Limited (ASX: ISX | FRA: TA8) (“the Company”) has commenced
legal proceedings against ASX Limited in the Federal Court of Australia to challenge the decisions made by
the Australian Securities Exchange (“ASX” or “the exchange”) to suspend, and not reinstate, the Company’s
shares for quotation on the exchange.

The Company is seeking, among other things, orders which require the ASX Ltd to lift the suspension and
reinstate ISX’s shares for quotation on the exchange.

ISX is concerned that investors are being denied the opportunity to trade their shares.

ISX is also concerned that the continuing suspension could harm the Company’s standing with investors,
customers and suppliers.

The Company regrets that it has been necessary to seek judicial intervention.
“We have taken this step in order to lift the suspension of ISX’s shares. We are acting in the interest of our
shareholders, as they have been denied the basic right to trade our shares for too long,” said the
Company’s Chairman, Tim Hart.
The Company’s Chief Executive Officer, John Karantzis, said “the company has responded promptly to each
request for information from the ASX.”

“We have answered scores of questions and provided more than 2000 pages of confidential documents
dating back almost three years,” said Mr Karantzis. “We have been patient and acted in good faith, but the
Company’s shares have been suspended for nine weeks.”

Since the Company’s shares were suspended, ISX has answered diverse questions from the ASX such as:

• Why a bundled service is billed on a bundled basis;
• Why it selected a particular European bank to hold client funds;
• How much did a change to Apple’s privacy settings last year affect revenue;
• What website names are used by a customer;
• How its revenue is broken down by country; and
• Whether or not it offers services for initial coin offerings (ISX does not).

The Company believes that the interactions with the ASX during the last nine weeks raise issue of
procedural fairness and good faith, as well as a substantive question about the actual reason for the
suspension.

A copy of the Company’s Statement of Claim is attached in the Appendix.
  Forum: By Share Code

blacksheep
Posted on: Dec 5 2019, 09:40 AM


Group: Member
Posts: 6,791

Maybe you need to read and understand the various processes/stages a mining company needs to go through, and the length of time each process takes.

Your suggestion MNS has not achieved anything in three years is therefore ridiculous - they have taken their projects through a number of these processes. Whether or not they achieve the final desired outcome is yet to be seen. That's why the SP is where it is. The market is waiting for confirmation they are able to progress to the next level - FUNDING - in a difficult climate. Your inability to understand this simple concept is astounding.

Are you seriously suggesting any company could get a project up and running/producing with cash flowing through it's coffers in 3 years. In the case of MNS's graphite project the Tanzanian government threw a hand grenade into many a miners ambitions in that country - it delayed progress on those projects by circa 18 months.

QUOTE
What studies have to be undertaken for a new mining project?
There are a number of studies that miners must complete before they can get their project off the ground and these can be considered as the major milestones that companies need to achieve to demonstrate the progress being made. Share prices are particularly sensitive to these studies as each one de-risks the project. Here are some of the major studies (not necessarily in order) that miners must complete to progress their project to the construction stage:

Desktop or conceptual studies.
This is one of the first studies undertaken. These studies are based around benchmark and industry data, as well as any historic information that has been collected about the site.
Environmental and social impact assessments. These are used to outline how a project would impact the local community and the environment, including items like the effect on local employment and how the area will be reclaimed once the mine has been exhausted. These are integral to gaining government and community support for a mine.

Scoping studies.
These studies outline the different options (usually three or four) that could be considered for the project to try and identify the optimum operational plan to get the most out of the mine and the chances of success. Ultimately, these studies must prove that further work on the site is warranted.

Preliminary economic assessment.
This is the first snapshot of the economic potential of a project, estimating the financial outcome for the different operational plans that are being considered and proving there is a profitable and viable option among them.

Pre-feasibility study.
The pre-feasibility study is one of three studies that can be considered the most important for a company looking to open a new mine. The pre-feasibility study will only use measured or indicated mineral resources and collects all of the work done so far to outline all the elements for each proposed plan. These include how the mine and plants will be designed, the rate of production, recovery rates, what labour is needed as well as operational and capital expenditure projections.

Feasibility study.
This is a more detailed and accurate version of the pre-feasibility study, which narrows the options being considered into the proposal that the company will take forward, defining the route that the company has opted for. Miners start to seriously consider the financial requirements for the project and start preparing where it will source the necessary funding before moving on to the next and most important study.

Definitive/bankable feasibility study.
This is what all the previous studies build up to. This is the final and most detailed version of the feasibility studies and is regarded as accurate enough to take forward. This is the key document for any miner that does not already have the funds needed to develop the project, as lenders base their decisions on this study more than anything else. This will also include other elements such as any commercial agreements (like offtakes) that have been signed.

Once a mining company has identified a site to set up an operation, the lifecycle of the mine begins


Projects mining asset life cycle - page 26 & 27 https://assets.kpmg/content/dam/kpmg/pdf/20...er-value-v3.pdf
Expansion
1-2 years

Exploration
2-10 years

Evaluation
3-6 years

Development
1-3 years

Production
10-50 years

Closure
1-10 years
  Forum: By Share Code

blacksheep
Posted on: Dec 4 2019, 09:03 PM


Group: Member
Posts: 6,791

QUOTE
Would you so kind as to point out to me any thing they HAVE achieved in the last three years, thanks, PILOTS.


You want me to go through the last three years and give you a list???

You must think I've got nothing better to do than answer your silly questions

How about you do your own research - i.e.read their announcements - it's all there

  Forum: By Share Code

blacksheep
Posted on: Dec 4 2019, 08:51 PM


Group: Member
Posts: 6,791

QUOTE
Its feel goods like this that have amounted to nothing,


The MOU back in December 2017 if you read it - other than the headline that is - was of a very preliminary nature - "laying the foundations" stage. An MOU is also a preliminary document .https://drive.google.com/file/d/11O7vKTvasjOLpwECwOuYOBN-FGkfWJoo/view

This correspondence dated January 2019 from the German Federal Ministry for Business and Energy to the President of the German Bundestag - und Energie- https://www.bmwi.de/Redaktion/DE/Parlamenta...ionFile&v=2 - suggests LiStrom is still active and part of the European Battery Alliance. Whether MNS is still involved in LiStrom I' cannot be sure since there haven't been any updates for a while

QUOTE
BASF, Wacker Chemie, Evonik, Heraeus, SGL Group, Sonnen, BMW, Daimler, Volkswagen, Elring Klinger, Continental, Bosch, Siemens, Stihl, Honda RuD Deutschland, Streetscooter, AmbiBox, Viessmann, Ifu Institut für Informatik Hamburg, Verband des Maschinen und Anlagenbaus, Verband der Deutschen Elektrotechnik und Elektro Informationstechnik, Bundesverband Energiespeicher, Listrom, KLiB, Customcells, EAS Batteries, Liacon, Litarion, Varta, Hoppecke, BatteriemontageZentrum, Freudenberg, Manz, MW Group, Thyssen Krupp, Coperion, Akasol, Innogy, Deutsche Energie Agentur, Fraunhofer ISC, Fraunhofer ICT, Münster University, EIT Raw Materials, AMPS Power, Deutsche Rohstoffagentur und Aurubis.


A couple of recent developments on Germany's battery manufacturing aspirations - not suggesting MNS is [u]currently involved in any of these[/u] but they were previously

New €500m German battery institute hit by ‘scandal’ over site decision
18 Jul 2019
QUOTE
The new centre will be located at the MEET battery-research facility at the University of Münster, with a key participant being RWTH Aachen University. Construction of a building to house the research centre is set to begin by the end of this year and completed by 2022. In addition to the €500m from the German government to establish the centre, the state of North Rhine-Westphalia has pledged an additional €200m.


Sep 7, 2019 - 10:44 pm
Europe’s second battery consortium gets the go-ahead
extract
QUOTE
Although the German Ministry of Economic Affairs has not officially mentioned any names, the German newspaper Handelsblatt has reported that, according to insiders, “several well-known companies” are involved in the second consortium, including German companies BMW, BASF, Varta and BMZ.

https://www.electrive.com/2019/09/07/europe...s-the-go-ahead/

29/11/2019 -PRESS RELEASE -Electric Mobility
Minister Altmaier: "Second battery cell project is underway"
https://www.bmwi.de/Redaktion/EN/Pressemitt...s-underway.html
  Forum: By Share Code

blacksheep
Posted on: Dec 4 2019, 07:40 PM


Group: Member
Posts: 6,791

QUOTE
the fact they to date have NOT achieved one thing they have set out to do


That's got to be the dumbest statement I've read from you yet. Way too silly for me to even comment
  Forum: By Share Code

blacksheep
Posted on: Dec 3 2019, 12:56 PM


Group: Member
Posts: 6,791

Large investor lays out $31 million options hedge against U.S. stock market drop
QUOTE
NEW YORK (Reuters) - [b]Monday’s slide in U.S. stocks prompted at least one large investors to load up big on stock options that would guard against a sharper hit to stocks into the start of next year.[/b]

Shortly after the market opened on Monday, an investor paid about $31 million to buy 16,000 of January put options at the 2,980 level on the S&P 500 Index .SPX, according data from options analytics firm Trade Alert.

The position struck about 4.6% below the market’s current level around 3,124 appears to be hedging roughly $4.8 billion in assets, said Henry Schwartz, president of Trade Alert in New York.

An index put option gives the holder the right to sell the value of an underlying index at a fixed level in the future, thereby offering protection against a slide in the market.

U.S. stocks fell on Monday after President Donald Trump decided to restore tariffs on metal imports from Brazil and Argentina and weak factory activity fanned worries of a slowing domestic economy due to the long-drawn trade war with China.

https://www.reuters.com/article/us-usa-stoc...p-idUSKBN1Y628A
  Forum: Investment Discussion

blacksheep
Posted on: Dec 3 2019, 12:25 PM


Group: Member
Posts: 6,791

No deal @ $34.50, but - "“The Caltex Board is focused on maximising shareholder value and will carefully consider any proposal that is
consistent with this objective
.”
"

QUOTE
Caltex today announces that the Board has concluded that the Proposal undervalues the Company and does
not represent compelling value for Caltex’s shareholders. However, the Caltex Board has offered to provide
ATD with selected non-public information to allow ATD to formulate a revised proposal.

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  Forum: By Share Code

blacksheep
Posted on: Dec 3 2019, 11:44 AM


Group: Member
Posts: 6,791

AustralianSuper stares down shorts on Syrah
QUOTE
Australia's biggest superannuation fund says the investment thesis that attracted it to Australia's most shorted stock remains intact, in a major vote of confidence for struggling graphite producer Syrah Resources.

Syrah shares have fallen by 94 per cent since June 2016 and its ability to outlast rival graphite producers through this year's downturn is largely due to support from AustralianSuper, which owns 16.5 per cent of the company and has acted as its underwriter and lender.

https://www.afr.com/companies/mining/austra...20191126-p53ed4

A bit risky for a Super company, IMHO, but other large super funds are moving into this area as the big banks appear to be retreating. Hopefully it works out.for the Super Funds and their members

QUOTE
It was the first time AustralianSuper had issued a convertible note to a listed company


Portfolio Manager for Australian Super is Luke Smith - formerly of Canaccord Genuity. Smith was very pro SYR back in the days he was with of Canaccord Genuity. Along with Credit Suisse tCannacord gave some lofty SP targets. Canaccord Genuity, if I recall rightly, took part in an early CR's back in 2013 - Credit Suisse was the lead broker in that raise. Some of his early musings - https://www.livewiremarkets.com/contributors/luke-smith. The Asmet MOU of course never materialised .

As suspected, Australian Super has been doing some pretty serious averaging down

QUOTE
While it paid as much as $6.54 for Syrah shares in 2016, Bloomberg data suggests AustralianSuper's stake in Syrah was bought at an average price of 73¢. Syrah was fetching 35¢ on Monday.


Luke Smiths comments in AFR seem to have stirred up some interest in SYR - on a pretty bad day all round on the stock market SYR is up 4.93%
Total short positions are down - as at 26/11/19 15.60%
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  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 07:44 PM


Group: Member
Posts: 6,791

NOTE - Name Change to LOTUS RESOURCES LIMITED - LOT

Appears the Malawi government have imposed additional obligations be met prior to consent being granted for the sale of PDN's idled Kayelekera project
2 December 2019
QUOTE
UPDATE ON CONSENT FOR KAYELEKERA SALE

extract
QUOTE
Paladin has now received advice from the Minister of Natural Resources, Energy and Mining of
additional obligations to be met prior to consent being granted. These include the provision of
further tax reporting information, corporate social responsibility and environmental assurances
and responses to labour related queries.


Paladin has provided information in response to this request and will continue to work
expeditiously to compile any remaining information in order to facilitate Government consent as
soon as possible. Once Government consent is received, the completion of the sale remains
subject to customary terms and conditions, including Reserve Bank of Malawi approval which is
expected to follow Government consent

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  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 07:32 PM


Group: Member
Posts: 6,791

Patersons analyst had 663k reasons to love iSignthis
QUOTE
From July 30 to August 29 this year, he increased his price target on the stock by 381 per cent. His email reaffirming his buy recommendation and $2.07 per share valuation was hitting inboxes a good 30 minutes after the stock was suspended from trade on October 2. Where it remains.

“The analyst owns shares in ISX”, was Patersons’ disclosure on Jacobs’ research. And they weren’t kidding. The Caulfield South resident has 662,800 shares to his name. Those babies were worth $709,196 at their last outing, $1.37 million by his reckoning but, in due course, probably zero. Cents in the dollar at best. And all that backbreaking tyre-pumping for nought. The indignity!

read more - https://www.afr.com/rear-window/patersons-a...20191201-p53ftw

Another example why one should take broker recommendations with a grain of salt
  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 07:01 PM


Group: Member
Posts: 6,791

FMG breaks through the $10 mark for the first time since May 2008

Iron ore -0.7% to $US87.46 a tonne so what is the reason for FMG's rising SP? According to Citibank

QUOTE
Citibank itself cited the widening disparity between iron ore prices and FMG’s share price action as a potential problem for the pure-play miner. Peaking iron ore prices and peak Chinese steel output potentially further compounds this issue.

FMG’s potential dividend is the final piece of this bearish puzzle, says Citibank. With the investment bank noting that a large dividend payment around the US$0.96 per share mark in FY20 – equating to a dividend yield of 14.8% – could result in a significant ex-dividend share price reversal.

In saying that, Citibank expects this yield to moderate significantly in FY21 and FY22 – as potentially weaker iron ore prices lead to weaker top and bottom-line figures.

For reference, FMG paid a total of $1.14 per share in dividends during FY19.

In line with all this, Citibank currently has a neutral rating and a bearish share price target of $8.50 on FMG.

https://www.ig.com/au/news-and-trade-ideas/...e-highs--191127

Total short positions as at 26th November, 2019 = 4.92%
https://www.shortman.com.au/stock?q=fmg

Fortescue Metals Group stock rally sends Andrew Forrest’s stake beyond $10b
https://thewest.com.au/business/mining/fort...-ng-b881399260z
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  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 03:31 PM


Group: Member
Posts: 6,791

Broker upgrade target price - FWIW.

Important to know that UBS was of course the sole underwriter and lead manager of NWH's placement last week. As seems to be normal practice, these analysts come out with favourable ratings/targets, while probably selling themselves

  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 03:15 PM


Group: Member
Posts: 6,791

Growing inequality threatens mining
Richard Mills - Ahead of the Herd | December 1, 2019

QUOTE
Conclusion

For many the fruits of capitalism have shown up as spoilt goods. It’s harder to buy a house, get ahead, save for retirement. Working people are mad as hell, and they aren’t going to take it anymore.

Social upheaval is becoming more common in a greater number of countries. We’ve seen it in Chile, there is also social unrest in France, Spain, Germany, the UK (Brexit), Algeria, Iraq, Lebanon, Egypt, Russia, Hong Kong, Venezuela, Chile and Bolivia.

Especially in developing nations, ie. South America and Africa, politicians are pressured by their base, to enact policies that benefit everyday citizens. Inequality is a key driver of what is often a government-led attempt to download wealth from rich corporations to the poor.

Mining companies are targeted by governments intent on reaping more profits from them, expropriating mines, denying permits, or putting more restrictions on miners, all in the name of “the will of the people”. Indonesia’s ban on the export of raw ores, so they can be beneficiated locally, is one example, the closing of 23 nickel mines by Philippines President Duterte’s government is another.

Miners are easy targets because mining is a long-term investment and especially capital intensive. Mines are also immobile, so mining companies are at the mercy of the countries in which they operate. Outright seizure of assets often happens using the twin excuses of historical injustice and contractual misdeeds. There is no compensation offered and no recourse.

Countries are getting creative in how to bleed away miners’ profits. Governments have gone beyond taxation in getting more out of the mining sector with a wave of requirements such as mandated beneficiation (where ore is processed locally rather than exported raw), export restrictions and increased state ownership of mines.

As the demand by Western countries for these raw materials grows, the connections between inequality, social unrest and mining are tightening.


https://www.mining.com/web/growing-inequali...reatens-mining/
  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 03:15 PM


Group: Member
Posts: 6,791

Growing inequality threatens mining
Richard Mills - Ahead of the Herd | December 1, 2019

QUOTE
Conclusion

For many the fruits of capitalism have shown up as spoilt goods. It’s harder to buy a house, get ahead, save for retirement. Working people are mad as hell, and they aren’t going to take it anymore.

Social upheaval is becoming more common in a greater number of countries. We’ve seen it in Chile, there is also social unrest in France, Spain, Germany, the UK (Brexit), Algeria, Iraq, Lebanon, Egypt, Russia, Hong Kong, Venezuela, Chile and Bolivia.

Especially in developing nations, ie. South America and Africa, politicians are pressured by their base, to enact policies that benefit everyday citizens. Inequality is a key driver of what is often a government-led attempt to download wealth from rich corporations to the poor.

Mining companies are targeted by governments intent on reaping more profits from them, expropriating mines, denying permits, or putting more restrictions on miners, all in the name of “the will of the people”. Indonesia’s ban on the export of raw ores, so they can be beneficiated locally, is one example, the closing of 23 nickel mines by Philippines President Duterte’s government is another.

Miners are easy targets because mining is a long-term investment and especially capital intensive. Mines are also immobile, so mining companies are at the mercy of the countries in which they operate. Outright seizure of assets often happens using the twin excuses of historical injustice and contractual misdeeds. There is no compensation offered and no recourse.

Countries are getting creative in how to bleed away miners’ profits. Governments have gone beyond taxation in getting more out of the mining sector with a wave of requirements such as mandated beneficiation (where ore is processed locally rather than exported raw), export restrictions and increased state ownership of mines.

As the demand by Western countries for these raw materials grows, the connections between inequality, social unrest and mining are tightening.


https://www.mining.com/web/growing-inequali...reatens-mining/
  Forum: Macro Factors

blacksheep
Posted on: Dec 2 2019, 03:05 PM


Group: Member
Posts: 6,791

SP up 9.43% @ $3.83 currently on this news - creates a big gap @ $3.50
BRISBANE FLOODS CLASS ACTION JUDGMENT
QUOTE
Summary

• IMF announces that the Supreme Court of New South Wales has found the defendants in
the Brisbane Floods class action to be liable in negligence to the group members.

• Consistent with the class action regime, issues common to all or a sub-set of the group
members, have been determined in the judgment but without an assessment of the amount
of damages payable by the defendants to each group member. Such an assessment
requires consideration of each group member’s respective claims for loss in line with the
Court’s findings.

• The lawyers acting for the group members, Maurice Blackburn, are reviewing the detailed
findings in the judgment and will update and advise the group members accordingly in due
course.

• IMF currently estimates, subject to the outcome of any appeals, that it is likely to recognise
income from this investment (including the reimbursement of IMF’s share of expended
costs, which are currently approximately $25 million) in the range of $100 million to $130
million.
The timing of such recognition is uncertain and will be subject to applicable
accounting standards. IMF notes that it is not possible at this stage to provide a more
precise estimate of future income due to the need for a detailed damages assessment to be
conducted for all group members.

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  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 02:57 PM


Group: Member
Posts: 6,791

The Barangaroo Triangle: inside Westpac’s invisible banking regime
Westpac has been running an invisible banking system, invisible to regulators, where multinational company clients even had their own log-ons and could act like banks themselves. Michael West unpicks the Austrac action and the biggest money-laundering scandal in Australian history.
https://www.michaelwest.com.au/the-barangar...banking-regime/

extract
QUOTE
What we know from Austrac’s court filing is that in recent years $11 billion has moved into Australia without being reported, unseen by regulators. Some of the foreign “correspondent” banks, which had a relationship with Westpac, also had connections with high-risk or sanctioned countries, such as Congo, Iraq, Lebanon, Libya, Ukraine and Zimbabwe.

Austrac describes that one bank “maintained two accounts with Westpac, in its own name, each of which was used exclusively to facilitate payments for two large multinationals and their related companies … each multinational accessed the accounts through the banking logon provided by the correspondent bank”.

Which multinationals are involved has not been publicly disclosed – it isn’t even clear whether Westpac knows who they are, or if they have operations in any sanctioned country.

