Proactiveinvestors United Kingdom Proactive Investors Australia https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Proactive Investors Australia RSS feed en Fri, 24 May 2019 08:08:12 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Copper discovery rates forecast to remain at decade-long lows, according to S&P Global ]]> https://www.proactiveinvestors.co.uk/companies/news/219711/copper-discovery-rates-forecast-to-remain-at-decade-long-lows-according-to-sp-global-219711.html Copper discovery rates are at decade-long lows, according to a report from S&P Global Market Intelligence, despite increased funding going towards exploration.

More than US$25 billion was allocated to all stages of copper exploration in the past decade, compared to the US$15.4 billion spent in 1990-2008, though this has not translated into major new discoveries.

S&P Global forecasts new copper discoveries will remain historically low, which will not affect the short or medium-term pipeline but may have consequences for long-term supply.

Sector focused on expanding existing assets

One contributing factor of the decline, according to the report, is a key shift in focus within the exploration sector.

Grassroots exploration budgets have halved since the 1990s, with juniors increasingly focused on expanding known deposits and producers concentrating on exploration at existing operations.

The lack of significant discoveries, however, is not expected to have an immediate impact on the near-term pipeline.

S&P notes there are numerous developing copper assets that can feed the short and medium-term supply pipeline, although many of these require additional investment.

However, the report states the longer-term pipeline is at risk from the reduced discovery rates.

  Latin America centre of global copper exploration

While the amount of copper discovered annually varies year-to-year, it roughly followed the trend of annual spending on copper exploration to 2009.

In terms of return in copper discovered for exploration dollars spent, the 1990s were a more successful decade than the 2000s, with almost half of the 220 major discoveries of the past 29 years, containing more than half of discovered copper, being made in the 1990s.

Latin America is the primary location for copper exploration, attracting over one-third of copper budgets over the past two decades and accounting for 42% of global production in 2018.

Much of this has focused on Chile and Peru, which together account for 80% of copper discovered in Latin America and 45% of the global total found since 1990.

Potential long-term effects

S&P Global has defined a major deposit as one containing over 500,000 tonnes of copper in reserves, resources and past production.

While it has confirmed a lack of new significant deposits being found, S&P notes that a portion of the shortfall is attributable to recently-found deposits that require additional exploration to expand beyond its major discovery threshold.

The report indicates it takes about 20 years to advance an asset from discovery to production, meaning the reduced discovery rates of the past decade will limit the pool of projects coming online in 15-20 years.

This is when many major copper mines are currently scheduled to be producing much less than now and a host of smaller producers will have ended operations.

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Mon, 06 May 2019 02:02:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219711/copper-discovery-rates-forecast-to-remain-at-decade-long-lows-according-to-sp-global-219711.html
<![CDATA[News - Gold prices to benefit from heightened risk as investors hedge their bets ]]> https://www.proactiveinvestors.co.uk/companies/news/214601/gold-prices-to-benefit-from-heightened-risk-as-investors-hedge-their-bets-214601.html Gold prices have been forecast to remain strong into 2019 after recovering from a low point of US$1,160 in mid-August to US$1,307.89 today February 14.

The US Federal Reserve is expected to slow the pace of interest rate hikes this year, hindering US dollar increases and keeping upwards pressure on the gold price.

Geopolitical concerns, punitive sanctions on Russia and Iran and challenging global financial conditions have put myriad pressures on commodity prices, but the heightened risk carried into 2019 may be end up favourable for gold investors.

Typical drivers of the gold price can be grouped into four categories, according to the World Gold Council (WGC): wealth and economic expansion; market risk and uncertainty; opportunity cost; and momentum and positioning.

As a strategic asset, gold demand has historically been positively-correlated with economic growth as well as strongly responsive to periods of heightened risk.

Source: tradingeconomics.com

  Strong price forecast for 2019

Early in January Goldman Sachs released a report raising its 12-month price forecast up from $1,350 an ounce to $1,425, a price last seen in August 2013.

The Goldman analysis maintains the gold price will be supported primarily by growing demand for defensive assets, with the slower pace of US Fed rate hikes boosting demand only marginally.

Bank of America Merrill Lynch predicts that with sustained global demand coupled with a weaker US dollar, the gold price could see highs of US$1,400 an ounce and an average of $1,296 across 2019.

Bullish on gold

In its “2018 Precious Metals Review” released in December, Refinitiv’s GFMS metals research team said the US-China trade war this year had a negative impact on the gold price, pushing it below the $1,200 per ounce level after trading above $1,300 the first two quarters.

According to the report, any cooling off between the US and China might drive the dollar down and be beneficial to gold.

The WGC supported the bullish view on gold in its 2019 outlook, noting several trends that will be key in determining gold’s demand.

These include:

Increased market uncertainty and the expansion of protectionist economic policies making gold increasingly attractive as a hedge;

Effects from higher interest rates and US dollar strength expected to be limited as US Fed has signalled a more neutral stance; and

Structural economic reforms in key markets will continue to support demand for gold.

Consensus gold price forecast. Source: PCF Capital Group

  US Dollar losing pre-eminence

Geopolitical shifts emanating from Washington have caused countries around the world to rethink the US dollar as the primary global reserve currency.

World Gold Council chief executive officer designate David Tait noted in the Council’s 2019 outlook that geopolitical shifts, plus concerns about the US-China trade war, as the main cause of this drive.

The European Commission has proposed measures to make the Euro a reserve currency and decrease dependence on the dollar in international trade.

Europe’s recovery from the debt crisis has not matched that of the US economy, leading to European banks and investors increasingly adding gold to their portfolios since early 2016.

Political challenges such as Brexit have created a level of unease among investors and other societal issues in Spain, France and Italy have ensured continued risk into 2019, potentially strengthening gold’s position.

Tait also points out Russia’s ‘de-dollarisation’ plans, under which Russian companies would use roubles, euros and the Chinese renminbi instead of the dollar.

Key global asset performance at December 31, 2018. Source: Bloomberg, ICE Benchmark Administration, World Gold Council

  Increased gold mining activity

Gold mining activity has increased across the board, but Tait notes soaring demand for gold bars and coins in Iran as the country tries to counter US sanctions with increased gold mining to boost employment and growth.

Globally, the industry is going through a period of streamlining and M&A activity, looking to drive returns for shareholders.

The US$18.3 billion merger of Barrick Gold (TSE:ABX) and Randgold Resources (LON:RRS), which became effective on January 2, and Newmont Mining’s announcement to acquire Canada’s Goldcorp to create the world’s largest gold mining group, is expected to trigger further consolidation across the industry.

According to PCF Capital Group, by the first week of December last year there had been 45 major gold asset transactions on the ASX for a total value of $2.3 billion, with 23 of these yet to be completed.

Research by S&P Global Market Intelligence shows global exploration budgets for minerals other than iron ore, coal and bauxite reached US$10.1 billion in calendar year 2018, up 19% year-on-year.

Gold exploration spending of US$54.3 billion in the past decade was 60% higher than the US$32.2 billion spent across the preceding 18 years.

READ: Gold sector sees M&A consolidation on ASX ahead of 2019 price uncertainty

Much of the Australian gold sector’s consolidation in 2018 was focused on Western Australia’s Goldfields region.

Producer Northern Star Ltd (ASX:NST) acquired Westgold Resources Ltd’s (ASX:WGX) South Kalgoorlie operations and began a buy-out of Rand Resources Ltd (ASX:RND) and Tribune Mining NL (ASX:TBR).

Other sizeable acquisitions in the region were Hanking Gold’s purchase of Coolgardie-based Primary Gold Limited (ASX:PGO) and Intrepid Mines Limited’s (ASX:IAU) acquisition of AIC Resources Limited (ASX:A1C).

Mergers of note include: Silver Lake Resources Limited (ASX:SRL) and Doray Minerals Limited (ASX:DRM); MacPhersons Resources Ltd (ASX:MRP) and Intermin Resources Limited (ASX:IRC); and the three-way merger between Bardoc Gold Ltd (ASX:BDC), Excelsior Gold Limited (ASX:EXG) and developer Aphrodite Gold Limited (ASX:AQQ).

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Wed, 13 Feb 2019 22:17:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214601/gold-prices-to-benefit-from-heightened-risk-as-investors-hedge-their-bets-214601.html
<![CDATA[News - Cobalt set for bearish 2019 but demand fundamentals remain strong ]]> https://www.proactiveinvestors.co.uk/companies/news/212832/cobalt-set-for-bearish-2019-but-demand-fundamentals-remain-strong-212832.html Following strong upwards trends in 2017, the cobalt price in 2018 climbed to reach an all-time high of US$95,250 a tonne in March before plummeting more than 50% by year-end.

The market volatility across the year was shared by most other base metals, fuelled by the US-China trade dispute as well as China’s contracting economy.

Market sentiment for cobalt shifted further due to announcements from major battery makers such as Tesla to decrease the amount of cobalt to be used in their batteries.

It was also affected by a supply-side response in the form of larger artisanal production from the Democratic Republic of Congo (DRC), which put medium-term pressure on prices.

Six-year cobalt price. Source: tradingeconomics.com

  Strong demand fundamentals

Production from the DRC has added to volatility due to considerations of ethically-sourced cobalt and the country’s recent contested elections.

Nonetheless cobalt demand remains strong and its use in lithium-ion batteries will potentially triple by 2026.

This was given a jump-start late last year when Katanga Mining (TSX:KAT) halted export sales at its Kamoto mine in the DRC after identifying uranium in its cobalt production.

Cobalt demand increased at a rate of 8% per year from 2010-2017, according to Roskill, mainly driven by demand from the battery sector which now accounts for more than half of total cobalt consumption.

Demand for cobalt in batteries is predicted to grow at 14.5% a year to 2027, which, coupled with increases in other end-uses such as nickel alloys used in aerospace, paint a rosy picture for cobalt outlook across the next decade.

‘Demand will continue to grow’

The 2018 price correction was expected by some analysts, with Benchmark Mineral Intelligence analyst Casper Rawles noting he had anticipated the market to correct but was somewhat surprised by how much.

Rawles said: “There were some exceptions to the rule, but from the end of quarter one and throughout 2018, we’ve seen prices decreasing and continuing to fall.”

Explaining the downward trend, Rawles pointed to the increase in the price basis of raw material feedstocks from the DRC going into China and the resulting credit availability and cash flowing in China.

He remained cautious looking ahead, saying “demand will continue to grow, consumption of lithium-ion batteries is going to grow, but as of right now there’s enough cobalt around to meet the needs of the market”.

Rawles expects the recent election uncertainty in the DRC to potentially have small supply disruptions but these would be short-lived and have no impact on prices.

Advanced technology applications

Most cobalt is mined as a by-product of copper or nickel and is reliant on the strength of those markets.

The US Geological Survey estimates that 43% of world cobalt production in 2015 was from copper mining and 44% from nickel.

There is only one modern primary cobalt operation, the Bou-Azzer mine in Morocco, but that only contributes around 2% to global production.

Cobalt is useful in the manufacture of varying products due to its ferromagnetism and wear-resistance when alloyed with other metals.

The transition metal retains its magnetism at high temperatures and can be used in advanced technology applications as well as in superalloys and as a refining catalyst.

  Diversification of supply sources

More than 60% of the world’s cobalt production comes from the DRC, of which 10-25% is estimated to be artisanal in nature.

According to the US Geological Survey, total global cobalt production in 2017 was 110,000 tonnes, down from 111,000 tonnes the previous year.

The DRC contributed 64,000 tonnes in 2017 with Russia in second place at 5,600 tonnes.

Australia and Canada, the third and fourth highest producers respectively, have had added interest as cobalt jurisdictions due to stable mining codes, established supply chains and promising cobalt developments.

Darton Commodities Limited estimates that annual cobalt demand will exceed 120,000 tonnes by 2020, with further demand growth linked to potential technological advancements in the battery space.

The global hybrid and electric vehicle market grew by 33.2% in 2017, according to MarketLine data, and demand is predicted to keep rising through 2020.

This could potentially create substantial shortages in cobalt as early as 2022 with current production estimates.

