Proactiveinvestors RSS feed en Tue, 21 Aug 2018 10:09:22 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Australian gold shines in global spotlight after launch of physical gold ETF in New York ]]> Australia’s gold industry is shining brighter on the world stage with the launch by The Perth Mint in New York this week of the first exchange-rated fund with sovereign-backed gold.

Trading of The Perth Mint Physical Gold ETF (NYSE Arca:AAAU) started on Wednesday in the US and is Australia’s first gold ETF to be traded on the New York Stock Exchange.

This development will provide a direct path for Australian-mined gold to be sold into the world's largest financial market.

Collaboration from specialist parties

The Bank of New York Mellon has been appointed as the fund’s trustee with the leading US-based investment advisory firm Exchange Traded Concepts as its administrative sponsor.

Each AAAU share represents ownership of 1/100th of an ounce of gold which is secured by physical gold stored by The Perth Mint, which is owned by the Government of Western Australia.

A key feature is that shareholders may redeem shares for physical gold at any time.

Select gold from The Perth Mint’s range

This can be selected from The Perth Mint’s extensive range of bullion bars and coins and can be delivered to the shareholder’s door.

AAAU will also pay its expenses in gold ounces, thus minimising potential tracking errors to the gold price.

The ETF will also promote the potential investment benefits of gold, one of Australia's most valuable and important export commodities.

Hedge against volatility

The Perth Mint’s CEO Richard Hayes said that gold still had a role to play as a hedge against volatility.

“We live in an increasingly turbulent world,” he said, “and that provides a place for safe haven and very secure assets, of which gold is one.”

He said that while the initial focus was on North American investors, given the NYSE listing, “it will go in time with Aussie investors too”.

Market for Australian gold

Hayes said the initiative was in line with the mint’s aim to create markets for Australian gold.

“This is just another way of taking that same product, but selling it in a different way to perhaps a different demographic of investor.”

Founded in 1899 in the wake of the Kalgoorlie and Coolgardie gold rushes, the mint now processes more than 90% of the gold mined in Australia.

“Australian gold has an international reputation for purity and ethical sourcing, with investors integrally participating in the success of a great Australian story,” Hayes added.

Fri, 17 Aug 2018 15:50:00 +1000
<![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro tips the next hot sector ]]> Fri, 17 Aug 2018 12:20:00 +1000 <![CDATA[News - Investment opportunities presented at next week’s Proactive CEO Sessions ]]> Proactive Investors' CEO Sessions provide investors with an opportunity to learn about new companies and new investment opportunities and next week’s events in Sydney and Melbourne will feature four companies.

Altech Chemicals Ltd (ASX:ATC), Ventnor Resources Ltd (ASX:VRX), White Rock Minerals Ltd (ASX:WRM) and Po Valley Energy Limited (ASX:PVE) will present in Sydney on Monday, August 20, and in Melbourne on Tuesday, August 21.

There are still some seats available for the luncheon sessions and to secure your place, just visit our website and click on the Events link – click here.

READ: Altech Chemicals breaks ground in Malaysia as stage I high purity alumina plant work begins

Altech has started construction of its high purity alumina (HPA) plant in Malaysia and the company will provide an update.

The site for the plant in Johor has been cleared after Altech executed the stage I construction agreement with its appointed German contractor.

This was the first task in the detailed schedule of works for stage I construction.

READ: Ventnor Resources continues to make progress at Arrowsmith Silica Sand Project

Ventnor has been reinstated to official ASX quotation and managing director Bruce Maluish will outline the company’s new focus on silica sands through two pre-development projects in Western Australia.

Sufficient drilling has been undertaken to allow a JORC-compliant resource estimate to be compiled at each of the projects.

READ: White Rock Minerals hits high-grade zinc-silver-gold at Red Mountain

White Rock’s Red Mountain Zinc Project is attracting plenty of attention and managing director Matt Gill will explain why.

Red Mountain’s potential has drawn the interest of prolific Australian explorer Sandfire Resources NL (ASX:SFR), which has entered into an agreement with White Rock.


Po Valley Energy chairman Michael Masterman will outline the company’s promising oil and gas strategy centred on northern Italy.

Its primary focus is on the Selva Malvezzi gas field which it is seeking to advance to full commercial production.

Register today

Don’t miss the investment opportunities that each of these companies represents.

Register today to find out more.

Sydney details, Monday, August 20, 2018

Melbourne details, Tuesday, August 21, 2018

Or call John Phillips on (02) 9280 0700

Fri, 17 Aug 2018 12:05:00 +1000
<![CDATA[News - S&P Global Market Intelligence highlights 83% reduction in major copper discoveries ]]> S&P Global Market Intelligence has found only 140 million significant tonnes of copper were discovered in the last 10 years, a dramatic reduction on the 862.8 million tonnes defined in the 18-year period before the past decade.

Senior metals and mining research analyst Kevin Murphy noted only 29 significant discoveries were made worldwide in the last decade, compared to 191 made in 1990 to 2007.

Murphy said: “Although copper exploration budgets have fallen from an all-time high in 2012, spending on finding new copper reserves remains at historically high levels

“However, the increased funding has so far failed to identify more new discoveries compared with the previous period.”

The 83.8% reduction in tonnages between the two periods occurred despite a 114.5% increase in exploration expenditure between the junctions of 2008-2017 and 1990-2007.

A more than doubled sum of US$26.6 billion was served up for copper exploration over the decade that ended on December 31, compared to the US$12.4 billion spent over the preceding 18 years.

Lower risk, fewer tonnes

S&P flagged less grassroots exploration in the decade up to 2017, contributing to the decline in major discoveries.

Murphy highlighted junior explorers focusing on expanding established deposits and bigger players exploring at their existing operations.

He said: “Although some new major discoveries have been found at late-stage projects and existing mining camps, the potential to find new major discoveries at such projects is less likely than at riskier, early-stage prospects.”

The senior research analyst said: “In terms of the return in copper discovered for exploration dollars spent, the 1990s were a considerably more successful decade than the 2000s.

“Of the 220 major discoveries in the past 28 years, 106, or almost half, were made in the 1990s and contain half of the discovered copper.”

A PolarX core sample.

Step-up predicted

S&P predicted a 105 million tonne or 75% increase in the volume of discoveries for the decade starting in 2018.

Murphy said: “Even after adjusting for more recently identified deposits eventually surpassing our threshold for a major discovery and for major discoveries with potential to expand, we forecast that the copper in major discoveries will likely only increase to about 245 million tonnes over the next decade.”

S&P’s threshold of only including discoveries of more than 500,000 tonnes takes in reserves, resources and past production, with a few rare exceptions.

Despite S&P holding a better outlook for the next decade, the predicted tonnages of major discoveries would still only be 28.4% of those defined in the 1990-2007 period.

Still on the hunt

A number of companies on the Australian Securities Exchange are in the business of copper exploration.

These include PolarX Limited (ASX:PXX), Havilah Resources Ltd (ASX:HAV) (FRA:FWL), Great Boulder Resources Ltd (ASX:GBR), St George Mining Ltd (ASX:SGQ) (FRA:S0G), Aeris Resources Ltd (ASX:AIS), and Australian Mines Limited (ASX:AUZ) (FRA:MJH) (OTCMKTS:AMSLF).

Earlier today PolarX revealed it expected to increase copper, gold and silver resources at its Alaska Range project in Alaska.

The company had drilled visible copper sulphides and received strong high-grade, near-surface results from drilling at the Zackly deposit.

These included 55 metres grading 2.8 g/t gold, 0.6% copper and 9.4 g/t silver from 2.5 metres.

READ: PolarX hits high-grade gold and copper, Alaska Range resource increase expected

Havilah’s copper equivalent ore reserve at the wholly-owned Kalkaroo copper-cobalt-gold project in far-east South Australia is considered the largest in Australia.

The ore reserve is a significant 100.1 million tonnes grading 0.47% copper and 0.44 g/t gold.

Havilah is tipped to complete the project economics for its pre-feasibility study by the end of the year and divested its North Portia Copper-Gold Project to Broken Hill-based Consolidated Mining & Civil Pty Ltd (CMC) last month.

READ: Havilah Resources considers its options for copper-cobalt-gold project

Great Boulder is proving up the scale of the Mt Venn copper-nickel-cobalt asset in Western Australia with drilling and has encountered massive sulphides during the effort.

The company has encountered extensive sulphide mineralisation with first holes at the project’s Eastern Mafic complex over a 5 kilometre strike length.

Intervals have been shown to be up to 70% sulphide at the complex.

Drilling at Mt Venn is ongoing.

READ: Great Boulder Resources shares up 40% as it hits massive sulphides at Eastern Mafic

St George’s Mt Alexander Project in Western Australia is a recent nickel-copper sulphide discovery.

The 75%-owned project hosts the Cathedrals, Stricklands and Investigators prospects and is held in a joint venture by Western Areas Ltd (ASX:WSA) which has a 25% stake.

St George is conducting definition drilling at Mt Alexander where mineralisation is found 30 metres from the surface.

The company revealed last month it had drilled high-grade nickel-copper sulphides at the project’s Investigators prospect.

READ: St George Mining drills high-grade nickel copper sulphides at Investigators

Aeris called its June quarter its best for the 2018 financial year after producing 7,592 tonnes of copper in the period, an 11% increase on the previous quarter and the best quarterly it achieved in the financial year.

The company’s June quarter costs were $2.10 per pound for net direct cash costs and $2.79 per pound for all-in sustaining costs.

Aeris reported last month 28 anomalies had been discovered at the Torrens project in South Australia it holds in a joint venture with Argonaut Resources NL (ASX:ARE).

The discovery backed arguments the project area was highly prospective for iron-oxide copper-gold mineralisation.

READ: Aeris Resources identifies 28 anomalies at Torrens Copper-Gold Project

Australian Mines is currently undertaking a definitive feasibility study for its flagship Sconi project at the historic Greenvale mine in Queensland.

The company’s Sconi pre-feasibility study tipped average annual production of 3,010 tonnes of cobalt sulphate, 24,420 tonnes of nickel sulphate and 77 tonnes of scandium oxide for at least the first 20 years, with 0.11% cobalt, 0.81% nickel and 109 g/t scandium average feed grades.

Tue, 14 Aug 2018 22:03:00 +1000
<![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro shares fears over mortgage market ]]> Fri, 10 Aug 2018 12:20:00 +1000 <![CDATA[News - Diggers and Dealers Mining Forum focuses on growth, exploration and acquisitions ]]> Diggers and Dealers Mining Forum 2018 is done and dusted, but what were some highlights? We take a look.

Diggers chairman Nick Giorgetta opened the forum on the Monday after predicting a buoyant event in an interview with Proactive Investors.

Giorgetta said the event had proved buoyant and had matured into an international, professional event.

“There’s a lot of deals being made,” he said on Wednesday.

READ: Diggers and Dealers 2018 a ‘buoyant’ and ‘serious, relevant conference’ not about skimpies

The chairman acknowledged a number of companies had attracted buzz.

Giorgetta said: “There’s the standard companies that always perform well, companies like Evolution (Mining), Northern Star (Resources) because they come up with good results, good cash profits, good … reserves.

“Then there’s the emerging ones, that are really going to become the next line of producers – lithium, a few cobalt, just the companies that are not so much junior explorer but the would-be producer …they are popular.”

Keynote speaker and former Portugal prime minister José Manuel Barroso.

Barroso warns of protectionism

Giorgetta introduced keynote speaker José Manuel Barroso on Monday, a former prime minister of Portugal and ex-president of the European Commission.

Barroso said: “All of the advanced economies are giving a positive contribution to global growth.

“But there are some risks, and the more serious risk I see to global growth is the rise of protectionism.

“When I say protectionism I don't only mean the rise in tariffs and counter-tariffs, I also mean restrictions to cross-border investments and other restrictive measures.”

The Goldman Sachs International chairman believes protectionist government policies could hamper business sentiment and investment — with the US’s trade tariff protections and the UK’s Brexit momentum being two example of restrictive, anti-free-trade policies that could hamper the economic growth of global economies.

Acquire or explore?

One of the key questions big miners addressed was whether they were in to pick up new projects or explore for opportunities themselves.

Another question was whether miners should embrace the push to go big or offload at key times during the market cycle.

Northern Star Resources (ASX:NST) answer to the first question is both: acquire and explore.

The $4.57 billion company revealed it had poured $60 million into its budget for the 2018-19 financial year, ahead of Diggers.

Its goal is to turn a big chunk of 15.9 million ounces of resources into reserves to underpin its growth.

The company is hoping the strategy will deliver a similar outcome to its FY18 strategy, and result in guidance that tops the current estimate of 600,000 to 640,000 ounces a year and costs of $1,025-1,125 an ounce.

But the major is also on the hunt for tier 1 assets in tier 1 countries, a quest some critiqued.

READ: Diggers and Dealers Mining Forum outlook ‘optimistic’ as upturn continues

Resolute Mining Limited’s (ASX: RSG) John Welborn flagged his company was still interested in African opportunities and highlighted Sudan as a potential jurisdiction for investment.

He flagged the company was experiencing a major gold rush and 300,000 ounce a year assets were more likely to be found in African than mature jurisdictions.

Fortescue Metals Group (ASX:FMG) chief executive Elizabeth Gaines acknowledged the company’s recent acquisition activity in investment Atlas Iron Ltd (ASX:AGO) but indicated iron ore exploration in the Pilbara region and the company’s core iron ore business were its focuses going forward.

The Western Australian heavyweight sold-down a 19.9% stake in Atlas to 11.37% during Diggers.

Newcrest Mining (ASX:NCM) general manager exploration Fraser MacCorquodale declared the company “open for business in the exploration space”.

He pitched a pledge at juniors, saying: “If your project is stalled for mining or processing reasons, come and talk to us.”

"We're actively looking for new partners."

Kalgoorlie-Boulder's Exchange Hotel.

Grow or resist?

Evolution Mining (ASX:EVN) executive chairman Jake Klein indicated the $4.96 billion company was resisting a push to become very large.

He said the company was focused on capping the number of projects it managed at eight, believing gold companies weren’t scalable into big organisations with a large portfolio of assets in multiple jurisdictions.

Klein said: “This means a strong focus and discipline on upgrading the asset base by selling lower quality assets in the upturn and acquiring higher quality assets in the downturn.

“We have set ourselves a discipline of having no more than 6-8 assets reflecting the reality that selling assets is as important as buying them.”

Evolution currently has six projects and previously divested Edna May and Pajingo projects and picked up the Cowal and Mungari projects and a stake in Ernest Henry.

Diggers delegates typically take in presentations over a three-day period.

Diggers and dealers in the spotlight​

Award winners were once again recognised at the WesTrac Gala Dinner held on the last day of the forum.

Ausdrill Limited (ASX:ASL) founder and now former managing director Ron Sayers received the annual G.J. Stokes Memorial Award.