According to the statement of claim by Austrac, nearly all the unreported transfers came from just one bank, which the agency refers to as “Bank A”. These were largely low-value transfers.

The big transactions and the mysterious Bank B

Far more intriguing are the 36,000 incoming transfers from “Bank B”, and the 13,000 incoming transfers from Banks “C” and “D” combined. These covered the rest of the incoming $11 billion – each transaction worth about $200,000, on average.

Bank B is particularly interesting.

Westpac had set up special arrangements for Bank B and another bank, known as Bank J. Austrac knows that both banks had a “Working Capital Account” with Westpac, wherein “the underlying source of proceeds and beneficial owners are partially concealed” and “funds may be transferred to unidentified third parties”, making the whole process invisible.
  Forum: Investment Discussion

blacksheep
Posted on: Dec 2 2019, 02:50 PM


Group: Member
Posts: 6,791

QUOTE
Parken also says if you're worried about investing in the Big 4 Banks on ethical reasons, Suncorp and regional banks like Bendigo and Adelaide Bank or Tasmania's MyState may be alternatives


Anyone taking Parkins advice on alternatives might want to wait until after they appear before the house economics committee on Friday - as per Michael West article - https://www.michaelwest.com.au/the-barangar...banking-regime/

QUOTE
The questions now is which bank is next? Bank of Queensland, Bendigo, Macquarie, Suncorp and Adelaide Bank all faced the house economics committee on Friday. National Australia Bank, whose share price tracked the fall in Westpac shares after the news, is rumoured to be vulnerable, a likely target for Austrac.
  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 02:44 PM


Group: Member
Posts: 6,791

Broker upgrade target price - FWIW. SP currently $3.08. Gap @ $2.83

NRW Holding: Trading higher on UBS price target increase
William McInnes

QUOTE
NRW Holdings is trading 3.7 per cent higher at $3.09 today after its price target was raised by 20 per cent by UBS.

The broker maintained its 'buy' rating on the stock, but lifted its price target from $3.20 to $3.85.

The broker praised the company's acquisition of BGC Contracting which it said would allow strong free cash flow generation and had a solid strategic rationale.

"An acquisition of this scale is not without risk and we do require further granularity on BGC's existing contracts and tender book before considering a more material growth profile," said analyst Josh Kannourakis.

"We estimate NWH to be trading on an FY20E pro forma PE of ~12x, ex-synergies with FY20-22E EPS CAGR of 13 per cent and risks skewed to the upside."

The broker said its increased valuation reflected the earnings and cash flow impact of the acquisition.

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  Forum: By Share Code

blacksheep
Posted on: Dec 2 2019, 02:37 PM


Group: Member
Posts: 6,791

"we have had HOW many published announcements over the last three years," - no idea, have you counted them?? ASX listed companies are required to keep the market informed on progress they make - so I guess there are a number.

"HOW many of them have they achieved???" - No idea, I haven't been counting the achievements vs updates

"THATS the reason the SP is what it is today" - So all the other ASX/TSX listed companies in the same battery materials space - their charts show similar downward trend over the last 3 years - have also made too many announcements and not achieved too much of what they set out to do - is that what you are saying?? If so you really do not understand what's been happening in this space.

MNS announced they appointed NAB as their advisor in seeking project funding in September 2019 - less than 3 months ago. As a comparison I suggest you look at GNX, who are developing the Kidston Pumped Hydro Storage & Solar One Projects approximately 280 km north-west of Townsville.. Last week GNX announced NAB’s Financial & Equity Advisory team, acting as Financial Advisor to Genex since early 2019 ,had received credit approval subject to final documentation for $175m of debt funding that will be utilised to finance the construction of the Company’s 50MW Jemalong Solar Project (JSP) in New South Wales and to refinance the existing debt facility for the 50MW Kidston Solar One Project (KS1), operating at the Company’s Clean Energy Hub in Kidston, North Queensland. The facility, to be provided by a syndicate of three banks, compromises DZ BANK, NORD/LB and Westpac Banking Corporation.

GNX were seeking $175m and it took HOW long??

MNS are seeking HOW much??

Anyone with an ounce of business acumen would agree it's not an easy task, particularly in the current financial environment and in this battery/materials space. And, if it does happen, it certainly ain't gonna happen overnight. If I can borrow your words - "THATS the reason the SP is what it is today"

  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 08:21 PM


Group: Member
Posts: 6,791

QUOTE
but will they have the same hold up as NY has had, Look at NY, how long will it take them to raise the finance for that.


More questions - you jump from one question to another.

"but will they have the same hold up as NY" - Townsville and NY - two different projects in two different locations with two different sets of challenges

"how long will it take them to raise the finance for that" - no idea,

Try ringing the company with you questions - pointless asking people on chat sites - we only know what's in their published announcements
  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 03:10 PM


Group: Member
Posts: 6,791

Extended interview with Gerry Harvey
Harvey Norman Chairman, Gerry Harvey, speaks to Elysse.
https://www.abc.net.au/news/programs/the-bu...harvey/11743838
  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 02:53 PM


Group: Member
Posts: 6,791

Updated chart - gap created in September still open. Total short positions as at 25/11/19 have come down = 7.38%

Article appearing in SMH mentions NUF
Should you really be worried about using Roundup?
The Germans have banned it and 18,400 Americans are suing over it. What is glyphosate and why is it so controversial?

QUOTE
One of the Australian suppliers of glyphosate herbicides is Nufarm. The company warned in June that it was at risk of litigation because it was a supplier of glyphosate-based herbicides and, on September 30, told investors that the chemical continued to be under “intense legal and community pressure”.

But Nufarm CEO Gregg Hunt said he had been reassured by the US Environmental Protection Agency’s position released in April that there was no causal link between glyphosate and cancer. He said the chances of Nufarm being involved in any legal action was “very low” because it only had a very small market share in the US compared to industry leader Monsanto.

https://www.smh.com.au/business/companies/s...922-p52tsq.html

But that "small market share in the US" can still take legal action, as can anyone in Australia impacted. Monsanto is a much larger company than NUF Monsanto was a Forbes 2000 global company with a market cap of some $55 billion and therefore able to withstand these legal cases much better than NUF with a market cap of $1.8 billion. Monsanto was taken over by Bayer. Bayer's MC as at 29/11/19 is $71.4 billion.

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  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 02:09 PM


Group: Member
Posts: 6,791

Interesting chart courtesy of Sanlam - shows Nickel Mines Limited (NIC) (blue) pretty much tracking nickel prices (green). The recent breakaway uptick in NIC's SP no doubt due to Phil Kings recommendation at recent Sohn Hearts & Minds

http://www.kitcometals.com/charts/nickel_h...ical_large.html
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  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 01:56 PM


Group: Member
Posts: 6,791

Delivered a strong harvest result despite the drought - particularly almond crop
Overview of FY2019 Full Year Results (note - given the new financial reporting period no
financial comparatives are supplied)

QUOTE
• FY2019 NPAT of $53.0 million
• EBITDA of $95.2 million
• Operating Cashflow of $80.3 million
• 2019 almond crop of 22,690 MT (2018 crop 15,700 MT) – up 45%
• Almond price of A$8.60/kg (2018 crop A$8.05/kg) – up 7%
• Almond productivity cost per kg reduction of 15% (excluding tree depreciation)
• Net Debt (inc. finance lease liabilities)/Equity ratio at 30 September 2019 is 6.6%
• Bank debt fully re-paid - $7.9 million cash in bank
• Earnings per Share (EPS) of 55.5 cents per share
• Lost Time Injuries down 61%

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  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 01:36 PM


Group: Member
Posts: 6,791

Greece eyes 44 billion euros in investment in switch to cleaner energy

QUOTE
A gameplan approved by the cabinet on Thursday showed Greece will try to reduce its carbon footprint by more than 55 percent by 2030 compared with 2005, and would close down all its coal-fired power plants in the next eight years.

Wind, solar and hydroelectric power should account for at least 35 percent of energy consumption by then, up from about 15 percent in 2016, with investments worth about 9 billion euros. Other investments include natural gas networks and in recycling projects.


read more - https://www.reuters.com/article/us-climate-...y-idUSKBN1Y223H
  Forum: Investment Discussion

blacksheep
Posted on: Dec 1 2019, 01:33 PM


Group: Member
Posts: 6,791

A couple more opinions on whether WBC is a buy or not

Cashing in on the crisis
Is the Westpac scandal an ethical deal-breaker or a rare opportunity for investors?
QUOTE
Morgan Stanley's Richard Wiles has downgraded his estimate for Westpac's earnings per share by 14 per cent for 2020 and 3 per cent in 2021 and says the likelihood of a dividend cut has increased.


QUOTE
Fund manager Nathan Parkin, who was formerly deputy head of equities at Perpetual and is now investment director at Ethical Partners, is not convinced the damage will just be in the short term.

"The shocking nature of the allegations, and especially the exploitation element, does affect the brand long term and could affect the flow of business in mortgages and deposits," says Parkin, who has been reducing his fund's already underweight exposure to Westpac in the days since the crisis began.

"That could make the difference financially ... there is more risk attached to the stock because of it."


https://www.afr.com/wealth/personal-finance...20191128-p53exu

WAM and Motley Fool are also quoted in this article, but their opinions have already been posted below

Parken also says if you're worried about investing in the Big 4 Banks on ethical reasons, Suncorp and regional banks like Bendigo and Adelaide Bank or Tasmania's MyState may be alternatives


  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 12:46 PM


Group: Member
Posts: 6,791

BTW, stocks, could you be a pet and tell your star poster on HC, johnyb26, that this report he posted

QUOTE
For interested readers, Mark Mills research is usually insightful and of a very high standard. The "New Energy Economy" - An Exercise In Magical Thinking sheds light on some of the mistruths and public/govt held fallacies about energy reality, including batteries.
https://media4.manhattan-institute.org/site...s/R-0319-MM.pdf


is actually funded by ExxonMobil - ExxonMobil Is Still Bankrolling Climate Science Deniers - so could be a little more "biased" towards ExxonMobil vested interests than "insightful" and "truthfull".

Financing the Manhattan Institute’s specious case against renewables
QUOTE
The Manhattan Institute, a New York City-based think tank, received $75,000 from ExxonMobil last year for its Center for Energy Policy. Since 1998, the company has given the libertarian policy shop more than $1.3 million.

Like the Enterprise Institute, the Manhattan Institute opposes the Paris climate accord. Senior Fellow Oren Cass, who regularly testified before Congress against Obama administration climate efforts, alleges the international agreement is “somewhere between a farce and a fraud.” The think tank is also an outspoken opponent of renewable energy, routinely calling for an end to federal subsidies for wind, solar and electric vehicles. At the same time, it is mum about the significantly bigger subsidies the oil and gas industry has been receiving over the last 100 years.

Cass’s colleague, Senior Fellow Robert Bryce, has been bashing wind power for years and, like President Trump, he wildly overstates its threat to birds. In fact, the top human-caused threats to birds are climate change, buildings, power lines, misapplied pesticides, communications towers, and oil and gas industry fluid waste pits. Bryce never mentions that. It would undermine his bogus argument.

Still another Manhattan Institute senior fellow, Mark P. Mills, wrote an opinion piece for The Wall Street Journal in May titled “What if Green Energy Isn’t the Future?” In it, he maintained that, “using wind, solar and batteries as the primary sources of a nation’s energy supply remains far too expensive.” In fact, renewables are now the cheapest type of new electricity generation for more than two-thirds of the world, according to a June report by Bloomberg New Energy Finance. By 2030, Bloomberg researchers project, wind and solar will “undercut existing coal and [natural] gas almost everywhere.” Mills also failed to factor in the cost of doing nothing to curb carbon pollution. The top 10 largest climate change-related disasters in 2018 alone cost at least $85 billion in damages.

https://blog.ucsusa.org/elliott-negin/exxon...climate-deniers

  Forum: By Share Code

blacksheep
Posted on: Dec 1 2019, 12:20 PM


Group: Member
Posts: 6,791

QUOTE
what would the SP be IF this giga factory took three years to get under way???.


What if didn't take 3 years to get underway??? What would happen to the SP then???

Currently the Lansdown Industrial Precinct project is in the "community consultation" stage - that's been extended 3 weeks - 20 December 2019 is the deadline for submissions (currently)

QUOTE
“This is the next step in a series of moves toward developing this area.

“The Federal Government has endorsed industrial development of the site through City Deals, the State Government has endorsed it through its North Queensland Regional Plan and now we have been given ministerial direction to take this next step.”


MNS can't do anything until the planning & development approvals are in place, which is the process currently underway, but I doubt it will take 3 years for that to happen. I would imagine the potential financiers are waiting on this as well - no one is going to fund a project that hasn't got planning approval

These are the next steps, as per their last preso

QUOTE
Next phase underway including planning & development approval, pilot manufacturing and verification
Funding campaign commenced, with NAB engaged as financial advisor
Proposed Plant to be developed in 3 stages – each 6Gwh reducing initial project capital and execution risk
  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 07:16 PM


Group: Member
Posts: 6,791

Nice to see placements done at a premium

$120M ACQUISITION PLACEMENT PRICED AT A PREMIUM
NRW Holdings Limited (ASX:NWH) (NRW or the Company) is pleased to announce that it has received
QUOTE
commitments to place 42.1M million new fully paid ordinary shares in NRW (Placement Shares) at an issue
price of $2.85 per Placement Share, to raise $120M before costs (Placement).

The net proceeds from the Placement are intended to be put towards the acquisition of BGC Contracting Pty Ltd
(Acquisition).

The issue price represents a:
• 1.4% premium to NRW's adjusted closing price of $2.81 on 27 November 20191
, being the last trading
day prior to NRW entering a trading halt in connection with the Placement; and

• 5.2% premium to NRW's adjusted 10-day volume weighted average price of $2.71, up to and including
the last trading day prior to the trading halt2
.

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  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 07:05 PM


Group: Member
Posts: 6,791

Afterpay users could face surcharge
QUOTE
The $6 billion of buy now, pay later transactions made via Afterpay, Zip Pay and Flexi Group may soon have surcharge fees added on, because of regulator concerns other customers are subsidising users through higher prices.


QUOTE
"Afterpay is most exposed to this risk, in our view, given its economics relies on merchant fees. For Z1P, our preferred pick, this is incrementally negative."

read more - https://www.afr.com/companies/financial-ser...20191129-p53ffw
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  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 07:02 PM


Group: Member
Posts: 6,791

Afterpay users could face surcharge
QUOTE
The $6 billion of buy now, pay later transactions made via Afterpay, Zip Pay and Flexi Group may soon have surcharge fees added on, because of regulator concerns other customers are subsidising users through higher prices.


QUOTE
"Afterpay is most exposed to this risk, in our view, given its economics relies on merchant fees. For Z1P, our preferred pick, this is incrementally negative."

read more - https://www.afr.com/companies/financial-ser...20191129-p53ffw
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  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 06:59 PM


Group: Member
Posts: 6,791

Afterpay users could face surcharge
QUOTE
The $6 billion of buy now, pay later transactions made via Afterpay, Zip Pay and Flexi Group may soon have surcharge fees added on, because of regulator concerns other customers are subsidising users through higher prices.


QUOTE
"Afterpay is most exposed to this risk, in our view, given its economics relies on merchant fees. For Z1P, our preferred pick, this is incrementally negative."

read more - https://www.afr.com/companies/financial-ser...20191129-p53ffw
  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 06:50 PM


Group: Member
Posts: 6,791

Oz Minerals to kick off construction at $35 million mine in Brazil after series of Vale deals
QUOTE
Australian copper-gold miner OZ Minerals (ASX:OZL) has pulled the trigger on its $35 million underground copper-gold mine in Brazil’s minerals-rich Carajás region, following a series of inter-linked strategic agreements with Vale (NYSE: VALE), the country’s largest miner.

Since taking over Avanco Resources last year, Oz has been working towards transforming the small open-cut Pedra Branca mine into a larger underground operation.

The goal, it has repeatedly said, is to develop a hub-and-spoke mining complex around the Antas mine’s concentrate processing facility.

The Adelaide-based company envisions a one-million-tonne-a-year underground operation with a mine life of eight years, expected to have an annual production of about 18,000 tonnes of copper and 11,000 ounces of gold.

read more - https://www.mining.com/oz-minerals-kicks-of...ter-vale-deals/
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  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 06:47 PM


Group: Member
Posts: 6,791

reposting in correct thread

QUOTE
In a trading Halt - cap raise.
Zip Co Limited (“Zip” or “the Company”) 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

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  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 06:45 PM


Group: Member
Posts: 6,791

Not sure what happened here but obviously my post said - Zip Co Limited (Z1P) - and the chart provided was also for Zip Co Limited (Z1P).

I have absolutely no interest in ZipTel (ZIP) still recall the "pink helicopter" used to market their product back in 2015.

I have had problems with being directed to the ZIP thread before when I've punched in Z1P intp my search
QUOTE
In a trading Halt - cap raise.
Zip Co Limited (“Zip” or “the Company”) is pleased to announce a proposed $60.0m capital raising
  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 02:51 PM


Group: Member
Posts: 6,791

GXY in a Trading Halt pending an announcement regarding their investment in Alita Resources Ltd - A40 (currently in receivership)

Refinancing of Senior Secured Debt Facility and Retirement of Receivers
QUOTE
Further to the announcement of 8 October 2019, the Administrators (Richard Tucker and John Bumbak)
have undertaken a process to identify a suitable party to purchase or recapitalise the Group.
We advise that Alita and certain of its subsidiaries have entered into a binding AUD$70 million loan
facility agreement (‘Loan Facility Agreement’) with China Hydrogen Energy Limited (‘CHE’) and related
security arrangements.

The funds available under the Loan Facility Agreement will be applied by Alita to repay in full all amounts
outstanding under the senior secured debt facility with its secured creditor, Galaxy Resources Limited
(‘Galaxy Facility’).
The balance of the Loan Facility Agreement is available for draw down for working
capital purposes, subject to the consent of CHE.

The Loan Facility Agreement contemplates that CHE or its nominee will submit a deed of company
arrangement proposal (‘CHE DoCA’) for consideration by the Administrators and creditors of the Group.
The Loan Facility Agreement provides short term bridging finance for the Group ahead of the proposed
DoCA. Amounts outstanding under the Loan Facility Agreement will be repayable on the earlier of:

• two business days after the Administrators or Alita are funded to repay the amounts outstanding
under the Loan Facility Agreement in accordance with the terms of the CHE DoCA

• 13 February 2020 (or such other date agreed in writing by the parties), or

• if the CHE DoCA proposal is not approved at the second meeting of creditors, seven business days
after the date of the meeting.

In the event that the CHE DoCA proposal is not passed at the second meeting of creditors, provided that
the CHE DoCA proposal was submitted on or before 5 January 2020, an early payment fee 15% will be
payable to CHE.
  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 02:42 PM


Group: Member
Posts: 6,791

SP currently $2.19

Credit Suisse raises Wagners price target on Carmichael contract
Luke Housego

QUOTE
Credit Suisse has raised its price targe for construction and materials company Wagners to $2.30, up 12 per cent, after the business was awarded a quarry operations and haulage contract for Adani's Carmichael coal mine.

Adani emphasised the fact that the $35 million, five-year contract was awarded to a local Queensland company, the bank's analysts said, and that this was a positive signal for future opportunities.

Credit Suisse also noted other potential contracts that the company could be selected for, including work associated with Brisbane's cross river rail project.

The investment bank retained its "outperform" rating for Wagners.

Shares in the company are currently trading at $2.19, which is 5.29 per cent above their previous close, but are 30.77 per cent down over the last 12 months.

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  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 02:39 PM


Group: Member
Posts: 6,791

In a trading Halt - cap raise.
Zip Co Limited (“Zip” or “the Company”) is pleased to announce a proposed $60.0m capital raising

QUOTE
• $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



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  Forum: By Share Code

blacksheep
Posted on: Nov 29 2019, 02:32 PM


Group: Member
Posts: 6,791

Currently trading @ 1c, with $1.8m cash in kitty as at end Sept Qtr - outflows estimated this Qtr $1 m. According to this article SYA " has said it will bid on the operation["

Bids for mothballed Quebec lithium plant due by January, trustee says
Reuters | November 27, 2019
QUOTE
Bids to acquire Chinese battery firm CATL’s mothballed lithium plant in the Canadian province of Quebec are due by January next year, a representative with the court-appointed monitor overseeing the auction said on Wednesday.

Lithium is expected to be in hot demand in the early years of the next decade, but oversupply of the battery metal this year has pummeled the industry, causing major producers to cut back and forcing some smaller miners out of the business.

North American Lithium (NAL), backed by top battery maker Contemporary Amperex Technology, halted operations last year at its Quebec mine and obtained creditor protection in May.

Bids to purchase the mine and related plant are due by Jan. 21, trustee Benoit Fontaine said in a phone interview.

Australia’s Sayona Mining Ltd has said it will bid on the operation, but Fontaine declined to name other potential suitors. Sayona was not immediately available for comment.

Mineral-rich Quebec has backed upstart miners in hopes of tapping into demand from the electric vehicle boom and ranks as NAL’s largest secured creditor. A government spokesman declined comment on the auction.