A number of companies are actively developing cobalt projects in Australia and Canada which may soon begin contributing to global production if demand predictions and supply-side challenges persist.

Chinese contraction causes medium-term price weakness

Data shows China’s gross domestic product (GDP) has decreased for the past five consecutive quarters and the country’s leader Xi Jinping has remained vague on Beijing’s plans for a wider economic stimulus.

In terms of both supply and consumption China is a key market for base metals and its economic growth has a strong impact on prices and market sentiment.

According to Darton Commodities, China accounts for more than 80% of the production of cobalt chemicals and it remains a key producer of batteries.

Overall 2018 GDP growth for China is anticipated to be 6.6% and it is expected that the Chinese government will lower its economic growth target to 6%-6.5% in a March parliamentary session.

Forecasts from the International Monetary Fund for world GDP growth are 3.7% for both 2018 and 2019, including slower growth for the US and China at 2.5% and 6.2%, respectively.

India’s GDP is expected to grow by 7.4%.

Cobalt end-uses. Source: Benchmark Mineral Intelligence and Global Energy Metals.

  Trade dispute foments uncertainty

Talks between the US and China are ongoing and have assuaged some investor concern, but until the dispute is concretely resolved the market uncertainty will persist.

According to Fastmarkets MB Research, China is planning new incentives to boost domestic consumption for goods associated with metal demand including auto and home appliances.

Along with any further economic stimulus, the measures could spark a brief recovery in metals prices but would need an established trade deal to sustain upwards price pressure.

Scotiabank analysts reported in mid-October that the global trade dispute was not only the primary driver of the base metals slump but that also it would continue to have an affect up to 2020 and potentially beyond.

Scotiabank said: “US-China trade concerns remain front-and-centre for commodity markets with no obvious end in sight.

“We now believe that the US-China trade dispute will remain a slow-burn drag on industrial commodity sentiment through to the 2020 US presidential election.”

The Scotiabank analysts pointed out that prices were down despite falls in base metal stockpiles, with nickel inventories at five-year lows and copper down 50% over the last six months.

Cobalt driven by Chinese consumption

With demand sustained from downstream manufacturing sectors producing smartphones and electric vehicles, and supply primarily constrained to the volatile DRC, cobalt prices are likely to remain strong in future.

China imports 99.3% of the DRC's cobalt exports, making it the world's largest cobalt importer at 38% of global imports.

In order to secure stable supply, Chinese state-owned enterprises are increasingly investing in cobalt production in the DRC, with Bloomberg noting eight of the fourteen cobalt mines in the DRC are Chinese-owned.

The largest example is China Molybdenum which is now the world's second largest cobalt producer behind Glencore.

Limited corporate social responsibility and a lack of awareness of local supply chains have given Chinese enterprises an advantage in securing products for its cobalt refining and chemical industry.

Cobalt producers will need to produce more than 200,000 tonnes of cobalt in battery-grade chemicals a year by 2028, according to Benchmark, pushing total demand to 250,000-300,000 tonnes including consumption in other products.

Global cobalt resources by jurisdiction. Source: United States Geological Survey

  Defining new cobalt jurisdictions

While the DRC is expected to remain the world’s primary supplier of cobalt in the foreseeable future, the issues plaguing the mining industry in the central African country have prompted a spike in exploration for cobalt in other jurisdictions.

A number of Australian cobalt and battery metal developers are advancing work on projects both at home and abroad, aiming to define and extract economic cobalt resources.

READ: Artemis Resources recommences drilling at Carlow Castle, resource update pending

Artemis Resources Ltd (ASX:ARV) recently resumed aircore drilling at its 100%-owned Carlow Castle Gold-Copper-Cobalt Project in Western Australia’s Pilbara region.

Results from the program will be combined with other exploration data to design a resource development drill program scheduled for the March quarter 2019.

A JORC resource update is underway using the near-24,000 metres of previous drill data and is expected this year.

Initial metallurgical results indicate that Carlow Castle ore is amenable to low-cost gravity gold recovery and base metal flotation processes.

READ: Australian Mines’ BFS values Sconi Cobalt-Nickel-Scandium Project at $697 million

Australian Mines Limited (ASX:AUZ) released a definitive feasibility study (DFS) last year for its Sconi Cobalt-Nickel-Scandium in Queensland, valuing the project at $697 million.

The DFS estimates life-of-mine revenues of about $513 million a year, with average EBITDA at $295 million per year.

The company signed a binding term sheet with SK Innovation last year for the sale of all cobalt and nickel sulphate to be produced at Sconi and is also progressing financing discussions.

Historical mining in the area has produced 15,000 tonnes of cobalt and 327,000 tonnes of nickel.

READ: Blackstone Minerals raises $1.2 million for further exploration in Canada and Western Australia

Blackstone Minerals Ltd (ASX:BSX) is developing its landholding around the Little Gem project in Canada, which is rapidly emerging into British Columbia’s premier cobalt belt.

Last year Blackstone identified multiple new large-scale targets at the Jewel copper-gold-cobalt prospect within Little Gem.

The Jewel prospect is 1.1 kilometres northeast of the Little Gem prospect and is associated with the high-grade Jewel Underground Mine with historical production of 51 tonnes between 1938 and 1940.

Historical average mining grades of 73 g/t and 0.4% copper have been supported by Blackstone rock chip samples assaying up to 98 g/t gold, 3.2% copper and 0.1% cobalt.

  READ: Cape Lambert Resources highlights value in tailings pipeline

Cape Lambert Resources Limited (ASX:CFE) is focused on its Kipushi Cobalt-Copper Tailings Project in the DRC, from which it aims to recover cobalt from old tailings left behind in the hunt for copper.

The company has ambitions to produce thousands of tonnes of material a year near the town of Kipushi in the DRC’s Katanga Copper Belt.

The tailings dam extends for a kilometre, is more than 400 metres wide and up to 15 metres deep, and has enough material to last as long as five years.

Cape Lambert executive chairman Tony Sage said the company expected to produce about 2,900 tonnes of cobalt and 7,500 tonnes of copper a year, worth about US$200 million.

READ: Cobalt Blue’s Thackaringa drilling returns broad, high-grade cobalt results

Cobalt Blue Holdings Ltd (ASX:COB) is developing the Thackaringa Cobalt Project in western NSW with joint venture partner Broken Hill Prospecting Ltd (ASX:BPL).

Drilling at the Pyrite Hill deposit late last year reinforced the project’s potential for resource growth and a substantial mine life.

Pyrite Hill represents 36% of the existing 72 million tonne mineral resource and about 36% of the contained cobalt inventory of 61,500 tonnes.

Results from the first seven infill holes have confirmed substantial thicknesses of cobalt mineralisation consistent with the existing geological model.

They include: 68 metres at 1,128 ppm cobalt, 13.4% iron and 13.4% sulphur from 116 metres; and 52 metres at 1,042 ppm cobalt, 11.1% iron and 11.2% sulphur from 93 metres.

READ: Corazon Mining to advance knowledge of Mt Gilmore, Cobalt Ridge this quarter

Corazon Mining Ltd (ASX:CZN) aims to define a large deposit at the Cobalt Ridge prospect within its Mt Gilmore Cobalt-Copper-Gold project in northeast NSW.

The company is also developing the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.

Drilling at Cobalt Ridge included 5 metres at 2.14% cobalt within a broader intersection of 27 metres at 0.47% cobalt from 49 metres.

Results from a geochemical soil sampling program which ended in November indicated cobalt and copper values of up to 450 ppm and 1,060 ppm, respectively, and rock chip samples have graded up to 1,795 ppm cobalt and 16.3% copper.

  READ: Fe Limited advances copper-cobalt in DRC and is leveraged to highly prospective ground in WA

Fe Limited (ASX:FEL) is advancing its Kasombo Cobalt-Copper Project in the DRC towards production in the first quarter of 2020.

Kasombo is 25 kilometres from the DRC’s second largest city, Lubumbashi, in the Katanga Copper Belt.

Recent trenching returned elevated cobalt results including: 10 metres at 0.21% cobalt from 42 metres; and 12 metres at 0.23% cobalt from 17 metres.

FEL executive chairman Tony Sage said Kasombo could be a very viable copper-cobalt mine, but needed a little bit more work on the ground.

READ: Great Boulder Resources prepares for deeper drilling of nickel-rich Eastern Mafic target

Great Boulder Resources Ltd (ASX:GBR) is continuing to drill test targets at its Eastern Mafic nickel-copper-cobalt deposit within the Yamarna project in Western Australia.

A revised geological model based on geophysics and drilling completed in the Decemvber quarter infers that the Eastern Mafic intrusion was formed at depth and deep drilling will test this theory.

The company believes that drilling to date, which has returned encouraging copper, nickel and cobalt results, has only intersected the top of the intrusion, leaving the main body untested.

READ: Havilah Resources’ native title agreement paves way for mining lease at copper-cobalt-gold project

Havilah Resources Ltd (ASX:HAV) is progressing development of its Kalkaroo Copper-Cobalt-Gold Project in South Australia as well as its nearby Mutooroo Copper-Cobalt Project.

The company is aiming to find additional resources at Mutooroo to complement the maiden 100 million tonne resource at Kalkaroo, which contains 23,000 tonnes of cobalt.  

Havilah technical director Chris Giles said a 2018 achievement at Mutooroo was to confirm the cobalt potential of deeper ground at the project, with economic levels of cobalt, copper and gold found.

Mutooroo’s deposit contains 195,000 tonnes of copper and 8,400 tonnes of cobalt.

  READ: Meteoric Resources begins diamond drilling program at Joyce in Canada

Meteoric Resources NL (ASX:MEI) has recently begun drilling at its Joyce Copper-Cobalt-Gold Project in western Ontario, Canada.

Joyce is Meteoric’s highest priority target based on thick sequences of undrilled massive and disseminated sulphides exposed at surface.

Historical high-grade assays from Joynce include 11% copper, 0.3% cobalt and 8.07 g/t gold, confirming the potential of the system.

The mineral explorer also identified 18 cobalt targets from an airborne electromagnetic (EM) survey at its Mulligan East and Iron Mask projects last year.

READ: Marquee Resources prepares Werner Lake resource update, metallurgical sample

Marquee Resources Ltd (ASX:MQR) expects to update the mineral resource estimate for its high-grade Werner Lake Cobalt Project in Canada this quarter after earning into a 30% stake last year.

Drilling at Werner Lake has returned strong results such as 2.6 metres at 0.313% cobalt and 0.177% copper from 316.4 metres, including 1.6 metres at 0.406% cobalt and 0.176% copper.

Werner Lake features cobalt sulphide mineralisation and was discovered in the 1920s and mined in the 1940s.

Marquee’s other projects include the Skelton Lake Cobalt Project, also in Ontario, and the Clayton Valley Lithium Project in the US state of Nevada.

 

READ: Panoramic Resources on track for first shipment from recommissioned nickel-copper-cobalt project

Panoramic Resources Ltd (ASX:PAN) is aiming to recommission its Savannah Nickel-Copper-Cobalt Project in WA with the first concentrate shipment scheduled early next month.

The ramp-up to full underground mining production continues for the project in the Kimberley region while the process plant achieved a daily throughput rate of 2,000 tonnes early this month.

The company also holds platinum group metals and gold assets and its goal is to become a major diversified mining company.

READ: White Cliff Minerals’ new assays feature 40 metres at 0.22% cobalt and 1.75% nickel

White Cliff Minerals Ltd (ASX:WCN) is developing its Coronation Dam Cobalt Project in Western Australia, recently completing a 5,000-metre reverse circulation drilling program.

Highlighted drill results include: 40 metres at 0.22% cobalt and 1.75% nickel from 8 metres; and 36 metres at 0.1% cobalt and 0.88% nickel from surface.

The drilling has increased the extent of high-grade mineralisation to more than 600 metres long, 400 metres wide and with an average thickness of 20 metres.

Coronation Dam is 90 kilometres south of Glencore’s Murrin Murrin mining operation and 45 kilometres south of GME Resources Ltd’s (ASX:GME) proposed nickel-cobalt processing facility.