The Digger Award accolade went to Kirkland Lake Gold (ASX:KLA) (NYSE:KL) (FRA:NGDA) (TSE:KL) while Kidman Resources Limited (ASX:KDR) (FRA:6KR) (OTCMKTS:KDDRF) claimed Dealer Award and Metro Mining Ltd (ASX:MMI) (FRA:6ME) took Best Emerging Company.

Seven West Media Ltd (ASX:SWM) (FRA:WA7) WestBusiness resources reporter Stuart McKinnon meanwhile claimed the Media Award for his coverage in state newspaper The West Australian.

Western Australian plays on the up

Deloitte Touche Tohmatsu Limited launched its Deloitte 2018 Deloitte WA Index Special Edition at Diggers, highlighting a 26.8% growth in the value of Western Australia-based companies listed on the Australian Securities Exchange during the 2018 financial year.

The kick-up in market capitalisations put their collective closing value on June 30 at $193.5 billion value — the highest sum since May 2011.

Report author Dave Andrews wrote: “The ‘let’s just get on with it’ response this year has allowed many Western Australian companies to prosper.

“Battery metals, particularly nickel, cobalt and copper, and rare earths showed strong momentum on the excitement surrounding battery storage demand, the expanding electric vehicle (EV) market, renewables, and our hunger for more and more consumer technology.”

Data-driven earthmover renter Emeco Holdings Limited (ASX:EHL) (FRA:E3A) increased market capitalisation by $860 million or 341% to $1.113 billion while Lynas Corporation Ltd (ASX:LYC) (FRA:LYI) (OTCMKTS:LYSCF) (OTCMKTS:LYSDY) added $1.164 billion or 302% to end June 30 with a $1.55 billion market cap as Pilbara Minerals Limited (ASX:PLS) (FRA:PLR) (OTCMKTS PILBF).

The three companies were the top market cap movers in Deloitte’s WA Index top 20.

Within the WA Index top 100 movers, the three companies that had the biggest percentage gains in market cap values were: Tungsten Mining NL (ASX:TGN) which added $310 million or 3,141% to end with $320 milllion, Australian Mines Limited (ASX:AUZ) which gained $206 million or 643% to end with $238 million; and European Lithium Limited (ASX:EUR) which added $95 million or 469% to end at $115 million.

Fri, 10 Aug 2018 01:40:00 +1000
<![CDATA[News - Diggers and Dealers 2018 a ‘buoyant’ and ‘serious, relevant conference’ not about skimpies ]]> Diggers and Dealers Mining Forum chairman Nick Giorgetta says the annual forum has proved to be the buoyant event he had expected and organisers are planning to continue holding the event in the mining hub of Kalgoorlie-Boulder.

Giorgetta spoke to Proactive Investors at lunchtime, saying: “Everyone I’ve spoken to this morning is saying how buoyant the mood is and how everything is looking good for the industry.

“Everybody says there’s good vibes, there’s a lot of deals being made, a lot of good presentations to listen to – it’s a very good conference.

“The fact that we’ve got more than 2,300 people attending the conference – we’ve got something like 180-200 people from overseas – it just reinforces the fact that we have become an international conference.”

READ: Diggers and Dealers chairman expects ‘buoyant’ forum

Diggers and Dealers Mining Forum chairman Nick Giorgetta

The chairman noted a number of companies had attracted buzz.

“There’s the standard companies that always perform well, companies like Evolution (Mining), Northern Star (Resources) because they come up with good results, good cash profits, good … reserves,” he said.

“Then there’s the emerging ones, that are really going to become the next line of producers – lithium, a few cobalt, just the companies that are not so much junior explorer but the would-be producer …they are popular.”

READ: Diggers and Dealers mining forum outlook ‘optimistic’ as upturn continues

Delegates take in the experience of a Diggers and Dealers Mining Forum

Giorgetta said most attendees were already across the minerals they specialised in and were turning their attention to particular companies and presentations.

“Some people like the producers just coming up, some people like what they’ve heard about the reserves and want to buy,” he said.

“They try to isolate the companies that are doing the same thing and select the ones that are doing the best or have got no future.”

READ: Diggers and Dealers Mining Forum gold plays to make up 21% of presenters

Giorgetta said forum delegates were finding the Goldfields Arts Centre venue great and reaffirmed organisers were planning to continue to hold the annual event in the mining city of Kalgoorlie-Boulder.

“We will stay here,” he said.

“Everything is lovely, (delegates) are finding the people in Kalgoorlie, they’re really cooperative, they’re very friendly with them.

“Last night I was in a function and at least seven, eight people came to see me to say ‘are you sure you’re going to stay in Kalgoorlie with this conference because you’re really wanted here’.

“It’s great, it is at long last being recognised for (the value) to Kalgoorlie and the mining industry.”

The twilight experience of a past year's Diggers gala dinner. The WesTrac Gala Dinner will be held tonight in Kalgoorlie.

READ: Diggers and Dealers Mining Forum battery minerals companies to make 13% of presentations

Giorgetta expressed his frustration at what he called an “attempt to find a correlation between skimpies and the Diggers and Dealers forum”.

He argued instead the event had become a mature, relevant global conference.

“It’s about time people forget about that, people come to Kalgoorlie because it’s a great mining town, there’s many mines around here, we don’t come here for the skimpies and hotels,” Giorgetta said.

“Almost every year people try to relate Diggers and Dealers to the skimpies, and I think that’s totally unrelated.

The name of the main street of Kalgoorlie is a nod to gold prospector Paddy Hannan who helped start a gold rush.

“We come here just so we can send people to tours, they can see the mine, they can see the history of the town and the fact is there’s skimpies there.

“I haven’t seen one yet … and you can bypass them if it is a problem.

“I really want the media and everybody to get over this, the relationship between Diggers and Dealers and skimpies, it just doesn’t exist, it’s just a coincidence the skimpies are in the town where we hold the conference.

“People are still trying to relate it, and it just doesn’t make sense anymore, it is a serious, relevant forum and we want people to start seeing it that way.”

READ: ABC Bullion global manager predicts upcoming gold price movements ahead of Diggers and Dealers Mining Forum

The Esplanade Hotel in Kalgoorlie sits alongside the long-running Kalgoorlie Miner newspaper.

The chairman indicated the reception to mine site tours remained positive, like in the prior three years.

“Generally the ones who have not really seen much of the mines – they are invited … and they say it’s an eye-opener, they didn’t realise what’s involved,” he said.

Giorgetta said the forum would review the year ahead when putting together next year’s program and learn from this year while also taking suggestions.

“We just hope that the industry remains buoyant and that everything goes well for everybody in the next 12 months and then we look forward to all the stories next year,” he said.

“Generally the better the industry, the better the Diggers and Dealers of course, but even in bad times people come to look for bargains.

“It should be fine, I don’t see any downturns in the industry in the short term.”

Wed, 08 Aug 2018 02:30:00 +1000
<![CDATA[News - Diggers and Dealers Mining Forum battery minerals companies to make 13% of presentations ]]> Diggers and Dealers Mining Forum 2018 has begun and will welcome its first battery mineral plays to the stage this afternoon, as punters and companies alike consider the prospects for graphite, lithium, nickel and cobalt, among others.

Diggers and Dealers Mining Forum opener and chairman Nick Giorgetta, who gave the first presentation this morning, believes battery minerals have a positive outlook.

READ: Diggers and dealers mining forum outlook ‘optimistic’ as upturn continues

“Lithium, zinc, copper, they are all really emerging, almost unstoppable — all the battery metals,” Giorgetta told Proactive Investors last week.

“Production is going to come up, probably the prices — some of them will go up — although lithium has moved quite a bit already.”

The Diggers chairman acknowledged the current state of play for nickel and expressed his amazement at the price of shining star cobalt.

“Nickel hasn’t really reacted as much as it should but I think it will,” he said.

“Cobalt, well I think it’s still early, and everyone is looking for it, but cobalt is almost a precious metal at a price of $80,000, which is quite remarkable.”

Battery Minerals managing director David Flanagan

Monday battery mineral plays

Battery Minerals Ltd (ASX:BAT) (FRA:0FS) and its charismatic managing director David Flanagan will open battery metals proceedings with a 2.30pm session today half an hour before afternoon tea.

Flanagan also spoke to Proactive Investors last week and acknowledged shocks in the markets for miners and predicted the mining sector would be 15-20% better off in the next 12 months.

“We’re seeing underinvestment generally in infrastructure and exploration and new project development and, as soon as it’s given a chance the market realises, it’s going to be short in a whole bunch of strategic commodities,” he said.

READ: Diggers and Dealers chairman expects ‘buoyant’ forum

Battery Minerals upped its Elephant graphite resource by 14% last month at its Montepuez project in Mozambique.

The upcoming stage I 50,000 tonnes a year graphite flake project has a 20-year project life tipped to grow to about 100,000tpa with project stage II.

Flanagan told Proactive Investors: “Over the next five months we will complete construction of a 100-man camp, which is only about four weeks away.

“We’re going to complete all earthworks and civils in preparation for assembly of a processing facility and we’re going to have completed the tailings dam construction and all the associated roads and we’ll have installed power.”

Flanagan said the company was also completing a feasibility study for a second project in Mozambique, the Balama Central Graphite Project.

Speaking broadly, he said: “We’ve got exploration ongoing and we’ve also got some test work ongoing on downstream processing.

“The business is advancing (the Montepuez) construction project and will also be completing financing of that project.

“It’s not completely financed yet, we’ll complete that hopefully over the next six months and then on the back of that we’ll complete construction next year and then be exporting into hopefully a raging graphite market in early 2020.”

The company has been working on debt financing for the remainder of its Montepuez development costs and completed a $20 million capital raising in the June quarter.

It held $19 million cash on hand on July 20.

READ: Battery Minerals Ltd ups elephant graphite deposit by 14% at Mozambican Montepuez Project

A lithium ion battery

Tuesday battery mineral plays

Western Areas Ltd (ASX:WSA) (FRA:FX9) (OTCMKTS:WNARF) will take the stage on Tuesday at 12.25pm, just before lunch.

The nickel producer and base metals developer’s managing director and CEO Dan Lougher will deliver a presentation

Western Areas has experienced share price volatility with its exposure to nickel price fluctuations.

The company is in a joint venture with smaller play St George Mining Ltd (ASX:SGQ) which started drilling new massive sulphide nickel-copper targets at the Mt Alexander project last month.

The project is in the northeast of the Goldfields, home to the Diggers annual forum, and St George owns 75% while Western Areas retains 25% non-contributing interest until a decision to mine.

READ: St George Mining has drill bit spinning at new Mt Alexander massive sulphide nickel-copper targets

Mincor Resources NL (FRA:MV3) (FRA:MV3) managing director Peter Muccilli will then take the stage at 1.5pm after lunch.

Muccilli will deliver a talk titled Dawn of a New Nickel Era, a Powerpoint presentation the company has shared with the market this morning.

Mincor’s MD will highlight the “dominant” land position the company holds in the nickel-gold mining district of Kambalda, southeast of Kalgoorlie-Boulder in the Goldfields.

The miner, developer and explorer’s high-grade resources include 3.3 million tonnes at 3.6% nickel.

Mincor was holding $14.3 million cash on June 30.

READ: ABC Bullion global manager predicts upcoming gold price movements ahead of Diggers and Dealers Mining Forum

A number of companies are cooking up cobalt

Pilbara Minerals Ltd (ASX:PLS) (FRA:PLR) (OTCMKTS:PILBF) managing director and CEO Ken Brinsden will take the stage in Tuesday’s second-last presentation on the back of recent excitement for the company.

On Friday it revealed its definitive feasibility study (DFS) for stage II of its Pilgangoora Lithium-Tantalum Project in Western Australia had confirmed robust economics for the 5 million tonnes a year expansion of its capacity.

The DFS depicted a robust, high-margin operation with an initial 17-year mine life with life-of-mine revenue forecast of $12.2 billion and life-of-mine earnings before interest, tax, depreciation and amortisation of $6.3 billion.

The company’s February deal with proposed joint venture partner POSCO included agreement for the South Korean conglomerate to make an immediate $79.6 million equity investment in Pilbara Minerals.

READ: Pilbara Minerals confirms potential for major expansion of Pilgangoora Lithium Project

Independence Group NL’s (ASX:IGO) (FRA:IDZ) (OTCMKTS:IPGDF) managing director and CEO Peter Bradford will deliver the final presentation on Tuesday at 5pm ahead of the The Kal Tire Mining Traditional Bash in the sponsors marquee.

The high-profile Flinders Range company revealed last month it had upgraded its resource, with 96% of its nickel now in the measured category.

Independence’s total contained metal resource is 300,000 tonnes nickel, 109,000 tonnes copper, 9,000 tonnes cobalt and 2.2 million ounces gold at its operations.

The company is focused on its projects in Western Australia - the world-class wholly-owned Nova nickel-copper-cobalt operation and its Tropicana Gold Mine, which it owns a 30% stake in with a joint venture with Diggers company presentations opener AngloGold Ashanti Ltd (NYSE:AU) (JSE:ANG) (ASX:AGG).

The company achieved a 23% June quarter increase in nickel production at Nova, an operation it showed early Diggers arrivals at the weekend.

READ: Independence Group reveals upgraded resource with 96% nickel in measured category

Wednesday battery mineral plays

Global Geoscience Limited (ASX:GSC) (FRA:4G1) managing director Bernard Rowe will open battery minerals presentations at 9.45 just before morning tea, on the back of encouraging news released on Friday.

The company shared its pre-feasibility study for the Rhyolite Ridge Lithium-Boron Project in Nevada, in the US, finding the project could support 30 years of mining.

Global Geoscience also reported higher cash flow could be achieved in the earlier years by targeting higher grade lithium mineralisation at the North American project.

READ: Global Geoscience’s PFS confirms Nevada lithium-boron resource can support a 30-year mine life

Collerina Cobalt Ltd (ASX:CLL) technical director Rimas Kairaitas will conclude battery metals proceedings at 10.55am with a presentation on the company and shining star cobalt.

The company unveiled encouraging assays from a 1,668-metre field campaign in New South, finding high-cobalt tenor nickel-cobalt laterite mineralisation beneath shallow cover.

Among its highlight assays were: 32 metres at 0.26% cobalt, 0.52% nickel, 5.9% aluminium and 96 ppm scandium, including 6 metres at 0.69% cobalt, 0.73% nickel, 9.5% aluminium and 93 ppm scandium; and 11 metres at 0.27% cobalt, 0.54% nickel, 8% aluminium and 248 ppm scandium.

READ: Collerina Cobalt reveals high-grade cobalt discovery in New South Wales

Cobalt, aka Co

Diggers chairman Giorgetta will deliver the forum's final address on Wednesday before the 6.30pm The WesTrac Gala Dinner to be held in the sponsors marquee.