In 2018, NAL produced around 114,000 tonnes of spodumene against its nameplate capacity of 180,000 tonnes.

(By Jeff Lewis and Melanie Burton; Editing by Grant McCool)

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blacksheep
Posted on: Nov 29 2019, 02:26 PM


Group: Member
Posts: 6,791

Credit Suisse ups CSL price target by 24pc
Luke Housego
QUOTE
Credit Suisse has raised its price target for CSL to $305, up 24 per cent, citing the pricing growth opportunity in Europe for the company's IG segment.

"All plasma participants have noted a tight IG market where demand is currently exceeding supply," the analysis noted.

Retaining its "outperform" rating on the stock, the investment bank's analysts increased its earnings per share estimate by 2 to 3 per cent across the forecast periods to the 2022 financial year.

"While CSL's valuation may be viewed as demanding, trading at 38.4 times 12 month forward price to earnings ratio and at a 90 per cent premium to ASX200 Industrials (ex-financials), in our view, the valuation is justified given CSL's strong market position in a niche industry that has robust fundamentals," the analysts said.


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blacksheep
Posted on: Nov 28 2019, 02:26 PM


Group: Member
Posts: 6,791

QUOTE
everyone wants sleepy and quiet. Stasis is not a feasible reality


Absolutely - NIMBY - Not In My Backyard - is part and parcel of these projects. Often it's the lack of community engagement early on that allows the misinformation/mistrust to boil over.
  Forum: By Share Code

blacksheep
Posted on: Nov 28 2019, 12:06 PM


Group: Member
Posts: 6,791

As with the SYR Vidalia Louisianna BAM site community concerns, appears the Townsville Council has not exactly been forthcoming about keeping the local community surrounding the IM3TV plant informed - hence anger and mistrust building.

QUOTE
RESIDENTS AND COUNCIL SHOWDOWN AT WOODSTOCK

Being a keen watcher at the Woodstock meeting we believe, that we actually saw that The Mayor Jenny Hill and Council Walker had completely underestimated the feelings of the residents at Woodstock in this instance and were not fully aware of the angst that had built up in what is normally a sleepily quiet country Town. This occurrence has occurred due to the lack of information and notifications provided to Woodstock and surrounds ...

Continue reading - https://www.facebook.com/pg/tsvratepayers/posts/
  Forum: By Share Code

blacksheep
Posted on: Nov 28 2019, 11:36 AM


Group: Member
Posts: 6,791

WAGNERS SECURES QUARRY OPERATION AND HAULAGE AGREEMENT FOR CARMICHAEL
MINE PROJECT
28 November 2019
QUOTE
Key points:
- Wagners secures contract for the production and haulage of quarry materials for Carmichael
mine and rail projects
- Project value expected to be over $35 million over two (2) stages
- Mobilisation to project to commence immediately

Wagners is pleased to announce that it has secured a contract with Adani Mining Pty Ltd for the
operation of South Back Creek Quarry, located approximately 160km outside of Clermont. This
operation will enable the supply of quarry materials for supporting infrastructure on the Carmichael Mine
and Rail projects.


The Carmichael Mine Project (the Project) is the design and construction of a thermal coal mine and
supporting infrastructure in Queensland’s north Galilee Basin. The Project will be connected to the port
of Abbot Point by a new 200 km narrow gauge rail line connected to an existing rail line network.

Wagners scope of works will be undertaken in two (2) stages. It will require the production of up to 1.5
million tonnes of quarry materials for the development of roads, camps, pads, dams and mine civil works,
over a period of up to five (5) years. Wagners will also provide the haulage services for the delivery of
the quarry materials to various work areas across the Project. Resourcing these works will create
employment opportunities for up to 40 personnel.

The total contract value for the two (2) stages of work under the Contract will be approximately
$35million. Mobilisation to site will commence immediately for the first stage of works, which will require
the production and haulage of approximately 735,000 tonnes of quarry materials over a fifteen (15)
month period. The second stage of works is still subject to a Notice to Proceed issuing before works
can commence which is expected to be received late 2020 or early 2021.


https://investors.wagner.com.au/
  Forum: By Share Code

blacksheep
Posted on: Nov 28 2019, 11:23 AM


Group: Member
Posts: 6,791

QUOTE
Must be time for a breather?


Morgan Stanley seems to think so also

QUOTE
Morgan Stanley anticipates big falls for Fortescue
Shares in high flying iron ore miner Fortescue Metals are likely to experience some turbulence over the next two months, according to analysts at Morgan Stanley.

“We believe the share price will fall in absolute terms over the next 60 days,” the investment bank told clients.

“This is because the stock has traded up recently, making short term valuation much less compelling. While iron ore is now trading in line with our forecasts, we expect the price to fall next year. At spot, FMG is currently pricing in an iron ore price of around $US85 a tonne, around 40 per cent higher than our long-term price estimate of $US60 a tonne.”

Morgan Stanley estimates there’s a 60 to 70 per cent chance of its call being correct, odds it describes as “likely”.

FMG shares closed at $9.79 on Wednesday.


Iron ore -1.9% to $US87.56 a tonne
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blacksheep
Posted on: Nov 28 2019, 10:16 AM


Group: Member
Posts: 6,791

Material Matters: Copper, Iron Ore And Coal
Commodities | Nov 27 2019

QUOTE
A glance through the latest expert views and predictions about commodities. Large cap resources; copper; base metals; iron ore; and coal.

-Major resource companies well-positioned heading into New Year
-Main catalyst for copper is US/China trade deal
-Increasing pressure on aluminium smelters in the face of excess capacity
-Robust demand keeping iron ore market tight
-Russia ramps up production of thermal coal


read more - https://www.fnarena.com/index.php/2019/11/2...ore-and-coal-2/
  Forum: Macro Factors

blacksheep
Posted on: Nov 28 2019, 10:14 AM


Group: Member
Posts: 6,791

Vale to shutter Mozambique coal operations for 3 months
Bloomberg News | November 27, 2019

QUOTE
Vale SA, the Brazilian mining giant, plans to place its Mozambican coal operations on maintenance for three months, essentially closing the tap on about one-third of the southeast African country’s export earnings.

The move could have severe implications for the country’s balance of payments and currency, as coal is by far its biggest source of export earnings. Mozambique exported $1.7 billion worth of the fuel used in power stations and steel plants last year, with Vale operations in the center of the country accounting for almost all of that.

The company completed a review of its Mozambican coal mines and decided to shift the focus to producing more metallurgical coal — used to produce steel — and less of the lower-value product that power stations burn. Under the new plan, the assets will produce at a rate of 15 million tons per year by the end of 2020, up from less than 12 million tons last year, but still well short of Vale’s target to export 22 million tons from the mines in central Mozambique.

Vale will this quarter write down the assets by $1.6 billion, it said in a statement.

(By Matthew Hill)

https://www.mining.com/web/vale-to-shutter-...s-for-3-months/

  Forum: Macro Factors

blacksheep
Posted on: Nov 28 2019, 10:09 AM


Group: Member
Posts: 6,791

Mum and dad' investors allowed to back out of Westpac share buy in wake of scandal
QUOTE
The besieged bank said that following talks with the corporate regulator ASIC, it will give smaller investors eight days to withdraw their applications to purchase new shares, which were made before the scandal surfaced. There is no plan to extend this option to withdraw to institutional investors


QUOTE
Class action lawyers keeping an eye on the unfolding Westpac saga say it is possible this disclosure did not go far enough.

On page 21 of the prospectus released prior to the November capital raising, Westpac disclosed a "key risk" –failure to report "a large number" of IFTIs and referenced corporate watchdog AUSTRAC's investigation into the bank.

"Non-compliance with financial crime obligations could also lead to litigation commenced by third parties (including class action proceedings) and cause reputational damage," the document states.

"These actions could, either individually or aggregate, adversely affect Westpac's business, prospects, reputation, financial performance or financial condition.

Former ASIC lawyer turned special counsel for Shine Lawyers Craig Allsopp said the failure to quantify what "large" meant has put the bank in hot water.

"Westpac described a failure to report a large number of international transactions, what does large mean? I don't think people would have taken that to mean 23 million.

"Perhaps they should have said extremely large or in the tens of millions."

read more - https://www.theage.com.au/business/banking-...128-p53evr.html
  Forum: By Share Code

blacksheep
Posted on: Nov 28 2019, 10:03 AM


Group: Member
Posts: 6,791

Huge bets that gold could triple to $4,000 trade in New York
Bloomberg News | November 27, 2019

QUOTE
The gold options market saw $1.75 million in block trades betting the precious metal could almost triple in more than a year, surpassing the record.

Around noon in New York, 5,000 lots for a gold option giving the holder the right to buy the precious metal at $4,000 an ounce in June 2021 changed hands. The bets were sold at $3.50 an ounce.


“It’s like 18-month term life insurance; what will the world look like if gold is at $4,000,” Tai Wong, the head of metals derivatives trading at BMO Capital Markets, said in an email. “They are hoping for a quick violent move,” he said, referring to the people who bought the call options.

Gold futures climbed to a record $1,923.70 an ounce in 2011 as the Federal Reserve bought over $2 trillion of debt to stimulate the U.S. economy. While bullion has rallied 14% this year, the precious metal is still 24% below the current all-time high.


read more - https://www.mining.com/web/huge-bets-that-g...de-in-new-york/
  Forum: Macro Factors

blacksheep
Posted on: Nov 28 2019, 10:01 AM


Group: Member
Posts: 6,791

Iron ore price: World steel production shrinking
Frik Els | November 27, 2019
extract
QUOTE
World Steel Association data on Wednesday showed a 2.8% decline in global steel output in October to 151.5 million tonnes with production down across all regions.

The 50-year old industry body estimates that crude steel production in China, which is responsible for more than half the global total declined 0.6% year on year in October. The decline came on the back of capacity cuts during the country’s 70th anniversary celebrations.

China also places curbs on production during the winter months through March, but thanks to surging output earlier in 2019, year to date steel production is still up 7.6% to 746m tonnes.

US PROTECTIONISM OF STEEL WILL SUPPORT US PRODUCTION THROUGH RISING DOMESTIC PRICES ON THE BACK OF INCREASING DEMAND FOR LOCAL STEEL AS TARIFFS RENDER IMPORTED STEEL FAR MORE EXPENSIVE.

US output also fell during October, declining 2% in year on year terms to 7.4m tonnes. Given the nearly 40% drop in steel prices in the country over the past year as the effect of anti-dumping measures against China fade, production declines have been modest.

The US has also imposed imposed tariffs of 25% on steel exports coming from the EU, Canada and Mexico.

The decline in Europe was significant, registering an 8.7% drop. Profitability at steelmakers on the continent have eroded as excess capacity elsewhere ends up in the region which unlike the US has not taken any anti-dumping measures. Year to date EU crude steel output is down 3.6% to 122m tonnes.

World number three producer India which overtook Japan last year recorded a drop of 3.4% at 9.1m tonnes for October, reducing year to date gains to 3% at 84.2m tonnes.

Japanese production fell nearly 5% in October in part due to typhoons and year to date the country’s output is down 3.9% to 75.6m tonnes.

A new report by Fitch Solutions suggest the weak conditions may be temporary.

The macro economic research company in the Fitch ratings agency stable reports global steel production and consumption growth will accelerate in 2019-2020 compared to 2018.

read more - https://www.mining.com/iron-ore-price-world...tion-shrinking/
  Forum: Macro Factors

blacksheep
Posted on: Nov 28 2019, 09:58 AM


Group: Member
Posts: 6,791

That's what WAM has told it's shareholders - it's just their view. Probably a hundred other differing views from other insto's/brokers/analysts out there on the subject - some of which probably lean towards whether they are holding large quantities of bank stocks, or not.

As individuals, one has to make up their own mind and then wear the result of that decision biggrin.gif Hope it works out for you.
  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 07:00 PM


Group: Member
Posts: 6,791

QUOTE
Posted Nov 15 2019, 01:03 PM
SYR House broker, Credit Suisse, continue NOT doing retail shareholders any favours. Get a load of those borrow/returns rolleyes.gif https://www.asx.com.au/asxpdf/20191115/pdf/...m7zfttrn0gn.pdf


Credit Suisse ceased to be a substantial holder a couple of days later - 14/11/19.

This afternoon's ann shows CS became a substantial holder again on 22/11/19 - largely by virtue of a couple of large borrows. Parties to the Lending Agreement - Credit Suisse Securities (Europe) Limited and
Regal Australian Equity Fund. Transfer date 22-Nov-2019
https://www.asx.com.au/asxpdf/20191127/pdf/...0m3mzwgdfl0.pdf

Back in May 2017, after the Viceroy report, Shaun Verner ,CEO SYR, contact the regulators about short selling in SYR - his main concern was what Viceroy had published but he also made these comments to AFR

QUOTE
"Short selling is not possible in many other jurisdictions, it is not as if it is something that is supported right across all other open markets, so if we are going to allow it, we as a country or as a market do need to understand what structures we are prepared to accept around it," said Mr Verner.

The Syrah boss stressed he was not campaigning against short selling, and said the best way his company could respond would be to achieve its goals, including its aim to begin producing from its Balama graphite project in Mozambique this year.

https://www.afr.com/companies/mining/syrah-...20170523-gwbaf5

SYR may not have been in a position to do much about Viceroy and their short & distort activities, but Credit Suisse is SYR's house broker, who has raised circa $800 capital, has received double digit million of dollars in commission from those cap raises, and has published numerous glowing research reports on behalf of SYR. I doubt Viceroy had the financial clout to borrow anywhere near the amount of shares that Credit Suisse has - and let's not forget that back in August 2018 Credit Suisse Equities (australia) Limited and Kitara Investments Pty Ltd entered into a Lending Agreement - Kitara is the private company of former SYR CEO Tolga Kumova. Surely Verner is concerned about this also?







  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 06:07 PM


Group: Member
Posts: 6,791

Buy Westpac for a week - then get out: WAM tells shareholders
QUOTE
Wilson Asset Management reckons brave investors may do well in a short-term trade on under-siege Westpac by buying the stock over the next few days as the negative headlines continue.

But they will need to exit soon afterwards, because the costs for Westpac will keep mounting from the AUSTRAC scandal, the fund manager said.

And this would happen against a backdrop of weak credit growth, thinning margins and ultra-low interest rates that will be a handbrake on all of the big four banks.

https://www.afr.com/companies/financial-ser...20191126-p53e9q

QUOTE
WAM was one of many institutions that participated in a $2 billion capital raising in early November before AUSTRAC's allegations that Westpac breached anti-money laundering protocols surfaced.


WAM also said buy big miners - BHP< RIO< FMG - who are all set to benefit when global growth improves and China starts lifting spending

  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 12:59 PM


Group: Member
Posts: 6,791

I would not go as far as saying "all lithium stocks" will come back. IMHO there are many penny dread fulls in this space (also cobalt and graphite) that won't last the distance and will ultimately jump into the next hot sector to stay alive - as they have done in previous hot cycles.

  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 12:51 PM


Group: Member
Posts: 6,791

Gina Hancock's Hancock Prospecting invests a further $7.8m

QUOTE
Catalyst Metals Limited (Catalyst or the Company) (ASX: CYL) is pleased to advise that Gold Exploration
Victoria Pty Ltd (GEV) (a wholly owned subsidiary of Hancock Prospecting Pty Ltd and Joint Venture
Partner on the Four Eagles Gold Project
) has agreed to subscribe for a $7.875 million placement of
Catalyst shares at a subscription price of $2.25 per share.


The placement comprises 3,500,000 ordinary fully paid shares at a subscription price of $2.25 per share
and is being made pursuant to ASX Listing Rule 7.1. No Catalyst shareholder approval is required for
the placement.

Proceeds from the 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 and to continue to pursue aggressive exploration programmes in the Whitelaw Gold Belt
north of Bendigo and adjacent belts north of the Fosterville and Inglewood goldfields.

The subscription price represents a discount of approximately 9.6% to the 20 day volume weighted
average price of the Company’s shares prior to the date of the subscription agreement.

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blacksheep
Posted on: Nov 27 2019, 12:27 PM


Group: Member
Posts: 6,791

Second strike for Harvey Norman
By Dominic Powell
QUOTE
Retail giant Harvey Norman has received a second strike against its remuneration report at its annual general meeting on Wednesday, paving the way for a board spill vote later in the day.

A total of 47.56 per cent of proxies voted against the pay deal for executives, slightly less than the 50.6 per cent which voted against the report in 2018.

Proxy advisers Glass Lewis, Ownership Matters and the Australian Shareholders Association had advised a vote against the report, pointing to governance issues at the retailer such as the non-independence of directors and the method of awarding short-term incentives.

If 50 per cent or more of eligible shareholders vote for the board spill, the company will be forced to put its entire board up for re-election.


HVN shares are down 0.4 per cent to $4.305 today.


Sparks did fly at the AGM - see Stephen Mayne's tweets https://twitter.com/MayneReport
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  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 12:20 PM


Group: Member
Posts: 6,791

Sounds a little more serious than your average investigation - https://asic.gov.au/about-asic/asic-investi...thering-powers/

QUOTE
Our power to inspect and compel production of documents is different from the power we have to apply for and execute a search warrant. Search warrants are obtained only when there are compelling reasons to do so, such as when there is a risk that the documents we seek will be lost or destroyed after it is known an investigation is in progress. Search warrants are discussed further below.


QUOTE
Power to apply for a search warrant
We have the power to apply to a court for the issue of a warrant to search premises for books and records. The power to apply for a search warrant comes from a number of sources. We may apply for a search warrant under the ASIC Act, the Corporations Act or the Crimes Act 1914.

A search warrant will only be sought in a formal investigation when there has been approval by a senior ASIC officer to seek a search warrant. A magistrate or Justice of the Peace issuing the warrant must consider the evidence relating to the commission of the alleged offence. Execution of any search warrant issued at ASIC’s request is by the Australian Federal Police (AFP), with ASIC officers assisting.

We also have the power to seek the issue of warrants to obtain stored telecommunications data from service providers. Stored communications are messages that are not in the process of passing over a telecommunications system, rather they are being held on the equipment of a service provider. An example of a stored communication is an email message or an SMS that has already been delivered to the intended recipient and that is stored on the equipment of the service provider. Use of these warrants is subject to annual reporting to the Commonwealth Attorney-General’s Department and review by the Commonwealth Ombudsman.

We do not have the power to apply for warrants to intercept telecommunications. The AFP can apply to seek warrants to intercept telecommunications for the purposes of investigations into suspected insider trading and market manipulation offences. As we also conduct investigations into these matters, we may work with the AFP to identify potentially appropriate matters for investigation by the AFP and support the investigation of those matters the AFP chooses to conduct.
  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 12:11 PM


Group: Member
Posts: 6,791

Macquarie initiates coverage of SLR with outperform rating
QUOTE
Gold miner and explorer Silver Lake Resources has jumped out of the blocks today, helped by a bullish broker note from Macquarie Research.

The investment bank has initiated coverage on the stock with an outperform recommendation and price target of $1.40, significantly higher than its present trading level.

“SLR’s acquisition of the Deflector Gold mine via its merger with Doray Minerals in April 2019 was key to growing SLR’s production and lower group AISC. We expect Deflector to continue its year-on-year production growth trend since first gold in mid-2016 with a modest guidance beat in FY20 after a strong first quarter in FY20,” Macquarie said.

Importantly, we are confident that recent strike extension drilling success will translate to at least another 1.5 years on the more than three-year mine life currently in reserves.

Macquarie anticipates gold sales from Deflector of 92,000 ounces at an all-in sustaining cost (AISC) of $A1,225 per ounce against guidance of 85-90,000 ounces at an AISC of $A1,200-1,250 ounces.

SLR shares have spiked in response to Macquarie initiating coverage of the company, lifting 5.7 per cent to $1.11. The broader All Ords gold index is currently up 1.8 per cent for the session.


Total short positions have been coming down - as at 20/11/19 = 6.06%
https://www.shortman.com.au/stock?q=slr
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  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 12:06 PM


Group: Member
Posts: 6,791

According to AFR - Westpac removed compliance officer who reported breach
QUOTE
Westpac Banking Corp's experienced anti-money laundering chief was told she didn't have the skills for the job and would have to take a more junior role after informing the bank that it faced the largest fine in corporate history, industry sources said.

https://www.afr.com/companies/financial-ser...20191125-p53dqd
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  Forum: By Share Code

blacksheep
Posted on: Nov 27 2019, 11:59 AM


Group: Member
Posts: 6,791

Ord's downgrades CTX, warns of FIRB risks
QUOTE
Caltex Australia shares have continued to climb today following a conditional takeover approach from Alimentation Couche-Tard on Tuesday, hitting fresh 20-month highs.

Even with the news, analysts at Ord Minnett don’t expect there’ll be further upside for the stock ahead, downgrading it to neutral from accumulate with a price target of $32.

“We downgrade our recommendation based on valuation,” Ord’s said in a note.

It also cautioned that Caltex has yet to engage with Couche-Tard, with the path to engagement “uncertain”, while adding that FIRB approval “may not be easy given the nature of the infrastructure and terminal assets”.