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Thu, 17 Jan 2019 16:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212832/cobalt-set-for-bearish-2019-but-demand-fundamentals-remain-strong-212832.html
<![CDATA[News - Vanadium prices remain strong into 2019 as further new energy applications are developed ]]> https://www.proactiveinvestors.co.uk/companies/news/212553/vanadium-prices-remain-strong-into-2019-as-further-new-energy-applications-are-developed-212553.html Vanadium was the best performing battery mineral in the last 12 months, based on price increases, with most of global supply going to steel production.

Present vanadium supply is largely dominated by coke production in steel markets, with vanadium use in batteries growing from a 1% share in 2015 to 2% in 2017.

In that same period, however, vanadium consumption from steel also increased its share from 68% to 76%.

More than 90% of vanadium consumption goes towards steel where an addition of 0.2% vanadium increases steel strength up to 100% and reduces weight by up to 30%.

Rising vanadium prices over the last three years have been partially caused by lower global inventory levels as total supply remains under pressure, as well as growing demand in traditional and new markets.

 

 

Produced primarily as a by-product, vanadium demand in standard applications such as strengthening steel will continue to grow and will be diversified through potential energy storage applications.

The mineral itself is derived from vanadium-titanium-magnetite (VTM) deposits, shale-hosted deposits or as secondary products from fossil fuels and uranium.

Near-term growth will be driven by steel production in developing countries as well as higher standards in rebar which will require more vanadium.

CSA Global principal consultant Tony Donaghy said vanadium consumption still had substantial room to grow in Asian steel markets due to further improvements in grade and purity.

Demand for vanadium use in rebar is increasing 6% annually and new Chinese rebar standards have doubled to reach the rest of the world.

Donaghy pointed out that analysts had predicted a significant deficit in vanadium by 2027, based on current projects in the pipeline and expected demand trends.

He also noted that a substantial downscaling of fossil fuel reliance in vanadium production was projected by 2050, potentially focusing global production on magnetite and shale-hosted deposits.

READ: Vanadium critical for renewable energy storage, hears Technology and Low Emission Minerals Conference

DJ Carmichael director of corporate finance Oliver Morse told Proactive Investors that it was always unusual to see a strong commodity price performance over one year considering vanadium's history of spikes and dramatic falls.

Noting the typical skepticism around vanadium prices, Morse said we might see some volatility in the price this year but due to structural changes in the demand side it won't fall as it had done in the past.

Morse said: "Battery consumption is the big unknown - the view is that at some point vanadium redox batteries will take off.

"Will that be in the next 24 months? Who knows.

"Nonetheless, it gives a nice blue sky element to vanadium, a diversification away from the steel market which is helpful if you are a developer like AVL.

"On the supply side it's also very interesting - environmental regulations in China ... have clearly had an impact and I think the price movement is well-explained by that."

Morse said there were currently only three specialist vanadium producers - Largo Resources Ltd (TSE:LGO), Bushveld Minerals Limited (LON:BMN) and Glencore PLC (LON:GLEN) - and that it was an interesting time for developing companies to be coming into the market.

He continued: "From a market point of view it's hard to have a lot of visibility.

"A lot of the information you can get is by word-of-mouth from those who have spent time in China's marketplace - it's not an LME price matter which partly explains the volatility, but structural changes will allow developers to get their projects funded."

Vanadium redox flow battery

An emerging application for vanadium is its use in the energy storage sector through vanadium redox flow batteries (VRFB).

The VRFB is a rechargeable flow battery that uses vanadium in different oxidation states to store energy, utilising vanadium’s unique property to exist in four different oxidation states when in solution.

The flow battery has unique advantages including high lifecycles, no capacity loss over time, simple scalability, improved safety and immediate and rapid energy release.

It is estimated by Roskill that vanadium demand in VFRB markets could rise to 31,000 tons by 2025, an enormous increase on the 1,000 tons that went to battery users in 2014.

Source: Bushveld Minerals

 

Low supply, high demand

Speaking to Proactive Investors, Australian Vanadium Ltd (ASX:AVL) managing director Vincent Algar explained vanadium’s strong price levels in terms of supply and demand.

Algar said: “Last year we saw the price move significantly up – it started at the end of 2015 and really bottomed-out at about $2.20 a pound [before moving] up principally because of the supply and demand imbalance that was occurring.

“[This] stemmed from an event about a year before that … where South African company High Veld Steel went into receivership and that cut a whole lot of tonnes out of the vanadium market and those tonnes are basically never to return.

“Demand was low so you ended up drifting down in price – as soon as you got to $2 a pound, you started to put a lot of people under pressure.

“So we basically had a gap in supply and an increase in demand all happening at the same time, that’s really what has driven the price up so high.

“It rose up to near-long term highest ever pricing last year, nearly touching $30 a pound, but that was an unsustainable peak and it started to come down.”

Positive price outlook into 2019

After a rallying run across 2018, the vanadium price saw a slight decrease at year-end, however this was seen by most analysts as a short-term dip.

Increasing demand in steel alloys and further development of vanadium battery applications, coupled with limited supply until 2022, is expected to sustain higher prices into 2019.

Algar continued: “We’ve seen the price come off and we that there’s a band between $10-$15 which we think the vanadium price is going to settle into.

“If it settles into that band it will effectively have moved off its long-term band which is about $5-$7 as a bottom band.

“If you look at vanadium over the last 15 years, it’s got two peaks.

“The most common peak is around $8 and the second peak is around $13 – so those are the two common pricing areas that the price will live in.

“The pre-feasibility study (PFS) we did at Gabanintha was done at $8 – we looked at the pits at $8 – but then we [also] reported $13 and $20.

“We think that over 25 years [the price] sits at $8 but at the moment it’s going to be comfortably sitting at the $10-$15 range because there’s simply no new supply.”

 

Flow batteries critical for renewable energy

In his presentation at the Technology and Low Emission Minerals (TLEM) Conference at Perth in November, ScandiVanadium Ltd (ASX:SVD) director and Bannerman Resources Ltd (ASX:BMN) managing director Brandon Munro briefed the audience on the critical role VRFBs will play in renewable energy.

He told investors and stakeholders that understanding renewable demand, and the role renewables can play, was intrinsically linked to his understanding of nuclear power demand.

Referring to the role of VRFBs and their energy storage solution, Munro said: “There’s a key piece missing, and that is that intermittent renewables, without a storage solution, are hugely destructive to the existing grid infrastructure that we have spent the last 100 years building.”

Munro added that without storage capacity to back-up intermittent renewables, he believed our societies would start to reject renewables because they would mess with grid infrastructure.

This leaves only two viable storage solutions for grid power – pumped hydro, which has a number of constraints, and the vanadium redox flow battery.

Multiple new energy applications

Algar shared Munro’s views on vanadium’s crucial place as a new energy mineral, highlighting the high-volume market potential for vanadium in batteries as well as its application in other developing technologies.

Speaking to Proactive, Algar noted the potential to use vanadium as part of the cathode process in lithium-ion batteries, which has significant benefits.

Explaining other avenues being explored for potential product development using vanadium, Algar detailed an innovation using vanadium oxide-based film as a window tint.

He said: “Vanadium has got this really bizarre property – like a photo effect – where if it’s put in a film on a window and gets over a certain temperature it becomes opaque.

“[This] is a huge energy-saver from the building’s point of view and has a huge implication not only for vanadium consumption but for energy use.

“There’s a lot of innovation happening in the vanadium space which involves other energy applications.

“For us as new companies, looking at new developments in our processing design, we have to consider where our markets will be.

“With the VRFB, its special place in grid energy storage and the growth of that market … is an incentive for us to stay involved with that side of it because it diversifies our ability to supply to disconnected markets.

“It means you can be selling to flow battery producers, energy retailers and producers, and you can be selling to the steel market – and because they’re in different cycles you’re in a good position."

 

Increasing penetration of VFRB technology

Algar detailed several developments in the vanadium battery space including VRFBs that are being installed or tendered.

redT Energy has installed a VRFB at Monash University late last year as part of the Smart Energy City Project, supported by ARENA.

A VRFB is being installed by Juwi on Heron Island for the University of Queensland’s research station and the University of Adelaide has recently tendered a 500 kilowatt, 2-megawatt-hour system.

Protean Energy Ltd (ASX:POW) is commercialising its patented V-KOR vanadium battery energy system and holds a multi-energy mineral project in South Korea.

Algar also mentioned Robert Friedland’s current 3 megawatt, 12-megawatt-hour battery as part of a larger 10 megawatt, 40-megawatt-hour system.

Algar added: “We’re seeing lots of innovation around welded stacks, new innovations in the technology to make the production of the battery cheaper to offset the rise in the price of vanadium.

“You really have to have the right load profile to actually justify a battery – once you put solar in almost all of your problems are gone.

“The domestic battery is a great opportunity when someone comes up with the right type of flow battery and we think that a company called Volterion from Germany has got the right idea.

“They’ve got a cheap, welded aluminium stack they can rapidly reproduce which is light and easy to fit.”

  READ: Australian Vanadium’s pre-feasibility study confirms robust economics for Gabanintha deposit

AVL has completed a baseline pre-feasibility study (PFS) for its Gabanintha Vanadium Project in Western Australia, which estimates a net present value (NPV) range for the project that has an upper end of US$2.37 billion when assuming a US$20 per pound vanadium price.

The base case demonstrates robust project fundamentals featuring competitive product costs and financials and will allow AVL to move quickly into piloting and a definitive feasibility study.

In November last year the company updated Gabanintha’s resource, reporting 183.6 million tonnes grading at 0.76% vanadium pentoxide.

The resource is 50 kilometres from the town of Meekatharra and includes a massive high-grade magnetite zone featuring 96.7 million tonnes at 1% vanadium.

Drilling in 2018 at Gabanintha focused on a consistent 3-10-metre-thick zone grading more than 1.2% vanadium in 10 of 11 holes.

The massive magnetite layer averages 14 metres in thickness.

Besides vanadium, Gabanintha also features titanium and iron, as well as cobalt, copper and nickel in sulphide minerals.

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Mon, 14 Jan 2019 23:38:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212553/vanadium-prices-remain-strong-into-2019-as-further-new-energy-applications-are-developed-212553.html
<![CDATA[News - Base metals perform poorly in 2018 with analysts expecting ‘heightened volatility’ in 2019 ]]> https://www.proactiveinvestors.co.uk/companies/news/212452/base-metals-perform-poorly-in-2018-with-analysts-expecting-heightened-volatility-in-2019-212452.html Following strong price gains in 2016-17, the base metals market began 2018 with a mild corrective descent before plunging steeply mid-year due mainly to the US-China trade dispute and China’s contracting economy.

The third and fourth quarters of 2018 saw price drops for nickel, copper, zinc and aluminium while tin and lead had marginal increases.

Cobalt was also affected by the ongoing market volatility, rallying to an all-time high of US$95,250 a tonne in March before dropping by more than 50% at year-end.

READ: Forecast copper supply constraints provide optimism despite 2018 price decline

Data shows China’s gross domestic product (GDP) has decreased for the past five consecutive quarters and the country’s leader Xi Jinping has remained vague on Beijing’s plans for a wider economic stimulus.

In terms of both supply and consumption China is a key market for base metals and its economic growth has a strong impact on prices and market sentiment.

China's third-quarter GDP growth in 2018 was at a nine-year low of 6.5%, compared with 6.7% for the second quarter.

Overall 2018 GDP growth is anticipated to be 6.6% and it is expected that China will lower its economic growth target to 6%-6.5% in a March parliamentary session.

Forecasts from the International Monetary Fund for world GDP growth are 3.7% for both 2018 and 2019, including slower growth for the US and China at 2.5% and 6.2%, respectively.

India’s GDP is expected to grow by 7.4%.

Trade dispute foments uncertainty

Talks between the US and China are ongoing and have assuaged some investor concern, but until the dispute is concretely resolved the market uncertainty will persist.

According to Fastmarkets MB Research, China is planning new incentives to boost domestic consumption for goods associated with metal demand including auto and home appliances.

Along with any further economic stimulus, the measures could spark a brief recovery in metals prices but would need an established trade deal to sustain upwards price pressure.