To view this year’s Diggers program, visit

Mon, 06 Aug 2018 02:10:00 +1000
<![CDATA[News - Diggers and Dealers Mining Forum gold plays to make up 21% of presenters ]]> Diggers and Dealers Mining Forum 2018 will welcome a pack of gold plays to the stage this week to speak about their companies and the precious metal. Here’s who’s going.

AngloGold Ashanti Ltd (NYSE:AU) (JSE:ANG) (ASX:AGG) Australia senior vice-president Michael Erickson will deliver the first company presentation on Monday morning during a session due to start at 10.45am.

READ: ABC Bullion global manager predicts upcoming gold price movements ahead of Diggers and Dealers Mining Forum

AngloGold finished commissioning for its Recovery Enhancement Project at Sunrise Dam Gold Mine on time in June.

Speaking on the development in July, Erickson said: “With a combination of innovation, strict capital discipline and incremental investment, we will see a significant step up in production and a reduction in our all-in-sustaining costs over time.”

“We are on an exciting improvement pathway at Sunrise Dam Gold Mine which will enable us to optimise the development of the world-class ore body and achieve sustainable cash margins over the life of mine.”

READ: Diggers and dealers mining forum outlook ‘optimistic’ as upturn continues

Sunrise Dam in Western Australia is about 200 kilometres from where Diggers takes place in Kalgoorlie-Boulder.

AngloGold is experiencing leadership change at the top level, with outgoing chief executive Srinivasan ‘Venkat’ Venkatakrishnan due to finish at the end of the month.

Venkatakrishnan will be replaced by current Barrick Gold Corporation president Kelvin Dushnisky.

Dushnisky will start on September 1 and will also sit on the tri-listed company’s board as an executive director.

Monday gold plays

Erickson’s company opener will be followed by a number of presentations from fellow gold plays later that day.

Saracen Mineral Holdings Limited (ASX:SAR) managing director Raleigh Finlayson will speak on the company’s latest milestones at 11.35am.

The company is focused on two Western Australian projects - Carosue Dam and Thunderbox.

Saracen’s ore reserve was sitting at 2.5 million gold ounces on June 30, up 20% from 2.1 million gold ounces on June 30, 2017, despite depleting 348,000 gold ounces during last financial year.

Finlayson told the market last Wednesday the company was drilling and confident it would become a 400,000 ounce a year gold producer with a long mine life.

READ: Saracen Mineral Holdings eyes further production growth after 20% increase in gold reserves

Peel Mining Ltd (ASX:PEX) managing director Rob Tyson will speak at 2.35pm.

The company has been receiving strong polymetallic results, including up to 9.02% copper, from infill drilling at its Gilgunnia project, 100 kilometres south of Cobar in western New South Wales.

The company’s 4,581-metre reverse circulation (RC) and diamond drilling program is focused on the Mallee Bull ‘Cobar-style’ polymetallic discovery.

READ: Peel Mining returns strong polymetallic assays from Mallee Bull deposit in NSW

Regis Resources Limited (ASX:RRL) (FRA:RKQ) (OTCMKTS:RGRNF) executive chairman Mark Clark will deliver a presentation at 3.45pm.

On Friday the company revealed its board had approved an underground development at Rosemont Gold Mine.

The mine will sit below its Western Australian open pit operation north of Laverton, with the company expecting to start developing its new portal in the March 2019 financial quarter.

READ: Regis Resources approves underground development at Rosemont Gold Mine

Northern Star Resources Ltd (ASX:NST) (FRA:NS7) (OTCMKTS:NESRF) chief executive officer Stuart Tonkin will end gold proceedings for the day at 4.35pm before copper company Sandfire Resources closes and The Clarke Energy Cocktail Party gets underway in the sponsors marquee.

Tonkin recently fronted WA Mining Club in June, telling a crowd of 500 that gold exploration would be the key to maintaining current production levels.

The company released updated production guidance this week, tipping it would produce between 600,000 and 640,000 ounces this financial year.

Tuesday gold plays

West African Resources Ltd managing director Richard Hyde will kick off Tuesday’s proceedings with an 8.35am presentation.

The company’s updated feasibility study for its Sanbrado Gold Project in Burkina Faso has planned out an 11-year mine life including 4.5 years of underground mining, with average annual production of 211,000 ounces over the first five years.

Hyde told the market in June the updated study confirmed the robustness of the project and forecast a capital payback of only 16 months.

West African Resources reported the high-margin project was capable of producing more than 200,000 ounces a year.

Probable reserves at the Burkina Faso project have been increased 76% to 1.574 million ounces.

READ: West African Resources confirms Sanbrado as a robust gold project

OceanaGold Corp (ASX:OGC) (FRA:RQQ1) (TSE:OGC) corporate development executive vice-president Cody Whipperman will speak after morning tea at 10.45am on Tuesday.

The company recently unveiled strong financial results, writing a US$89.1 million June half-year net profit after tax, a 45% half-on-half increase on the June 2017 half.

OceanaGold increased its quarter-on-quarter cash balance 45% to $128.9 million and declared a US2 cent semi-annual dividend for each common share.

READ: Diggers and Dealers chairman expects ‘buoyant’ forum

Gascoyne Resources Ltd (ASX: GCY) Mike Dunbar managing director will follow Whipperman at 11.10am.

The company received high-grade results of up to 27.2 g/t come from a recently completed 55-hole reverse circulation (RC) drilling program at its Glenburgh project in Western Australia.

Gascoyne Resources hopes the results will help it boost its 1 million ounce gold resource at the Gascoyne region project.

READ: Gascoyne Resources shores up Glenburgh Gold Project with shallow RC drilling

Resolute Mining Limited (ASX:RSG) (FRA:RSM) (OTCMKTS:RMGGF) managing director and CEO John Welborn will present at noon in one of two sessions before lunch.

The company secured a US$10 million revolving loan facility from Investec last month and completed investments in three gold juniors.

Resolute’s junior investments were Orca Gold Inc (CVE:ORG), Loncor Resources Inc (TSE:LN) and Manas Resources Ltd (ASX:MSR).


Gold Road Resources Ltd (ASX:GOR) managing director and CEO Ian Murray will open proceedings post afternoon tea, speaking at 3.20pm.

The company recently completed its final cost estimate for the Gruyere Gold Project and is fully funded as it gets ready for first gold at the project.

READ: Gold Road Resources completes final cost estimate for the Gruyere Gold Project

Evolution Mining Ltd (ASX:EVN) (FRA:WE7) (OTCMKTS:CAHPF) executive chairman Jake Klein will follow Murray’s address with a 3.45pm presentation.

Gold miner Evolution operates five wholly-owned mines in Australia – Cowal in New South Wales; Mt Carlton, Mt Rawdon and Cracow in Queensland; and Mungari in Western Australia.

Evolution produced 801,187 ounces of gold last financial year at an all-in sustaining cost of $797 an ounce.

READ: Pilbara Minerals confirms potential for major expansion of Pilgangoora Lithium Project

Pilbara Minerals Ltd (ASX:PLS) managing director & CEO Ken Brinsden will close Tuesday’s proceedings from the gold side of things at 4.35pm

Independence Group NL’s (ASX:IGO) (FRA:IDZ) (OTCMKTS:IPGDF) will then give the final presentation of the day before The Kal Tire Mining Traditional Bash at the sponsors marquee.

Wednesday’s gold plays

Dacian Gold Ltd (ASX:DCN) (FRN:DAG) executive chairman Rohan Williams will open the final day with an 8.30am presentation.

The company raised $40 million in an oversubscribed placement last month and started a second underground decline at its Mt Morgans operation in Western Australia.

READ: Dacian Gold starts second underground production decline at Mt Morgans Gold Operation in WA

Pantoro Limited (ASX:PNR) (FRA:RKN) managing director Paul Cmrlec will follow on Wednesday action with an 8.55am address.

The company revealed last Thursday it had upped gold reserves by 20% at its Nicolsons Gold Project in Western Australia.

It also tipped it was set to deliver a production growth target of 80,000 to 100,000 ounces a year.

READ: Pantoro delivers 20% increase in gold reserve, lays platform for continued growth at Nicolsons

St Barbara Ltd (ASX:SBM) (FRA:BM1) (OTCMKTS:STBMF) (OTCMKTS:STBMY) managing director and CEO Bob Vassie will then speak at 9.20am.

The company presented its June quarterly report in a recorded webcast on July 26.

St Barbara had a record 119,436 ounces quarter, with all-in sustaining costs of $812 an ounce.

It ended the period with $344 million cash and no debt.

Westgold Resources Limited (ASX:WGX) (FRA:0W2) managing director Peter Cook will deliver the second presentation at 12.45pm after lunch.

The group’s Big Bell site neared closer to production last financial quarter, with first ore expected by the end of calendar year.

READ: Ramelius Resources boosts cash and gold reserves by $20 million in June quarter

Ramelius Resources Limited (ASX:RMS) (FRA:RRZ) (OTCMKTS:RMLRF) managing director Mark Zeptner will then close up gold for the mining forum at 3.10pm.

The Ramelius wrap will be the second last company presentation before forum chairman Nick Giorgetta delivers his closing comments and revellers kick on at the The WesTrac Gala Dinner in the sponsors marquee.

Ramelius boosted cash and gold reserves by $20 million in the June quarter.

To view this year’s Diggers program, visit

Sun, 05 Aug 2018 11:22:00 +1000
<![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro talks Bioshares Biotech Summit '18 ]]> Fri, 03 Aug 2018 12:00:00 +1000 <![CDATA[News - ABC Bullion global manager predicts upcoming gold price movements ahead of Diggers and Dealers Mining Forum ]]> Diggers and Dealers Mining Forum 2018 will welcome some high-profile gold miners to the presenters’ podium next week. But what about the gold price? ABC Bullion global general manager Nicholas Frappell gives Proactive Investors his prediction on where the price will travel.

Frappell told Proactive Investors he expected the gold price could reach a low of US$1,180 an ounce but the longer term outlook would be more positive.

The US spot gold price was trading around the $1,211.58 mark this morning.

ABC Bullion global general manager Nicholas Frappell

Frappell, whose experience includes precious metals marketing and trading, highlighted a number of factors he believed could positively affect the gold price.

“The strong US economy is likely to lead to an increase in the US trade deficit, which will lead to a weaker US dollar,” he said.

One US dollar was buying $1.36 Australian yesterday after the bell tolled at the Australian Securities Exchange.

The Australian dollar was only buying US73.77 cents about 7pm last night.

READ: Diggers and dealers mining forum outlook ‘optimistic’ as upturn continues

Frappell noted bond yields had risen, which is why gold had struggled.

Yields are the coupon value of a government bond, divided by its market value and then expressed as a percentage.

When government bonds become riskier some investors move on.

The global general manager of the Papillion group business, ABC Bullion, believes increased bond risks might push investors to return to the safe haven of gold.

Frappell said: “Weaker economic growth in the US should be supportive of gold and draw a line in the Fed’s current tightening phase.”

READ: Diggers and Dealers chairman expects ‘buoyant’ forum

The bullion manager and former Mitsui & Co. Precious Metals vice-president shared his outlook on the probable effects of a weaker US dollar.

Frappell said: “Given near-term US dollar strength, gold’s weakness may extend to US$1,180.

“However the longer-term outlook is more positive for gold, when considering macroeconomic drivers and also when considering relative valuations such as the SPX/Gold ratio.”

The SPX 500 to Gold Ratio compares the Standard & Poor’s 500 market index to the price of gold.

The SPX 500 to Gold Ratio over the past century

With the SPX 500 being a measure of the market capitalisation of the largest 500 companies on the New York Stock Exchange and the Nasdaq Stock Market, it’s a good litmus test for the state of the US economy.

Frappell said: “Rising yields are a sign of weakness as the US funds a growing debt pile.

“The flattening yield curve may signal that the US is about to enter a period of weaker growth, although some of the flattening effect may also reflect an increase in the supply of shorter-dated paper.”

US President Donald Trump at his January 20, 2017 inauguration

The Trump factor

As Diggers and Dealers Mining Forum chairman Nick Giorgetta highlighted earlier this week in an interview with Proactive Investors, US President Donald Trump tends to affect the gold price.

Giorgetta predicted a continuation of the trend: “I think the Trump factor will play some part in the next six to 12 months.”

Gold prices have enjoyed an interesting few weeks since US President Donald Trump threatened Iranian President Hassan Touhani with “consequences the likes of which few throughout history have ever suffered before”.

The explosive tweeting less than a fortnight ago on July 22 bumped the gold price, pushing it down to US$1,229 an ounce.

Gold price fluctuation over the past decade

The price had been on the decline from May 15 when the chart turned down at U$1,303.80 an ounce.

Its ceiling price for the past two years has been the US$1,362.40 it was trading for on January 25, and it has travelled in a downward trend from since then.

The gold price had also sunk in late 2016 from November 3, just before the US Presidential Election 2016, when the price was US$1,302.10 an ounce, then US$1,272.60 the day after the Republicans’ victory.

People expected Trump’s policies would have an inflationary effect, push up interest rates and strengthen the US dollar, making investments besides gold more attractive.

The price then travelled further down to what is now a two-year US$1,127.80 floor price seen on December 16, as allegations of Russian interference in the US election heated up.

The gold price then began an upward trend with some marked corrections in 2017 until September 7 that year, when price peaked at US$1,345.10.

Frappell acknowledged weakening gold price trends in the current market, comparing current levels to those seen during Trump’s first year of administration.

“Gold prices in US dollar terms are back to the July 2017 lows after a US$150 decline from the April 2018 high,” he said.

“Gold found support at the US$1,195-1,204 level on major dips in 2017, and it is reasonable to expect support at those levels again.”

A comparison of short-selling and long-selling volumes for gold

The former shorts, forwards and exchange-traded futures trader pointed to U.S. Commodity Futures Trading Commission tracking of speculative trading, or hedging, as a positive sign for the gold price.

Frappell said: “Speculative shorts — as measured by the CME Managed Money sector — hit 14.67 million Tozs on the 24th of July this year, compared with 2.18 million Tozs in early March, and this is the largest short bet in the market since the CFTC started this measure of positioning.

“Whilst this bet has worked very well for the shorts, eventually large positions have to be bought back, and generally, short positioning tends to revert to a smaller average position than longs (as shown on the above chart).”

Frappell noted the current strong US dollar and higher yields had “contributed to a weaker gold price”.

“Gold has weakened on a combination of a stronger dollar and higher yields, with real interest rates strengthening as the Fed switches to ‘Quantitative tightening’ and an increased supply of US government debt hits fixed income markets, just when there are signs that other central banks are less willing to buy bonds,” he said.

“Dollar strength looks likely to continue with the US outperforming other regions after a long period of easy money, combined with a late-cycle fiscal splurge in the US.”

But Frappell expects a turnaround. And it’s a turnaround gold miners and traders alike hope will come about, despite all the political turmoil.