Total short positions as at 20/11/19 = 1.21%
https://www.shortman.com.au/stock?q=ctx
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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 09:42 PM


Group: Member
Posts: 6,791

Bloodshed and retreat from Mozambique for Putin’s private army the Wagner Group
QUOTE
Russian mercenaries have been forced to retreat by jihadist insurgents in Mozambique after losing men and territory in an intensifying battle they appear ill-prepared to win.

About 200 fighters from a private military operation with apparent links to the Kremlin have pulled back after ten of their men were killed in ambushes, beheadings and botched operations.

In the three months since the Wagner Group was deployed to the far north of Mozambique, guerrilla attacks by Islamist militants have increased in frequency and ferocity, according to local reports. Some of the Russians were killed in a “friendly fire” incident, which has led to a breakdown in trust with their host, the Mozambique Defence Armed Forces.

They are fighting in the densely forested province of Cabo Delgado,…

https://www.thetimes.co.uk/article/bloodshe...group-696tnpzqh
  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 09:27 PM


Group: Member
Posts: 6,791

Appears changes in index house MSCI's country indexes has sparked some heavy trades at end of the market to reflect changes to the MSCI Australia Small Cap Index. SYR have been deleted

Geneva, November 07, 2019
MSCI GLOBAL SMALL CAP INDEXES
The following are changes in constituents for the MSCI Global Small Cap Indexes
which will take place as of the close of November 26, 2019.

MSCI AUSTRALIA INDEX
Additions
AUSTAL
AVITA MEDICAL
BANK OF QUEENSLAND
CENTURIA METROPOLITAN
ECOFIBRE
EML PAYMENTS
IMF BENTHAM
INGENIA COMMUNITIES GRP
ISIGNTHIS
PERSEUS MINING
POLYNOVO
RAMELIUS RESOURCES

Deletions
OFX GROUP
SPEEDCAST INTERNATIONAL
SYRAH RESOURCES
WAGNERS HOLDING CO
WISETECH GLOBAL

https://app2.msci.com/eqb/gimi/smallcap/MSC...CPublicList.pdf
  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 08:15 PM


Group: Member
Posts: 6,791

Unusual high volume after market close - 12 mil

QUOTE
4:10:53 pm 4:36:40 pm 37.5 12,045,297 1.5 $4,516,986 151

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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 07:34 PM


Group: Member
Posts: 6,791

AFR are reporting "The corporate regulator is examining one of Australia's top hedge funds, Regal Funds Management, enquiring about its trading "in certain securities""
https://www.afr.com/markets/equity-markets/...20191126-p53e7e

Seems there is an ongoing legal case in the Federal Court of Australia - RNB Equities Pty Ltd v Credit Suisse Investment Services (Australia) Limited (No 2) [2019] FCA 1385.- in which CS is the 1st Respondent and Regal Funds management 2nd respondent in what appears to be trading in SYR back in 2013
https://www.judgments.fedcourt.gov.au/judgm...019/2019fca1385

Back in 2015 there was a report that Regal Funds were being investigated about trading activities in certain securities . At the time I had a look into trading activities/share plunge in SYR and posted this on HC
QUOTE
Had a look back at SYR's sp activity back in 2013 to see if this Regal issue had anything to do with SYR, and I'm certainly not saying it does, but there was a bit of a "plunge" early in April 2013. In fact, SYR received a "please explain" from ASX on the 3/4/13 when the sp went from $2.56 - 2.18 on "increased volumes".

If you look at the short positions on the 4/4/2013 they jumped from 297k on 3/4 to 6.1m and then 7.1m on 5/4, back down to 3.3m on 8/4 and 758k on 9/4.

BoA became a subholder on 22/3/2013 and RFM's Tasman + Atlantic Funds included as parties, but not the Long Short Fund which is the Fund, apparently, that is at the centre of this investigation (see appendix) http://www.asx.com.au/asxpdf/20130322/pdf/42dvdnz49jj0fp.pdf

This was happening around the same time as the Credit Suisse mini warrants were issued. At the time, there was quite a bit of discussion on this thread re both the mini's and the plunge in the sp. I remember Lute's post --->>> 11673895 wherein he mentioned......

"It was suggested that the shorting of the respective stock was to trigger the mini warrant stop loss to force selling into the market.

This then enabled the shares to be purchased by a larger player at a steeper discount than the current market price at the time.

The resultant action, together at time with uncertainty in the resource sector has contributed to Syrah's share price to fall from $2.75 to $1.75."

A similar "issue" with mini's occurred with ATU, and at the time ATU lodged a formal complaint to ASIC and ASX.

The other large spike/plunge shown on the chart below in July/Aug/Sept 2014 was mainly as a result of the Glencore rumour, followed by the Paul Kehoe sale at the end of November

It will be interesting to see if this has anything to with what is being investigated, or whether it is something entirely different that occurred with another stock. I guess all will be revealed at some time in the not too distant future. Certainly good to see ASIC getting on top of issues such as this.
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A later report suggested Regal Funds and Bell Potter were investigated, and issued enforceable undertakings, in relation to their trading activities in TEN - also in 2013. This latest Federal Court document seems to suggest there maybe more than the TEN trading under investigation.
  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 06:24 PM


Group: Member
Posts: 6,791

Seems there is an ongoing legal case in the Federal Court of Australia - RNB Equities Pty Ltd v Credit Suisse Investment Services (Australia) Limited (No 2) [2019] FCA 1385.- of which CS is the 1st Respondent and Regal Funds management 2nd respondent in what appears to be trading in SYR back in 2013

https://www.judgments.fedcourt.gov.au/judgm...019/2019fca1385

  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 12:58 PM


Group: Member
Posts: 6,791

Something to keep in mind about those "good divys" every year - which already have been lowered by 3 out of the Big4 recently. WBC cut its final dividend from $0.94 to $0.80, ANZ gave retirees a haircut with a reduction of franking credits, NAB cut their FY dividend by 15% to $1.66. CBA was the only bank to maintain FY dividend @ $4.31.

Bank dividends under threat
Jun 7, 2019 — 12.00am
QUOTE
It is possible the big four banks will lose about $3.5 billion in revenue earned on portfolios of liquid assets as the official cash rate moves lower.

At the end of a huge week for the big four banks, it's time for those reliant on dividend income to think hard about the longer-term implications of official interest rates being lower for longer.

There is no need to panic. But as official rates set by the Reserve Bank of Australia move to 1 per cent and possibly 0.75 per cent over the next six months, there will be enormous downward pressure on bank profitability.


https://www.afr.com/chanticleer/bank-divide...20190606-p51v8l
  Forum: Investment Discussion

blacksheep
Posted on: Nov 26 2019, 12:32 PM


Group: Member
Posts: 6,791

Currently in a trading halt.

RF1 is the listed investment trust of Regal Funds Management. Regal Funds are also known as "the king of shorts"

AFR are reporting "The corporate regulator is examining one of Australia's top hedge funds, Regal Funds Management, enquiring about its trading "in certain securities""

https://www.afr.com/markets/equity-markets/...20191126-p53e7e

Not the first time RFM has been investigated for its trading activities - RFM and Bell Potter received enforceable undertakings re their trading activities in Ten Holdings back in 2013

https://www.smh.com.au/business/banking-and...222-glt1ng.html
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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 10:57 AM


Group: Member
Posts: 6,791

Westpac woes a red flag for the big four banks

QUOTE
Westpac's woes suggest there's more pain ahead for the big four banks, given the sector's poor track record in technology investing in the pursuit of short-term profits, warns Hyperion Asset Management chief investment officer Mark Arnold.


QUOTE
"They all have been lagging in terms of technology spending for decades," said Mr Arnold, such that technology spending has been sacrificed in the pursuit of near-term profit, he argued. "They have been trying to squeeze out as much short-term profit as possible."


Look out for lower dividends in the future

QUOTE
The propensity of Australian companies to pay out high dividends to their shareholders has also played a part in the pursuit of short-term profit in a world where "being prepared to take a longer term view is key," according to Mr Arnold

https://www.afr.com/markets/equity-markets/...20191126-p53e3b
  Forum: Investment Discussion

blacksheep
Posted on: Nov 26 2019, 10:49 AM


Group: Member
Posts: 6,791

Merry Christmas sadsmiley02.gif

Reported to up to 400 jobs could be lost

QUOTE
Qantas Airways is planning to lay off hundreds of workers before Christmas, as the airline executes on its cost-cutting strategy.


...and this comes only weeks after

QUOTE
an analysis by superannuation investors showed Qantas chief executive Alan Joyce earned a realised pay of almost $24 million for 2017-18, including the vesting of bonus shares awarded for the airline's strong financial performance.

Some company managers are upset about being required to carry out the job cuts in the wake of the publicity about Mr Joyce's huge pay packet, a Qantas source said.

The person, who is involved in carrying out the looming job cuts, said about 400 positions would be lost across its Australian and global business.



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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 10:41 AM


Group: Member
Posts: 6,791

Stephen Mayne on Gerry Harvey’s fans in the Murdoch media as fiery shareholder showdown looms

QUOTE
Embattled retailing giant Harvey Norman reported $391 million of marketing expenses in the 2018-19 year and is believed to be spending close to $100 million of this directly with Rupert Murdoch’s News Corporation.

https://www.michaelwest.com.au/stephen-mayn...showdown-looms/

https://www.shortman.com.au/stock?q=hvn
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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 10:28 AM


Group: Member
Posts: 6,791

Xero reaches $80
By Lucy Battersby
QUOTE
Cloud-based accounting services company Xero reached a milestone in the opening minutes, getting above $80 per share for the first time. It has since softened slightly and is trading at $79.87 currently, a 1 per cent gain on yesterday's closing price.

This takes value of the biggest shareholder and founder Rod Drury's 11.1 per cent share up to $1.3 billion.

Two weeks ago the company confirmed director Craig Winkler's charity Givia had sold $225 million worth of shares it holds. At the current share price its remaining 6.5 per cent stake is worth $740 million, from an original $NZ18 million investment in 2009. And Peter Thiel owns 2.9 per cent that is now worth $331 million, four times more than what he paid for it in April 2017.

Like many tech companies Xero is trading at eye-watering multiples of 706 times earnings with the company expected to make a profit of $18.35 million this year. It does not pay dividends. The stock price is nearing the highest analyst target price of $90, but the average target price is $73.77.

https://www.shortman.com.au/stock?q=xro
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  Forum: NZX

blacksheep
Posted on: Nov 26 2019, 10:22 AM


Group: Member
Posts: 6,791

BHP becomes Ecuador-focused SolGold’s largest shareholder
Cecilia Jamasmie | November 25, 2019
QUOTE
World’s largest miner BHP (ASX, LON, NYSE:BHP) has increased its stake in Australian miner SolGold (LON:SOLG) (TSX:SOLG) to 14.7% from 11.1%, which boosts its exposure to copper, one of the key metals for the world’s green initiatives.

The mining giant said on Monday it had paid 17.1 million pounds ($22 million) to raise its interest in SolGold, a move that makes it the Ecuador-focused company’s top shareholder. Such position was held until today by Australia’s largest gold producer, Newcrest Mining (ASX: NCM).

The deal, which also gives BHP options to purchase another 19.25 million shares by 2024, stipulates that it won’t acquire further shares for two years without SolGold’s consent.

SOLGOLD’S FLAGSHIP PROJECT MAY BECOME ONE OF THE LARGEST COPPER-GOLD PORPHYRY SYSTEMS EVER DISCOVERED.

The rising mine developer has attracted a flurry of interest from big industry actors eager to increase their exposure to copper. The highly conductive metal is in demand for its use in renewable energy and electric vehicles, but big, new deposits are rare.

SolGold’s Cascabel copper-gold project is one of those exceptional finds as it has the potential to become one of the largest copper-gold assets ever discovered with an estimated productive mine-life of 55 years.

read more - https://www.mining.com/bhp-becomes-ecuador-...st-shareholder/
  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 10:22 AM


Group: Member
Posts: 6,791

SolGold plc | LSE / TSX: SOLG (11% owned by DGR)

BHP becomes Ecuador-focused SolGold’s largest shareholder
Cecilia Jamasmie | November 25, 2019
QUOTE
World’s largest miner BHP (ASX, LON, NYSE:BHP) has increased its stake in Australian miner SolGold (LON:SOLG) (TSX:SOLG) to 14.7% from 11.1%, which boosts its exposure to copper, one of the key metals for the world’s green initiatives.

The mining giant said on Monday it had paid 17.1 million pounds ($22 million) to raise its interest in SolGold, a move that makes it the Ecuador-focused company’s top shareholder. Such position was held until today by Australia’s largest gold producer, Newcrest Mining (ASX: NCM).

The deal, which also gives BHP options to purchase another 19.25 million shares by 2024, stipulates that it won’t acquire further shares for two years without SolGold’s consent.

SOLGOLD’S FLAGSHIP PROJECT MAY BECOME ONE OF THE LARGEST COPPER-GOLD PORPHYRY SYSTEMS EVER DISCOVERED.

The rising mine developer has attracted a flurry of interest from big industry actors eager to increase their exposure to copper. The highly conductive metal is in demand for its use in renewable energy and electric vehicles, but big, new deposits are rare.

SolGold’s Cascabel copper-gold project is one of those exceptional finds as it has the potential to become one of the largest copper-gold assets ever discovered with an estimated productive mine-life of 55 years.

read more - https://www.mining.com/bhp-becomes-ecuador-...st-shareholder/
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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 10:15 AM


Group: Member
Posts: 6,791

News on a neighbour - TSX listed Altamira Gold

QUOTE
Altamira Gold (TSXV: ALTA) filed a National Instrument 43-101 Technical Report on its advanced Cajueiro project, located in the northern Mato Grosso state in western Brazil.

In a press release, the company said that the Technical Report, dated November 22, 2019, effective October 10, 2019, supports the scientific and technical disclosure in the mineral resource estimates.

Back in October, the miner announced that a study conducted by Global Resource Engineering showed an 83% increase in the total amount of contained ounces of gold and a 61% increase in the gold grade.

Inferred resources were estimated at 12,665,000 tonnes at 1.26 g/t gold for a total of 515,000 ounces of gold of which 1,673,000 tonnes at 1.12 g/t gold is weathered rock and 10,992,000 tonnes at 1.29 g/t is fresh rock.

Indicated resources, on the other hand, were reported as totaling 5,661,000 tonnes at 1.02 g/t gold for a total of 185,000 ounces of gold of which 854,000t at 0.92 g/t gold is weathered rock and 4,806,000 tonnes at 1.04 g/t is fresh rock.

The Cajueiro project comprises a large land package located in the Alta Floresta – Juruena Gold Belt, a Proterozoic arc consisting of calc-alkaline granite-volcanic, and medium to high grade metamorphic crustal segments.

Historic gold production in the belt is recognized to be in the range of 7-10MM oz., primarily from garimpeiro activity.
  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 10:10 AM


Group: Member
Posts: 6,791

MOY has been a producer for some time but when you look at their All In Sustaining Costs vs Selling Price it's not hard to see why they went bust
From the last Quarterly
QUOTE
Table 1 - Quarterly Comparative Results - Mar19, June19, Sept19
Gold metrics
Gold produced oz 17,393 14,871 16,286
Gold sold oz 20,008 13,760 17,261
Gold on hand oz 58 1,477 707
Average selling price $/oz 1,751 1,742 1,866
Cash operating cost * $/oz 1,480 1,343 1,793
All-in sustaining cost * $/oz 1,564 1,733 2,068
  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 10:03 AM


Group: Member
Posts: 6,791

Up slightly on the Hartzer/Board changes, but not out of the woods just yet and SP could go down further, IMHO

While Hartzer had to go, it's worth noting that these offenses date back to 2013 when Gail Kelly was CEO.

Westpac twists over dirty money
QUOTE
Moody's said that wyhile it was too early to estimate the value of any potential financial penalties, the AUSTRAC case was "credit negative because of the damage to the bank's reputation and the adverse financial impact from potential fines and costs related to remedial actions".

"Compliance problems of this nature also highlight the corporate governance challenges of maintaining tight controls at large and complex institutions, and the negative spillover effects for the banks' reputations," Moody's said.


[quote]In more bad news for the bank, state governments from Victoria and NSW said extensions of lucrative banking contracts worth hundreds of millions were being scrutinised[/quote].
https://www.afr.com/companies/financial-ser...20191125-p53dyx



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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 09:45 AM


Group: Member
Posts: 6,791

IO price continuing to rise - Iron ore +3.2% to $US90.92 a tonne - FMG's SP following - currently $9.80/share 52 week high. Must be time for a breather?

Total short sales @ 19th November, 2019 = 4.79%
https://www.shortman.com.au/stock?q=fmg
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  Forum: By Share Code

blacksheep
Posted on: Nov 26 2019, 09:39 AM


Group: Member
Posts: 6,791

26 November 2019
RECEIPT OF NON-BINDING, INDICATIVE, CONDITIONAL PROPOSAL
QUOTE
Caltex Australia Limited (ASX:CTX) (Caltex) notes recent media reports about a potential takeover
proposal for Caltex.

Caltex confirms that it has recently received an unsolicited, conditional, confidential, non-binding
and indicative proposal from Alimentation Couche-Tard Inc. (ACT) to acquire all of the shares in
Caltex by way of a scheme of arrangement at an indicative cash price of A$34.50 cash per share less
any dividends declared by Caltex (Proposal)
. The Proposal would permit Caltex to pay a special
dividend or other distribution. The Proposal followed an earlier approach from ACT at an indicative
cash price of A$32.00 per share, which was rejected on the basis that the indicative price was
inadequate.

The Proposal is subject to a number of conditions, including due diligence, organising necessary
financing for the transaction, no material asset sales, divestments or similar transactions, obtaining
Foreign Investment Review Board approval, a unanimous recommendation by the Caltex Board and
the approval of the ACT Board.

The Caltex Board is currently considering the Proposal, including obtaining advice from its financial
and legal advisers.

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  Forum: By Share Code

blacksheep
Posted on: Nov 24 2019, 02:02 PM


Group: Member
Posts: 6,791

Goldman Sachs unveils internal campaign on use of gender identity pronouns

QUOTE
(Reuters) - Goldman Sachs Group Inc (GS.N) said on Friday it has launched an internal campaign to promote awareness about pronouns and how employees self-identify.

In a blog post bit.ly/35lHiJc, Goldman listed "tips for being an inclusive ally", and advised that employees should not assume a colleague's pronoun or pronouns based on gender.

The Wall Street bank said the campaign was meant to encourage workers to recognize and use colleagues’ self-identified pronoun or pronouns to “show respect and ensure a more inclusive environment.”

“To enable our people to optimize their potential, we believe in fostering an inclusive environment where they feel comfortable to be their authentic selves,” the post said.

https://www.reuters.com/article/us-goldman-...s-idUSKBN1XW2D3
  Forum: Off Topic Chat

blacksheep
Posted on: Nov 24 2019, 01:54 PM


Group: Member
Posts: 6,791

According to Elon Musk about 150,000 orders have been received thus far for hi Cybertruck

https://www.reuters.com/article/us-tesla-tr...k-idUSKBN1XX0O7
  Forum: Investment Discussion

blacksheep
Posted on: Nov 24 2019, 01:50 PM


Group: Member
Posts: 6,791

Wall Street Weekahead: Conditions may be set for Santa Claus rally
QUOTE
NEW YORK (Reuters) - A year after the U.S. stock market plunged, many investors believe conditions are in place to avoid another year-end pullback and possibly set the stage for a rally to finish off 2019


QUOTE
“The prospects this year are better,” said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee. “It’s not just the U.S. that’s doing well right now. It’s happening in lots of places around the globe, and that puts investors in a more risk-taking mood.”

One wild card for markets heading into year-end is the United States’ trade war with China. The dispute remains unresolved, but there is optimism about a preliminary U.S.-China trade agreement that could also lift stocks into the new year.

Investors are still wary of last year's stock market collapse. The benchmark S&P 500 .SPX fell 19.8% - barely avoiding a bear market - between Sept. 20 and Dec. 24.

The index's 2.7% collapse on the eve of the Christmas holiday marked the bottom, and the S&P 500 .SPX registered its biggest percentage decline for a fourth quarter since 2008, the height of the financial crisis.


read more - https://www.reuters.com/article/us-usa-stoc...y-idUSKBN1XW25D
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  Forum: Investment Discussion

blacksheep
Posted on: Nov 23 2019, 08:38 PM


Group: Member
Posts: 6,791

Porsche going all in on electric
Bloomberg News | November 22, 2019

QUOTE
By 2025 every other car Porsche sells will have a plug, Zellmer predicted. He pushed back against the notion that luxury cars and sustainability are incompatible.

“To remain what we are, we have to adapt,” he said. “If we don’t adapt, we’re going to be left out.”

Porsche’s legendary 911 will be the last in its line to go electric, Zellmer said. There’s been considerable controversy over when and how the brand’s oldest model will make the transition.

read more - https://www.mining.com/web/porsche-going-all-in-on-electric/
  Forum: Investment Discussion

blacksheep
Posted on: Nov 23 2019, 08:32 PM


Group: Member
Posts: 6,791

As lithium prices drop, private equity investors hunt for deals
extract
QUOTE
The Pallinghurst-Traxys Battery Materials fund plans to focus on lithium projects, as well as copper and graphite, in developed economies to reduce risk, Ichilov told an industry conference earlier this month.