Scotiabank analysts reported in mid-October that the global trade dispute was not only the primary driver of the base metals slump but that also it would continue to have an affect up to 2020 and potentially beyond.

Scotiabank said: “US-China trade concerns remain front-and-centre for commodity markets with no obvious end in sight.

“We now believe that the US-China trade dispute will remain a slow-burn drag on industrial commodity sentiment through to the 2020 US presidential election.”

The Scotiabank analysts pointed out that prices were down despite falls in base metal stockpiles, with nickel inventories at five-year lows and copper down 50% over the last six months.

Challenging macro environment

The nickel price was representative of the year for base metals, gaining 14% in the first half to reach a yearly high of US$15,745 before losing 25% of its value by late December.

Despite the price volatility, Australian nickel companies were busy with Poseidon Nickel Ltd (ASX:POS), Ardea Resources Ltd (ASX:ARL), GME Resources Limited (ASX:GME), Iluka Resources Limited (ASX:ILU), Mincor Resources NL (ASX:MCR), St George Mining Ltd (ASX:SGQ) and Western Areas Ltd (ASX:WSA) advancing development and expansion projects.

Copper followed a similar pattern across the year, but the worsening global macro conditions could potentially be offset by forecast declines in global copper production and inventories in 2019.

According to JPMorgan estimates, China’s demand for copper has risen by 5%-6%, with head of metals strategy at the global commodities group Natasha Kaneva saying Chinese copper demand was not as bad as people thought.

The Bank of America Merrill Lynch was more cautious, noting prices were under pressure and the macro environment would remain challenging into 2019.

Five-year nickel price. Source: tradingeconomics.com

  Cobalt price correction

Cobalt’s price correction following its 2018 surge was expected by some analysts, with Benchmark Mineral Intelligence analyst Casper Rawles noting he had expected the market to correct but was somewhat surprised by how much.

Rawles said: “There were some exceptions to the rule, but from the end of quarter one and throughout 2018, we’ve seen prices decreasing and continuing to fall.”

Explaining the downward trend, Rawles pointed to the increase in the price basis of raw material feedstocks from the DRC going into China and the resulting credit availability and cash flowing in China.

He remained cautious looking ahead, saying “demand will continue to grow, consumption of lithium-ion batteries is going to grow, but as of right now there’s enough cobalt around to meet the needs of the market”.

Rawles expects the recent election uncertainty in the DRC to potentially have small supply disruptions but these would be short-lived and have no impact on prices. 

Six-year cobalt price. Source: tradingeconomics.com

  Zinc lower

The price of zinc did not fare better in 2018 either, sitting at about 23% lower in mid-December than its January starting point of US$3,375 a tonne.

Zinc LME stockpiles are down to 120,000 tonnes from 250,000 in late July, with the near-critical inventory level to potentially create a short-term recovery.

Whether this will be sustained past the first quarter 2019 is a point of contention among analysts, as hard-to-predict factors around the US-China relationship and cautious investor sentiment have not subsided.

Bearish outlook

SBICAP Securities research analyst Kaynat Chainwala said base metal prices may remain subdued in the first quarter of 2019.

Chainwala said: “In March the US and China are expected to get into talks and this will be crucial for base metals.

“Brexit in March will also put the market in a cautious mode.”

Falling cobalt prices in December have led to a bearish outlook for the battery metal in 2019, as the market is expected to move into a surplus.

Fastmarkets head of battery raw materials research Will Adams said: “The fact the market did not rebound on news that Glencore was to halt exports from Katanga while it builds an ion-exchange plant [is] further evidence of bearish sentiment.”

“Even if exports are halted in the first half of the year, the market … will be well-supplied with stockpiled material.”

‘Heightened volatility’ in base metals industry

S&P Global downgraded its nickel forecast at the beginning of year from US$13,500 a tonne to US$12,000 for 2019 and from US$14,000 a tonne to US$12,500 for 2020.

Zinc was also slightly downgraded while the copper forecast remains steady at US$6,100 a tonne for 2019 before increasing by US$100 in 2020.

Moody’s said in an October note that it expected growth rates to be slow in 2019 but at a level supportive of a stable outlook.

The analysis pointed to trade tensions, tariffs, changing trade patterns and event risk as the drivers of price sentiment and that the company anticipated “heightened volatility” a hallmark of the base metals industry.

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Sun, 13 Jan 2019 21:21:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212452/base-metals-perform-poorly-in-2018-with-analysts-expecting-heightened-volatility-in-2019-212452.html
<![CDATA[News - Oil supply reductions to potentially push up crude prices amid fundamental sector challenges ]]> https://www.proactiveinvestors.co.uk/companies/news/212284/oil-supply-reductions-to-potentially-push-up-crude-prices-amid-fundamental-sector-challenges-212284.html Following peaks above US$100 a barrel in mid-2014, the oil industry witnessed a sharp and sustained drop in crude prices, reaching as low as US$25 a barrel at the beginning of 2016.

The past year has given optimistic signs to industry participants and investors, with the price slowly climbing to above US$75 a barrel at the end of September.

However, substantial price fluctuations throughout 2018 and a steep drop in the December quarter to just above US$40 a barrel suggest further catalytic price activity can be expected.

Intrinsic volatility of sector

Pwc’s report ‘Oil and Gas Trends 2018-19’ noted the intrinsic volatility of the sector as its fundamental challenge, saying “oil and gas companies must develop a resilient strategy to mitigate [market and new energy transition] risks”.

The report’s authors foresee a supply crunch for oil and gas which would potentially put upwards pressure on prices.

Deloitte’s 2018 oil industry outlook sees the year’s price recovery a result of the ongoing production restraint agreement between OPEC and non-OPEC and continued strong global oil demand growth.

The Energy Information Administration estimates global oil demand growth was about 1.6 million barrels a day in 2018.

Production cuts to lift prices

OPEC met in mid-December and agreed to cut 1.2 million barrels a day starting in January in response to the global oversupply.

The producing economies hope that production curtailments will drive prices higher, despite US shale production steadily increasing.

Responding to the growth in US shale oil production concurrent with falling investment in conventional sources, the International Energy Agency (IEA) refers to a ‘two-speed oil market’.

In their World Energy Outlook 2017, the IEA said “the world needs to find an additional 2.5 million barrels a day of new production each year, just for conventional output to remain flat”.

Source: BP Energy Outlook 2018 

  Potential price recovery

In their biannual Global Oil Supply and Demand and Outlook, McKinsey predicted average oil prices to stay in the US$60-70 a barrel range if current geopolitical uncertainties subside and OPEC increases production.

Prices could potentially go as high as US$80-90 per barrel, according to McKinsey, if existing supply disruptions such as Venezuelan production cuts or sanctioned Iranian exports continue.

Oil production in Venezuela has come down to about 1.5 million barrels a day, a 40% decrease from the 2.5 million barrels being produced in early 2015.

Libya is currently producing 990,000 barrels a day, down from the 1.5 million barrels being produced in 2012.

Political and financial catalysts

A factor of significant importance to the oil price in 2018 has been the turbulent geopolitics emanating from Washington.

US President Donald Trump’s decision to reimpose sanctions on Iran in November before changing tack and providing waivers on Iranian oil exports caused prices to surge and then plummet.

Trump’s tweets directed at OPEC, as well as the unresolved trade dispute with China, have also caused a degree of uncertainty across markets.

Another important consideration for oil in 2019 and beyond is the potentially disruptive growth seen in the electric vehicle and battery space.

The BP report Energy Outlook 2018 notes this key uncertainty depends on several hard-to-predict factors, such as government policy, technological improvements and social preferences.

Other potential developments such as bans on internal combustion engine (ICE) vehicles or disruptive battery and energy technologies could potentially cause further volatility.

  Supply-side challenges

While supply is generally being curtailed, Pwc pointed out several supply-related challenges such as the ongoing decline in new discoveries.

The report said: “By the end of 2017, the volume of new oil and gas discoveries was its lowest since the early 1950s.

“To put this into perspective, only 3.5 million barrels of liquids (crude, condensate and natural gas liquids) were discovered in 2017, which was enough to meet only 10% of demand.

“The reasons for this decline are simple: it’s getting harder to find the large discoveries known as ‘elephants’ and most prospective areas have already been explored.”

A second challenge, according to the report, is the subdued growth in exploration spending since the price collapse in 2014-16.

“Globally, spending fell by more than 60%, from a high of US$153 billion in 2014 to about US$58 billion in 2017.

“It is forecast to recover modestly over the near-term at a 7% compound annual growth rate.

“The investment slump in traditional supply sources looks like it will continue to have an effect on new production.

 “Given that it takes about three to six years from project sanctioning to coming onstream, the decline in investment approvals during the price slump could continue to hurt the sector if financial investment decisions remain constrained.”

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Thu, 10 Jan 2019 01:25:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212284/oil-supply-reductions-to-potentially-push-up-crude-prices-amid-fundamental-sector-challenges-212284.html
<![CDATA[News - Lithium outlook uncertain amid growing demand, oversupply and potential disruptive technologies ]]> https://www.proactiveinvestors.co.uk/companies/news/212201/lithium-outlook-uncertain-amid-growing-demand-oversupply-and-potential-disruptive-technologies-212201.html Lithium prices during 2018 suffered heavy losses as major miners lifted production and China slowed its burgeoning new energy vehicle market.

Demand fundamentals remain secure but the prospect of oversupply until at least 2022, and the uncertainty around potential disruptive technologies in the medium-term, have stymied lithium’s decade-long price hike.

Prices in China dropped to US$13,000 a ton in August from a peak of $24,750 in March, according to Benchmark Mineral Intelligence.

While demand is expected to be maintained through 2019, lithium carbonate prices are also expected to remain under pressure as global supply continues to grow.

Supply growing faster than demand

Fastmarkets BM head of research base metals & battery materials William Adams said lithium supply was expected to grow at a faster pace than demand once again.

He noted most of the price weakness in 2018 was due to the lithium supply response and exponential growth from the electric vehicle sector and lack of supply will see prices spike again by 2025.

Orocobre Limited (ASX:ORE) chief executive Richard Seville expressed reluctance to provide guidance on pricing but said it was not feeling strong.

He said: “We are not expecting a rebound in pricing at this point in time.”

The lithium carbonate producer’s share price lagged in late December after announcing prices it received for lithium output dropped in the December 2018 half-year.

An average of $10,800 per tonne on about 2,850 tonnes of lithium was received by Orocobre in the fourth quarter, representing an 8% decline on the previous half and more than 26% lower than the $14,699-per-tonne the company received in the preceding quarter.

Source: Fastmarkets

  Diversification of lithium sector

A key uncertainty in lithium’s medium-term outlook is the growing diversification of the sector and evolving structure of the industry.

Analysis from Moody’s noted that the industry had gone from “a few majors producing battery-grade lithium from low-cost brine in Chile and Argentina and low-cost ore from the Greenbushes rock mine in Australia, to a more diverse industry structure”.

The new structure includes rock-based entrants mining ore in Australia and selling spodumene to China, as well as new rock and brine-based suppliers in Brazil, Canada and the US.

Moody’s vice president & senior credit officer Joseph Princiotta said the 2020-22 period would be particularly oversupply due to a concentration of new and conversion start-ups.

The Moody’s analysis expects the battery industry to drive mergers and acquisitions in the lithium space while also anticipating evolving technologies in the longer-term.

Perth a potential new energy hub

Attention fell on Western Australia’s potential downstream processing industry in 2018 with Perth hosting the 15th annual Technology and Low Emission Minerals (TLEM) Conference in November.

Keynote speaker the Hon Bill Johnston MLA, WA Minister for Mines and Petroleum, told the conference that Western Australia, with its abundance of battery metals and technological know-how, can take advantage of future opportunities in emerging battery-related industries.

He noted that along with a focus on best practice, Western Australia has low sovereign risk and world-class resources, with three of the four best hard-rock lithium projects in the world.

The state is the world’s leading producer of lithium – 44% of world supply in 2017 came from WA’s seven operating lithium mines.

All other minerals used in battery components are mined, including globally significant nickel resources across 87 deposits and eight operational mines.

