Gold Sector - Sector Update & June Quarter Preview

June 24, 2019

The ASX gold sector is nearing the end of the June Q against a backdrop of record AUD gold pricing. Gold prices have had a solid run, largely as a result of dovish US Federal Reserve Policy, geopolitical risk and ongoing US-China trade war tensions. ASX miners are running...

Argonaut Metals Mining - June Q 2019 Preview and Commodity Outlook

June 24, 2019

Argonaut provides a preview for stocks under coverage for the June Q 2019. Commodities were flat with average prices for gold, copper and nickel varying only ±1% QoQ. However, gold in AUD terms has sustained a positive run late in the June Q, reaching an all-time high of A$2,024/oz....

Botanix (BOT) - Bot Studies Show CBD Has Novel Anti-inflammatory, Immunomodulation And Anti-bacterial Effects

June 21, 2019

BOT has released very encouraging results from its recently completed BTX1308 and BTX1801 studies. It has been shown in its BTX1308 psoriasis study that Cannabinoid (CBD) has anti-inflammatory and immune modulating activity in skin disease. BOT is still to release the patient data from the study, and these results...

Saracen Mineral Holdings (SAR) - Regional Consolidation Continues

June 19, 2019

Saracen (SAR) has made an all-scrip off-market takeover offer for Bligh Resource (BGH). The offer is 0.369 SAR shares for every 1 BGH share, valuing the Company at $38.2m. BGH has owns the Bundarra Project, located 30km south of SAR’s Thunderbox Operation (TB). Bundarra has a 660koz resource grading...

Atrum Coal (ATU) - Nearology That Outshines Its Neighbour - Re-Initiation

June 13, 2019

Atrum Coal’s (ATU) Elan Project in Alberta, Canada is a rare undeveloped, high quality hard coking coal (HCC) asset, with multi-mine potential. Elan has a current resource of 298Mt with an exploration target of an additional 210-900Mt. Elan dwarfs both the tenement holding and resource potential of Riversdale...

Metro Mining (MMI) - Minor Downgrade To the June Q

June 12, 2019

Metro Mining (MMI) provided an update for the June Q, with a minor downgrade to production. Atypical weather conditions and a delay in the delivery of new haulage equipment has resulted in a 3% reduction of FY19 guidance to 3.3-3.5Mwmt (previously 3.4-3.6Mwmt). Despite this downgrade, operations at Bauxite Hills...

Dacian Gold (DCN) - Expectations v Reality

June 6, 2019

Dacian Gold (DCN) has provided a corporate and guidance update which materially reduces production in the June Q, and for FY20-25, which subsequently drives higher costs. This is the result of underperformance of grade at Beresford and hangingwall lodes at Jupiter as well as lower productivity from underground contractors....

Austal (ASB) - Model Review

June 5, 2019

ASB gives us much to be positive about (a record order book, strong demand and visibility, expanded capacity, growing margins, and a large US$ exposure), which we have taken into account in a review that incorporates the new segment reporting structure.  While the order book underpins revenue forecasts, the...

Myanmar Metals (MYL) - Funded Through To FID

June 4, 2019

Myanmar Metals (MYL) has completed a $20.8m equity placement (at 6.5¢/sh), which should see the Company funded through to a Financial Investment Decision (FID) on its 51% owned Bawdwin polymetallic project in Myanmar. Key uses for this funding will include; completion of a Definitive Feasibility Study (DFS), expanding Reserves...