That and a recent spate of other deals should help bridge what analysts forecast will be an under-investment by the lithium industry in coming years.

“Mining needs a lot more capital than it has been getting,” said Sam Jaffe of Cairn Energy Research Advisors, who estimates more than $100 billion needs to be invested in the battery minerals supply space, including for materials like lithium, nickel and graphite.

Texas-based private equity firm Centaurus Capital took up half of Pioneer Ltd’s A$40 million ($27 million) stock offering in late November, a tacit bet that the company’s Nevada lithium project will see strong demand in coming years. The offering was backed by Goldman Sachs Group Inc and Australian private wealth business Ord Minnett.

Centaurus did not respond to a request for comment.

Czech utility CEZ is finalizing a deal to convert a 2 million euro ($2.2 million) loan into majority control over European Metals Holdings Ltd’s Cinovec lithium and tin project, which it says is the largest lithium deposit in Europe, an unusual arrangement for a utility.

Commodities trader Transamine Trading SA earlier this year said it would lend Canadian miner CAT Strategic Metals Group nearly C$10 million ($7.5 million) for the Kamativi Tailings Lithium Project in Zimbabwe.

Transamine did not respond to a request for comment.

“With strong projected demand ahead, the industry is still underserved from investments in the space,” said Ernie Ortiz, president of Lithium Royalty Corp, an affiliate of Waratah Capital Advisors, which earlier this year invested A$8.1 million ($5.5 million) for a 2.5% royalty in Core Lithium Ltd’s Canadian lithium project.

Ichilov, the Traxys investor, said his fund plans to move fast.

“We want to make significant moves in 2020,” he said. “We’re big believers in the energy transition. It’s a tectonic shift.”

read more - https://www.mining.com/web/as-lithium-price...hunt-for-deals/
  Forum: By Share Code

blacksheep
Posted on: Nov 23 2019, 08:25 PM


Group: Member
Posts: 6,791

SOHN HEARTS & MINDS is where the biggest names in Australian Funds Management pitch their best investment ideas for the coming year
Below is a table showing the performance of the investment ideas from 2018 in Aussie dollars.(courtesy of Livewire Markets) There is also a thread for 2017
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This year"- ASX stock picks
Tribeca Investment Partners portfolio manager Jun Bei Liu picked A2M
Airlie Funds’ Emma Fisher’s picked MIN
Regal Funds Management founder, Phil King picked NIC as his LONG, and PNV as his SHORT

Their charts are shown below. During the course of 2020 I'll update these charts to see how each tip is travelling. May the best fund manager win biggrin.gif
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  Forum: Investment Discussion

blacksheep
Posted on: Nov 23 2019, 07:56 PM


Group: Member
Posts: 6,791

Return of short-selling bans: market protection or 'war against truth'?
QUOTE
NEW YORK/LONDON/ISTANBUL (Reuters) - New moves to curb short-selling in some countries have set the stage for a renewed battle between free market advocates and authorities aiming to check investors they see as profiteers who destabilize major companies.

Turkey’s regulator banned short-selling of seven domestic banks last month after U.S. prosecutors charged state lender Halkbank (HALKB.IS) with Iranian sanctions violations.

South Korea is considering restrictions while European authorities are investigating short-sellers over alleged market manipulation - part of a nascent trend that Carson Block, founder of U.S. short-seller Muddy Waters Capital LLC, decried to Reuters as a “global war against truth.”

Meanwhile, as Brexit looms, authorities in Frankfurt, Rome and Amsterdam could temporarily curb short-selling of companies to counter price swings triggered by the European divorce, officials have told Reuters.


read more - https://www.reuters.com/article/us-global-m...h-idUSKBN1XT1L3
  Forum: Off Topic Chat

blacksheep
Posted on: Nov 23 2019, 07:49 PM


Group: Member
Posts: 6,791

Interesting read
Coal Knew, Too
QUOTE
A newly unearthed journal from 1966 shows the coal industry, like the oil industry, was long aware of the threat of climate change.

“Exxon knew.” Thanks to the work of activists and journalists, those two words have rocked the politics of climate change in recent years, as investigations revealed the extent to which giants like Exxon Mobil and Shell were aware of the danger of rising greenhouse gas emissions even as they undermined the work of scientists.

But the coal industry knew, too — as early as 1966, a newly unearthed journal shows.


QUOTE
As Cherry did some of his own digging, he soon realized his discovery could be the first evidence that the coal industry was aware of the impending climate crisis more than half a century ago — a finding that could open mining companies to the type of litigation that the oil industry is now facing.


https://www.huffingtonpost.com.au/entry/coa...984f?ri18n=true
  Forum: Macro Factors

blacksheep
Posted on: Nov 23 2019, 07:40 PM


Group: Member
Posts: 6,791

Swerving SWIFT: the story behind Westpac’s money-laundering calamity
by Nathan Lynch -- 22 November 2019 -- Featured, Finance, Markets

QUOTE
As regulatory intelligence expert Nathan Lynch reveals here however, Westpac is unlikely to be alone. The story behind the story is industrial scale tax avoidance, the concealing of enormous cross-border payments.


QUOTE
SWIFT manoeuvres

The banking sector has a number of dark secrets. One is that many institutions around the world put complex systems in place following the 2009 SWIFT reporting changes to ensure they could continue to facilitate lucrative transactions in the shadows. The U.S. Department of Treasury’s recent case against UniCredit, for example, found that the Italian-headquartered bank had sought specific advice from consultants on circumventing the SWIFT reporting obligations.

The settlement agreement said UniCredit engaged a German consulting firm, which helped it “construct the evasive process by which UniCredit AG carried out this illegal conduct, apparently conducted a compliance analysis at the AG NY Branch in or about 2006.”

In internal emails bank staff made it clear that this was designed to mask payments to “sensitive” countries, such as Sudan, Syria, Iran, Cuba, Myanmar, Belarus, North Korea. The aim was to ensure there was no data in field 72 of the SWIFT message for transactions involving a U.S. bank.

The bank was intentionally avoiding oversight from the fearsome U.S. Office of Foreign Assets Control (OFAC).

As the AUSTRAC statement of claim has demonstrated, however, some banks had developed an even simpler way to avoid submitting SWIFT data. With its LitePay and ACM products for international cross-border payments, Westpac could bypass the SWIFT rails completely.

The claim says this concealed evidence of cross-border payments moving to and from sanctioned countries such as Sudan, Cuba and Iran.

The statement of claim indicates that several major international banks took advantage of this service.


read more - https://www.michaelwest.com.au/swerving-swi...ering-calamity/
  Forum: Investment Discussion

blacksheep
Posted on: Nov 23 2019, 07:36 PM


Group: Member
Posts: 6,791

Swerving SWIFT: the story behind Westpac’s money-laundering calamity
by Nathan Lynch -- 22 November 2019 -- Featured, Finance, Markets
QUOTE
Bnkrolling pedophiles, facilitating massive money-laundering schemes and terrorist-financing have branded Westpac, deservingly, an instant pariah of the banking world. As regulatory intelligence expert Nathan Lynch reveals here however, Westpac is unlikely to be alone. The story behind the story is industrial scale tax avoidance, the concealing of enormous cross-border payments.

The Australian anti-money laundering (AML) regulator’s case against Westpac for more than 23 million alleged reporting breaches will shine an international spotlight on SWIFT data reporting avoidance. Anti-money laundering experts have said the case will provide an unprecedented view into the processes that banks put in place to circumvent the SWIFT MT202 COV obligations, which took effect in 2009.

The MT202 COV requirement was introduced to allow banks and their regulators to trace the senders and recipients of international wire transfers. The cover note on SWIFT payments was an international format that SWIFT developed to facilitate data sharing on cross-border funds transfers between financial institutions.

Prior to the introduction of the MT202 COV format, the banks that processed these transactions had little visibility over the transactions they were processing on behalf of their correspondent banks.

The older MT202 messaging format did not require financial institutions to provide information on the sender and recipient of cross-border payments. This was particularly problematic with cover payments, where a combination of the MT103 and MT202 messaging formats were used.

AUSTRAC’s statement of claim makes it clear that Westpac’s decision to offer services such as LitePay and the Australasian Cash Management (ACM) platform were designed to bypass SWIFT. This in turn had a devastating impact on financial intelligence gathering.

“Westpac considered that the SWIFT payment network was costly and not an efficient means of sending low value, large volume payments for clients of global banks that need to make and receive payments around the world,” the regulator has alleged.

“For this reason, under a number of the ACM arrangement, the correspondent banks ‘batch’ funds transfer instructions from multiple payers to multiple payees and send the instructions to Westpac in a single structured data file, via non-SWIFT channels.”

The cost savings were not in the avoidance of payments to SWIFT, however. It was in the circumvention of compliance, reporting and data collection. There was a steady line of correspondent banks and their customers who wanted to avail them of this lite-cost, lite-visibility service.


read more - https://www.michaelwest.com.au/swerving-swi...ering-calamity/
  Forum: By Share Code

blacksheep
Posted on: Nov 23 2019, 07:33 PM


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Citibank drawn into Westpac's money laundering case
QUOTE
Citibank's European arm has been revealed as "Bank A" in AUSTRAC's damning legal complaint against Westpac, a potential embarrassment for the US institution which was fined $117 million last year for failing to comply with anti-money laundering regulations.

The US bank was identified by AUSTRAC as being responsible for more than 99 per cent of the 23 million transactions which were not correctly reported to Australian authorities.


QUOTE
Citibank is not part of AUSTRAC's case against Westpac, nor is it under investigation. But having its name associated with such a high-profile case is likely to arouse regulatory scrutiny in other jurisdictions


read more - https://www.afr.com/companies/financial-ser...20191122-p53d2j
  Forum: By Share Code

blacksheep
Posted on: Nov 23 2019, 07:30 PM


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Posts: 6,791

A couple of recent anns

GNX Receives Lender Credit Approval for Jemalong and KS1 - https://www.asx.com.au/asxpdf/20191121/pdf/...sr4c1hrd6sf.pdf

Genex Executes New MOU with J-POWER for Kidston Hydro - https://www.asx.com.au/asxpdf/20191122/pdf/...twgt1wx3mk7.pdf
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blacksheep
Posted on: Nov 22 2019, 07:24 PM


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According to the Townsville Bulletin there have been some protests to Council from people living nearby the proposed Industrial Precinct. Council has extended the submission period by 3 weeks and propose to hold a couple of information sessions to answer questions the locals may have.

QUOTE
Date published: 22 November 2019

Townsville City Council will extend the deadline for public submissions on the proposed planning scheme amendment to create the Lansdown Industrial Precinct by three weeks, Mayor Jenny Hill announced today.

The Mayor said council was committed to consulting with the community in good faith and wanted to ensure nearby residents had the time to consider all the facts and make up their own minds.

“Council recently called for feedback on a proposal to amend its planning scheme to create the Lansdown Industrial Precinct as an environmentally sustainable advanced manufacturing, processing and technology estate,” Cr Hill said.

“Following some initial feedback from the community, council has decided an extension for feedback on this proposal to 20 December will give the community more time to read through the planning reports, understand what it means for them and form their own opinions.”

Cr Hill said that council had also made a range of reports and documents related to the proposed changes to the planning scheme available to the community.

“The Lansdown site has been identified for future industrial development for more than 20 years,” the Mayor said.

“This is the next step in a series of moves toward developing this area.

“The Federal Government has endorsed industrial development of the site through City Deals, the State Government has endorsed it through its North Queensland Regional Plan and now we have been given ministerial direction to take this next step.”

Cr Hill said council wanted to attract best-practice, low-emission, energy-efficient ecologically sensitive industrial development to this site.

“Attracting these types of development also means jobs,” she said.

“Already we have support from DriveIt and Imperium3, with Edify Energy on board to power the area from its Majors Creek Solar Farm.

“This has the potential for exciting development but is one that the Woodstock residents need time to consider and make their minds up about which is why we are extending the consultation period.”

“Council will also hold information sessions on 30 November and 7 December at Woodstock to allow members of the public to ask additional questions of council staff.”
  Forum: By Share Code

blacksheep
Posted on: Nov 22 2019, 06:51 PM


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Hydrogen the focus of today's energy COAG, but experts urge caution
By Sabra Lane on AM
QUOTE
Hydrogen's being touted as the fuel of the future - a virtually endless supply of convenient, high-energy, zero emissions energy.

And today at a meeting of energy ministers the chief scientist Alan Finkel will lay out his plan for Australia to become an early player in the emerging hydrogen fuel industry, with the

But, argue others, the clean energy promise of hydrogen a decade or so away because producing it now can only be done economically by burning large amounts of carbon intensive fossil fuels.

Podcast - https://abcmedia.akamaized.net/radio/local_...ag-hydrogen.mp3

In simple terms, there are currently three ways to make hydrogen. Brown hydrogen is is produced when the element is stripped out of fossil fuels such as coal, while blue hydrogen is produced from gas. Green hydrogen is produced from running an electric current through water using an electrolyser powered by renewable energy such as solar.

Angus Taylor, surprise, surprise, suggested - "In an interview before the meeting, Taylor suggested hydrogen production should be “technology neutral”, indicating it could be down using brown coal. and "efforts by ACT energy minister Shane Rattenbury to secure a commitment from COAG energy council to produce hydrogen using only renewable energy sources, were blocked by Taylor."

QUOTE
Production
Hydrogen can be produced from diverse, domestic resources including fossil fuels, biomass, and water electrolysis with electricity. The environmental impact and energy efficiency of hydrogen depends on how it is produced. Several projects are under way to decrease costs associated with hydrogen production.

There are a number of ways to produce hydrogen:

Natural Gas Reforming/Gasification: Synthesis gas, a mixture of hydrogen, carbon monoxide, and a small amount of carbon dioxide, is created by reacting natural gas with high-temperature steam. The carbon monoxide is reacted with water to produce additional hydrogen. This method is the cheapest, most efficient, and most common. Natural gas reforming using steam accounts for the majority of hydrogen produced in the United States annually.

A synthesis gas can also be created by reacting coal or biomass with high-temperature steam and oxygen in a pressurized gasifier, which is converted into gaseous components—a process called gasification. The resulting synthesis gas contains hydrogen and carbon monoxide, which is reacted with steam to separate the hydrogen.

Electrolysis: An electric current splits water into hydrogen and oxygen. If the electricity is produced by renewable sources, such as solar or wind, the resulting hydrogen will be considered renewable as well, and has numerous emissions benefits. Power-to-hydrogen projects are taking off, where excess renewable electricity, when it's available, is used to make hydrogen through electrolysis.

Renewable Liquid Reforming: Renewable liquid fuels, such as ethanol, are reacted with high-temperature steam to produce hydrogen near the point of end use.

Fermentation: Biomass is converted into sugar-rich feedstocks that can be fermented to produce hydrogen.

A number of hydrogen production methods are in development:

High-Temperature Water Splitting: High temperatures generated by solar concentrators or nuclear reactors drive chemical reactions that split water to produce hydrogen.

Photobiological Water Splitting: Microbes, such as green algae, consume water in the presence of sunlight, producing hydrogen as a byproduct.

Photoelectrochemical Water Splitting: Photoelectrochemical systems produce hydrogen from water using special semiconductors and energy from sunlight.

https://afdc.energy.gov/fuels/hydrogen_production.html
  Forum: By Share Code

blacksheep
Posted on: Nov 22 2019, 06:27 PM


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Tesla unveils the Cybertruck, its 'bulletproof' electric ute
By CNN
6:26pm Nov 22, 2019
QUOTE
The Cybertruck has arrived and it looks nothing like any ute you've ever seen. Years after first saying it was on the way, Tesla finally revealed the electric pickup truck at its Design Studio in Hawthorne, California, just outside Los Angeles.

When the truck initially drove onto the stage, many in the crowd clearly couldn't believe that this was actually the vehicle they'd come to see. The Cybertruck looks like a large metal trapezoid on wheels, more like an art piece than a truck.


read more - https://www.9news.com.au/motoring/tesla-cyb...2f-0c4b3e5a84db

Not about to win any "beauty" contest sadsmiley02.gif
  Forum: Investment Discussion

blacksheep
Posted on: Nov 22 2019, 06:21 PM


Group: Member
Posts: 6,791

Updated chart.

Total short positions keep building - maybe Hempton took up Kumova's offer "please short more" biggrin.gif Total short positions as at 18/11/19 = 7.62%
https://www.shortman.com.au/stock?q=ncz


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blacksheep
Posted on: Nov 22 2019, 06:09 PM


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5 year chart - yes the low point was 24 December 2018 when it hit $23.30. Will we see it go lower leading up to this Xmas Eve?

Total short position around 24/12/18 were 1.73%. Currently they are 0.71% - that's as at 18/11/19
https://www.shortman.com.au/stock?q=wbc


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blacksheep
Posted on: Nov 22 2019, 05:55 PM


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Nikola Corporation to Unveil Game-Changing Battery Cell Technology at Nikola World 2020
QUOTE
Technology encompasses world’s first free-standing / self-supported electrode with a cathode that has 4x the energy density of lithium-ion
Achieves 2,000 cycles
Cell technology expected to cost 50% less to produce than lithium-ion
Could drive down the cost of hydrogen and double the range of battery-electric vehicles worldwide
Nikola will share IP with all other OEM’s around the world that contribute.


QUOTE
The date of Nikola World will be announced soon but is expected to be fall of 2020.


read more - https://nikolamotor.com/press_releases/niko...a-world-2020-67
  Forum: Investment Discussion

blacksheep
Posted on: Nov 22 2019, 05:40 PM


Group: Member
Posts: 6,791

Sohn stock pick: Regal’s Phil King - Nickel Mines (NIC ASX)
QUOTE
Nickel Mines offers a preferred Regal commodity play in nickel, since Indonesia banned exports. “We think there was a huge discount in Nickel Mines’ share price when it listed,” he says. It is “pretty much on target to hit name plate production or exceed it,” and with that, risks should disappear from the share price.


Total short positions as at 18th November, 2019 = 0.28%
https://www.shortman.com.au/stock?q=nic
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blacksheep
Posted on: Nov 22 2019, 05:36 PM


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Posts: 6,791

Sohn stock pick: Regal’s Phil King - SHORT PolyNovo (PNV ASX)
QUOTE
There’s a lot of expensive stocks out there and one only has to look at the ASX: If the FAANG stocks look toppy trading on a multiple of 5 times sales, what then to make of the Aussie tech stocks trading on 13 times?

Well, “the biggest bubble in the Australian stockmarket today is Australian biotech,” King says, christening them the PPANCs (PolyNovo, Pro Medicus, Avita Medical, Nanosonics and Clinuvel.)

Regal is actually long Avita, but “we needed the vowel”. Healthcare stocks in Australia are prone to bubbles, King warns. We don’t have the big pharmaceutical companies like Europe, and Australians aren’t that good at valuing them.

Passive investing has surely helped fuel the rally, as four out of five PPANC stocks have joined the ASX 200.

PolyNovo is singled out as having the most downside. “We think the competition’s well established, the company’s still losing money and it’s never delivered on expectations,” King says, adding: “there’s no room for disappointment”.

Mark Twain once said a mining company is a hole in the ground with a liar on top.

An Australian biotech is a medical lab with a good salesperson on top.
  Forum: Investment Discussion

blacksheep
Posted on: Nov 22 2019, 05:35 PM


Group: Member
Posts: 6,791

Sohn stock pick: Regal’s Phil King - SHORT PolyNovo (PNV ASX)
QUOTE
There’s a lot of expensive stocks out there and one only has to look at the ASX: If the FAANG stocks look toppy trading on a multiple of 5 times sales, what then to make of the Aussie tech stocks trading on 13 times?

Well, “the biggest bubble in the Australian stockmarket today is Australian biotech,” King says, christening them the PPANCs (PolyNovo, Pro Medicus, Avita Medical, Nanosonics and Clinuvel.)

Regal is actually long Avita, but “we needed the vowel”. Healthcare stocks in Australia are prone to bubbles, King warns. We don’t have the big pharmaceutical companies like Europe, and Australians aren’t that good at valuing them.

Passive investing has surely helped fuel the rally, as four out of five PPANC stocks have joined the ASX 200.

PolyNovo is singled out as having the most downside. “We think the competition’s well established, the company’s still losing money and it’s never delivered on expectations,” King says, adding: “there’s no room for disappointment”.

Mark Twain once said a mining company is a hole in the ground with a liar on top.

An Australian biotech is a medical lab with a good salesperson on top.


Total short positions as at 18th November, 2019 = 1.76%
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blacksheep
Posted on: Nov 22 2019, 05:30 PM


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Sohn stock pick: Airlie’s Emma Fisher - Mineral Resources (MIN ASX)
extract
QUOTE
It's the resources company trading at a 50 per cent discount to its peers and has one of the top four best track records of shareholder value creation over the last 14 years alongside Altium, REA Group and Magellan
.
QUOTE
Fisher points out that since listing in 2006, MinRes has grown earnings at 15 per cent each year and achieved an average return on invested capital of 19 per cent, as well as a yearly total shareholder return of 26 per cent.