Source: WA Chamber of Commerce and Industry

  Lithium still leading WA battery minerals

Since 2017, investment in lithium mining and downstream processing in WA has seen projects worth $4 billion completed, under construction or planned.

This includes the Tianqi lithium plant nearing completion in Kwinana’s industrial area, which will be the largest lithium hydroxide plant in the world.

Speaking at TLEM, Argonaut Limited director of metals, mining & energy research Matthew Keane provided a market update, stating that battery metals had all sold down heavily in the second half of 2018.

Keane said: “In terms of small resources, it’s been a very challenging half-year.

“The impact of trade wars, the US dollar strengthening, it has had a large impact.”

Despite the price sell-down, Keane said the next wave of lithium projects was approaching, along with a number of Western Australian companies expanding their production. 

Keane noted Pilbara Minerals Ltd’s (ASX:PLS) 800,000-850,000-tonne expansion of its Pilgangoora Lithium-Tantalum Project, which went from first drill hole to production in four years.

He also listed Mineral Resources Limited’s (ASX:MIN) spodumene concentrate expansion to 750,000 tonnes and Kidman Resources Ltd’s (ASX:KDR) Mt Holland joint venture which has increased production to 315,000 tonnes spodumene concentrate and 45,000 tonnes lithium hydroxide.

A 3D overlay of plans for stage II at Pilgangoora

  Battery mineral predictions

Making a prediction on the future of battery metals, Keane said that we are on the cusp of an electric vehicle minerals boom and the uptake of disruptive technology was exponential not linear.

Keane said that medium-term lithium prices were likely to move closer to US$10,000 per tonne of lithium carbonate before returning up to US$20,000 per tonne.

He said we will see more active upstream investment from the US and Europe as electric vehicle manufacturers compete with China, as well as increasingly focusing on supply chains outside of China.

As markets balance, Keane expects to see a higher focus on quality, potentially moving from direct shipping ore (DSO) operations to those producing high-purity concentrates.

Cobalt will remain critical for charge-discharge moderation in lithium-ion batteries and will attract premium pricing for non-African supply.

Battery demand for nickel will move towards 15-20% of the total nickel market by 2025, accelerated by advancements in refining and processing nickel sulphates.

READ: Technology and Low Emission Minerals Conference hears WA ready to leverage battery power revolution

A number of Australian lithium developers are advancing work on projects both at home and abroad, aiming to produce both lithium hydroxide and carbonates.

READ: American Pacific Borate & Lithium highlights strong financials of 'low-risk' US project

American Pacific Borate & Lithium Ltd (ASX:ABR) released a definitive feasibility study (DFS) last year for its Fort Cady Borate Project in California.

The DFS has evaluated mining of the Fort Cady borate deposit to produce a high purity (99.99%) boric acid (H3BO3) product along with sulphate of potash (SOP).

Importantly, the DFS forecasts an unlevered, post tax net present value of US$1.25 billion ($1.7 billion) and an internal rate of return (IRR) of 41%.

The study models a project where borate acid could be solution-mined below ground then brought to the surface to be upgraded with a solvent extraction and crystallisation process.

The company would produce gypsum as part of its extraction process, and sulphate of potash during processing, with hydrochloric acid then being a by-product credit to be used to again mine the project’s borate resources.

READ: Argosy Minerals confirms strong economics for Rincon Lithium Project in Argentina

Argosy Minerals Ltd (ASX:AGY) continues to fast-track the development of its flagship Rincon Lithium Project in Argentina.

The company achieved a key milestone in the September quarter in producing a successful and scalable chemical process solution to produce battery-grade quality lithium carbonate (LCE).

About 500 kilograms of LCE product has been produced to date.

Argosy believes the exclusive chemical process technology is effectively proven for utilisation of future development stages at the Rincon Lithium Project.

 

READ: Core Lithium boosts lithium inventory with maiden Carlton resource

Core Lithium Ltd (ASX:CXO) is developing the Finniss Lithium Project near Darwin and last year lodged an application for a mining lease at the Grants prospect with the NT Government.

A definitive feasibility study focused on mining and production of high-grade lithium concentrate at Finniss is currently underway and on track for completion later this quarter.

Core completed a pre-feasibility study for Finniss in June 2018, indicating the project would be a low-capex lithium concentrate operation with globally competitive cash costs, high operating margins and rapid capital payback.

The Grants deposit is expected to generate a net present value (NPV) of $140 million pre-tax with an internal rate of return (IRR) of 142% at an average concentrate price of US$649 per tonne.

READ: Galan Lithium receives drilling permits for Candelas Lithium Brine Project in Argentina

Galan Lithium Ltd (ASX:GLN) is defining the Candelas prospect within its Hombre Muerto Lithium Project in Catamarca Province, Argentina, also known as the ‘lithium triangle’.

Galan has been de-risking the project through soil sampling and geophysics and has made plans to drill test defined targets.

Recent survey work conducted over the project’s western basin targets delineated new discoveries of lithium-bearing brines, adding to the project’s potential scalability.

The company expects to post a maiden JORC resource before the end of the financial year.

READ: Infinity Lithium scoping study supports lithium hydroxide operation

Infinity Lithium Corporation Ltd (ASX:INF) is leveraging growing market demand for lithium hydroxide in the production of cathode batteries as it develops processing routes for its San Jose Lithium Project ore.

Last year the company expanded its lithium hydroxide scoping study at the Spain-based project to include further hydroxide as well as lithium sulphate flowsheet development.

The expanded study comes after the company identified the hard-rock San Jose resource has a natural advantage over brine producers due to a straight conversion process via a lithium sulphate transitional pathway.

Infinity is advancing its lithium hydroxide study in direct response to the evolving battery chemicals market, with lithium hydroxide demand continuing to grow faster than lithium carbonate.

Most of the recent global investments in lithium chemical plants have been in lithium hydroxide production as lithium-ion battery makers move towards higher-energy density and nickel-rich cathodes.

Looking east over ioneer's Rhyolite Ridge south basin

  READ: ioneer’s high-grade lithium-boron drill results indicate potential to improve cash flow

ioneer Ltd (ASX:INR) released a pre-feasibility study (PFS) for its flagship Rhyolite Ridge Lithium-Boron Project in the US state of Nevada last year, modelling a 30-plus-year mine life.

The PFS put forward a notable low cost for producing lithium equivalent, due to the high volume and value of the boron by-product it would produce along with lithium carbonate.

ioneer's study put the Rhyolite Ridge project’s after-tax net present value (NPV) at US$1.8 billion at a 7% real discount rate.

The after-tax internal rate of return (IRR) was 27.7%, making the payback period on the 30-plus-year mine a short 4.1 years.

Initial capital expenditure (capex) was US$426 million including indirect costs and contingency plus $173 million for a lump-sum turnkey sulphuric acid plant.

READ: Lithium Australia finalises option over Youanmi Lithium Project

Lithium Australia NL (ASX:LIT) has designed disruptive technologies to furnish the lithium battery industry with ethical and sustainable supply solutions.

Through its SiLeach and LieNA lithium extraction processes, along with quality cathode material production from wholly-owned subsidiary VSPC Ltd, the company seeks to establish a vertically-integrated lithium processing business.

Stage II processing trials of SiLeach are ongoing at a facility in Sydney, with the objective of using the processing technology to convert mine waste into lithium-ion batteries.

The company is also reassessing the pilot plant location to optimise technical and financial benefits.

This process will take into account the principal financial considerations together with intangibles such as the ability to manage research & development in offshore jurisdictions.

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Wed, 09 Jan 2019 00:08:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212201/lithium-outlook-uncertain-amid-growing-demand-oversupply-and-potential-disruptive-technologies-212201.html
<![CDATA[News - Forecast copper supply constraints provide optimism despite 2018 price decline ]]> https://www.proactiveinvestors.co.uk/companies/news/211939/forecast-copper-supply-constraints-provide-optimism-despite-2018-price-decline-211939.html Following a strong first-half rally in 2018, the copper price dropped amid a slowing Chinese economy and subdued activity in the US and Europe.

Closing the year at around 25% below its June peak, concerns surrounding the strained US-China trade relationship and China’s gradual economic slowdown have been sustained into the New Year.

Rhetoric from China’s leader Xi Jinping regarding the country’s commitment to a “Made in China 2025” policy, as well as little indication of a much-needed economic stimulus, have not assuaged investors and caused further steep declines in the copper price during December.

However, worsening global macro conditions could potentially be offset by forecast declines in global copper production and inventories in 2019, which would positively influence prices.

S&P Global predicts copper will remain at $6,100 a tonne in 2019, rising by $100 in 2020 and again in 2021 to reach $6,500 a tonne.

The copper price today is sitting at just above $5,681 a tonne, or $2.577 a pound.

China’s slowdown

A research report from Citigroup in mid-December recognised the persistent concerns over China’s macroeconomic conditions in 2019.

The report said: “Mixed China macro data, including a sharp slowdown in household consumption, call for more policy fine-tuning into 2019.

“On the positive side, investment across infrastructure, manufacturing and property improved with levels of infrastructure investment surging in November following weak readings over the past few months.”

Credit Suisse analysts expressed optimism in another report released in December, stating they could not rule out the Chinese government reacting to trade tensions and growth pressures by further infrastructure and construction investments.

This tried-and-tested method would provide a boost for commodity demand.

Slow start to 2019

The New Year began with further steep falls after data suggested China's manufacturing sector contracted in December, with global markets all closing lower on Wednesday.

The ASX was down 1.6% while the Hang Seng, Shanghai Composite, FTSE, CAC and DAX all dropped between 1%-3%.

Forecasts from the International Monetary Fund for world gross domestic product (GDP) growth are 3.7% for both 2018 and 2019, including slower growth for the US and China at 2.5% and 6.2%, respectively.

India’s GDP is expected to grow by 7.4%.

Supply-side optimism

According to JPMorgan estimates, China’s demand for copper has risen by 5%-6%, with head of metals strategy at the global commodities group Natasha Kaneva saying Chinese copper demand was not as bad as people thought.

The Bank of America Merrill Lynch was more cautious, noting prices were under pressure and the macro environment would remain challenging into 2019.

Coupled with growing demand, forecast supply cuts from some of the world’s largest copper producers give some optimism to investors regarding the copper price over the next 12 months.

Production at the Grasberg Copper Mine in Indonesia, operated by Freeport McMoran (NYSE:FCX) and Rio Tinto (LON:RIO), will fall by more than 50% next year as the mine transitions to underground operations.

The transition is expected to reduce copper supply in the market by about 300,000 tonnes, or 1.5% of annual copper mine production.

BHP Billiton Ltd’s Escondida Copper Mine in Chile is also expected to produce less copper this year.

Sustained demand yet to show effect

Speaking at the 14th Asia Copper Conference in Shanghai, a Morgan Stanley representative said many industry participants were frustrated that recent strong demand and falling exchange inventory had not resulted in a higher price.

The investment bank’s speaker said supply growth to replenish falling stockpiles would be limited while disruption risk remained.

“We maintain our base case forecast of a modest deficit in the copper market in 2019 of around 240,000 tonnes based on China’s refined demand growth.

“Limited copper cathode inventory and weak supply growth make the copper market well-positioned to weather any slowdown in China’s demand, with little prospect of a significant surplus developing.

“Price upside is likely to remain limited until macroeconomic sentiments turns positive.”

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Thu, 03 Jan 2019 21:47:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211939/forecast-copper-supply-constraints-provide-optimism-despite-2018-price-decline-211939.html
<![CDATA[News - Surefire Resources NL gets ready to raise ]]> https://www.proactiveinvestors.co.uk/companies/news/170433/surefire-resources-nl-gets-ready-to-raise-170433.html The halt will remain in place until the opening of trade on Friday 16th December 2016, or earlier if an announcement is made to the market.

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Wed, 14 Dec 2016 08:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/170433/surefire-resources-nl-gets-ready-to-raise-170433.html
<![CDATA[News - Sunbridge Group Ltd granted an ASX trading halt ]]> https://www.proactiveinvestors.co.uk/companies/news/165185/sunbridge-group-ltd-granted-an-asx-trading-halt-70948.html Sunbridge Group Ltd (ASX:SBB) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Sunbridge requested the halt to reply to an ASX Aware letter received on 7 September.