To view this year’s Diggers program, visit

Thu, 02 Aug 2018 21:50:00 +1000
<![CDATA[News - Diggers and Dealers Mining Forum outlook ‘optimistic’ as upturn continues ]]> Diggers and Dealers Mining Forum 2018 will draw a bigger crowd to Kalgoorlie-Boulder next week as mining industry figures embrace the latest upturn and take an optimistic view of the next 12 months.

Industry figures such as Association of Mining and Exploration Companies Inc chief executive officer Warren Pearce, Diggers and Dealers Mining Forum chairman Nick Giorgetta and Battery Minerals Ltd (ASX:BAT) managing director David Flanagan spoke to Proactive Investors and shared their expectations for the year ahead.

A common theme was the likely continuation of the current industry upturn, with the key figures tipping a positive flow-on effect to the economy, inflationary pressures and increased pressure to up wages for new recruits.

Diggers chairman Giorgetta said: “All the indications are that everything is going very well in the industry in just about every commodity you can think of.”

Diggers and Dealers Mining Forum chairman Nick Giorgetta

Gold and battery metals turn heads

Gold and battery minerals stand out among the 2018 Diggers presenters’ lists, although other minerals still shine brightly.

Twenty-one per cent of presenters this year are focused on gold, while 13% are firmly set on the battery minerals lithium, zinc, nickel and cobalt, and 4% on copper, 4% on zinc, 2% on iron ore, 2% on potash and 4% on other minerals.

Mining equipment, technology and services sector businesses make up a further 2% of presenters.

Giorgetta said he believed the mining industry was currently in a “good space” and the outlook for most of the commodities for the next 12 months was positive.

“Gold, the share prices (are) doing pretty well, the gold price itself is not doing as well as one would imagine but I think the Trump factor will play some part in the next six to 12 months,” he said.

“They’re all positive, all the other ones, graphite, potash, even mineral sands, they’re all looking stronger now.”

Mining industry professionals network during a Diggers dinner

Giorgetta believed battery minerals had a positive outlook.

“Lithium, zinc, copper, they are all really emerging, almost unstoppable — all the battery metals — production is going to come up, probably the prices, some of them will go up, although lithium has moved quite a bit already,” he said.

“Nickel hasn’t really reacted as much as it should but I think it will.

“Cobalt, well I think it’s still early, and everyone is looking for it, but cobalt is almost a precious metal price of $80,000, which is quite remarkable.”

AMEC chief executive Warren Pearce

Exploration a ‘pretty good ride’

AMEC’s Pearce spoke to Proactive Investors from Adelaide Airport after presenting at this week’s South Australia Resources and Energy Investment Conference.

Speaking on the state of the Australian mining industry, he said: “Broadly speaking, I think the industry’s in for a pretty good ride.

“What we’re seeing over the next 12 months is a major extension of our exploration programs that (were) running over the last 12 months.

“We’re expecting the exploration programs are really going to show out what’s going to happen in terms of projects.”

He predicted the next year could be “exceptionally busy and really very positive”.

“We’ve had a really good run of really substantive exploration expenditure — records in gold — and really across a wide range including the battery minerals space,” he said.

“Now we’re really waiting to see what those drill programs are going to uncover and then we’ll get a much better handle on how large or sustained this recovery period is going to be. If they turn up some really good discoveries it could potentially be quite large.”

Battery Minerals managing director David Flanagan

‘It feels good’

Battery Minerals managing director Flanagan told Proactive Investors people were optimistic.

“We started the calendar year really strong,” he said. “If you look at all the indexes, January-February it looked like we were off to the races.”

But Flanagan noted the industry had suffered a few setbacks since March.

“Since then I think the market has generally suffered a few little, steady sort of shocks,” the former Atlas Iron chairman said.

“The equity markets are still there, the sentiment in the physical market is still there, it’s still much better than it was if we go back four years.

“We’re seeing underinvestment generally in infrastructure and exploration and new project development and, as soon as it’s given a chance the market realises, it’s going to be short in a whole bunch of strategic commodities.

“People are by nature optimistic, and as long as they’re not dealing with global instability, they want things to happen and they will, so I see the next 12 months as just steady consolidation and growth.

“I feel we will be 15 to 20 per cent better off across the sector than where we are now. It feels good.”

Giorgetta also expressed his optimism for the upcoming period, saying: “The future is very rosy — companies have strong balance sheets, they’re out there exploring, and they’re replacing reserves.”

Delegates take in a presentation at Diggers

Hiring woes squeeze budgets

Further hiring problems are expected this financial year.

Companies are finding it difficult to find new staff, with many professionals exiting the sector during the last downturn.

Flanagan said: “Across the industry we’ve seen turnover lift in the last year, we’ve seen drilling companies finding it extremely difficult to get trained people to operate drill rigs.

“You’re already seeing a movement of people to the Pilbara here in WA.

“That’s all happening and it’s going to mean wages are probably going to kick up a bit.”

AMEC’s Pearce noted many younger miners had left the industry after the 2012 downturn and increasing wages was the only way to bring them back to the fold.

“There’s clearly going to be some inflationary pressures driven by the shortage of skills — it’s really evident it’s going to happen very early in the cycle and I think that will lead to some quite significant pressure on wages,” he said.

Giorgetta said recruitment was a big problem for miners: “It is much harder now to get the people you want.

“Everybody is aware the industry is picking up, the labour costs are running up again (but) not to the same level as it did five years ago.”

Despite Diggers delegate numbers being on the rise, Giorgetta believes fewer people are working in the industry.

“We are very concerned about the number of professionals that are in the industry — there has been a really big drop in (educational institution) enrolments,” he said.

“I push the industry to do something about it, in convincing people it is a career that they should pursue.”

‘It should be net positive’

Flanagan said while he noted wages could increase, access to capital and increased commodity prices could protect margins and cushion projects from the effects of cost gains.

“One of the things that happens when you actually get things pick up, is the price of projects, the price of people — you get increasing costs across the board but there’s increased access to capital,” he said.

“The equity markets are open more so and generally … commodities prices have run, so the margins are preserved, and (though) you’ve got increased cost of capital, this should mean that even with those negative aspects it should still be net positive.”

To view this year’s Diggers program, visit

Wed, 01 Aug 2018 21:00:00 +1000
<![CDATA[News - Diggers and Dealers chairman expects ‘buoyant’ forum ]]> Diggers and Dealers Mining Forum will attract some higher profile Australian mining companies to Kalgoorlie-Boulder next week, with the forum’s chairman tipping a ‘buoyant’ Diggers with great presentations.

While the bigger miners will be conducting tours for early arrivals this weekend, the main proceedings kick off on Monday morning with a welcome from Diggers chairman Nick Giorgetta.

Giorgetta told Proactive Investors he was expecting a number of “good presentations”.

“It will be a very buoyant Diggers and Dealers,” he said.

Diggers chairman Nick Giorgetta

Attendees on the increase

The expected number of attendees for this year’s forum is up 9.5%, or 200 people, to 2,300 people.

Among the presenters are key speaker and former Portugal prime minister José Manuel Barroso who will give a keynote on Monday morning after Giorgetta’s opening address.

Barroso was the president of the European Commission from 2004 to 2014 and became the chairman of Goldman Sachs International two years ago.

He will highlight the international events that have affected economic activity across the globe and will speak about the expected economic implications of Brexit and restructured European Union on communities globally.

Presenters get ready

The three-day program will include presentations from Northern Star Resources Ltd (ASX:NST), Fortescue Metals Group Ltd (ASX:FMG), Resolute Mining Ltd (ASX:RSG), Independence Group Ltd (ASX:IGO) and Newcrest Mining Ltd (ASX:NCM).

Also on the program are Saracen Mineral Holdings Ltd (ASX:SAR), Gascoyne Resources Ltd (ASX:GCY), Evolution Mining Ltd (ASX:EVN), Pilbara Minerals Ltd (ASX:PLS), Dacian Gold Ltd (ASX:DCN), Westgold Resources Ltd (ASX:WGX) and Ramelius Resources Ltd (ASX:RMS).

Smaller mining plays on the presenters’ list meanwhile include Argosy Minerals Ltd (ASX:AGY), Peel Mining Ltd (ASX:PEX), Cobalt Blue Holdings Ltd (ASX:COB), St Barbara Ltd (ASX:SBM) and Metro Mining Ltd (ASX:MMI).

Presenters Novo Resources Corp (CVE:NVO) and Solgold plc (LON:SOLG) will also make their debuts.

Tours prove popular

Giorgetta noted that site tours had become more popular over the past three years for participants such as investors and analysts, especially those who had not yet been out to a mine.

“That’s the unique thing about Diggers and Dealers, people can actually go visit the mine before or during the forum to just get an idea of really what they’re looking at,” he said.

On Saturday, Independence Group will show people its Nova nickel-copper-cobalt operation while Northern Star holds a strategy day.

Sunday tours will include Independence’s Tropicana gold mine, Northern Star’s Jundee gold mine, and show-throughs by Sandfire Resources and Western Areas.

Evolution Mining will take people to its Mungari operations on Monday, while Blackstone Resources take participants to Wiluna on Tuesday before Dacian Gold shows off Mt Morgans gold mine on Wednesday.

Delegates are in for a busy five days before Wednesday night’s final gala dinner.

To view this year’s Diggers program, visit

Wed, 01 Aug 2018 02:08:00 +1000
<![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro on speculative portfolios ]]> Fri, 20 Jul 2018 12:00:00 +1000 <![CDATA[News - Standard & Poor's says cobalt supply fears remain high ]]> Standard & Poor's believes risks remain high around the supply of ethically sourced cobalt from the world’s largest producer, Democratic Republic of Congo (DRC).

Although the DRC government claims that child labour has been eliminated from copper-cobalt mining, end-use manufacturers are putting in place assurances to guarantee that their cobalt is ethically sourced.

This includes attempts to acquire cobalt directly from a miner and utilising blockchain technology to provide a secure chain of custody record.

DRC produces 60% of the world’s cobalt

Supply risks are associated with the dominance of the DRC in cobalt supply given it is currently the source for 60% of global supply.

S&P believes these risks must be managed as there is no region that can match The DRC's output.

S&P also expects mined cobalt supply to increase at a CAGR of 12% to 2021 with the majority of the growth from formal mining operations in the DRC.

Cobalt production dropped in 2017

Global mined cobalt production showed a slight drop in 2017 to 115,071 tonnes from 116,272 tonnes in 2016.

The majority of cobalt supply is sourced from copper-cobalt operations in the DRC and the bulk of the remainder is attributed to nickel-cobalt operations worldwide.

ASX cobalt juniors have a role to play

Although supply risks are starting to be realised, market commentators agree that peak cobalt isn't on the horizon.

This means that developing ethical suppliers of cobalt both inside and outside the DRC have an important role to play in future global supply.

ASX-listed companies developing cobalt projects include: READ: Cape Lambert Resources engineering study supports low-cost cobalt operation

Cape Lambert Resources Ltd (ASX:CFE) is developing the Kipushi Cobalt-Copper Tailings Project in the DRC, which it has a 50% share in.

The company recently completed an engineering study to build a leaching plant to process existing tailings.

READ: Cobalt Blue Holdings’ Board confident of funding next stages of world-class cobalt project

Cobalt Blue Holdings Ltd (ASX:COB) is developing its Thackaringa Cobalt Project near Broken Hill in New South Wales.

A pre-feasibility study (PFS) released in early July 2018 estimated a pre-tax net present value (NPV) for the project of $792 million.

Cobalt Blue is earning into the project through a four-stage farm-in from Broken Hill Prospecting Ltd (ASX:BPL).

ASX juniors having cobalt exploration success

Marquee Resources Ltd (ASX:MQR)

READ: Marquee Resources’ drilling confirms the presence of high-grade cobalt at Werner Lake

Latin Resources Ltd (ASX:LRS)

READ: Latin Resources well-funded to advance lithium, cobalt strategy in Argentina

Accelerate Resources Ltd (ASX:AX8)

READ: Accelerate Resources intersects high-grade cobalt at Mount Read project

Corazon Mining Ltd (ASX:CZN)

READ: Corazon Mining drills new cobalt, copper and gold targets at Mt Gilmore

White Cliff Minerals Ltd (ASX:WCN)

READ: White Cliff Minerals drills out more cobalt, nickel and copper at Coglia Well

Prospect Resources Ltd (ASX:PSC)

READ: Prospect Resources intends to purchase DRC property prospective for lithium and cobalt

Australian Vanadium Ltd (ASX:AVL)

READ: Australian Vanadium updates vanadium JORC estimate to include cobalt, nickel and copper

Castillo Copper Ltd (ASX:CCZ)

READ: Castillo Copper expedites cobalt exploration at Broken Hill project

Havilah Resources Ltd (ASX:HAV)

READ: Havilah Resources sampling confirms strong cobalt results at Mutooroo

Rimfire Pacific Mining NL (ASX:RIM)

READ: Rimfire Pacific Mining NL’s drilling confirms cobalt-nickel potential at Tout East

Fri, 20 Jul 2018 09:52:00 +1000
<![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro wants to help you pick a ten bagger ]]> Fri, 13 Jul 2018 12:55:00 +1000 <![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro on new financial year strategy 2/2 ]]> Fri, 06 Jul 2018 12:00:00 +1000 <![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro on new financial year strategy 1/2 ]]> Fri, 06 Jul 2018 11:59:00 +1000 <![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro on 'hunting for elephants' ]]> Fri, 29 Jun 2018 12:20:00 +1000 <![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro rates undervalued gold juniors ]]> Fri, 22 Jun 2018 17:50:00 +1000 <![CDATA[News - MNF Group to acquire SuperInternet business in Singapore ]]> MNF Group Ltd (ASX:MNF) has entered into an agreement to acquire the SuperInternet Group in Singapore for SGD$2.0 million.

The SuperInternet business is a niche operator generating around SGD$1.6 million in revenue and is currently EBITDA break even.

It operates from headquarters in Singapore with a dedicated team of 10 full-time equivalent staff.

Facilitates entry into complex Singapore market

MNF’s CEO Rene Sugo said: “The acquisition of SuperInternet in Singapore provides MNF a rapid entry into the complex Singapore market and is part of MNF’s regional expansion strategy into Asia.

“This will allow the company to replicate its highly successful Australian and New Zealand based next-generation high margin recurring revenues in this additional market for consistent long-term growth and innovation potential.”

The business is Singaporean Government certified, with potential for new revenues in the near future.

Voice, fibre and specialist staff

The acquisition of SuperInternet consists of:

• A Singapore domestic fully interconnected voice network infrastructure;
• Full national interconnection with NetLinkTrust, Singapore’s NBN fiber wholesale company;
• Extensive domestic dark fibre transmission within the Singapore CBD; and
• Specialist staff with extensive experience in marketing, sales and operations in the Singapore market.

Guidance maintained

MNF has also re-affirmed its current organic earnings guidance for FY18.

It noted that the organic MNF business is performing well and MNF Group is expecting to earn $25.0 million EBITDA and $12.5 million NPAT in FY18.