The jewel in MinRes' crown is its mining services business, says Fisher.

She says this business is not tied to the boom and bust capital expenditure cycle like its rivals, but rather it is tied to production.

"Because it's production linked it's absolutely mission critical for its customers so it makes it very difficult to swap out."


Doesn't look like shorters agree with Emma - total short positions as at 18th November, 2019 = 9.24%
https://www.shortman.com.au/stock?q=min
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blacksheep
Posted on: Nov 22 2019, 03:30 PM


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Costa Group raises $176 million
By Darren Gray
QUOTE
Fruit and vegetable giant Costa Group has closed off a bumpy period with the completion of a $176 million capital raising, just as Citi analysts have warned of a "challenging year" for some of the company's key crops including mushrooms. Costa tapped the market to strengthen its balance sheet, raising about $87 million in last month's institutional entitlement and $66 million in this month's retail entitlement. But this left a gap of about $23 million, which was filled on Thursday after the market closed via a retail shortfall bookbuild run by UBS.

Costa chief executive Harry Debney said the company was pleased to have completed the capital raise, adding that it was focussed on executing strategic priorities for long term growth.

"Any successful agribusiness must focus on long term strategies and value creation. We have faced many and varied challenges this year, but we will continue to meet them head on," he said.

But in a new note released just before the capital raise was completed, Citi analyst Craig Woolford gave a cautious assessment of Costa, as he also cut his target price on its shares.

"We lower our financial year 2020 estimated EBITDA (earnings before interest, tax, depreciation and amortisation) by 4 per cent to $127 million. We expect another challenging year in mushrooms, blueberries and citrus to hold the stock back."

Total short positions as at 18th November, 2019 - 11.04%
https://www.shortman.com.au/stock?q=cgc
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blacksheep
Posted on: Nov 22 2019, 03:26 PM


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Tribeca Investments fund manager Jun Bei Liu tips A2 for China potential
QUOTE
Liu said A2 price was not expensive when one considered its potential in the Chinese infant formula market.

She said A2 had a big potential for sales in China’s mother and baby store market as well as its current sales offline.

“A2 is in a unique position to take advantage of the market in China,” she said.

She said its products were already some of the top 10 selling brands online in China.

“It is building a premium brand in a competitive market,” she said.

“Where others have failed, A2 has done it incredibly well.”

read more - https://www.theaustralian.com.au/business/m...cac972cc7d82c0f
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blacksheep
Posted on: Nov 22 2019, 03:17 PM


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World’s No. 2 lithium miner SQM hit by weak prices, demand
Cecilia Jamasmie | November 21, 2019

QUOTE
Chile’s Chemical and Mining Society (SQM), the world’s second largest lithium producer, continues to suffer from sustained weak prices and demand for the metal used in batteries that power electric vehicles (EVs) and high tech electronics, with profit falling almost 28% in the three months to Sept. 30.

The Santiago-based lithium giant said net income in the third quarter reached $60.5 million compared to $83.5 million a year earlier, while gross profit reached $134.2 million, lower than the $162.1 million recorded for the same quarter last year.


QUOTE
Prices for lithium carbonate, the most common type used in EV batteries, doubled over 2016 and 2017. Since then, they have fallen by more than 40% to around $9.5 per kilo compared to the $18 per kilo mark they hit in May last year, according to S&P Global Platts.

The main factor behind the price slump is the avalanche of new supply that has hit the make over the past year, triggered mainly mine expansions and a cut in government subsidies for purchasers of electric vehicles in China.

read more - https://www.mining.com/worlds-no-2-lithium-...-prices-demand/
  Forum: By Share Code

blacksheep
Posted on: Nov 22 2019, 03:17 PM


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World’s No. 2 lithium miner SQM hit by weak prices, demand
Cecilia Jamasmie | November 21, 2019

QUOTE
Chile’s Chemical and Mining Society (SQM), the world’s second largest lithium producer, continues to suffer from sustained weak prices and demand for the metal used in batteries that power electric vehicles (EVs) and high tech electronics, with profit falling almost 28% in the three months to Sept. 30.

The Santiago-based lithium giant said net income in the third quarter reached $60.5 million compared to $83.5 million a year earlier, while gross profit reached $134.2 million, lower than the $162.1 million recorded for the same quarter last year.


QUOTE
Prices for lithium carbonate, the most common type used in EV batteries, doubled over 2016 and 2017. Since then, they have fallen by more than 40% to around $9.5 per kilo compared to the $18 per kilo mark they hit in May last year, according to S&P Global Platts.

The main factor behind the price slump is the avalanche of new supply that has hit the make over the past year, triggered mainly mine expansions and a cut in government subsidies for purchasers of electric vehicles in China.

read more - https://www.mining.com/worlds-no-2-lithium-...-prices-demand/
  Forum: Investment Discussion

blacksheep
Posted on: Nov 22 2019, 03:12 PM


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Posts: 6,791

Testing is ongoing - up to 2 years before they can demonstrate it works - that's my understanding - here's the FAQ sheet - https://www.project-leilac.eu/faq

QUOTE
LEILAC is a 5-year project starting in 2016 with front-end engineering and design. Assuming design, approvals and permitting go to plan, construction should commence during late 2017. The pilot plant should be ready for operation during 2019 and will be test run for up to 2 years to demonstrate the technology.
  Forum: By Share Code

blacksheep
Posted on: Nov 22 2019, 02:59 PM


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Rio Tinto faces having to renegotiate terms at Oyu Tolgoi
Reuters | November 21, 2019
QUOTE
Rio Tinto faces renegotiating the terms of an agreement underpinning its Mongolian copper mine project, after lawmakers on Thursday approved plans to revise the deal to make it more beneficial for Mongolia.

The Oyu Tolgoi mine, Mongolia’s biggest foreign investment project, has already been subject to delays and ballooning costs, leaving Mongolian lawmakers impatient for income, while Rio Tinto says it has invested billions.

Rio Tinto-owned Turquoise Hill Resources has a 66% stake in the multi-billion-dollar project and the Mongolian state owns 34%, with investment terms agreed in 2015 in a deal known as the Dubai Agreement.

Rio Tinto said in an email that it understood that the Mongolian parliament’s vote on Thursday to revise the deal needed to be finalised and it would provide a further update once that happened.

Thursday’s vote was the culmination of a two-year process after a working group was set up to establish the benefits of the Dubai Agreement and submitted its report to parliament.

“For now, the Oyu Tolgoi agreement is not benefiting Mongolian citizens,” Battumur Baagaa, a member of the Mongolian parliamentary working group, said when he first presented the report in July.

“It is good to attract foreign investment but that doesn’t mean foreign investment should only benefit the foreign side.”

In July, Rio Tinto announced a cost overrun of up to $1.9 billion, saying total capital expenditure was expected to be in a range of $6.5 billion-$7.2 billion, and it expected a delay of up to 30 months at the Oyu Tolgoi underground extension.

The recommendations approved by parliament include replacing the 34% interest with a special royalty and bringing forward the date – currently set at 2041 – when Mongolia begins receiving dividends.

The working group argued the Dubai agreement was never ratified by parliament and was not legally binding.

On Monday, Mongolia’s Administrative Court ruled that former prime minister Chimed Saikhanbileg had violated the law when he signed the Dubai Agreement. A non-governmental organisation named Darkhan Mongol Nogoo Negdel had asked the court to check the legality of Saikhanbileg’s approval of the agreement.

Turquoise Hill, which is 51%-owned by Rio Tinto, also said it would provide a further update once the parliamentary resolution was finalised.

Rio’s difficulties in Mongolia have held back its share price, analysts say. Rio shares fell 1.2% on Thursday. They have gained around 11% this year, but Turquoise Hill shares have shed around 74% this year.

(By Anand Dairtan, Barbara Lewis and Jeff Lewis; Editing by Susan Fenton)

https://www.mining.com/web/rio-tinto-faces-...copper-project/
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blacksheep
Posted on: Nov 22 2019, 02:27 PM


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Have a listen to this video produced by the BBC - helps to understand the scale of the cement "problem" world wide. The video includes some info on the Low Emissions Intensity Lime & Cement (LEILAC) project pilot plant which has CXL's direct separation technology.integrated into Heidelberg Cement's cement plant in Belgium. LEILAC consortium is led by technology provider Calix, and comprises HeidelbergCement, CEMEX, Tarmac, Lhoist, Amec Foster Wheeler, ECN, Imperial College, PSE, Quantis and the Carbon Trust. It is supported by CEMBUREAU, ECRA, and EuLA. Chemical multinational Slovay also recently joined the consortium https://www.solvay.com/en HeidelbergCement, is one of the world’s largest building materials companies. With the takeover of the Italian cement producer Italcementi, HeidelbergCement became the number 1 in aggregates production, number 2 in cement, and number 3 in ready-mixed concrete. https://www.heidelbergcement.com/en/company So, if the pilot plant is successful, one would imagine there is a ready market. right there.

The LEILAC consortium have received funding from European Commission through the. Horizon 2020 research and innovation programme €12M, grant. The consortium members are contributing another €9M,
https://www.project-leilac.eu/latest-news

The concrete cleaners - People Fixing the World
Making concrete produces significant carbon emissions, but one company has devised a way of locking carbon dioxide inside the material instead of releasing it into the atmosphere.

https://www.bbc.co.uk/programmes/w3csz1ns

That's just one of their projects - https://www.calix.global/what-we-do/
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blacksheep
Posted on: Nov 20 2019, 02:56 PM


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NAB to pay compensation to customers sold junk insurance

Updated 11 minutes ago
QUOTE
The National Australia Bank (NAB) has agreed to pay compensation to tens of thousands of customers who were sold junk credit card and personal loan insurance.

The bank, and its subsidiary MLC Limited, have settled a class action taken against them in the Federal Court.

The amount to be paid to each customer is still to be worked out, but the court hopes they will be notified by Christmas if they will receive a payout.

The action, taken by law firm Slater and Gordon, alleged NAB and MLC engaged in unconscionable conduct in selling consumer credit insurance (CCI) to customers.

They included pensioners, casual workers, and unemployed and critically ill people who were ineligible to claim or unlikely to benefit from the policies.

It was also alleged NAB engaged in misleading and deceptive conduct when selling the insurance.

Earlier this year, the corporate regulator gave a scathing assessment of CCI policies offered in Australia, finding they were "extremely poor value for money".

On average, customers only received 11 cents for every dollar spent on CCI premiums linked to their credit cards, the Australian Securities and Investments Commission (ASIC) revealed in its July report.

CCI policies offer to provide payouts to help cover loan or credit card repayments if someone is sick, injured or loses their job and cannot meet the minimum repayments.

More to come.

https://www.abc.net.au/news/2019-11-20/nab-...urance/11721820

https://www.shortman.com.au/stock?q=nab
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  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 02:32 PM


Group: Member
Posts: 6,791

Updated chart - down another 11.52% today @ $2.38
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  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 01:59 PM


Group: Member
Posts: 6,791

SP currently $3.05 - down 10.03%

Saracen raises equity, share slump
QUOTE
Shares in gold miner Saracen Minerals have slumped today following a successful, but heavily discounted, institutional equity raise.

The company announced that it raised $701 million from investors at an issuance price of $2.95, some 11.3 per cent below its last trading price.

“We received strong support from both existing and new institutional shareholders, which is a fantastic endorsement of a transformational acquisition that underwrites Saracen’s future as a leading all-Australian gold miner,” the company’s MD Raleigh Finlayson said.

$333 million was raised through an entitlement offer with the remaining $369 million coming from an institutional placement.

https://www.shortman.com.au/stock?q=sar
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  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 01:47 PM


Group: Member
Posts: 6,791

A couple of charts showing the rise, and fall, of some of the pot stocks mentioned below
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  Forum: Investment Discussion

blacksheep
Posted on: Nov 20 2019, 01:21 PM


Group: Member
Posts: 6,791

Stalled U.S.-China Trade Talks Raise Threat of Another Impasse
Trump administration is standing firm on China making large agricultural purchases, while Beijing insists on the removal of tariffs
By William Mauldin and Josh Zumbrun
Updated Nov. 19, 2019 6:26 pm ET
QUOTE
WASHINGTON—Trade talks between the U.S. and China are in danger of hitting an impasse, threatening to derail the Trump administration’s plan for a limited “phase-one” pact this year, according to former administration officials and others following the talks.

Both sides remain divided over core issues—including Beijing’s demand for removing tariffs and the U.S.’s insistence on China buying farm products—nearly six weeks after an “agreement in principle” was announced by the White House on Oct. 11.

“China is going to have to make a deal that I like,” President Trump said Tuesday at a cabinet meeting. “If we don’t make a deal with China, I’ll just raise the tariffs even higher.”

read more - https://www.wsj.com/articles/stalled-u-s-ch...sse-11574202440?
  Forum: Investment Discussion

blacksheep
Posted on: Nov 20 2019, 01:17 PM


Group: Member
Posts: 6,791

Delays, budget over runs, legal problems - Oyu Tolgoi has got the lot. Must rank up there with their Alcan Aluminium and Mozambican coal ventures. Probably more to come.
  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 10:07 AM


Group: Member
Posts: 6,791

Does this mean they are now truly "fully funded" to Accelerate Juruena & Novo Astro Projects? No mention of "fully funded" in this announcement - only "accelerate".

Like the $2.7m placement in August 2019 only sophisticated investors & insto's got to participate - although MEI Directors Tunks & Ramnath have agreed to participate in the current CR, subject to shareholder approval

1st tranche (130m) due to be settled on or around 27/11/19 - should see a drilling update soon.

$7M Raised to Accelerate Exploration at Novo Astro & Juruena Gold Projects

QUOTE
• Firm commitments received to raise $7.0 million from existing shareholders and
leading institutional investors
• Funds raised will enable Meteoric to accelerate Brazilian exploration programs
including:
o 5,000m of diamond drilling at Juruena to expand known Resources and test
additional targets
o 3,000m of diamond drilling at Novo Astro testing under known Artisanal open
cast mines
o 20,000m of percussion/air core drilling at Novo Astro to define the scale of the
mineralised system outside historical mining areas
o Expand the proposed geophysical programs at Novo Astro and Juruena

Meteoric Resources NL (ASX: MEI) (“Meteoric” or the “Company”) is pleased to advise it has received
firm commitments to raise $7 million (before costs) through the placement of 140,000,000 million new
shares to sophisticated and professional investors at $0.05 per share
(Placement).

The Placement will allow Meteoric to accelerate its exploration at the 100% owned Juruena and Novo
Astro Gold Projects
located 30 km apart in the highly prospective Alta Floresta Gold Belt in state of Mato
Grosso, Brazil, where the Company is currently completing maiden drill programs at both projects.

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  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 09:42 AM


Group: Member
Posts: 6,791

LICs in the spotlight over returns

QUOTE
A case in point is one of the market’s highest-profile LIC operators, Geoff Wilson’s Wilson Asset Management. Along with smaller operators Katana Capital and NAOS Emerging Opportunities Company, WAM reports returns before expenses and fees. This is permissible under the current regime.

By contrast, WAM's peers Argo Investments, Australian Foundation Investment Company (AFIC) and VGI Partners report returns after fees and other costs.


read more - https://www.afr.com/wealth/personal-finance...20191114-p53ahv
  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 09:37 AM


Group: Member
Posts: 6,791

Operating profit in spite of drought impact. SP up 2.97% @ $1.04

Strong Wagyu sales highlight progress on strategy for AACo
QUOTE
• Strongest half-year Wagyu meat sales to date, up 9.5%, driven by volume and
price/mix/exchange improvement
• Underlying* Operating Profit of $9.4m
• Operating Cash inflow of $11.0m
• Statutory EBITDA loss of ($3.4m) compared to loss of ($82.9m) in pcp
• Positive Operating Profit and Operating Cash Flow delivered despite impact of drought
related costs of approximately ($36m) in H1FY20
• Significant head room remains in debt covenants
• Gearing ratio of 30.6% pre AASB 16 Leases1 adoption within targ

https://www.shortman.com.au/stock?q=aac
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  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 09:22 AM


Group: Member
Posts: 6,791

Coal exporter NCIG, heading for record figures, works to keep Novocastrians onside amid criticism
ABC Newcastle By Liz Farquhar
Posted about 3 hours ago
QUOTE
As protests in Australia over coal and climate change grow louder and more aggressive, a coal loading company in Newcastle is working on re-engaging with its community.

Key points:
Major exporter Newcastle Coal Infrastructure Group expects to move a record 57 million tonnes of coal this year
The company has restarted its community engagement group
The Grattan Institute says it is increasingly difficult for coal to stay onside with public opinion as climate concerns increase


Newcastle Coal Infrastructure Group (NCIG) has just confirmed it is expecting a record year of coal tonnage through its terminal at the Port of Newcastle as new and established New South Wales mines ramp up production.

NCIG began operating in 2010, mostly sending coal to customers in Japan, Korea, and China.

CEO Aaron Johansen said this year will be bigger than ever.

"We're expecting up to 57 million tonnes through the NCIG terminal this year," he said.

read more - https://www.abc.net.au/news/2019-11-20/coal...ection=business
  Forum: Macro Factors

blacksheep
Posted on: Nov 20 2019, 09:19 AM


Group: Member
Posts: 6,791

ASIC chair vows to intervene as AMP continues to charge customers after death
By business reporter Daniel Ziffer
Updated about 8 hours ago
QUOTE
Revelations that scandal-prone financial giant AMP has continued to knowingly charge dead customers have been called "confronting and disappointing" by the head of Australia's corporate watchdog.

Key points:
ASIC chair James Shipton told a parliamentary inquiry he will personally be involved in the inquiry into allegations AMP continued to charge customer Daryl Oehm despite being informed of his death
Mr Shipton says the case is particularly disappointing as it occurred after the financial services royal commission exposed the "charging-the-dead" scandal
AMP had already been exposed for continuing to charge life insurance premiums to more than 3,000 customers who had died


Australian Securities and Investment Commission (ASIC) chair James Shipton told a Senate committee he was disturbed by the ABC's report on the treatment of customer Daryl Oehm.

The respected manager of a mental health unit at St Vincent's Hospital in Melbourne, Mr Oehm died in October last year.

His friend and executor Naomi Halpern spent months fighting with the company — while AMP sent emails to the dead man's account.

Mr Shipton said the case was disturbing because it occurred after the royal commission first exposed the practice.

"It was confronting and disappointing to me that this was still going on," Mr Shipton said.

"Let me say that we're making inquiries in relation to this and I'm personally very interested in what happened.

"One thing I will say and unfortunately this is a vignette, an example of where their system is … their systems are obviously failing and there isn't a magic, quick solution."

read more - https://www.abc.net.au/news/2019-11-20/asic...ection=business
  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 09:16 AM


Group: Member
Posts: 6,791

Westpac faces fines over 'serious and systemic' anti-money laundering breaches, AUSTRAC says
By business reporter Michael Janda and senior business correspondent Peter Ryan
Updated 4 minutes ago
QUOTE
AUSTRAC has applied to the Federal Court for civil penalty orders against Westpac for deficient oversight of its anti-money laundering and terrorism financing obligations.

Key points:
AUSTRAC alleges Westpac breached anti-money laundering laws on more than 23 million occasions
The bank recently warned investors it was in discussions with AUSTRAC and it could face a "significant financial penalty"
AUSTRAC said some of the breaches relate to transfers to the Philippines and SE Asia, raising child exploitation risks


The bank is alleged to have breached the Anti-Money Laundering and Counter-Terrorism Financing (AML-CTF) Act on more than 23 million occasions.

The anti-money laundering regulator is alleging Westpac failed to report more than 19.5 million international funds transfer instructions to it over a period of five years, for money moving into and out of Australia.

Related to these transfers, AUSTRAC alleges Westpac "allowed correspondent banks to access its banking environment and the Australian Payments System without conducting appropriate due diligence".

Among the serious breaches alleged, AUSTRAC says Westpac failed to "carry out appropriate customer due diligence on transactions to the Philippines and South-East Asia that have known financial indicators relating to potential child exploitation risks".

In a very brief statement before the media at Parliament House, AUSTRAC's chief executive officer Nicole Rose described Westpac's behaviour as "serious and systemic non-compliance".

"These AML-CTF laws are in place to protect Australia's financial system, businesses and the community from criminal exploitation," she said.

read more - https://www.abc.net.au/news/2019-11-20/west...ection=business
  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 09:09 AM


Group: Member
Posts: 6,791


Rio Tinto faces fresh legal setback at Oyu Tolgoi mine
QUOTE
The world’s second largest miner Rio Tinto (ASX, LON, NYSE: RIO) is facing a fresh setback at its massive Oyu Tolgoi underground copper project in Mongolia as an administrative court has backed a non-governmental organization’s claims that the government didn’t follow due process on the agreement that underpins the asset’s development.

Local Darkhan Mongol Nogoon Negdel group, which advocates for ecological balance and economic independence, is disputing the agreement signed in 2015, as well as the authority of Mongolian officials involved in the negotiations leading to the deal.

The court’s formal written ruling is expected to be released in the coming weeks, Rio said.