The halt will remain in place until the opening of trade on Tuesday 13th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 09 Sep 2016 11:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165185/sunbridge-group-ltd-granted-an-asx-trading-halt-70948.html
<![CDATA[News - Kyckr Ltd lists on the ASX, develops unique corporate identity service ]]> https://www.proactiveinvestors.co.uk/companies/news/165184/kyckr-ltd-lists-on-the-asx-develops-unique-corporate-identity-service-70905.html Kyckr Ltd (ASX:KYK) commenced trading today after a successful IPO raising circa $5 million through the issue of shares priced at $0.20.

Kyckr provides ‘Know Your Business’ (KYB) compliance services to clients in any sector that is open to fraud and money laundering, by providing corporate data in exchange for a subscription fee.

The company’s network of corporate data includes 70 million legal entities from 150 business registries around the world.

Kyckr is looking to benefit from the tightening of anti-money-laundering and counter-terrorism financing regulations across the world.

The company has also developed a corporate identity blockchain capability that will accompany Kyckr’s commercially proven automation model for KYB.

Blockchain technology, which incorporates unique identifiers for each financial transaction, is expected to enhance Kyckr’s service offering.

Kyckr had announced unaudited revenue of $1.2 million for FY2016, a 124% increase over FY2015 revenue of $542,735.

The global compliance market is estimated to be worth US$70 billion - US$80 billion.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 07 Sep 2016 14:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165184/kyckr-ltd-lists-on-the-asx-develops-unique-corporate-identity-service-70905.html
<![CDATA[News - ASX All Ords rudderless, commodities flat and Wall Street on holiday ]]> https://www.proactiveinvestors.co.uk/companies/news/165183/asx-all-ords-rudderless-commodities-flat-and-wall-street-on-holiday-70886.html The ASX All Ordinaries traded in a tight 20-point band today, as there were few leads to spark buyers, or sellers, into action.

The benchmark index ended the session down 0.3% at 5507.

Wall Street was closed for the Labor Day weekend. Gold last traded a fraction lower at US$1326 an ounce at 4pm Sydney, Australia, time.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) up 1.2% to $20.59; Fortescue Metals Group (ASX:FMG) up 2.6% to $5.15; Newcrest (ASX:NCM) down 2.3% to $22.54; Rio Tinto (ASX:RIO) up 1.0% to $48.60.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 0.4% to $6.60; Santos (ASX:STO) up 0.1% to $4.43; Woodside Petroleum (ASX:WPL) up 1.1% to $28.83.


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.0% to $27.24; Commonwealth Bank (ASX:CBA) down 0.8% to $71.69; National Australia Bank (ASX:NAB) up 0.1% to $27.65; Westpac (ASX:WBC) down 0.4% to $29.54.


Other banks, financials and industrials

AMP (ASX:AMP) up 1.5% to $5.44; Bank of Queensland (ASX:BOQ) up 1.5% to $10.77; Bendigo and Adelaide Bank (ASX:BEN) down 2.8% to $10.54; Macquarie Group (ASX:MQG) down 0.2% to $81.99; Suncorp (ASX:SUN) down 1.3% to $12.72; Telstra (ASX:TLS) down 0.7% to $5.11%.


Retailers

JB Hi-FI (ASX:JBH) up 4.8% to $30.66; Wesfarmers (ASX:WES) down 0.2% to $42.51; Woolworths (ASX:WOW) up 0.1% to $24.08.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 06 Sep 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165183/asx-all-ords-rudderless-commodities-flat-and-wall-street-on-holiday-70886.html
<![CDATA[News - Integral Diagnostics Ltd joins Siemens for healthcare technology pilot ]]> https://www.proactiveinvestors.co.uk/companies/news/165182/integral-diagnostics-ltd-joins-siemens-for-healthcare-technology-pilot-70874.html Integral Diagnostics Ltd (ASX:IDX) has entered into an agreement with Siemens Healthineers Enterprise Services and Solutions to run a global pilot over the next 3 years.

Integral is a provider diagnostic imaging services to general practitioners, medical specialists and their patients in Australia.

Partnering with Siemens Healthineers as part of the global pilot will enable the company to identify, and have access to, technological solutions ahead of the market.

Integral recently announced FY 2016 revenue of $167.8 million, an increase of 10.9% compared to FY2015.

Importantly, statutory net profit after tax was $11.4 million in FY 2016, an increase of 137% compared to FY2015.

The strong results have allowed the company to declare a maiden dividend of $0.04 per share, fully franked.

The long term prospects for the diagnostics industry looks bright, underpinned by growth opportunities from an ageing population requiring greater healthcare support.

Being part of the global pilot program is expected to provide Integral with early access to Siemens’ innovative and disruptive technologies.

Integral is well funded with a cash balance of $24 million as at 30 June 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 06 Sep 2016 14:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165182/integral-diagnostics-ltd-joins-siemens-for-healthcare-technology-pilot-70874.html
<![CDATA[News - Novatti Group Ltd to support WeChat payments in Australia ]]> https://www.proactiveinvestors.co.uk/companies/news/165181/novatti-group-ltd-to-support-wechat-payments-in-australia-70867.html Payment technology provider Novatti Group Ltd (ASX:NOV) has signed a deal to support WeChat Wallet financial transactions for Chinese consumers in Australia.

This is the first deal for Novatti’s Trusted Party Services business, which was launched after a successful two-month trial, providing the company with an immediate source of recurring revenue.

The agreement was signed with RoyalPay Australia, a company providing smart IT solutions for the finance industry, including funds and transactions management.

Chinese tourists have difficulty using credit cards in Australia as they are not on the global payment networks and WeChat Wallet provides them one of the easiest ways to use e-payments here.

WeChat is China’s largest social media messenger app with more than 700 million registered users.

Novatti will receive a monthly fee as well as a commission for each transaction made using WeChat Wallet in Australia.

Chinese tourists make up the largest segment of Australia’s inbound tourism market, and an estimated one million Chinese visitors are expected to visit this country in 2016.

Furthermore, these tourists are forecast to spend $2.5 billion on retail goods while in Australia.

Novatti’s total revenue for the year ended 30 June 2016 was $4.9 million, up 58% compared with $3.1 million for FY15.

The company is well-funded, with cash on hand of $4.33 million as at 30 June 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 06 Sep 2016 10:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165181/novatti-group-ltd-to-support-wechat-payments-in-australia-70867.html
<![CDATA[News - LiveHire Ltd launches online recruitment solution for Telstra Health ]]> https://www.proactiveinvestors.co.uk/companies/news/165180/livehire-ltd-launches-online-recruitment-solution-for-telstra-health-70863.html LiveHire Ltd (ASX:LVH) has signed an agreement with Telstra Health, launching the ‘Live Talent Community’ recruitment solution for one of Australia’s largest eHealth businesses.

LiveHire uses a cloud-based recruitment platform where potential candidates privately connect with companies by becoming part of a virtual talent community.

Under the new agreement, Telstra Health will implement LiveHire to manage the flow of talent into and across its entities.

Telstra Health is a business division of Telstra Corporation Ltd (ASX:TLS) and one of Australia’s largest eHealth businesses.

Telstra Health will use LiveHire and its Talent Community platform as a centralised location to manage talent and carry out proactive recruitment.

LiveHire started trading on the ASX in June after raising $10 million from an IPO at $0.20 per share.

LiveHire’s business model works by charging the company owning the talent community a monthly hosting fee of $0.50 per talent community member.

A capped fee structures could sometimes be used during initial growth phases to support on-boarding new clients.

McKinsey & Co have stated that by 2025, online talent platforms could boost global GDP by $2.7 trillion annually.

Effective recruitment is still an issue in Australia with the average hire taking 68 days.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 06 Sep 2016 10:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165180/livehire-ltd-launches-online-recruitment-solution-for-telstra-health-70863.html
<![CDATA[News - HJB Corporation Ltd to reveal material transaction ]]> https://www.proactiveinvestors.co.uk/companies/news/165179/hjb-corporation-ltd-to-reveal-material-transaction-70865.html HJB Corporation Ltd (ASX:HJB) is preparing to reveal details of a material transaction and capital raising.

The ASX has granted a trading halt to prepare, with the company's shares placed in pre-open.

The halt will remain in place until the opening of trade on Thursday 8th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 06 Sep 2016 09:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165179/hjb-corporation-ltd-to-reveal-material-transaction-70865.html
<![CDATA[News - Telstra Ltd among Monday's ASX Volume Leaders ]]> https://www.proactiveinvestors.co.uk/companies/news/165178/telstra-ltd-among-mondays-asx-volume-leaders-70858.html 88 Energy Ltd is Monday's ASX Most Traded with 84 million.

Company NameCodeLastChangeVolume 88 Energy Ltd 88E $0.046 -23.3% 84,204,610 Fastbrick Robotics Ltd FBR $0.070 14.6% 42,137,663 Telstra Corporation Ltd TLS $5.150 0.6% 34,209,014 Beacon Minerals Ltd BCN $0.005 0% 33,310,133 Sipa Resources Ltd SRI $0.021 10.6% 32,712,165 Alumina Ltd AWC $1.490 8.4% 27,484,466 Medibank Private Ltd MPL $2.740 1.2% 27,225,683 Manas Resources Ltd MSR $0.004 -20% 26,135,000 Bass Metals Ltd BSM $0.013 0% 24,686,037 Winmar Resources Ltd WFE $0.004 0% 21,100,000

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 06 Sep 2016 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165178/telstra-ltd-among-mondays-asx-volume-leaders-70858.html
<![CDATA[News - ASX All Ords rockets higher, holds gains to the close ]]> https://www.proactiveinvestors.co.uk/companies/news/165177/asx-all-ords-rockets-higher-holds-gains-to-the-close-70857.html The Australian equity market jumped at the open and held its gains throughout the trading day.

The benchmark ASX All Ordinaries closed 1% higher at 5524.


BLUE CHIP ROUND-UP

Major miners

BHP Billiton (ASX:BHP) up 2.5% to $20.34; Fortescue Metals Group (ASX:FMG) up 3.7% to $5.02; Newcrest (ASX:NCM) up 3.2% to $23.08; Rio Tinto (ASX:RIO) up 1.4% to $48.10.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 1.3% to $6.60; Santos (ASX:STO) up 3.0% to $4.43; Woodside Petroleum (ASX:WPL) up 1.4% to $28.48.


Big 4 banks

ANZ Bank (ASX:ANZ) up 1.3% to $27.19; Commonwealth Bank (ASX:CBA) up 1.9% to $72.23; National Australia Bank (ASX:NAB) up 1.5% to $27.56; Westpac (ASX:WBC) up 1.7% to $29.67.


Other banks, financials and industrials

AMP (ASX:AMP) up 2.1% to $5.35; Bank of Queensland (ASX:BOQ) up 0.2% to $10.60; Bendigo and Adelaide Bank (ASX:BEN) up 0.1% to $10.83; Macquarie Group (ASX:MQG) up 1.7% to $81.95; Suncorp (ASX:SUN) up 1.4% to $12.87; Telstra (ASX:TLS) up 0.6% to $5.15.


Retailers

JB Hi-FI (ASX:JBH) up 0.9% to $29.24; Wesfarmers (ASX:WES) up 0.5% to $42.60; Woolworths (ASX:WOW) up 0.3% to $24.05.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 05 Sep 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165177/asx-all-ords-rockets-higher-holds-gains-to-the-close-70857.html
<![CDATA[News - TFS Corporation Ltd wins $50M sandalwood oil contract ]]> https://www.proactiveinvestors.co.uk/companies/news/165176/tfs-corporation-ltd-wins-50m-sandalwood-oil-contract-70841.html TFS Corporation Ltd (ASX:TFC) has signed a $50 million agreement to supply Indian sandalwood oil to US-based Young Living, an essential oil company with more than US$1 billion in sales in 2015.