Fri, 22 Jun 2018 08:35:00 +1000
<![CDATA[News - Telstra is the ASX Most Active as it outlines staff chopping block plan ]]> Telstra Ltd (ASX:TLS) is by far the most active stock on the market today, trading 74 million shares by noon, with the valuation wiped down by 5.5% to $2.75.

Driving the negative sentiment is the company's new strategy to improve customer experience, simplify structure and cut costs.

What this means is that many staff will be on the chopping block, with up to 8,000 employees to go.

Restructuring costs have been put in the $600 million bracket.

Importantly for retail investors is the dividend, and while the telco doesn't provide forward guidance, it has confirmed FY18 will be 22 cents per share.

Coming in second on the most active is Atlas Iron Ltd (ASX:AGO), which has traded over 40 million shares, yet its share price has remained flat on the day at 4.4 cents.

This remains a premium to Hancock's off-market takeover bid for 100% of the shares at 4.2 cents.

Perhaps traders are anticipating a bidding war for Atlas' assets and additional higher offers.

table.tableizer-table { font-size: 12px; border: 1px solid #CCC; font-family: Arial, Helvetica, sans-serif; } .tableizer-table td { padding: 4px; margin: 3px; border: 1px solid #CCC; } .tableizer-table th { background-color: #104E8B; color: #FFF; font-weight: bold; } Company Name Code Last Change Volume Telstra Corporation Ltd TLS 2.750 -$5.50 73,986,498 Atlas Iron Ltd AGO 0.044 $0.00 32,259,674 Lakes Oil NL LKO 0.002 $0.00 30,100,000 Caeneus Minerals Ltd CAD 0.001 $0.00 27,466,600 Manas Resources Ltd MSR 0.005 $0.00 16,829,938 Esports Mogul Asia Pacific Ltd ESH 0.026 $8.33 15,936,160 Gladiator Resources Ltd GLA 0.006 -$14.29 12,519,978 Emeco Holdings Ltd EHL 0.365 $1.39 12,390,512 Metals Australia Ltd MLS 0.005 $0.00 12,104,492 White Cliff Minerals Ltd WCN 0.002 $0.00 11,075,037 ]]>
Wed, 20 Jun 2018 12:11:00 +1000
<![CDATA[Media files - Bulls, Bears & Brokers: Alto Capital's Tony Locantro tips small biotechs as next big thing ]]> Fri, 15 Jun 2018 14:42:00 +1000 <![CDATA[News - Atlas Iron is the ASX Most Active intra-day as share price plummets ]]> Atlas Iron Ltd's (ASX:AGO) shares are sinking fast on the ASX today, down 18.8% to 3.6 cents at midday.

Over 180 million shares have changed hands already.

Atlas had recently been delivering a share price renaissance, touching a 12-month high earlier in the week of 4.6 cents.

That has abruptly come to a halt following a North West Infrastructure (NWI) update.

Atlas received notice from the office of the Minister for Transport, Planning and Lands that implies that NWI does not have a priority right to develop Stanley Point Berths 3 and 4 in the Port of Port Hedland, Western Australia.

The Minister has confirmed that Stanley Point Berths 3 and 4 are set aside for junior miners.

The Minister advises that the Pilbara Ports Authority will assess any application by NWI to develop these berths on its merits in accordance with the Pilbara Ports Authority’s standard port development processes.

Atlas said that it considers that this position is contrary to the previous stated policy of the Western Australian government and is considering its position with respect to this notice.

In 2009 NWI was conferred a 50mtpa channel capacity allocation to facilitate the development of a stockyard and two berth facility in Stanley Point.

ASX Most Traded at midday table.tableizer-table { font-size: 12px; border: 1px solid #CCC; font-family: Arial, Helvetica, sans-serif; } .tableizer-table td { padding: 4px; margin: 3px; border: 1px solid #CCC; } .tableizer-table th { background-color: #104E8B; color: #FFF; font-weight: bold; } Company Name Code Last Change Volume Atlas Iron Ltd AGO $0.036 -18.18 181,395,714 Jacka Resources Ltd JKA $0.002 0.00 33,398,620 White Cliff Minerals Ltd WCN $0.002 0.00 31,500,000 SmartTrans Holdings Ltd SMA $0.004 0.00 25,980,290 Hardey Resources Ltd HDY $0.004 0.00 25,356,071 Paladin Energy Ltd PDN $0.190 5.56 23,649,844 Telstra Corporation Ltd TLS $2.845 3.08 20,121,840 Lakes Oil NL LKO $0.002 0.00 18,755,878 Jacka Resources Ltd JKAOC $0.001 0.00 17,850,000 Genetic Technologies GTG $0.009 0.00 15,854,091 ]]>
Thu, 14 Jun 2018 12:07:00 +1000
<![CDATA[News - Vonex debuts on ASX after $6 million IPO ]]> Vonex Ltd (ASX:VN8) has made its ASX debut today after raising $6 million in a successful initial public offering (IPO) priced at 20 cents.

Funding from the IPO allows the company to focus on the expansion of its business units, as well as the development of new products.

The company is a telecommunications service provider with three core businesses, Vonex Wholesale, Vonex Telecom and Development and engineering.

Vonex generates revenue through the offering of phone and internet services.

Vonex Wholesale allows clients to white label

The wholesale product is sold on a white label basis to clients who are typically internet service providers (ISPs), carriers, and larger telcos and cloud service providers.

Vonex Wholesale supplies wholesale customers with PBX endpoints, voice minutes and advanced PBX features, which are on-sold under their own brand.

Vonex Telecom is the retail division

Vonex Telecom is the retail division of Vonex which is a full-service telecommunication service provider selling mobile, internet, business phone systems and hosted PBX to name a few.

These services are sold direct through Vonex or via affiliates or channel partners.

Development and engineering keeps technology ahead of the market

The Development and engineering department is the voice engineering department which maintains and develops products to keep Vonex ahead of the market.

This is the engineering and creative hub of the organisation where the company’s intellectual property is developed and tested before patents are lodged and the product is commercialised.

Main areas of focus

Vonex will initially be concentrating in three main areas:

• Rapidly expanding the retail division;
• Oper8tor App entering the beta trial stage, expected shortly; and
• Evaluating wholesale business with a view to expand offerings.

Wed, 13 Jun 2018 15:34:00 +1000
<![CDATA[News - Pursuit Minerals attracts $1.61 to accelerate vanadium projects in Europe ]]> Pursuit Minerals (ASX:PUR) has received firm acceptances for a substantially oversubscribed placement of shares at a 10 cents each to raise $1.61 million.

The shares have been placed with a variety of institutional and sophisticated investors, primarily in Australia.

Pursuit will use the proceeds from the placement to develop its vanadium exploration projects in Finland and Sweden, as well as its zinc projects in north-west Queensland.

High-grade vanadium in Finland

At Pursuit’s recently acquired Koitelainen project in northern Finland, the company has identified nine previous drill holes that produced vanadium values ranging from 2.0-3.7% vanadium oxide.

Notably, the near-surface average grade of 2.3% vanadium is exceptionally high and places the project in the upper echelon of projects globally.

Pursuit is continuing to compile the historical data from 27 drill holes to design a drill program to test extensions to the high-grade vanadium mineralisation at the Koitelainen V prospect.

Vanadium prices continue to rise

Vanadium has been the best performing battery metal over the past 18 months, with the price for vanadium pentoxide flake increasing by more than 300% to around US$15 per pound.

Pursuit managing director Jeremy Read said: “This is an excellent result for Pursuit.

“It confirms the quality of our assets and the great potential for share price growth in coming years, particularly as our vanadium projects come to fruition and the vanadium price continues to be strongly supported, fuelled by growth in demand for redox flow battery applications for large-scale energy storage and greater vanadium demand from China.”

Fri, 01 Jun 2018 14:34:00 +1000
<![CDATA[News - AuStar Gold pours its first gold from the re-established Morning Star mine ]]> AuStar Gold Ltd (ASX:AUL) has poured its first gold from the historical Morning Star Gold Mine in the Eastern Victorian Goldfields.

Utilising low-grade stockpiles from previous mining operators, the company was able to pour its first gold ingot at the project about 120 kilometres east of Melbourne.

First gold pour since 2012

It was also the first gold pour from the re-established underground mine within the Walhalla to Woods Point goldfield since 2012.

Chief executive officer Tom de Vries said: “It is very gratifying to be able to announce that AuStar Gold has conducted its first gold pour at the Morning Star gold mine.

“This is a major milestone for a gold explorer/developer and is a proud testament to the commitment and dedication of the AuStar Gold operations team.

“This maiden gold pour is further proof of our gravity processing plant’s ability and strategic importance in the Woods Point goldfield.”

Plant upgraded and commissioned

AuStar has upgraded and commissioned a gold processing plant at Morning Star.

The gold pour proves that the plant can process hard diorite material from the Morning Star mine, which had been a concern raised by the previous operators of the mine.

As well as Morning Star, AuStar is focusing on developing adjoining tenements in the Walhalla to Jamieson gold district, particularly the Woods Point Dyke Swarm, into low-cost high-grade production projects.

The company is focused on the acquisition and return to production of low entry cost, idle gold mines at a time of strong gold prices.

Thu, 31 May 2018 15:48:00 +1000
<![CDATA[News - GARDA Capital Group upgrades its guidance for FY18 ]]> GARDA Capital Group (ASX:GCM) anticipates generating underlying operating activity earnings of $1.2 million after tax for FY18, a 39% increase on FY17.

The company is a real estate investment and funds management group and generate revenues from funds management and debt advisory functions.

Funds management revenues are primarily derived from fees based on assets under management (AUM).

AUM increases 43.5%

AUM has primarily increased in H2FY18 as a result of the settlement by GDF of two acquisitions

The AUM at the end of FY18 is expected to be $270 million, representing a 43.5% increase on the $188 million that GARDA commenced the financial year at.

Furthermore, with the construction of the Botannica 9 project expected to complete in FY19, a further 13% AUM growth to $305 million is already embedded into that financial year.

Increased AUM flows through to earnings

Updated FY18 earnings guidance forecasts a 317% increase in underlying operating activity earnings before tax to $1.6 million.

It also projects a 39% increase in underlying operating activity earnings after tax to $1.6 million.

Actively pursuing new investments

GARDA’s chairman and managing director Matthew Madsen said: “FY18 has been an important year for the Group.

“AUM will increase by approximately 43.5% over the period with a further 13% AUM growth in FY19 from the completion of the Botanicca 9 project alone.

“We have been able to demonstrate strong returns on capital within an appropriate commercial risk tolerance.

“Moreover the FY19 results are expected to be positively impacted by the growth in AUM to $305 million compared to the average AUM of FY18 of $218 million and also, the particularly strong contribution from capital expenditure fee revenue.

“We have a strong balance sheet, currently holding $8 million in cash. We are actively pursuing new real estate debt investments and considering further acquisitions for GDF.”

Thu, 31 May 2018 08:28:00 +1000
<![CDATA[News - WAM Global raises well over $330 million for its upcoming IPO ]]> WAM Global Ltd (ASX:WGB) is now accepting oversubscriptions of up to $220 million after it exceeded the $330 million mark for its initial public offering (IPO).

The listed investment company (LIC) is set to close the broker firm offer this Friday ahead of its debut on the ASX.

Part of the Wilson Asset Management family

Funds raised under the WAM Global IPO will be managed by investment manager Wilson Asset Management, which has a 20-year track record.

Wilson Asset Management is the investment manager for six leading listed investment companies; WAM Capital Ltd (ASX:WAM), WAM Leaders Ltd (ASX:WLE), WAM Microcap Ltd (ASX:WMI), WAM Research Ltd (ASX:WAX), WAM Active Ltd (ASX:WAA) and Century Australia Ltd (ASX:CYA).

Through these LICs, Wilson Asset Management invests more than $3 billion on behalf of more than 55,000 retail investors.

WAM Global will have an international focus

WAM Global’s investment objectives are to provide capital growth over the medium-to-long term, deliver a stream of fully franked dividends and preserve capital while providing shareholders with exposure to global equities.

It will focus on undervalued international growth companies with a bias to small-medium sized entities, utilise a portfolio based and index unaware investment methodology and preserve shareholders’ capital.

Timetable expected ASX listing on 22 June

Upcoming important dates for the offer include:

• Broker firm offer expected to close - 1 June 2018;
• Priority and general offer expected to close - 8 June 2018; and
• WAM Global shares expected to list on ASX - 22 June 2018.

Wed, 30 May 2018 08:36:00 +1000
<![CDATA[News - Titan Minerals attracts $11 million for copper, gold assets in Peru ]]> Titan Minerals Ltd (ASX:TTM) has received firm commitments to raise about $11 million through an oversubscribed placement of shares at 3 cents each to institutional and sophisticated investors.

The company is now well funded to finalise the acquisition of the Mirador copper and gold plant and to explore and develop the highly-prospective Torrecillas and San Santiago projects in Peru.

Titan’s copper assets are contained within 7,800 hectares of under-explored concessions that surround the San Santiago processing plant and are currently being mined for copper, with an attractive gold and silver credit.

The company’s gold assets include its small-scale mines at the Torrecillas project.

Mirador Plant Acquisition

Titan has completed its due diligence on the Mirador Copper and Gold plant in Peru and is now progressing to complete the transaction in early July 2018.

The placement satisfies one of the transaction conditions precedent.

Importantly, the completion of the acquisition of the Mirador Copper and Gold plant is expected to position Titan as a significant gold producer in Peru.

Fast-tracking the exploration of copper-gold tenements

Titan executive chairman Matthew Carr said: “This is an excellent result for the company and we are very pleased with the strong demand from existing and new investors.

“This paves the way to fast track the exploration of Titans exciting copper gold tenements, as well as funding the capital requirements of the Mirador plant, and the Andina Vista plant.

“We have complete confidence in the potential of both the Vista and Mirador plants and will take a measured approach to the exploration and development of the Torrecillas Gold project.”

Andina takeover bid

Titan recently entered into an agreement with unlisted public company Andina Resources, by which Titan is acquiring all of the issued share capital in Andina via an off-market takeover bid.

Titan will continue to develop its current Peruvian assets, in addition to operating Andina’s complementary assets comprising the Tulin Gold Plant and the Vista Gold Plant.

Tue, 22 May 2018 13:51:00 +1000
<![CDATA[News - Henry Morgan to sell unlisted assets for $79 million ]]> Henry Morgan Ltd (ASX:HML) has entered a binding term sheet to sell two stakes in unlisted assets for $79.16 million.

Both of the company’s stakes in JB Financial Group Pty and Bartholomew Roberts Pty Ltd will be sold to JB Financial.

The sales are conditional to the negotiation and execution of transaction documents and required shareholder approvals.

Cash and convertible note to be received

The consideration for the acquisition is $67.16 million in cash which if not paid within 28 days will attract a 3.72% per annum interest payable annually.