THE RULING IS A FRESH BLOW TO A PROJECT THAT HAS BEEN PLAGUED BY DELAYS, LEGAL PROBES, COST OVERRUNS AND GOVERNMENT PRESSURE

The looming lawsuit is one of many recent challenges Rio Tinto has faced in Mongolia in the past two years.

read more - https://www.mining.com/rio-tinto-faces-lega...yu-tolgoi-mine/
  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 09:06 AM


Group: Member
Posts: 6,791

A bit of speculation - not the first time this has been suggested

Glencore trip puts spotlight on Rio Tinto tie-up
QUOTE
Glencore top brass Ivan Glasenberg and Steve Kalmin's visit to Australia last week has got tongues wagging about the merits of a Rio Tinto takeover of Glencore.


QUOTE
In July 2014 Glencore chief executive Glasenberg lobbed the idea of a takeover onto then Rio chairman Jan du Plessis' desk.

That early-stage offer never made it past the Rio Tinto board, who rejected it a month later.


read more - https://www.afr.com/street-talk/glencore-tr...20191115-p53az4
  Forum: By Share Code

blacksheep
Posted on: Nov 20 2019, 09:01 AM


Group: Member
Posts: 6,791

Pot stocks given the chop

Aussie brokers burned by Pershing's potty move
QUOTE
BNY Mellon's Pershing will no longer accept incoming positions, or trading of non-permitted Cannabis Related Business securities," Pershing told its clients, via an email seen by Street Talk.


QUOTE
While the ban is global, it has seen seven ASX-listed pot stocks given the chop.

The unlucky seven were Auscann Group, Cann Group, CannPal Animal Therapeutics, Creso Pharma, MGC Pharmaceuticals, MMJ Group and Zelda Therapeutics. Another 20-odd were "to be reviewed".


read more - https://www.afr.com/street-talk/aussie-brok...20191119-p53bu5
  Forum: Investment Discussion

blacksheep
Posted on: Nov 19 2019, 02:49 PM


Group: Member
Posts: 6,791

Yep, our very own Scomo - who once likened the Tesla battery to the Big Banana/Big Prawn - "By all means have the world's biggest battery, have the world's biggest banana, have the world's biggest prawn like we have on the roadside around the country," Mr Morrison said" - now wants to make the Banana even bigger biggrin.gif Angus Taylor is even on board the biggest Banana - wonders never cease.

QUOTE
South Australia's big Tesla battery's output and storage will increase by 50 per cent, with help from the State and Federal Government.

Key points:
The Hornsdale Power Reserve near Jamestown will be expanded by 50 per cent
The expansion will take the battery's total capacity to 150 megawatts
The upgrade is expected to be completed by mid-2020 and provide more security to the grid

Once labelled the "Hollywood solution" by Prime Minister Scott Morrison, who also likened it to the world's biggest banana or the world's biggest prawn, the expansion will be financed through the Federal Government's Clean Energy Finance Corporation.

French renewable energy company Neoen said it would take the battery's output from 100 to 150 megawatts, with the South Australian Government committing $15 million and the Australian Renewable Energy Agency contributing $8 million.

Speculation about the expansion has been rife in renewable energy circles after a truck driver filmed several Tesla Powerpacks being delivered to the battery site, near Jamestown in the state's Mid North earlier this month.

It will also expand the battery's storage capacity to 193.5 megawatt hours, allowing it to operate at full power for more than an hour.

The battery was built in 2017 under an agreement between Tesla, Neoen and the former SA government.

Tesla boss Elon Musk flew to Adelaide to announce the battery's construction with then-premier Jay Weatherill, after promising to build it in 100 days or build it for free following a Twitter exchange with Australian tech billionaire Mike Cannon-Brookes.

The arrangement was mocked by several federal ministers, including the newly-installed Prime Minister Scott Morrison.

"By all means have the world's biggest battery, have the world's biggest banana, have the world's biggest prawn like we have on the roadside around the country," Mr Morrison said.

In a statement confirming the Federal Government's investment in the battery expansion, Energy Minister Angus Taylor said it would improve response times on the worst days when demand was at its highest and the wind was not blowing and the sun was not shining.

"Projects like this, combined with the gas and pumped hydro projects that are coming online, are extremely important to the future integration of renewable energy to the South Australian grid," he said.


QUOTE
Opposition energy spokesman Tom Koutsantonis said today's announcement was a validation of the former state government's energy plan.

"It's a vindication that when South Australians work together, we can come up with breakthrough solutions," Mr Koutsantonis said.

"I just hope the Premier recognises that when he criticized the energy plan and the big battery, that criticism was misplaced.

"Indeed, I hope the Prime Minister recognizes that by criticizing the big battery as nothing more than a Big Banana or a Big Pineapple … that those type of demeaning remarks towards this cut-through technology doesn't serve the nation.

"A lot of the other states are still grappling with that transition, South Australia did it before everyone else.


https://www.abc.net.au/news/2019-11-19/sa-b...bigger/11716784
  Forum: Investment Discussion

blacksheep
Posted on: Nov 19 2019, 02:25 PM


Group: Member
Posts: 6,791

Tesla may supply batteries and drivetrains for Fiat-Chrysler EVs in the future, says CEO

QUOTE
Fiat-Chrysler might be lagging somewhat among veteran automakers when it comes to the development and rollout of its own all-electric vehicles, but the company might eventually get a valuable lifeline. In recent comments, FCA CEO Mick Manley noted that Tesla may very well provide batteries and drivetrains for future Fiat-Chrysler electric cars.


QUOTE
The idea of Tesla serving as a supplier for other companies’ electric vehicles was mentioned in the company’s recently-held Q3 2019 earnings call. Similar to Manley, CEO Elon Musk seemed optimistic about the idea of Tesla selling its components to other OEMs. Addressing the topic, Musk stated that such initiatives are in line with the electric car maker’s mission.

“It would be consistent with the mission of Tesla to help other car companies with electric vehicles on the battery and powertrain front, possibly on other fronts. So it’s something we’re open to. As a lot of people know, we open-sourced our patents so that those would not serve as an obstacle to the adoption of electric vehicles or solar power or stationary storage. And we’re definitely open to supplying batteries and powertrains and perhaps other things to other car companies,” he said.

https://www.teslarati.com/tesla-batteries-d...-fiat-chrysler/

Will Tesla License Its Electric Skateboard? (Batteries + Powertrain)

QUOTE
On Tesla's Q3 2019 conference call, Elon Musk said Tesla would be willing to sell or license its electric skateboard (batteries + powertrain) to other auto OEMs. Just a couple days later, on Fiat Chryslers earnings call, the company admitted it was considering sourcing batteries from Tesla. Volkswagen is also circling with rumors the company wanted to invest in Tesla to access its battery tech .... Do you think we are on the cusp of Tesla announcing a major battery deal with a legacy car company?

https://www.youtube.com/watch?v=7duZVk4ykUc

Tesla, Inc. (TSLA) Q3 2019 Earnings Call Transcript - extract
QUOTE
George Dailey -- Morgan Stanley -- Analyst

Great. And then, if I could just sneak in one more, so it's been over seven years since you launched the Model S. And many OEMs seem that they don't have the same commitment to battery electric vehicles that you do, and many don't even offer one right now. As your business model proves to be more sustainable, could we potentially see Tesla maybe supplying other OEMs with batteries or software or complete electric vehicle architectures maybe in an effort to accelerate mass adoption of sustainable transport?

Elon R. Musk -- Founder, Chief Executive Officer & Director

Yeah, I think there's -- it would be consistent with the mission of Tesla to help other car companies with electric vehicles on the battery and powertrain front, possibly on other fronts. So it's something we're open to. As a lot of people know, we open sourced our patents so that those would not serve as an obstacle to the adoption of electric vehicles or solar power or stationary storage. And we're definitely open to supplying batteries and powertrains and perhaps other things to other car companies.

https://www.fool.com/earnings/call-transcri...transcript.aspx
  Forum: Investment Discussion

blacksheep
Posted on: Nov 19 2019, 02:25 PM


Group: Member
Posts: 6,791

Tesla may supply batteries and drivetrains for Fiat-Chrysler EVs in the future, says CEO

QUOTE
Fiat-Chrysler might be lagging somewhat among veteran automakers when it comes to the development and rollout of its own all-electric vehicles, but the company might eventually get a valuable lifeline. In recent comments, FCA CEO Mick Manley noted that Tesla may very well provide batteries and drivetrains for future Fiat-Chrysler electric cars.


QUOTE
The idea of Tesla serving as a supplier for other companies’ electric vehicles was mentioned in the company’s recently-held Q3 2019 earnings call. Similar to Manley, CEO Elon Musk seemed optimistic about the idea of Tesla selling its components to other OEMs. Addressing the topic, Musk stated that such initiatives are in line with the electric car maker’s mission.

“It would be consistent with the mission of Tesla to help other car companies with electric vehicles on the battery and powertrain front, possibly on other fronts. So it’s something we’re open to. As a lot of people know, we open-sourced our patents so that those would not serve as an obstacle to the adoption of electric vehicles or solar power or stationary storage. And we’re definitely open to supplying batteries and powertrains and perhaps other things to other car companies,” he said.

https://www.teslarati.com/tesla-batteries-d...-fiat-chrysler/

Will Tesla License Its Electric Skateboard? (Batteries + Powertrain)

QUOTE
On Tesla's Q3 2019 conference call, Elon Musk said Tesla would be willing to sell or license its electric skateboard (batteries + powertrain) to other auto OEMs. Just a couple days later, on Fiat Chryslers earnings call, the company admitted it was considering sourcing batteries from Tesla. Volkswagen is also circling with rumors the company wanted to invest in Tesla to access its battery tech .... Do you think we are on the cusp of Tesla announcing a major battery deal with a legacy car company?

https://www.youtube.com/watch?v=7duZVk4ykUc

Tesla, Inc. (TSLA) Q3 2019 Earnings Call Transcript - extract
QUOTE
George Dailey -- Morgan Stanley -- Analyst

Great. And then, if I could just sneak in one more, so it's been over seven years since you launched the Model S. And many OEMs seem that they don't have the same commitment to battery electric vehicles that you do, and many don't even offer one right now. As your business model proves to be more sustainable, could we potentially see Tesla maybe supplying other OEMs with batteries or software or complete electric vehicle architectures maybe in an effort to accelerate mass adoption of sustainable transport?

Elon R. Musk -- Founder, Chief Executive Officer & Director

Yeah, I think there's -- it would be consistent with the mission of Tesla to help other car companies with electric vehicles on the battery and powertrain front, possibly on other fronts. So it's something we're open to. As a lot of people know, we open sourced our patents so that those would not serve as an obstacle to the adoption of electric vehicles or solar power or stationary storage. And we're definitely open to supplying batteries and powertrains and perhaps other things to other car companies.

https://www.fool.com/earnings/call-transcri...transcript.aspx
  Forum: Investment Discussion

blacksheep
Posted on: Nov 19 2019, 01:28 PM


Group: Member
Posts: 6,791

Up 10.19% today after upgrading it's earnings margin guidance. Also announced a renegotiated/extended supply agreement with Synlait
Total short positions as at 13/11/19 were 7.68% https://www.shortman.com.au/stock?q=a2m

FY20
• Overall, for FY20 we anticipate continued strong revenue growth across our key regions supported by brand and marketing investment in
China and the US and the development of both capability and infrastructure to support in-market execution
• As an outcome of strategic gross margin focus, full year EBITDA margin % is now anticipated to be stronger than previously communicated and in the
range of 29-30% with gross margin benefiting from:
− Improved price yield
− COGS reduction (including the effects of favourable FX)

1H20
• For 1H20, we anticipate revenue in the range of $780 million to $800 million with growth demonstrating strong performance against strategy:
− China label infant nutrition sales forecast to be approximately $135 million representing a growth rate of ~84%
− CBEC1
infant nutrition sales forecast to be approximately $155 million2
representing a growth rate of ~54%
− ANZ English label infant nutrition sales forecast to be approximately $350 million representing a growth rate of ~9%
− US sales forecast to be approximately $27 million representing a growth rate of ~110%
− Australia fresh milk sales forecast to be $75 million representing a growth rate of ~12%

• EBITDA margin % in 1H20 is expected to be higher than FY20 and in the range of 31-32% as a result of:
− Increased cost of goods (including lactoferrin and packaging materials) in 2H20 and increased levels
of strategically important trade marketing activation in China
− Phasing of marketing and capability investment slightly weighted to 2H20; full year marketing
investment expected to be approximately $200 million


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  Forum: By Share Code

blacksheep
Posted on: Nov 19 2019, 01:04 PM


Group: Member
Posts: 6,791

Rare earth mineral deal inked by US and Australia — what does that mean?
Key points:
QUOTE
China produces the lion's share of rare earths, which power the modern world
Australia and the US will now collaborate on critical mineral production
Extracting these mineral types s hazardous for health and the environment

read more - https://www.abc.net.au/news/2019-11-19/aust...-by-us/11716726
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  Forum: Investment Discussion

blacksheep
Posted on: Nov 19 2019, 12:46 PM


Group: Member
Posts: 6,791

Indonesia hopes for environmental nod soon for battery-grade nickel plants
Reuters | November 18, 2019
QUOTE
Indonesia’s coordinating minister who oversees mining said on Monday he hoped environmental impact studies for factories to produce battery-grade nickel chemicals would be completed by the end of the year.

The studies, known as AMDAL, need to be completed and approved by the environment ministry before investors can proceed, such as China’s stainless steel giant Tsingshan Group which aims to build a high pressure acid leaching (HPAL) plant.

Asked whether the AMDAL would be issued before the end of 2019, the minister Luhut Pandjaitan said: “We hope so.”

He said investment plans for plants producing chemicals from nickel laterite were worth $3.2 billion, including the plant planned by Tsingshan and another planned by Indonesia’s Harita Group.

The government was revising a rule on managing waste from HPAL plants, Pandjaitan said, saying that the aim was to have this finalised within a month.

Indonesia wants to become a global hub for producing and exporting electric vehicles (EVs) to Asia and beyond, starting by processing its rich supplies of nickel ore into battery chemicals before it starts building EVs.

The country will stop exporting nickel ore from January 2020, two years earlier than originally planned, in order to handle processing at home.

Pandjaitan said the government would also issue a new rule to allow the import of used lithium battery components to be recycled into a new batteries in Indonesia.

(By Wilda Asmarini and Fransiska Nangoy; Editing by Edmund Blair)

https://www.mining.com/web/indonesia-hopes-...-nickel-plants/
  Forum: Investment Discussion

blacksheep
Posted on: Nov 19 2019, 12:45 PM


Group: Member
Posts: 6,791

Indonesia hopes for environmental nod soon for battery-grade nickel plants
Reuters | November 18, 2019
QUOTE
Indonesia’s coordinating minister who oversees mining said on Monday he hoped environmental impact studies for factories to produce battery-grade nickel chemicals would be completed by the end of the year.

The studies, known as AMDAL, need to be completed and approved by the environment ministry before investors can proceed, such as China’s stainless steel giant Tsingshan Group which aims to build a high pressure acid leaching (HPAL) plant.

Asked whether the AMDAL would be issued before the end of 2019, the minister Luhut Pandjaitan said: “We hope so.”

He said investment plans for plants producing chemicals from nickel laterite were worth $3.2 billion, including the plant planned by Tsingshan and another planned by Indonesia’s Harita Group.

The government was revising a rule on managing waste from HPAL plants, Pandjaitan said, saying that the aim was to have this finalised within a month.

Indonesia wants to become a global hub for producing and exporting electric vehicles (EVs) to Asia and beyond, starting by processing its rich supplies of nickel ore into battery chemicals before it starts building EVs.

The country will stop exporting nickel ore from January 2020, two years earlier than originally planned, in order to handle processing at home.

Pandjaitan said the government would also issue a new rule to allow the import of used lithium battery components to be recycled into a new batteries in Indonesia.

(By Wilda Asmarini and Fransiska Nangoy; Editing by Edmund Blair)

https://www.mining.com/web/indonesia-hopes-...-nickel-plants/
  Forum: Macro Factors

blacksheep
Posted on: Nov 19 2019, 12:43 PM


Group: Member
Posts: 6,791

J Capital Research appears to have raised it's head again, seeking a number of explanations from WTC following their AGM

Questions for management at today’s AGM Full report at http://www.jcapitalresearch.com

Total short positions as at 13/11/19 = 2.43%
https://www.shortman.com.au/stock?q=wtc


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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 09:07 PM


Group: Member
Posts: 6,791

Canavan revives carbon capture in new effort to underpin coal generators
Michael Mazengarb1
QUOTE
As reported by the Australian Financial Review, representatives from oil and gas company Santos, and coal miner Glencore have met with Prime Minister Scott Morrison and advocated for carbon capture and storage projects to receive financial support under the $2 billion Climate Solutions Fund.

The push to invest in carbon capture and storage projects appears to have the backing of resources minister Matt Canavan, who confirmed that financial support for such projects was under active consideration by the Morrison government.

Two of Morrison’s closest advisors are the former CEO and deputy CEO of the Mineral Council of Australia, the principal coal lobby in Australia which also supports CCS, even though projects to date have been hugely expensive and not very effective.

“We are looking into this. We have put a lot into CCS and we are looking at the next steps,” Canavan told the Financial Review.

Carbon capture and storage technologies have already received substantial financial support from the Australian government – around $500 million – but almost nothing has been delivered in terms of actual emissions reduction.

Companies like Glencore and Santos see carbon capture as a technology that would enable coal, oil and gas industries to continue while supporting efforts to limit global warming.

read more - https://reneweconomy.com.au/canavan-revives...nerators-54900/

Michael Wests Top 40 Tax Dodgers shows Glencore paid "zero" tax. https://www.michaelwest.com.au/tax-dodgers/
  Forum: Macro Factors

blacksheep
Posted on: Nov 18 2019, 08:53 PM


Group: Member
Posts: 6,791

They've had ta previous crack at listing - ran into a few issues with ASIC on the first attempt. From the chart below you can see the IPO got sold down at the open

Prospa takes second crack at IPO after 12-month delay, targeting valuation of $610 million
STEPHANIE PALMER-DERRIEN / Friday, May 17, 2019
extract
QUOTE
SME lending startup Prospa is having a second go at its IPO, after an initial run-in with the Australian Securities and Investments Commission (ASIC) led to a 12-month delay.

Prospa is expected to list on the ASX on June 11, and is targeting a $109.6 million raise, which would value the startup at $609.9 million.

According to the startup’s prospectus, $60 million will come from a primary raise, and the remaining $49.6 million will allow existing shareholders to exit, if they wish.

New shareholders will hold 13.9% of shares in the company, the prospectus adds.

The new listing date is almost exactly a year after Prospa originally planned to go public, on June 6, 2018. Originally, the IPO was pegged to raise $146 million, valuing the business at $576 million.

But, the startup announced a 48-hour delay at the last minute, after ASIC raised a query into its small-business loan terms.


https://www.smartcompany.com.au/startupsmar...-ipo-valuation/
  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 07:50 PM


Group: Member
Posts: 6,791

Chart

No short data available- https://www.shortman.com.au/stock?q=pgl
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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 07:21 PM


Group: Member
Posts: 6,791

AGM on 27/11/19 - should be a cracker biggrin.gif

Harvey Norman set for fiery AGM as investors arc up over directors, pay
QUOTE
The peak body for Australian retail investors has accused $5.2 billion retailer Harvey Norman of failing to listen to minority shareholders, with the company likely to face a rare vote on whether to spill its board at its upcoming annual general meeting.

Australian Shareholders' Association (ASA) representative Pamela Murray-Jones also labelled the ongoing commentary about chief executive Katie Page a "red herring", imploring investors to focus instead on the key issues of governance and culture at the business.

Issues at Harvey Norman have been drawn into focus over recent days following a recommendation from prominent proxy adviser Ownership Matters to appoint non-endorsed candidate Stephen Mayne as a board member on the retailer's board.

This prompted chairman Gerry Harvey to hit back at proxy firms, calling for regulators to investigate the sector and accusing large shareholders of blindly following their directions.

read more - https://www.smh.com.au/business/companies/h...118-p53bmg.html

Total short positions as at 12/11/19 = 7.82%
https://www.shortman.com.au/stock?q=hvn

5 year chart

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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 07:06 PM


Group: Member
Posts: 6,791

5-year chart
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  Forum: NZX

blacksheep
Posted on: Nov 18 2019, 07:03 PM


Group: Member
Posts: 6,791

ASX keeping up the pressure - another round of "difficult" question answered today ->>>> https://www.asx.com.au/asxpdf/20191118/pdf/...nxr9lkyll41.pdf

ASX wrests answers from iSignthis on offshore links
Jonathan Shapiro and Vesna Poljak
QUOTE
Payments unicorn iSignthis has disclosed that contracts with offshore entities that ASIC has warned could be operating trading scams helped it achieve a key historical revenue target.


QUOTE
In a lengthy examination of iSignthis' links to offshore providers of online contracts for difference, cryptocurrencies and other trading services, iSignthis confirmed that it has had agreements with a mysterious Australian entity called Corp Destination Pty Ltd, Marshall Islands-registered FCorp Services Ltd and Nona Marketing Ltd, and the Czech-registered IMMO Servis Group.