TFS manages the largest area of commercial Indian sandalwood plantations in the world, with over 12,000 hectares owned directly by TFS, and indirectly managing over 3,600 hectares.

Under the five-year agreement with Young Living, TFS will supply premium Indian sandalwood oil at US$4,500 per kilogram, plus fixed annual increases of 2.5% per annum.

The first shipment of oil is expected in October 2016 with monthly supplies thereafter.

Since completing its first commercial harvest of Indian sandalwood plantations in 2014, TFS has signed multi-year contracts with a number of global companies across pharmaceutical, cosmetic and wood markets.

The vast majority of TFS’ harvests are forward sold through to 2021.

Last week, the company announced cash EBITDA of $62.2 million for the twelve months ended 30 June 2016, up 8.2% on FY15 and in line with guidance.

Cash revenue increased 16.1% to $175.5 million (FY15: $151.2 million), driven by an increases in plantation establishment fees, sandalwood product sales, and management fee income.

TFS has established a strong financial platform for further growth, with cash balance of $107 million as at 30 June 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 05 Sep 2016 11:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165176/tfs-corporation-ltd-wins-50m-sandalwood-oil-contract-70841.html
<![CDATA[News - Patties Foods Ltd granted halt pending court hearing ]]> https://www.proactiveinvestors.co.uk/companies/news/165175/patties-foods-ltd-granted-halt-pending-court-hearing-70810.html Patties Foods Ltd (ASX:PFL) has been granted a trading halt by the ASX this morning.

The halt was requested pending today's second court hearing in the Supreme Court of Victoria at which orders will be sought to approve the Scheme.

The halt will remain in place until the opening of trade on Tuesday 6th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 02 Sep 2016 08:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165175/patties-foods-ltd-granted-halt-pending-court-hearing-70810.html
<![CDATA[News - Wall Street flat as investors await jobs data ]]> https://www.proactiveinvestors.co.uk/companies/news/165174/wall-street-flat-as-investors-await-jobs-data-70807.html U.S. equities were flat on Thursday as investors await Friday’s publication of the non-farm payrolls data.

The Dow Jones edged 0.1% higher to 18,419. The S&P 500 was flat at 2171, while the NASDAQ added 0.3% to 5227.

Gold touched its lowest level since the UK voted to leave the European Union back in June as it just managed to keep its head above the US$1300 an ounce mark on Wednesday.

The precious metal did recover somewhat in the afternoon session to actually post a small gain, although it remains under pressure from renewed confidence that the Federal Reserve will raise interest rates before 2016 is out.

New York gold for December delivery settled up 0.4% at US$1317 an ounce.

In the first day of trade for the month, West Texas Intermediate crashed lower by 3.5% to US$43.16 a barrel.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 02 Sep 2016 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165174/wall-street-flat-as-investors-await-jobs-data-70807.html
<![CDATA[News - MCS Services Ltd in an ASX trading halt ]]> https://www.proactiveinvestors.co.uk/companies/news/165173/mcs-services-ltd-in-an-asx-trading-halt-70784.html MCS Services Ltd (ASX:MSG) has been granted a trading halt by the ASX this morning, with its shares placed in pre-open.

The company requested the halt pending details on a potential capital restructure and balance sheet optimisation.

The halt will remain in place until the opening of trade on Monday 5th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 01 Sep 2016 10:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165173/mcs-services-ltd-in-an-asx-trading-halt-70784.html
<![CDATA[News - Henry Morgan Ltd heads to market ]]> https://www.proactiveinvestors.co.uk/companies/news/165172/henry-morgan-ltd-heads-to-market-70779.html Henry Morgan Ltd (ASX:HML) has been granted a trading halt by the ASX this morning, pending details of a capital raising.

The halt will remain in place until the opening of trade on Monday 5th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 01 Sep 2016 08:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165172/henry-morgan-ltd-heads-to-market-70779.html
<![CDATA[News - Genetic Signatures Ltd to undertake book-build ]]> https://www.proactiveinvestors.co.uk/companies/news/165171/genetic-signatures-ltd-to-undertake-book-build-70744.html Genetic Signatures Ltd (ASX:GSS) is preparing to reveal details of a capital raising, which will be conducted as a book-build.

The ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 2nd September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 31 Aug 2016 06:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165171/genetic-signatures-ltd-to-undertake-book-build-70744.html
<![CDATA[News - Simonds Group Ltd looks to change control ]]> https://www.proactiveinvestors.co.uk/companies/news/165170/simonds-group-ltd-looks-to-change-control-70741.html Simonds Group Ltd (ASX:SIO) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Simonds requested the halt pending a potential change of control transaction.

The halt will remain in place until the opening of trade on Thursday 1st September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 31 Aug 2016 05:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165170/simonds-group-ltd-looks-to-change-control-70741.html
<![CDATA[News - Wall Street rally driven by bank stocks ]]> https://www.proactiveinvestors.co.uk/companies/news/165169/wall-street-rally-driven-by-bank-stocks-70699.html Wall Street closed higher on Monday, as bank stocks swelled on rising expectations of a Fed rate hike next month.

By the close the Dow Jones had gained 0.6% to 18,503. The S&P 500 gained 0.5% to 2180, while the NASDAQ added 0.3% to 5232.

Banking stocks benefited from re-pricing after last Friday the U.S. Federal Reserve put a September rate hike back on the table when vice chair Stanley Fischer elaborated following a speech by his boss Janet Yellen.

JP Morgan Chase (NYSE:JPM) shares closed up 1.1% at $66.95, Citigroup (NYSE:C) up 0.3% to $47.26 and Bank of America (NYSE:BAC) up 0.3% to $15.84.

However, the sector cooled its jets from midsession when it was more broadly outperforming the S&P 500.

Having faced the wrath of consumers and lawmakers, the company at the centre of a storm over its alleged inflationary pricing of a life-saving anti-allergy device is now offering a partial climbdown.

Netherlands-based Mylan (NASDAQ:MYL) said on Monday it would launch an EpiPen generic alternative at a 50% discount to the branded product's list price. Read more.

Mylan shares closed up 0.4% at $43.22 on Monday.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 30 Aug 2016 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165169/wall-street-rally-driven-by-bank-stocks-70699.html
<![CDATA[News - Wellard Ltd in an ASX trading halt ]]> https://www.proactiveinvestors.co.uk/companies/news/165168/wellard-ltd-in-an-asx-trading-halt-70723.html Wellard Ltd (ASX:WLD) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Wellard requested the halt pending the release of the company’s Appendix 4E Preliminary Final Report for the year ended 30 June 2016, and personnel changes.

The halt will remain in place until the opening of trade on Wednesday 31st August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 29 Aug 2016 15:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165168/wellard-ltd-in-an-asx-trading-halt-70723.html
<![CDATA[News - ASX All Ords drifts lower waiting for the U.S. Fed ]]> https://www.proactiveinvestors.co.uk/companies/news/165167/asx-all-ords-drifts-lower-waiting-for-the-us-fed-70701.html The Australian equity market drifted lower once again today, as investors sit on the fence awaiting details from the U.S. Federal Reserve’s Jackson Hole symposium in Wyoming.

Janet Yellen, chair, is due to deliver a much-anticipated speech which could indicate the mood for raising U.S. interest rates.

Back home, the ASX All Ordinaries was trading 0.3% lower at 5614 late in the session.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) down 0.5% to $20.92; Fortescue Metals Group (ASX:FMG) up 1.3% to $4.89; Newcrest (ASX:NCM) up 0.5% to $23.46; Rio Tinto (ASX:RIO) down 0.4% to $48.89.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 1.3% to $6.92; Santos (ASX:STO) up 1.1% to $4.49; Woodside Petroleum (ASX:WPL) down 0.7% to $29.65.


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.4% to $26.74; Commonwealth Bank (ASX:CBA) down 0.8% to $73.42; National Australia Bank (ASX:NAB) down 0.8% to $27.46; Westpac (ASX:WBC) down 0.7% to $30.14.


Other banks, financials and industrials

AMP (ASX:AMP) up 0.2% to $5.45; Bank of Queensland (ASX:BOQ) up 0.2% to $10.34; Bendigo and Adelaide Bank (ASX:BEN) up 0.4% to $10.75; Macquarie Group (ASX:MQG) down 1.5% to $79.65; Suncorp (ASX:SUN) down 0.3% to $12.76; Telstra (ASX:TLS) up 1.6% to $5.33.


Retailers

JB Hi-FI (ASX:JBH) up 1.0% to $30.40; Wesfarmers (ASX:WES) up 1.6% to $44.38; Woolworths (ASX:WOW) down 1.3% to $24.85.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 26 Aug 2016 15:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165167/asx-all-ords-drifts-lower-waiting-for-the-us-fed-70701.html
<![CDATA[News - Latin Resources Ltd among Thursday's ASX Most Traded with 63 million ]]> https://www.proactiveinvestors.co.uk/companies/news/165166/latin-resources-ltd-among-thursdays-asx-most-traded-with-63-million-70680.html Thursday's ASX Volume Leaders at the close.

CompanyCodeLastChangeVolume XPED Ltd
XPE $0.031 -27.91% 205,152,331 KBL Mining Ltd
KBL $0.003 -33.33% 69,133,253 Latin Resources Ltd
LRS $0.010 10% 63,919,952 Winmar Resources Ltd
WFE $0.004 33.33% 28,710,383 Greenland Minerals and Energy Ltd
GGG $0.047 4.55% 28,473,061 88 Energy Ltd
88E $0.049 4.26% 26,636,631 DigitalX Ltd
DCC $0.065 -12.16% 26,322,049 Telstra Corporation Ltd
TLS $5.260 -1.13% 23,245,917 South32 Ltd
S32 $2.010 -0.49% 20,816,521 Inca Minerals Ltd
ICG $0.004 25% 20,588,800


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Fri, 26 Aug 2016 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165166/latin-resources-ltd-among-thursdays-asx-most-traded-with-63-million-70680.html
<![CDATA[News - ASX All Ords heads lower as crucial U.S. Fed meeting nears ]]> https://www.proactiveinvestors.co.uk/companies/news/165165/asx-all-ords-heads-lower-as-crucial-us-fed-meeting-nears-70681.html The Australian equity market, like so many of its global counterparts, is playing a waiting game ahead of U.S. Federal Reserve meeting on Friday.

The meeting could outline when the U.S. will raise interest rates, and when more certainty is known here, it will instantly impact stocks, bonds and commodities, in different ways.

Back home, the Australian equity market limped to the finish line, with the ASX All Ords losing momentum late in the session to finish off 0.4% at 5631.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) down 2.0% to $21.00; Fortescue Metals Group (ASX:FMG) down 4.4% to $4.81; Newcrest (ASX:NCM) down 2.9% to $23.27; Rio Tinto (ASX:RIO) down 1.7% to $48.95.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 3.4% to $7.01; Santos (ASX:STO) down 2.2% to $4.44; Woodside Petroleum (ASX:WPL) up 1.5% to $29.89.


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.9% to $26.82; Commonwealth Bank (ASX:CBA) down 0.5% to $74.05; National Australia Bank (ASX:NAB) down 0.6% to $27.72; Westpac (ASX:WBC) down 1.3% to $30.36.


Other banks, financials and industrials

AMP (ASX:AMP) down 0.3% to $5.44; Bank of Queensland (ASX:BOQ) down 0.6% to $10.33; Bendigo and Adelaide Bank (ASX:BEN) down 1.4% to $10.70; Macquarie Group (ASX:MQG) up 0.0% to $80.57; Suncorp (ASX:SUN) down 0.1% to $12.82; Telstra (ASX:TLS) down 0.9% to $5.25.


Retailers

JB Hi-FI (ASX:JBH) down 0.1% to $30.14; Wesfarmers (ASX:WES) up 2.6% to $43.75; Woolworths (ASX:WOW) up 4.2% to $25.24.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 25 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165165/asx-all-ords-heads-lower-as-crucial-us-fed-meeting-nears-70681.html
<![CDATA[News - ASX All Ords tip toes higher ]]> https://www.proactiveinvestors.co.uk/companies/news/165164/asx-all-ords-tip-toes-higher-70653.html It was a quiet day on the Australian equity market on Wednesday, as investors around the world are waiting for the outcome from Friday’s meeting of U.S. central bankers at Jackson Hole, Wyoming.