This value will be secured against JB Financial’s assets.

Henry Morgan will also receive a convertible note with a face value of $12 million.

A committee has been established comprising three independent directors to consider the new offer.

Shares last traded in June 2017

Shares in the listed investment company (LIC) Henry Morgan last traded in June 2017.

Shares were suspended after the company was issued an interim stop order by the Australian Securities and Investments Commission (ASIC).

The stop order related to the issue of bonus options.

READ: L1 Long Short Fund set to make ASX debut after raising $1.3 billion

The listed invest company (LIC) sector of the ASX is busy after L1 Long Short Fund (ASX:LSF) recently completed a $1.33 billion initial public offering (IPO).

The original prospectus for the IPO outlined a minimum of 50 million shares ($100 million raise) and maximum of 300 million shares ($600 million raise).

After overwhelming demand, the listed investment company (LIC) issued a supplementary prospectus to allow it to increase the maximum to 675 million shares or $1.35 billion.

WAM Global Limited (ASX:WGB) is in the process of raising up to $330 million at $2.20 per share as part of an IPO.

Fri, 11 May 2018 12:21:00 +1000
<![CDATA[News - Lithium next boom resource from the mining powerhouse of Western Australia ]]> The key new generation battery ingredient of lithium is set to become Western Australia’s next boom metal, following in the steps of gold, nickel and iron ore.

It’s not just mining that is painting a rosy picture for companies active in the lithium space, with increasing interest in value-adding opportunities.

In fact, many analysts believe WA, which relies heavily on the abundance of mineral resources, will become the world’s second major location for the refining of lithium from mineral concentrate after China.

Rapid pace of developments

Global metals and minerals research company Roskill concurs, citing a number of recent announcements outlining the rapid pace of developments within the lithium mineral sector in the state.

Roskill stated: “Given its more straightforward development and production process compared to the lithium brine sector, this sector has been able to react quicker to current, and significantly increased projections for future lithium demand.”

Lithium is a soft, silvery-white metal, which is highly reactive and a key component in lithium-ion batteries.

The chemical does not occur in nature in its elemental form, but compounds within hard rock deposits and salt brines.

READ: Kidman Resources selects site at Kwinana for proposed lithium refinery

A recent value-adding example is the lithium conversion facility proposed by 50:50 joint venture partners Kidman Resources Ltd (ASX:KDR) and Sociedad Quimica y Minera de Chile (SQM).

Last week the two parties announced that they had selected a site in the Kwinana Strategic Industrial Area, 30 kilometres from Perth and adjacent to port facilities.

The JV company plans to build a facility with initial annual production capacity of about 44,000 tonnes of lithium hydroxide, or 37,000 tonnes of LCE, from spodumene concentrate.

A definitive feasibility study for the plant is due to be released in late-2018.

The proposed refinery will be at the Port of Kwinana.

This is part of an integrated production strategy for Kidman, which entered an agreement with SQM in June 2017 for joint development of the Mt Holland Lithium Project, 360 kilometres east of Kwinana.

In a report, Roskill said the quicker reaction time of the lithium mineral sector was highlighted by the fact that Kidman had only announced a maiden resource for Mt Holland in December 2016.

“Aside from the plant, SQM and Kidman also have to prove the technical and economic viability of Mt Holland if this to be an integrated operation.”

Adding value to Greenbushes

Other Roskill examples include Tianqi Lithium Corp (SHE:002246) and Albemarle Corporation (NYSE:ALB).

Tianqi began constructing its lithium hydroxide plant in Kwinana in October 2016, which is expected to have annual capacity of 48,000 tonnes of lithium hydroxide when fully commissioned in late-2019.

Albemarle aims to develop a 20,000 tonnes per annum lithium hydroxide facility in Kemerton, with staged expansions to 100,000 tonnes by around 2025 proposed.

Both will be fed by concentrate from the Greenbushes mine, 250 kilometres south of Perth, which is the world’s largest and richest lithium producing operation.

Greenbushes is operated by Talison Lithium, in which China's Tianqi controls a 51% stake and US-based Albemarle holds the minority interest.

READ: Lithium Australia nears completion of design for cutting-edge SiLeach plant

The value-adding potential is also being examined by other companies, including Lithium Australia NL (ASX:LIT) and Neometals Ltd (ASX:NMT).

Lithium Australia is designing a cutting-edge large-scale pilot plant to demonstrate its SiLeach® hydrometallurgical process which extracts lithium and by-products at commercial scale from lithium micas.

Lithium Australia is aiming for a circular economy in lithium-ion battery supply.

The company also has an extensive suite of lithium prospects throughout Western Australia from which it is intending to feed the SiLeach plant.

READ: Neometals to begin FEED study for lithium hydroxide project

Neometals is assessing the development of a lithium processing facility near Kalgoorlie, close to the Mt Marion Lithium Project in which it has a 13.8% interest.

Lithium produced at Mt Marion is being shipped to China but Neometals has a binding offtake option right for a minimum of 12.37% of production from February 2020.

This would provide a secure supply of feedstock to support the prospective development of its own downstream processing plant.

Neometals’ staged approach to becoming an integrated lithium producer.

The company also recently completed the acquisition of Mt Edwards Lithium Pty Ltd, which holds 75% of the lithium rights in the Mt Edwards Lithium Project 40 kilometres south of Mt Marion.

A little further afield, Core Exploration Ltd (ASX:CXO) plans to develop a spodumene concentrate and direct shipping ore operation to China from its Finniss project in the Northern Territory, which is within trucking distance of Darwin Port.

Thu, 10 May 2018 08:23:00 +1000
<![CDATA[News - Field Solutions Holdings expands telecom network in Queensland ]]> Field Solutions Holdings Ltd (ASX:FSG) has commenced telecommunications network construction activities at the Blackall-Tambo Regional Council area in Queensland.

The company will be deploying both fixed wireless and rural reach network solutions to the Blackall and Tambo townships and surrounding rural properties.

Series of communications towers across the council area

Field Solutions is a licensed Australian telecommunications carrier, providing services via its own telecommunications network (trading under the brand JustISP) to rural, regional and remote Australia.

The company has been engaged to design, construct and maintain a series of communications towers across the Blackall-Tambo Regional Council area.

This contract is expected to generate about $850,000 in revenue over three years.

Once these towers are delivered, the company’s retail arm JustISP will deliver both business and residential internet plans and associated services.

Services into 17 local government areas across Australia

Business and consumer services are already live in the township of Blackall, with a number of key customers already committed to 3-year contacts.

Connectivity to the township of Tambo will be live before October 2018.

The company now supports services either directly or as a wholesale provider into 17 local government areas across Australia.

Field Solutions chief executive officer Andrew Roberts said: “We are pleased to be fully operational in Queensland.

“Our model has been enhanced via the recent aqusition of South Western Wireless.

“Strategically, we have established our second rural operations base in Rockhamton, and have staff based in Rockhamton, Blackall and Longreach.”

Wed, 09 May 2018 15:56:00 +1000
<![CDATA[News - Smiles Inclusive completes $35 million IPO, trading up 10% ]]> Smiles Inclusive Ltd (ASX:SIL) successfully listed on the ASX last Friday after raising $35 million in an initial public offering (IPO) priced at $1 per share.

Funding from the IPO was for the dentist roll-up to acquire a portfolio of 52 practices under a unique partnership model.

49 of the 52 dental practice acquisitions in the initial portfolio were completed prior to listing with the remainder expected to complete imminently.

More than 30% of practices in the initial portfolio have already integrated onto the centralised practice management platform and the national Totally Smiles re-branding is underway.

Acquisition of new dental practice already made post-listing

Furthermore, the company has signed a binding agreement to acquire its first practice post-listing located in Brisbane.

The practice is being acquired for $3-3.5 million cash to be funded using the current balance sheet.

The acquisition remains subject to confirmatory due diligence and other conditions but is expected to complete within two weeks of listing.

Following in the success of other ASX dental roll-ups

Smiles will hope to endure the same success that other listed dental portfolios have had in Pacific Smiles Ltd (ASX:PSQ) and 1300SMILES Ltd (ASX:ONT).

Since listing in December 2014 at $1.30, Pacific Smiles is up 26% and since listing in March 2005 at 80 cents, 1300SMILES is up nearly 700% or 8x.

Physiotherapy and podiatry practice roll-up Healthia is expected to IPO later this year.

Tue, 01 May 2018 11:37:00 +1000
<![CDATA[News - Vonex aims to become a listed telco through IPO ]]> Vonex Ltd (ASX:VN8) aims to raise up to $7 million through the issue of shares priced at 20 cents in its current initial public offer (IPO).

The company is a telecommunications service provider with three core businesses, Vonex Wholesale, Vonex Telecom and Development and engineering.

Vonex generates revenue through the offering of phone and internet services.

Vonex Wholesale allows clients to white label

The wholesale product is sold on a white label basis to clients who are typically internet service providers (ISPs), carriers, and larger telcos and cloud service providers.

Vonex Wholesale supplies wholesale customers with PBX endpoints, voice minutes and advanced PBX features, which are on-sold under their own brand.

Vonex Telecom is the retail division

Vonex Telecom is the retail division of Vonex which is a full-service telecommunication service provider selling mobile, internet, business phone systems and hosted PBX to name a few.

These services are sold direct through Vonex or via affiliates or channel partners.

Development and engineering keeps technology ahead of the market

The Development and engineering department is the voice engineering department which maintains and develops products to keep Vonex ahead of the market.

This is the engineering and creative hub of the organisation where the company’s intellectual property is developed and tested before patents are lodged and the product is commercialised.

Scalable business model

Vonex has a scalable business model that achieved $6.12 million revenue in the retail division and $1.16 million in the wholesale division in 2017.

Of the funds raised, the majority will be used for business development ($2 million) and to make repayments ($1.195 million).

Developing the Oper8tor app

Vonex is also developing the Oper8tor App, a voice, messaging and social media app that allows users to connect with all contacts across different platforms in the one app.

The company is targeting an initial launch of Oper8tor during the second half of calendar year 2018 and aims to achieve an initial milestone of 10 million active users by the end of calendar year 2019.

Mon, 23 Apr 2018 08:40:00 +1000
<![CDATA[News - 8IP Emerging Companies is trading at premium to NTA ]]> 8IP Emerging Companies Ltd (ASX:8EC) has released unaudited pre- and post-tax net tangible assets (NTA) as at 31 March, 2018.

Both its pre-tax NTA of $1.0995 per share and post-tax NTA $1.0576 per share are at significant premiums to the share price of 93 cents.

8EC is a listed investment company (LIC) focused primarily on ASX-listed emerging companies, typically with market caps of under $500 million.

Owned 100% by its staff

Eight Investment Partners (8IP) is the manager of the 8IP Emerging Companies LIC.

It is a specialist small companies investment manager with over $250 million in funds under management and is 100% owned by its staff.

The LIC is managed by Kerry Series and Stephen Walsh, who are both experienced investment professionals.

Strategic support from Wilson Asset Management

Earlier this week, 8EC revealed strategic support of Wilson Asset Management and the appointment of experienced director Geoff Wilson AO to its board.

The company also appointed independent non-executive director Robin Burns.

The move comes after 8EC’s largest shareholder at 19.99%, Aurora Funds Management, made a hostile move to add three directors to the board.

Shareholders will vote on this at the upcoming general meeting scheduled for next Monday, 16 April 2018 in Melbourne.

Fri, 13 Apr 2018 14:03:00 +1000
<![CDATA[Media files - Carhood gearing up to raise A$5 million from IPO on ASX ]]> Tue, 10 Apr 2018 20:12:00 +1000 <![CDATA[News - HUB24 continues to be a top performer on the ASX ]]> HUB24 Ltd (ASX:HUB) continues to be a top performing ASX emerging company having more than doubled its share price to around $9.90 over the past 12 months.

In the most recent December half, the company increased its underlying net profit after tax by 75% to $2.1 million.

An award-winning investment and superannuation platform

HUB24 services the financial services industry such as stockbrokers and wealth managers through its investment and superannuation platform

The platform offers a comprehensive range of investment options, with enhanced transaction and reporting solutions, for all types of investors.

The platform supports individuals, companies, trusts, associations or self-managed super funds.

Funds under administration (FUA) growing rapidly

The company achieved record half-yearly and annual increases in FUA of $1.4 billion and $2.75 billion respectively.

Momentum is continuing into this June half with strong net inflows to date and continued conversion of HUB24’s growing opportunity

An award-winning platform

HUB24 continues to win awards for its platform.

Investment Trends awarded HUB24 the winner in three fields for 2017 Platform competitive analysis and benchmark reporting:

• Best platform managed accounts functionality;
• Best navigation and user interface; and
• Best mobile platform.

It also won two fields under the 2017 Planner technology report category:

• Overall platform satisfaction; and
• Ease of use/navigation of platform.

Fri, 23 Mar 2018 14:59:00 +1100
<![CDATA[News - Growth Markets Organisation launching world’s first global crypto securities exchange ]]> Growth Markets Organisation (GMO) is building a blockchain-based decentralised securities exchange known as GMDEX.

GMDEX will help launch new businesses through initial coin offerings (ICOs) and cryptocurrency investment tokens (CITs).

Any vetted company wanting to tokenise their assets or enter the cryptocurrency business model can list on the GMDEX exchange, exposing their capital raise to the world of investors.

GMDEX will offer multiple trading products

GMDEX will offer exchange-traded funds (ETFs), securities, real estate funds (REFs), passive coin-traded funds (CTF), active coin managed funds (CMFs).

Participants will also be able to trade CFDs, derivatives, futures and other trading products normally found on a securities exchange or in an over the counter (OTC) market.

Being decentralised is a key difference

Unlike traditional securities exchanges, GMDEX will be decentralised and backed by smart contracts detailing the securities tokens owned by the investor.

A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract.

Through the effective use of smart contracts, order and issuing fees can be reduced to a fraction of traditional costs.

GMDEX will be part of emerging investment bank GMO

GMDEX will be part of GMO which is an emerging investment bank with branches in different tax effective jurisdictions.

GMO was launched March 2006 as a platform for all smaller companies in the world to be listed.

The introduction of crypto coins and tokens combined with a secure blockchain presents an opportunity for a truly global exchange to be established.

Upcoming GMO initial coin offering (ICO)

GMO is planning to raise up to US$10 million through an ICO to build GMDEX.

To find out more

Contact the Fiscus Capital Pty Ltd office on +61 3 8613 8844.

Fri, 23 Mar 2018 12:11:00 +1100
<![CDATA[News - KRC, IGE, NUH, FYI and 9SP top performers from last week ]]> King River Copper Ltd (ASX:KRC) finished last week up 78% at 12.5 cents after opening the week at 7 cents.

READ: King River Copper share rally could also result in a cash injection

Other companies with strong returns last week included Integrated Green Energy Solutions Ltd (ASX:IGE), up 52%.