These four companies contributed $3.5 million, or up to 63 per cent, of the revenue generated by iSignthis in the half ending June 30, 2018.

read more - https://www.afr.com/markets/equity-markets/...20191118-p53bjb

QUOTE
]Nona Marketing Ltd[/b]
ABCDEFGHIJKLMNOPQRSTUVWXYZ#
ASIC advises this company could be involved in a scam. Do not deal with this business as it is unlicensed in Australia.

The business listed below has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC.

More information on dealing with investment scams and banking and credit card scams.

Nona Marketing Ltd
also known as FTO Capital


Ajeltake Road Ajeltake Island Majuro
Marshall Islands

P: +44 2080682565
cs@ftocapital.com
http://www.ftocapital.com


https://www.moneysmart.gov.au/scams/compani...a-marketing-ltd

https://scambroker.com/fto-capital/

Melbourne investors stung in global foreign exchange scam
Herald Sun-19 Jun 2018
They were contacted on their mobiles by shysters claiming to be from a company called FTO Capital, and lost their money after being promised
  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 02:50 PM


Group: Member
Posts: 6,791

Interesting comments - "in the event the moratorium is lifted." - Letter to Eligible Retail Shareholders re: Entitlement Offer

Why is the Entitlement Offer being conducted so soon after the announcement of a
moratorium on hydraulic fracturing in the UK?


The Board believes that conducting the entitlement offer is in shareholders’ best interest
despite the current regulatory headwinds. It was always the intention of the company to
undertake an Entitlement Offer after the completion of the debt refinancing process. As noted
above, cash flows from LDS will be used within the business and to service and pay down the
new debt facilities. Accordingly, the majority of cash proceeds from the Entitlement Offer will
allow the Company to meet its funding commitment to Cuadrilla and strategically position AJ
Lucas for rapid operational delivery in the event the moratorium is lifted.


What if the moratorium isn't lifted?
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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 02:26 PM


Group: Member
Posts: 6,791

Ooops - you're right - wrong Silver Lake. My bad.

https://www.shortman.com.au/stock?q=slr
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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 02:00 PM


Group: Member
Posts: 6,791

GXY channelling SYR? "Plan to prioritise value over volume"

GXY 2nd most shorted on Shortmans Top 100 with 16.19% - SYR currently number 1, with 17.71%
https://www.shortman.com.au/top

QUOTE
MT CATTLIN – RECORD 2019, WITH 2020 MINE PLAN TO PRIORITISE VALUE OVER VOLUME
Galaxy has demonstrated operational excellence at Mt Cattlin in 2019 with a record production volume, operating cost and product
quality. Mt Cattlin is a stable and reliable operation currently positioned as one of the lowest cost spodumene producers

In 2020, Galaxy will implement a lower activity mine plan focused on reducing volumes and costs to maintain positive cash margins
and preserving resource life. Production and existing inventory will be sufficient to satisfy contracted commitments and additional
product demand in 2020. Production can be ramped up swiftly and efficiently should market conditions materially improve.

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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 01:47 PM


Group: Member
Posts: 6,791

In a Trading Halt - another cap raise - apparently a "material" cap raise.

The last cap raise was undertaken just a few months ago - on 12 August 2019. That CR was "at an issue price of $0.032 per share, representing an 8.4% premium to the 30-day VWAP and a 3% discount to the 10-day VWAP up to and including 8 August 2019."

MEI also pointed out at that time they were "fully funded" sadsmiley02.gif

QUOTE
Meteoric now fully funded for an expanded drilling program
• Expanded program will enable two exploration teams to be working concurrently on Juruena and Novo Astro


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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 01:35 PM


Group: Member
Posts: 6,791

Afterpay's PR guy gifted 800,000 reasons to defend it

QUOTE
While Clegg’s spin shop Cato & Clegg is a consultant to Afterpay, and charges fees accordingly, Clegg received options reserved for “employees of the Group under the Company’s Employee Incentive Plan.” In all our days in journalism, and before it corporate affairs, we’ve never seen nor heard of anything like it.

The outstanding questions are manifold. Why would Afterpay's board issue employee share options to a non-employee? Why would it issue share options to a consultant whose firm it's already paying in cash for services? Indeed, why weren't the options issued to Cato & Clegg rather than Clegg personally? And all in exchange for what?!

https://www.afr.com/rear-window/afterpay-s-...20191117-p53bdb
https://www.shortman.com.au/stock?q=apt
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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 01:31 PM


Group: Member
Posts: 6,791

Transformational acquisition of 50% of Super Pit and A$796m equity raising
QUOTE
Underwrites Saracen’s future as one of Australia’s largest, longest life gold
producers with three mines in close proximity to Kalgoorlie
Not for release or distribution in the United States
18th November 2019

Saracen Mineral Holdings Ltd ACN 009 215 347 (ASX: SAR) (“Saracen” or “Company”) is pleased to announce that it
has entered into a binding sale agreement ("Sale Agreement") with Barrick Gold Corporation (“Barrick”) to acquire its
50% interest in the Kalgoorlie Consolidated Gold Mines Joint Venture (“KCGM JV”) through the purchase of 100% of the
shares in Barrick (Australia Pacific) Pty Limited (“Target”) for a price of US$750 million1 (the “Transaction”). KCGM JV
owns and operates the Super Pit gold mine in Kalgoorlie-Boulder, Western Australia.

The Super Pit is a large, high quality, long-life open-pit and underground gold mine located in the globally renowned
Golden Mile Region of Kalgoorlie-Boulder, Western Australia. The Golden Mile has produced in excess of 60Moz of
gold. The Super Pit is a large scale operation with 490koz of gold produced in FY20192 (100% basis), making it one of
the largest gold mines in Australia.

Newmont Goldcorp Corporation (“Newmont Goldcorp”), the world’s leading gold company, will be Saracen’s joint
venture partner at the Super Pit and will retain its 50% ownership interest in the KCGM JV and operatorship of the
Super Pit.
Saracen intends to raise approximately A$796 million (“Equity Raising”) via an underwritten institutional placement and
an underwritten 1 for 5.75 pro-rata accelerated non-renounceable entitlement offer to partly fund the Transaction. The
balance of the purchase price will be funded from a new A$450 million senior secured term loan.

Transaction Highlights
 Acquisition consistent with Saracen’s strategic objective to “future proof the business”
 Large scale, long life, Tier 1 gold mine with 7.3Moz3 non-JORC Ore Reserves (based on NI 43-101
guideline) representing a Reserve life of ~12 years, at historical production rates
 During the 5 year period to FY2019, Super Pit has produced on average ~660koz per annum at an all-in
sustaining cost (AISC4) of ~A$1,100/oz
 First class joint venture partner in Newmont Goldcorp, who has extensive knowledge of the asset and
significant experience in open-pit and underground operations
 Proven operation with world-class infrastructure and strong focus on safety and environmental
stewardship
 Successful track record of replacing and growing Resources and Reserves
Further growth in the mine life underpinned by a large Resource base and outstanding exploration upside
 Establishes Saracen as one of Australia’s largest gold producers with three mines in close proximity to
Kalgoorlie, anticipated to produce in excess of 600koz per annum5, with combined Reserves of ~7.0Moz6
underpinning a +10 year group mine life
 Highly accretive acquisition for Saracen shareholders across a broad range of metrics including earnings
per share, cash flow per share and net asset value per share. It is also accretive on an EV / Resource and
EV / Reserve basis



QUOTE
Investors have been offered the chance to subscribe for more Saracen shares at $2.95 per share; a 13 per cent discount to Saracen's last traded price on Friday.


https://www.afr.com/companies/mining/superp...20191118-p53bhi

Total short position as at 11/11/10 = 7.96%
https://www.shortman.com.au/stock?q=sar

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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 01:22 PM


Group: Member
Posts: 6,791

Chart
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  Forum: By Share Code

blacksheep
Posted on: Nov 18 2019, 01:19 PM


Group: Member
Posts: 6,791

Couple of charts - 1 x 6 month, 1 x 12 months
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  Forum: By Share Code

blacksheep
Posted on: Nov 16 2019, 09:08 PM


Group: Member
Posts: 6,791

US QUARTZ SAND FACTORY PLANNED FOR TOWNSVILLE
QUOTE
High purity quartz sand and graphene used in the production of solar panels and electronics could be produced in a factory at Townsville port if the plans of a US company are realised.
Graphene & Solar Technologies Ltd wants to develop a $300 million advanced technology manufacturing hub, called Global Advanced ..

https://www.townsvillebulletin.com.au/

Graphene & Solar Technologies Limited (formerly known as Solar Quartz Technologies Corporation)

Solar Quartz Technologies Announces a Joint Venture Agreement with NanoGraphene, Inc., a high-level manufacturer of Graphene, as well as a change of the SQTX Company name to Graphene & Solar Technologies Ltd

QUOTE
About Solar Quartz Technologies Corporation.

High Purity Silica Quartz (HPQ) assets are rare globally, and are essential as primary feedstock for the production of High Purity Quartz Sand, an essential primary material necessary in the first stage production of high-tech Photo-Voltaic (PV) solar panels, semi-conductors, fiber optical cables, halogen lamps, HD and LCD television screens, and Epoxy Molding Compounds (EMC). Due to its sole ownership of the solar assets SQTX has significant cost advantages compared to traditional HPQ manufacturers in Norway, Russia and North Carolina.

SQTX is the sole owner of the two High Purity Quartz Silica deposits known as White Springs and Quartz Hill, located in Far North Queensland, Australia, which together, contain in excess of 15 million tons of 99.5%+ pure HPQ deposits, that is in high demand in the global marketplace as feedstock in the production of High Purity Quartz Sand (HPQS), and also in much demand in the high-end electronics manufacturing industry. The company is also seeking funds to build a new commercial scale HPQ pre-processing factory to generate early sales revenues from un-processed HPQ sales to China. Concurrently, it intends to proceed with the development of the second stage factory for processing this feedstock into High Purity Quartz Sand to supply manufacturers of PV solar panels and other high-end technology applications.

"The SQTX management team will initially focus on re-establishing previous $150 million orders from China, and orders for unprocessed HPQ raw quartz, to be delivered from the pre-processing factory in the major port in Townsville, North Queensland, Australia,” said the Houston TX-based Company CEO, Warren Dillard.
  Forum: Macro Factors

blacksheep
Posted on: Nov 16 2019, 08:08 PM


Group: Member
Posts: 6,791

QUOTE
How big a risk is a global economic recession?

Recently, hopes of a fledgling growth turnaround were doused by data showing China’s factory output growth slowing in October and Japan’s economy grinding to a standstill in Q3. And Germany only narrowly avoided a recession in that period.

Cue “flash” PMIs due on Nov. 22 from Japan and the euro area; numbers widely regarded as a forward-looking indicator of economic health.

October PMIs pointed to some stabilization, raising expectations that hefty central bank easing had helped the global economy to bottom out.

On the flip side, Sino-U.S. trade uncertainty drags on, making it harder to call a turnaround in the data. No wonder then, that after weeks of heavy selling, government bond yields are heading down again.

Yet European Central Bank Vice President Luis de Guindos said on Thursday risks of a European recession were “very low”. The PMIs might bear that out — or not.


Global manufacturing PMIs - here https://www.reuters.com/article/us-global-m...s-idUSKBN1XP1KT
  Forum: Investment Discussion

blacksheep
Posted on: Nov 16 2019, 07:59 PM


Group: Member
Posts: 6,791

New Graphite Processing Facility Opens In Mesa, Arizona USA
QUOTE
Once the facility has been completed, Urbix Resources will be one of the largest graphite purifiers in North America. The company takes an eco-friendly approach, avoiding the harsh chemicals and other non-environmentally friendly techniques used in the traditional methods to purify graphite. Urbix is the only company in the world that uses this greentech graphite purification method for lithium batteries used to store energy for electric cars and other uses.

"This is a fantastic moment in our young history. To see how this relatively small facility of just 31,000 square feet will have such positive impact in the U.S.'s Energy Storage Critical Mineral Strategy, and also in the world, is super motivating and exciting," Urbix Resources Chairman and Co-Founder Nico Cuevas said. "This is a huge milestone for us and we have plenty more work to do. We have an incredible team at Urbix and amazing support from the City of Mesa, the region and the state of Arizona."

In support of its eco-friendly approach, Urbix Resources was named Cleantech Open's Best Business Model in 2017. Cleantech runs the world's largest clean technology accelerator program, with the mission to find, fund, and foster entrepreneurs with ideas to solve our greatest environmental and energy challenges.

For more information about Urbix, visit www.urbixresources.com.

Urbix has agreements with a couple of ASX listed graphite companies - BSM and BAT

QUOTE
Bass Metals eyes downstream graphite joint venture
Published date: 30 September 2019

Australia-based Bass Metals has entered into an initial agreement with US-based Urbix Resources to develop downstream graphite products.

The agreement will see the two companies work over the next six months to set up a joint venture for the processing of high-grade graphite from Bass' Graphmada mine in Madagascar into value-added downstream graphite products, including expandable graphite.

The proposed joint venture will combine Bass' high-grade large flake resources with Urbix's environmentally-friendly purification methodology that is not reliant on hydrofluoric acid treatments.

Urbix is building one of North America's largest natural graphite purification facilities at Mesa in Arizona. It is also working with Hanoi-based Vietnam Graphite to build a purification plant in Vietnam.

The Graphmada mine produced 745t of natural graphite in July and August and is expected to produce over 1,000t in the July-September quarter. Graphmada has a mineral resource of 3.5mn t grading 4.2pc total graphitic carbon estimated to contain 146,000t of graphite within the Loharano and Mahefedak deposits.

Bass Metals has announced an exploration target of 86mn-146mn t of additional mineral resources likely to contain 4.1mn-8.4mn t of contained graphite. This comprises a target of 13mn-23mn t of soft easy to mine saprolitic graphite resources contained 600,000-1.3mn t of graphite and a 73mn-123mn t mineral resource of primary graphite material potentially containing 3.5mn-7.1mn t of graphite.

https://www.argusmedia.com/en/news/1986127-...kToResults=true


QUOTE
Australia-based Battery Minerals has signed an agreement with Urbix for graphite processing joint venture in Mozambique.

The Memorandum of Understanding (MOU) signed by the two companies lays the foundation for establishing the development of a graphite purification facility in Mozambique.

Under the terms of the agreement, both the companies will complete all necessary feasibility study work for the proposed JV purification facility.

It is expected that the facility would source graphite concentrate from Battery Minerals’ advanced Montepuez project in the Cabo Delgado province of northern Mozambique, and potentially toll-treat graphite from other mines in the region using Urbix’s proprietary purification method.

The American graphite processing specialist has been a long-time technology partner of Battery Minerals and specialises in the refinement and purification of natural graphite and advanced graphite derivatives.

Battery Minerals managing director Jeremy Sinclair said: “There is overwhelming evidence that the demand for graphite is going to soar as the take-up of lithium batteries gains speed.

“The proposed processing JV with Urbix is aimed at ensuring we are well-positioned to capitalise on the demand for not only graphite concentrate but also the higher-margin processed product which is essential to the battery manufacturers.”

Since December 2017, both companies have been working on a strategy to combine Urbix technologies with Battery Minerals’ graphite concentrates to generate graphite products for the refractory, composites, lithium-ion and nuclear markets.

Battery Minerals owns two graphite deposits in Mozambique

Battery Minerals has two graphite deposits in Mozambique, that include Montepuez and Balama Central.

Subject to securing project financing, the company intends to begin graphite flake concentrate production from its Montepuez graphite project at a rate of 50,000tpa at an average flake concentrate grade of 96% TGC.

In December 2017 and January 2018, four binding offtake agreements were signed by the company for up to 41,000tpa of graphite concentrate, representing more than 80% of the estimated annual production of Montepuez

https://www.argusmedia.com/en/news/1986127-...kToResults=true
  Forum: By Share Code

blacksheep
Posted on: Nov 16 2019, 07:28 PM


Group: Member
Posts: 6,791

QUOTE
Not sure why they would pick SLR as a shorting stock , they are producing gold, their forward P/E is under 13, and are expecting production to be in the upper end of guidance.
maybe they know something we don't.


Shorters may have anticipated this - a CR north of $600m (reported in AFR)

QUOTE
Silver Lake's Thunder Finco is seeking to raise north of $600 million and has turned to the US Term Loan B market.

The funding is split into a $US285 million ($416 million) first lien term loan, $US100 million in second lien money and a revolver and capex facility expected to be worth about another $US50 million

https://www.afr.com/street-talk/funding-pit...20191115-p53ays

Another notable short alert on Thursday Total short positions as at 11/11/10 = 6.99%

QUOTE
Thu 14th Nov, 2019 4,215,727 819,800,012 0.51% 70.01%


https://www.shortman.com.au/stock?q=slr
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  Forum: By Share Code

blacksheep
Posted on: Nov 16 2019, 07:14 PM


Group: Member
Posts: 6,791

BATTERY RAW MATERIALS MARKET REPORT 15/11: Cobalt hydroxide payables edge lower on limited restocking interest in China
An overview of the battery raw materials markets and their latest price moves.
November 15, 2019
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  Forum: Investment Discussion

blacksheep
Posted on: Nov 16 2019, 07:09 PM


Group: Member
Posts: 6,791

Rio Tinto to pay $221m to fund Ranger uranium mine closure
Reuters | November 15, 2019
QUOTE
Rio Tinto said it will subscribe to $221 million rights shares of Energy Resources of Australia Ltd (ERA), which has been desperately seeking funds to close and rehabilitate a controversial uranium mine.

The world’s second-biggest listed miner, which has a 68.4% stake in ERA, also said it will fully underwrite ERA’s A$476 million ($326 million) equity fundraising, after the uranium miner failed to secure someone else willing to do so.

Shares of ERA slumped 22.5% to A$0.190 on Friday, their lowest in almost five months, in a broader market that was up around a percent.

ERA has been looking to raise money to fund the closure and rehabilitation of the Ranger project in Australia’s Northern Territory after it ran into controversy due to its proximity to the Kakadu National Park – the country’s largest.

The Australian Government has documented more than 200 environmental incidents at the mine between 1979 and 2003.

ERA said it has been working closely with Rio for a funding solution after flagging, earlier this year, a higher-than-expected rehabilitation provision for the Ranger project which it could not cover.

“We take mine closure very seriously and ensuring ERA is able to fund the closure and rehabilitation of the Ranger Project Area, through participating in this entitlement offer, is a priority,” Rio’s group executive for energy and minerals, Bold Baatar, said in a statement.

ERA has until January 2021 to end mining activities, and until January 2026 to complete rehabilitation of the area. The rehabilitation work will not lead to any returns for ERA.

ERA was the target of some of the biggest environmental protests across Australia in 1998, including an eight-month blockade and 500 arrests, after the local indigenous Mirarr people opposed its planned development of the nearby Jabiluka concession on the fringe of the Kakadu rainforest.

($1 = 1.4588 Australian dollars)

(By Nikhil Kurian Nainan and Melanie Burton; Editing by Muralikumar Anantharaman and Himani Sarkar)

https://www.mining.com/web/rio-tinto-to-pay...m-mine-closure/
  Forum: By Share Code

blacksheep
Posted on: Nov 16 2019, 07:09 PM


Group: Member
Posts: 6,791

Rio Tinto to pay $221m to fund Ranger uranium mine closure
Reuters | November 15, 2019
QUOTE
Rio Tinto said it will subscribe to $221 million rights shares of Energy Resources of Australia Ltd (ERA), which has been desperately seeking funds to close and rehabilitate a controversial uranium mine.

The world’s second-biggest listed miner, which has a 68.4% stake in ERA, also said it will fully underwrite ERA’s A$476 million ($326 million) equity fundraising, after the uranium miner failed to secure someone else willing to do so.

Shares of ERA slumped 22.5% to A$0.190 on Friday, their lowest in almost five months, in a broader market that was up around a percent.

ERA has been looking to raise money to fund the closure and rehabilitation of the Ranger project in Australia’s Northern Territory after it ran into controversy due to its proximity to the Kakadu National Park – the country’s largest.

The Australian Government has documented more than 200 environmental incidents at the mine between 1979 and 2003.

ERA said it has been working closely with Rio for a funding solution after flagging, earlier this year, a higher-than-expected rehabilitation provision for the Ranger project which it could not cover.

“We take mine closure very seriously and ensuring ERA is able to fund the closure and rehabilitation of the Ranger Project Area, through participating in this entitlement offer, is a priority,” Rio’s group executive for energy and minerals, Bold Baatar, said in a statement.

ERA has until January 2021 to end mining activities, and until January 2026 to complete rehabilitation of the area. The rehabilitation work will not lead to any returns for ERA.

ERA was the target of some of the biggest environmental protests across Australia in 1998, including an eight-month blockade and 500 arrests, after the local indigenous Mirarr people opposed its planned development of the nearby Jabiluka concession on the fringe of the Kakadu rainforest.

($1 = 1.4588 Australian dollars)

(By Nikhil Kurian Nainan and Melanie Burton; Editing by Muralikumar Anantharaman and Himani Sarkar)

https://www.mining.com/web/rio-tinto-to-pay...m-mine-closure/

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