Nuheara Ltd (ASX:NUH) was up 48%.

Potash and kaolin resource developer, FYI Resources Ltd (ASX:FYI) finished the week up 36%.

READ: 9 Spokes signs contract with Bank of New Zealand, hits revenue guidance

Finally, 9 Spokes International Ltd (ASX:9SP) finished last week up 46%.

9 Spokes provides online dashboards for its clients, and last week signed a contract with the Bank of New Zealand (BNZ).

Dashboards collect all of a business’s data so it is in one place, in order to be analysed.

The company receives implementation fees on top of recurring licence fees to each channel as it is deployed.

Mon, 19 Mar 2018 08:36:00 +1100
<![CDATA[News - McGrath updates market with lower earnings guidance for FY18 ]]> McGrath Ltd (ASX:MEA) expects to generate underlying EBITDA for the June 2018 financial year in the range of $5.0 million to $5.5 million.

The share price is largely unchanged, down 0.5 cents to $0.425, albeit on low volume ($30,000 shares traded at around midday).

During January 2018, McGrath told the market its FY18 EBITDA was expected to be in the range of $5.8 million to $6.8 million after one-off items.

Reduced sales volumes to blame

Management has said the impact of reduced sales volumes has affected the company more significantly than the prior forecast contemplated. 

McGrath is a real estate services business, offering agency sales, property management, mortgage broking and career training services.

The company has 95 offices located throughout the east coast of Australia.

Share price has halved over recent months

Priced at $0.425, shares in McGrath are trading at nearly half the price of where they were in September 2017 ($0.81).

This is a long way below where the company started trading on the ASX after a $2.10 initial public offering (IPO) in December 2015.

Founder John McGrath gambling debt allegations

Recent negative sentiment resulting from the $25.5 million loss in the December half was further exacerbated by recent allegations that company founder John McGrath has a $16 million gambling debt.

Since the allegations surfaced, McGrath has written a letter to the ASX denying the claims.

Mon, 12 Mar 2018 12:48:00 +1100
<![CDATA[News - Argosy Minerals, Xanadu Mines, Metro Mining and Danakali promoted into S&P/ASX All Ordinaries ]]> Standard & Poor's have today made their changes to the S&P/ASX indices, effective at the open of trading on March 19, 2018 as a result of the March quarterly review.

At this rebalance, the entire S&P/ASX index hierarchy is reviewed, including the All Ordinaries (XAO).

South32 replaces QBE in the S&P/ASX 20

Resources company, South32 Limited (ASX:S32) has replaced insurer QBE INSURANCE GROUP LIMITED (ASX:QBE).

This marked the only change at the larger end of the Australian market as there were no changes to the S&P/ASX 50.

Fairfax Media bows out of the S&P/ASX 100

There were two new additions to the S&P/ASX 100 in Cleanaway Waste Management (ASX:CWY) and Xero (ASX:XRO) which means there were also two removals from the index.

In this case, rapidly shrinking Fairfax Media (ASX:FXJ) and troubled telecommunications company Vocus Group (ASX:VOC) were removed from the index.

Explorers entering the All Ordinaries

A number of ASX mineral explorers and developers have entered the S&P/ASX All Ordinaries.

Lithium brine project developer, Argosy Minerals (ASX:AGY) and copper-gold explorer Xanadu Mines (ASX:XAM) were both promoted.

As were Queensland bauxite miner Metro Mining (ASX:MMI) and Potash project developer Danakali (ASX:DNK).

Fri, 09 Mar 2018 09:32:00 +1100
<![CDATA[News - Jupiter Mines: Former BHP chief looks to re-list manganese business after four years away from the market spotlight ]]> More details have emerged regarding the proposed re-float of former BHP Billiton (ASX:BHP) chief Brian Gilbertson’s Jupiter Mines.

According to the Western Australian newspaper, the group has hired Perth-based broker Harleys to test the market.

The plan reportedly is to raise $200 million at 40 cents a share. This would value the miner at $780 million. 

Main asset in South Africa

The company’s main asset is a 49% stake in the Tshipi manganese deposit in South Africa.

It also owns the Central Yilgarn iron ore project 110km north-west of Menzies, which includes the Mt Mason hematite and the Mt Ida magnetite operations.

Jupiter’s shares stopped trading on the ASX in January 2014 after its main shareholders, led by Gilbertson’s business Pallinghurst, decided the natural resources group wasn’t being fairly valued amid the downturn.

As the Australian Financial Review pointed out in an article late last year this turned out to be a prescient move, with manganese prices continuing to slide until early 2016 before supply curtailments sparked a strong recovery in prices.

Investors rewarded

Since then Jupiter has tripled manganese production to around 3 million tonnes, allowing $100 million to be returned to investors.

On a visit to Sydney last year, the miner’s chief executive, Priyank Thapliyal, told the AFR: "It is good to give a lot of profit back to the shareholders as buybacks or dividends but you also want to give them an option to trade in and out of the company … the listing will give them that currency.

"I would hope that they will still hold onto their shares because we will try to make this company bigger and better by buying into other projects." 

Fri, 09 Mar 2018 08:48:00 +1100
<![CDATA[News - S&P/ASX 200 - market closes on a high; trade dominates ]]> The S&P/ASX 200 ended the session in positive territory but off its session high on a day dominated by foreign trade as the index ended up 35.10 at 5,937.10.

Foremost still in minds of market participants was the looming trade war potentially being initiated by Donald Trump via his tariff program.

There was some relief as the White House appeared to suggest that some nations may be exempt from surcharges. 

Aussie extractors and exporters of raw materials will be hoping that Trump delivers on a previous pledge to keep the country out of what is essentially a war on the makers of cheap and state-subsidised steel and aluminium.

Australia appears to be performing well on the world stage. The trade surplus was $1.1 billion in January compared with a consensus figure of $160 million, with exports up 4% and imports down 2%.

China's exports, meanwhile, surged at their fastest pace in three years in February, suggesting its economic growth remains resilient even as trade relations with the United States rapidly deteriorate. 

They rose just under 45% against forecasts of a far more pedestrian 13.6% and against an 11% gain in January.

Turning to the stock market, financial stocks were in demand, while miners were still unsettled by the Trump tariff plans.

Among the (smaller) growth stocks, Immuron Limited’s (ASX:IMC) shares surged almost 60% after its lead drug for liver inflammation performed well in a phase II clinical trial.

Not far behind with a gain of 40% was Blackham Resources Limited (ASX:BLK).

The shares surged after a record month for its Matilda-Wiluna gold operation - one in which output increased and costs were significantly reduced, resulting in strong cash flows.

12:30pm: Dollar up on trade figures

The Aussie dollar received a boost after better than expected trade figures.

The trade surplus was $1.1 billion in January compared with a consensus figure of $160 million, with exports up 4% and imports down 2%.

The Australian dollar was up 1 cent at midday to 78.26 cents against its American counterpart.

S&P/ASX 200 was up 28 points at 5,930.1 as worries about US trade tariffs abated a little.

10:30am: Market opens in positive territory

The S&P/ASX 200 opened the session in positive territory with the banks rebounding as the prospect of an all out trade war abated.

The index advanced just under 30 points to 5,931.80. On Wall Street, the share markets ended down, but well off their session lows amid reports America might possibly agree special dispensations from its tariff plans.

The Australian authorities, which thought they had such an exemption, will be hoping they receive a so-called ‘carve-out’.

Even so there was a degree of nervousness around the miners with BHP, South32 and Newcrest on offer early on.

Biggest gains on the ASX200 today: $GMA up 4%, $SWM up 4%, $MIN up 3.7%, $WTC up 3.5%, $VOC up 3.4% #ausbiz

— CommSec (@CommSec) March 7, 2018 Preview: Positive start expected 

The S&P/ASX 200 (ASX:XJO) is expected to defy negative sentiment in the US to open stronger on Thursday morning.

The SPI Futures contract is indicating the index will open 24 points higher at 5,921 points.

Cohn's departure rocks US markets

The resignation of President Trump’s top economic adviser and supporter of tax reforms, Gary Cohn, has been seen as a negative development.

It Is also pertinent that he was opposed to the Trump’s decision to introduce trade tariffs.

The NASDAQ (INDEXNASDAQ:IXIC) rose 0.3% to 7396 points as IT stocks tended to buck the trend.

Dow Jones (INDEXDJX:DJI) closed 0.3% lower at 24,801 points, dragged down by political ructions US.

US close:
Recovery in last 3hrs of trade
DOW -82pt
NAS +24pt#Gold -$7.6 to US$1,327/oz#Oil -2.3% US$61.15/bl#ironore US$75.20/t
SPI +22pts

— CommSec (@CommSec) March 7, 2018 Commodities weaker

Oil fell 2%, closing at US$61.39 per barrel.

All base metals lost ground, but copper was fairly resilient.

Trade data under the microscope

On a day in which there is very little economic news on the horizon, the release of trade figures for both Australia and China is likely to be front and centre.

The Australian dollar was flat, fetching US$0.78.

Thu, 08 Mar 2018 07:54:00 +1100
<![CDATA[News - S&P/ASX 200 closes down 1% as uncertainty remains in global markets ]]> S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) closed down 1.0%, just above its lows, as Asian markets reacted to Trump's top economic advisor resigning.

Will be making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job - will choose wisely!

— Donald J. Trump (@realDonaldTrump) March 7, 2018 4.10pm: ASX 200 closes down 1.0%

The ASX 200 closed down 60.4 points or 1.1% lower to 5,902.0.

While the quarterly GDP today number was slightly lower than expected, it still marks Australia's record 27th year without a recession.

[VIDEO] Economic Growth 7 Mar 18: The record economic expansion is now in its 27th year. The Australian economy grew by 0.4% in the Dec quarter after growing 0.7% in the Sept quarter. Annual economic growth eased from 2.9% to 2.4% #ausbiz #ausecon

— CommSec (@CommSec) March 7, 2018 3.17pm: ASX 200 down 1.1%

The ASX 200 is down 63.2 points or 1.1% lower to 5,899.2.

Every sector of the market is underperforming with Consumer Staples sector the worst off, down 1.7%.

The release of Australia's GDP data this afternoon confirmed growth of 0.4% over the December quarter, slightly below the consensus forecast of 0.5%.

[VIDEO] Mid-Session 7 Mar 18: After posting its second best improvement of the year on Tuesday, the Aussie market is down heavily at lunch. The ASX 200 is slumping by 0.9% while GDP data fell a touch short of market forecasts #ausbiz

— CommSec (@CommSec) March 7, 2018 11.10am: ASX 200 down 0.9%

The ASX 200 is down 54.3 points or 0.9% lower to 5,908.1.

Volatility has rushed back into global markets earlier this morning as Gary Cohn, Trump's top economic advisor resigned just before the Australian market opened.

BREAKING: S&P 500 SPDR ETF tumbles 1% on news that top Trump economic aide Gary Cohn has resigned

— CNBC (@CNBC) March 6, 2018 Pre-market wrap: S&P/ASX 200 set for a subdued start with trade worries still weighing on the market

The SPI Futures contract is indicating the Australian market will open three points higher at 5,957.

The talk in the market once again was of Donald Trump’s trade tariff program, which Goldman Sachs has dubbed as Draconian.

The bank’s head of commodities, Jeffrey Currie, reckoned the president’s team should have taken a targeted approach to the exporting nations and metal imports it wants to clamp down on.

“US allies produce many of the value-added steels that current US capacity cannot fully replace without substantial increase in investment. … As a result, the US will end up simply paying the tariffs on the higher quality imported metal from US allies even if the amount was at or under the quota,” he is quoted on CNBC saying.

On the foreign exchange markets, the Australian dollar nudged up 0.7% against its US counterpart to 78.20 cents as nerves steadied amid worries over a looming trade war.

The potential market mover is the fourth-quarter GDP figure at 11.30am. Gareth Aird, senior economist at the Commonwealth Bank, is predicting the Australian economy will have grown 0.4% in the three months under review.

Australia: Q4 GDP likely to print 0.5% figure - Nomura: Andrew Ticehurst, Research Analyst…

— Forex Warrior (@Forex_warrior) March 6, 2018 ]]>
Wed, 07 Mar 2018 09:00:00 +1100
<![CDATA[News - S&P/ASX 200 closes down 0.6%, all eyes on the US open tonight ]]> S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) has finished Monday lower marking the fourth consecutive day of losses for the Australian market.

4.10pm: ASX 200 closes down 0.6%

The ASX 200 has closed down 0.6% or 33.9 points lower to 5,895.0.

[VIDEO] Market Close 5 Mar 18: The ASX 200 fell for a fourth session as investors react to the tariffs the Trump Administration will apply to aluminium and steel imports #ausbiz

— CommSec (@CommSec) March 5, 2018 12.29pm: ASX 200 down 0.4%

The ASX 200 is down 0.4% or 21.5 points to 5,907.4.

Top performing stocks through the morning session include Myer Holdings Ltd (ASX:MYR), up 13.75%, rare earth producer Lynas Corporation Ltd (ASX:LYC), up 6.2%, and coal producer Whitehaven Coal Ltd (ASX:WHC), up 5.2%.

Mid-Session 5 Mar 18: ASX 200 retreats for a fourth session

— CommSec (@CommSec) March 5, 2018 10.21am: ASX 200 down 0.2%

The ASX 200 has opened down 0.2% or 12 points lower to 5,916.9.

Resources stocks leveraged to iron ore such as BHP Billiton Limited (ASX:BHP), Rio Tinto Limited (ASX:RIO) and Fortescue Metals Group Limited (ASX:FMG) are all down around 1% due to a retracement in the iron price.

Pre-market wrap: S&P/ASX 200 futures pointing to a flat start pre-market

The Dow Jones (INDEXDJX:DJI) closed down 71 points or 0.29% to 24,538 on Friday.

It was a wild week for markets! The Dow recovered most of today’s losses, but it’s still down more than 3% for the week. Recap the trading day action with @WilfredFrost

— CNBC's Closing Bell (@CNBCClosingBell) March 2, 2018

The AUDUSD is unchanged over the past 24 hours to 0.7763.

Gold bounced US$18.50 or 1.42% to US$1,323 while WTI Crude Oil was also up 0.79% to US$61.47 per barrel.

Catch up on the biggest news, interviews, and events on @CNBC with the #RapidRecap!

— CNBC's Closing Bell (@CNBCClosingBell) March 2, 2018 Upcoming economic data: Monthly building approvals and inflation

At 11.00am AEST the Melbourne Institute will release their monthly inflation gauge data.

It measures the change in the price of goods and services purchased by consumers.

This data provides a monthly look at consumer inflation and is designed to mimic the quarterly government-released CPI data.

At 11.30am AEST the Australian Bureau of Statistics (ABS) will release its monthly building approvals data.

This is seen as a good gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building.

The ABS will also release the quarterly company operating profits data point at 11.30am AEST which is seen as a leading indicator of economic health.

[REPORT] This coming week - Economic growth, building approvals, and retail trade all being released. Overseas spotlight is on the Italian election, US jobs and Chinese inflation data #ausbiz #ausecon

— CommSec (@CommSec) March 4, 2018 ]]>
Mon, 05 Mar 2018 08:18:00 +1100
<![CDATA[News - S&P/ASX 200 regathers some losses to finish the day 0.7% lower, eyes on US tonight ]]> S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) closed lower today marking its third consecutive down day.

4.10pm: ASX 200 closes down 0.7%

The ASX 200 has finished the week by closing down 44.4 points or 0.7% lower to 5,928.9.

After five consecutive days of gains, the past three days have all posted losses.

The Utilities and Financials sectors ended the day as the most resilient sectors, lower by 0.31% and 0.46% respectively.

[TABLE] ASX 200 ends with a loss of 44 points or 0.74% on Friday every ASX sector lower led by Telecoms and I.T #ausbiz Iress

— CommSec (@CommSec) March 2, 2018 12.48pm: ASX 200 down 0.9%

The ASX 200 is down 53.8 points or 0.9%  to 5,919.5.

All sectors of the Australian market are in the red with IT underperforming the most down 1.44% and Utilities the most resilient sector, down 0.61%.

The best performing large-cap stocks through the morning session are Spark New Zealand Ltd (ASX:SPK), Newcrest Mining Limited (ASX:NCM) and BlueScope Steel Limited (ASX:BSL).

[VIDEO] Mid-Session 2 Mar 18: Local stocks are losing ground at lunch following a weak lead from Wall Street last night. Comments by President Trump relating to US steel and aluminium import tariffs has put markets in an edgy mood #ausbiz

— CommSec (@CommSec) March 2, 2018 10.53am: ASX 200 down 0.7%

The ASX 200 is down 39.1 points or 0.7%  to 5,934.2.

VIDEO: US Close 2 Mar 18 : Steel and Aluminium tariff news bites markets.

— CommSec (@CommSec) March 1, 2018 Pre-market wrap: S&P/ASX 200 set to open lower again as Trump tariff comments rattle US markets

The Dow Jones (INDEXDJX:DJI) closed down 420 points or 1.68% to 24,609.

The AUDUSD was unchanged over the past 24 hours to 0.7761.

Gold was also unchanged at US$1,319 while WTI Crude Oil was up slightly to US$61.20 per barrel.

Trump rattles markets with tariff comments

US markets sold off and the USD rallied overnight as President Donald Trump said the US would impose tariffs on steel and aluminium imports next week.

The idea of the tariff on imports is to protect US companies by stimulating domestic steel and aluminium production.

However, by discouraging importing China’s cheaper steel and aluminium, costs would likely rise for industries that consume the products.

Upcoming economic data: Monthly new home sales

The Housing Industry Association (HIA) is expected to release its monthly data for new home sales today.

It measures the change in the number of newly constructed homes sold.

It's a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect.

For example, furniture and appliances are purchased for the home, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

Yesterday, data released by CoreLogic showed that home prices across Australia's major cities fell for a fifth straight month in February.

CoreLogic's index of home prices for the combined capital cities fell 0.3% in February adding to the 0.5% fall in January.

After a slew of economic data results in the US this week, there is only the revised University of Michigan’s consumer sentiment estimate left tonight.

Fri, 02 Mar 2018 08:08:00 +1100
<![CDATA[News - S&P/ASX 200 closes down 0.7%, Australian city homes fall for fifth straight month ]]> S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) has closed back under the 6,000-point level.

4.10pm: ASX closes down 0.7%

The ASX 200 closed down 42.7 points or 0.7% lower at 5,973.3.

Energy (-2.17%) and Utilities (-1.64%) were the worst performing sectors on the market today.

Mid-cap software designer Altium (ASX:ALU) was one of the better performers, up 2.9% alongside small-cap resources stock GWR Group Ltd (ASX:GWR) which was up 52.3%.

[VIDEO] Market Close 1 Mar 18: The ASX 200 slipped by 0.7% with almost all sectors lower #ausbiz

— CommSec (@CommSec) March 1, 2018 2.44pm: ASX down 0.8%

The ASX 200 is down 0.8% or 50.2 points to 5,965.8.

The quarterly private capital expenditure data released by the ABS at 11.30am was well under consensus expectations at -0.2% (vs +1.0%), which pushed the AUD lower.


[VIDEO] Mid-Session 1 Mar 18: The ASX 200 is adding to yesterday’s losses in early trade on Thursday after US stocks remained under pressure over night. The property trusts are the only ASX sector to post an improvement #ausbiz

— CommSec (@CommSec) March 1, 2018 Australian housing prices fall for fifth straight month

Home prices across Australia's major cities fell for a fifth straight month in February.

CoreLogic's index of home prices for the combined capital cities fell 0.3% in February adding to the 0.5% fall in January.

Annual growth in prices slowed to 2.0%, down from 10.5% in mid-2017.

Sydney dropped 0.6% in February while Melbourne proved more resilient only dropping 0.1%.

10.46am: ASX down 0.7%

The ASX 200 is down 0.7% or 42.2 points to 5,973.8.

Notably, this is over 10 points above its low of 5,962.7 which the XJO hit at 10.25am.

A number of stocks go ex-dividend today including Bendigo and Adelaide Bank Ltd (ASX:BEN), Fortescue Metals Group Limited (ASX:FMG), Rio Tinto Limited (ASX:RIO) and Woolworths Group Ltd (ASX:WOW).

Ex-dividend stocks today incl:
- $WOW ($0.43/share)
- $RIO ($2.28)
- $FMG ($0.11)
- $BEN ($0.35)
- $HSO ($0.032)
- $BBN ($0.028)
- $REA ($0.47)
- $SKC ($0.092)
- $GMA ($0.12)
- $NHF ($0.09)
- $EHE ($0.078)#ausbiz

— CommSec (@CommSec) February 28, 2018 Pre-market wrap: ASX 200 set to open lower as US finishes in the red overnight

The Dow Jones (INDEXDJX:DJI) closed down 380 points or 1.50% to 25,029.

The AUDUSD is largely unchanged, down 0.2% over the past 24 hours to 0.7769.

Gold was unchanged at US$1,319 while WTI Crude Oil was down again, off 2.21%, to US$61.62 per barrel.

VIDEO: US Close 1 Mar 18: Dow off 381pts, S&P down 1.1%

— CommSec (@CommSec) February 28, 2018 Upcoming economic data: Quarterly private capital expenditure

At 11.30am AEST the Australian Bureau of Statistics (ABS) will release the quarterly data for private capital expenditure (consensus forecast: 1.0%).

It measures the change in the total inflation-adjusted value of new capital expenditures made by private businesses.

It's a leading indicator of economic health - businesses are quickly affected by market conditions, and changes in their investment levels can be an early signal of future economic activity such as hiring, spending, and earnings.

Other data points include the AIG manufacturing index at 9.30am AEST and China’s Caixin manufacturing PMI at 12.45pm AEST.

Reporting season over: Stocks outperforming in 2018

With February over, ASX reporting season also concludes.

Year to date, some of the best performing stocks on the ASX include:

• Yancoal Australia Ltd (ASX:YAL) up 28%
• Flight Centre Travel Group Ltd (ASX:FLT) up 30%
• Seven Group Holdings Ltd (ASX:SVW) up 19%
• Corporate Travel Management Ltd (ASX:CTD) up 21%
• Altium Limited (ASX:ALU) up 57%
• Bellamy's Australia Ltd (ASX:BAL) up 75%
• Sirtex Medical Limited (ASX:SRX) up 66%
• Afterpay Touch Group Ltd (ASX:APT) up 19%
• Lovisa Holdings Ltd (ASX:LOV) up 32%
• Ltd (ASX:KGN) up 35%

Miners BHP Billiton Limited (ASX:BHP) and Rio Tinto Limited (ASX:RIO) have been the best performing of the ASX heavyweights, up 2.0% and 2.7% respectively.

Thu, 01 Mar 2018 08:52:00 +1100
<![CDATA[News - S&P/ASX 200 closes down 0.7% after 5-day winning run ]]> S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) has closed today just above its low for the day of 6,012.6 ending the index's winning streak.

4.10pm: ASX 200 down 0.7%

The ASX 200 closed down 0.7% or 40.9 lower at 6,016.0.

The Utilities sector proved to be the most resilient part of the market, finishing up 1.12% for the day.

Conversely, Telcos were the worst performing sector, down 2.60% on the day.

[VIDEO] Market Close 28 Feb 18: The Australian sharemarket fell by 0.7% on Wednesday partly due to worries US interest rates might lift faster than expected this year and some disappointing economic news in China #ausbiz

— CommSec (@CommSec) February 28, 2018 12.38pm: ASX 200 down 0.4%

The ASX 200 is down 0.4% or 26.1 points to 6,030.8.

China's scheduled manufacturing PMI data came in weaker than expected at 50.3 (consensus forecast: 51.2).

Many of today's companies reporting have underwhelmed investors including Adelaide Brighton (-6.2%), Bubs Australia (-3.2%), Ramsay Healthcare (-4.9%), Harvey Norman (-14.9%) and GetSwift (-11.0%).

[VIDEO] Mid-Session 28 Feb 18: The Aussie sharemarket is under pressure following substantial falls for US markets overnight. US shares down 1.2% overnight and long-term interest rates higher. #ausbiz

— CommSec (@CommSec) February 28, 2018 11.49am: ASX 200 down 0.3%

The ASX 200 is down 0.3% or 20.5 points to 6,036.4.

The monthly private sector credit data came in slightly softer than forecast at 0.3% (consensus forecast: 0.4%).

Private Sector Credit January
Credit +0.3% to be +4.9% on year
Housing +0.5% to be up 6.2% on year
Personal -0.1% to be down 0.9% on year
Business -0.5% to be up 3.4% on year#ausbiz #ausecon #rba

— CommSec (@CommSec) February 28, 2018 10.23am: ASX 200 down 0.3%

The ASX 200 is down 0.3% or 17.1 points to 6,039.8.

Pre-market wrap: S&P/ASX 200 set to break its winning streak as US rate hike concerns rise

The ASX 200 is unlikely to have a sixth consecutive day in the black with futures pointing to a lower start.

The Dow Jones (INDEXDJX:DJI) gave back some of its recent gains last night, down 300 points or 1.17% to 25,409.

US markets were pushed lower after Federal Reserve Chairman Jerome Powell highlighted the strengthening economy during his testimony in front of lawmakers.

Powell’s comments appeared to turn investors cautious as they considered the possibility of faster pace of rate increases.

VIDEO: US Close 28 Feb 18: Markets eased on rate fears and higher US dollar #ausbiz

— CommSec (@CommSec) February 27, 2018

The AUDUSD is lower by 0.9% over the past 24 hours to 0.7783.

Gold was down over 1% or US$13.70 to US$1,319 while WTI Crude Oil gave up some of its recent gains, down 1.60%, to US$62.89 per barrel.

Last day of reporting season: ABC, BUB, AC8, RHC, MQA, HVN and GSW

Companies of note reporting results today include:

• Adelaide Brighton Ltd. (ASX:ABC);
• Bubs Australia Limited (ASX:BUB);
• Auscann Group Holdings Limited (ASX:AC8)
• Ramsay Health Care Limited (ASX:RHC)
• Macquarie Atlas Roads (ASX:MQA);
• Harvey Norman Holdings Limited (ASX:HVN); and
• GetSwift Ltd (ASX:GSW).

Upcoming economic data: monthly private sector credit, US GDP tonight

At 11.30am AEST the Reserve Bank of Australia (RBA) will release the monthly data for private sector credit.

It measures the change in the total value of new credit issued to consumers and businesses.

Borrowing and spending are positively correlated, consumers and businesses tend to seek credit when they are confident in their future financial position and feel comfortable spending money.

This will be followed at midday by the Chinese manufacturing and non-manufacturing PMI data.

Important data points being released in the US tonight include preliminary quarterly GDP and crude oil inventories.

Wed, 28 Feb 2018 08:42:00 +1100
<![CDATA[News - S&P/ASX 200 gives back morning gains but closes higher for 5th consecutive day ]]> S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) steadily trended downward into the close from its intra-day high at 12.49pm of 6,083 points.

4.10pm: ASX closes up 0.2%

The ASX 200 closed up 14.7 points or 0.2% to 6,056.9.

The Healthcare (+0.79%) and Financial (+0.41%) sectors led the gains today, while Telcos were the worst performing, down 0.89%.

[VIDEO] Market Close 27 Feb 18: Aussie shares rose for a fifth day and hit fresh three week highs on Tuesday despite fading from intraday highs. The ASX 200 rose by 0.25% to 6056 #ausbiz

— CommSec (@CommSec) February 27, 2018 12.00pm: ASX 200 up 0.6%

The ASX 200 is up 34.3 points or 0.6% to 6,076.5.

Fuel refiner, Caltex (ASX:CTX), found support on the market today after reporting its December half results, trading up 4.3%.

Satellite and remote communications company, Speedcast (ASX:SDA), however, has failed to appease investors with its results today, trading down 6%.

[VIDEO] Mid-Session 27 Feb 18: The ASX 200 is on track for a 5th consecutive day of gains on Tuesday. Only 2 sectors lower at lunch - Telecoms and Utilities, while solid gains for the banks are underpinning the broader improvement #ausbiz

— CommSec (@CommSec) February 27, 2018 10.19am: ASX 200 up 0.6%

The ASX 200 is up 36 points or 0.6% to 6,078.2.

Pre-market wrap: S&P/ASX 200 set for another up day as futures run higher

S&P/ASX 200 will look to continue its positive run with ASX 200 futures trading higher, signalling early gains for the ASX 200.

The Dow Jones (INDEXDJX:DJI) finished its Monday up 399 points or up 1.58% to 25,709.

VIDEO: US Close 27 Feb 18: Near 400pts gain on the Dow ahead of Powell#ausbiz

— CommSec (@CommSec) February 26, 2018

The AUDUSD is up 0.22% over the past 24 hours to 0.7855.

Gold was higher, up US$4.70 to US$1,335 and WTI Crude Oil continued higher again, up 0.74%, to US$64.03 per barrel.

AGI, CAB, CTX, and SDA report results today

Companies of note reporting results today include:

• Ainsworth Game Technology Limited (ASX:AGI);
• Cabcharge Australia Limited (ASX:CAB);
• Caltex Australia Limited (ASX:CTX); and
• Speedcast International Ltd (ASX:SDA).

Upcoming economic data: No data today but US data tonight

Again there is no significant economic data set to be released in Australia today but eyes will be on the US tonight.

Just after midnight at 12:30am AEST the monthly US core durable goods orders data will be released.

It measures the change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items.

It's a leading indicator of production and rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

The consensus forecast is 0.4%.

Tue, 27 Feb 2018 08:28:00 +1100