This will most likely provide an update on the course of U.S. interest rates in the near-term.

Back home, the ASX All Ordinaries ticked up 0.1% to 5354, after trading in a narrow band all day.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) up 1.7% to $21.45; Fortescue Metals Group (ASX:FMG) up 2.8% to $5.04; Newcrest (ASX:NCM) up 0.0% to $23.97; Rio Tinto (ASX:RIO) up 1.5% to $49.81.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 1.9% to $7.24; Santos (ASX:STO) up 0.2% to $4.53; Woodside Petroleum (ASX:WPL) up 0.9% to $29.48.


Big 4 banks

ANZ Bank (ASX:ANZ) up 0.5% to $27.07; Commonwealth Bank (ASX:CBA) up 0.9% to $74.52; National Australia Bank (ASX:NAB) up 1.1% to $27.89; Westpac (ASX:WBC) up 1.1% to $30.76.


Other banks, financials and industrials

AMP (ASX:AMP) up 0.6% to $5.44; Bank of Queensland (ASX:BOQ) up 0.4% to $10.40; Bendigo and Adelaide Bank (ASX:BEN) up 0.9% to $10.85; Macquarie Group (ASX:MQG) up 0.4% to $80.51; Suncorp (ASX:SUN) down 0.4% to $12.83; Telstra (ASX:TLS) down 3.5% to $5.30.


Retailers

JB Hi-FI (ASX:JBH) up 0.8% to $30.13; Wesfarmers (ASX:WES) down 2.4% to $42.51; Woolworths (ASX:WOW) flat at $24.22.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 24 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165164/asx-all-ords-tip-toes-higher-70653.html
<![CDATA[News - Xenith IP Group to acquire intellectual property practice ]]> https://www.proactiveinvestors.co.uk/companies/news/165163/xenith-ip-group-to-acquire-intellectual-property-practice-70623.html Xenith IP Group Ltd (ASX:XIP) has entered into an agreement to acquire the intellectual property (IP) service provider Watermark Group, for a total consideration of $19.5 million.

Watermark is one of Australia’s longest established IP practices, employing more than 90 people nationally with offices in Melbourne, Perth and Sydney.

The acquisition is complementary to Xenith’s core business of providing a range of IP services, including registration, management, and enforcement of IP rights.

The purchase consideration of $19.5 million will comprise of $9.5 million in cash, and $10 million by way of placement of Xenith shares to the Watermark principals (escrowed for two years).

The acquisition is expected to diversify Xenith’s revenue streams, broaden its client base and enhance its geographical presence.

Significantly, the acquisition is anticipated to be EPS accretive in FY2017 on an underlying basis, with Watermark expected to contribute future maintainable EBITDA of about $2.5 million per annum.

Xenith has also successfully completed a placement to institutional and sophisticated investors, raising $6.9 million to partially fund the cash component of the purchase consideration.

The acquisition is expected to be completed in early October 2016.

Xenith is one of the top players in the Australian IP Services sector and is anticipating a pro forma EBITDA in the range of $8.8-$9.0 million for FY2016.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 24 Aug 2016 07:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165163/xenith-ip-group-to-acquire-intellectual-property-practice-70623.html
<![CDATA[News - ASX All Ords gets back in the hunt for 12-month high ]]> https://www.proactiveinvestors.co.uk/companies/news/165162/asx-all-ords-gets-back-in-the-hunt-for-12-month-high-70625.html The Australian equity market charged higher today, despite mixed leads from Wall Street overnight.

The ASX All Ordinaries is now within sight of a 12-month high.

Today the benchmark climbed 0.6% to 5647 and is less than 1% away from a new record for the period.


BLUE CHIP ROUND-UP

Major miners

BHP Billiton (ASX:BHP) up 0.5% to $21.05; Fortescue Metals Group (ASX:FMG) up 1.9% to $4.90; Newcrest (ASX:NCM) up 0.9% to $23.99; Rio Tinto (ASX:RIO) down 0.2% to $49.08.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 0.8% to $7.38; Santos (ASX:STO) down 0.4% to $4.50; Woodside Petroleum (ASX:WPL) down 0.6% to $29.14.


Big 4 banks

ANZ Bank (ASX:ANZ) up 1.1% to $26.92; Commonwealth Bank (ASX:CBA) up 0.9% to $73.76; National Australia Bank (ASX:NAB) up 1.0% to $27.55; Westpac (ASX:WBC) up 1.5% to $30.42.


Other banks, financials and industrials

AMP (ASX:AMP) down 0.1% to $5.39; Bank of Queensland (ASX:BOQ) up 1.1% to $10.36; Bendigo and Adelaide Bank (ASX:BEN) down 0.4% to $10.77; Macquarie Group (ASX:MQG) up 1.0% to $80.21; Suncorp (ASX:SUN) up 0.3% to $12.91; Telstra (ASX:TLS) up 0.6% to $5.48.


Retailers

JB Hi-FI (ASX:JBH) up 1.3% to $29.90; Wesfarmers (ASX:WES) up 0.8% to $43.60; Woolworths (ASX:WOW) up 0.1% to $24.13.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 23 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165162/asx-all-ords-gets-back-in-the-hunt-for-12-month-high-70625.html
<![CDATA[News - ASX All Ords runs out of puff but holds 5600 barrier ]]> https://www.proactiveinvestors.co.uk/companies/news/165161/asx-all-ords-runs-out-of-puff-but-holds-5600-barrier-70601.html The Australian equity market was ticking over quite nicely in morning trade, before a sell-off in the afternoon dragged the blue chip benchmarks into negative territory.

The ASX All Ordinaries ended the session down 0.2% at 5612.

Electronic gold at 4pm Sydney, Australia, time, last changed hands 0.7% lower at US$1332 an ounce.

With the foreign exchange rate of AUD / USD 0.759, this prices the yellow metal in the local money at A$1740 an ounce.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) down 1.8% to $20.91; Fortescue Metals Group (ASX:FMG) down 2.4% to $4.81; Newcrest (ASX:NCM) down 0.7% to $23.77; Rio Tinto (ASX:RIO) down 1.1% to $49.26.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 2.1% to $7.43; Santos (ASX:STO) down 6.8% to $4.52; Woodside Petroleum (ASX:WPL) up 1.4% to $29.31.


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.4% to $26.56; Commonwealth Bank (ASX:CBA) down 0.5% to $73.05; National Australia Bank (ASX:NAB) down 0.2% to $27.23; Westpac (ASX:WBC) down 0.3% to $29.92.


Other banks, financials and industrials

AMP (ASX:AMP) down 0.7% to $5.40; Bank of Queensland (ASX:BOQ) down 0.2% to $10.24; Bendigo and Adelaide Bank (ASX:BEN) up 1.3% to $10.79; Macquarie Group (ASX:MQG) up 0.3% to $79.38; Suncorp (ASX:SUN) up 0.6% to $12.88; Telstra (ASX:TLS) down 0.4% to $5.46.


Retailers

JB Hi-FI (ASX:JBH) up 1.8% to $29.48; Wesfarmers (ASX:WES) up 0.2% to $43.12; Woolworths (ASX:WOW) up 0.5% to $24.02.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 22 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165161/asx-all-ords-runs-out-of-puff-but-holds-5600-barrier-70601.html
<![CDATA[News - Waratah Resources Ltd to raise $672,000, switching to technology sector ]]> https://www.proactiveinvestors.co.uk/companies/news/165160/waratah-resources-ltd-to-raise-672000-switching-to-technology-sector-70580.html Waratah Resources Ltd (ASX:WGO) has received firm commitments to raise $568,000 via a private placement to sophisticated investors at $0.007 per share.

Additionally, the company will seek shareholder approval to raise $104,000 through the issue of shares to directors Sir Warwick Andrew and Neil Herbert at $0.007 each.

The funds will be applied toward general working capital and to continue progress Waratah’s planned change in activities from mining to technology.

The company had recently decided to acquire CSB Engage Pte Ltd, a global customer engagement, mobile and cloud technology solutions provider based in Singapore.

Waratah will acquire 100% of CSB by issuing shares in Waratah valued at $22 million at $0.20 per share.

CSB provides a diverse range of cloud based digital engagement technology solutions to global brands such as Aviva Insurance, Neutrogena and Nestle.

It has recently secured a number of global partnerships to further expand its technology footprint globally. New agreements are expected to be announced with Ogilvy, Saatchi & Saatchi, Global Red, Kounta, and Meza.

Waratah’s shares are currently suspended from the ASX and will remain suspended until it completes due diligence and obtains the requisite approvals, including from shareholders.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 22 Aug 2016 10:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165160/waratah-resources-ltd-to-raise-672000-switching-to-technology-sector-70580.html
<![CDATA[News - Apiam Animal Health Ltd to gain proprietary technology via acquisition ]]> https://www.proactiveinvestors.co.uk/companies/news/165159/apiam-animal-health-ltd-to-gain-proprietary-technology-via-acquisition-70557.html Apiam Animal Health Ltd (ASX:AHX) will acquire the Quirindi Veterinary Group (QVG) for $11.57 million to further strengthen Apiam’s production animal and rural veterinary services capabilities.

QVG is one of Australia’s largest rural veterinary groups, generating revenue of $12.2 million in FY16.

The acquisition is expected to be earnings accretive, and will be funded using Apiam’s existing bank facilities.

The consideration for the acquisition is a combination of 70% cash and 30% shares. Shares will be subject to escrow.

As part of the acquisition of QVG, Apiam will acquire proprietary technology to improve clinical efficiencies, data analysis systems for feedlot cattle and specialised assets for reproduction services.

Located in the Liverpool Plains in New South Wales, QVG provides veterinary services to large beef production systems throughout Australia through its business, Quirindi Feedlot Services.

It also provides equine (horse) reproduction services at its custom built centre near Scone in New South Wales, and runs a livestock and companion animal veterinary practice located in Quirindi.

This acquisition is in alignment with Apiam’s strategy to extend its position as a provider of expert veterinary, production, well-being and genetics services to the expanding production animal and mixed animal sectors.

This acquisition is Apiam’s first since its IPO in December 2015, and is part of the company’s ongoing program to invest in growth via synergistic acquisitions.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 19 Aug 2016 13:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165159/apiam-animal-health-ltd-to-gain-proprietary-technology-via-acquisition-70557.html
<![CDATA[News - Tegel Group Holdings Ltd gets market access to Australia for poultry ]]> https://www.proactiveinvestors.co.uk/companies/news/165158/tegel-group-holdings-ltd-gets-market-access-to-australia-for-poultry-70542.html Tegel Group Holdings Ltd (ASX:TGH) is set to benefit from an agreement allowing the export of raw poultry products from New Zealand to Australia.

Tegel is New Zealand’s leading poultry producer, processing 50 million birds per year.

Previously exports from New Zealand into Australia were limited to products that had been fully cooked.

The total poultry market in Australia is circa A$7.1 million.

In FY16, Tegel exported A$70 million of poultry to Australia, which represented a ~1% market share.

The wider market access will allow for significantly larger range of Tegel products to be exported into all segments of the Australian market.

Tegel will immediately apply for new import permits to take full advantage of the significantly increased business opportunities this change will present.

In FY16 Tegel recorded $582.4 million in revenue and a net profit after tax of $37.2 million.

Shares are up 4.5% over the past month, currently trading at $1.63.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 18 Aug 2016 16:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165158/tegel-group-holdings-ltd-gets-market-access-to-australia-for-poultry-70542.html
<![CDATA[News - Tegel Group Holdings Ltd in an ASX trading halt ]]> https://www.proactiveinvestors.co.uk/companies/news/165157/tegel-group-holdings-ltd-in-an-asx-trading-halt-70524.html Tegel Group Holdings Ltd (ASX:TGH) has this morning been granted a trading halt by the ASX, with its shares placed in pre-open.

Tegel requested the halt after The Ministry for Primary Industries in New Zealand announced an agreement that will allow the export of raw poultry products from New Zealand and Australia within an agreed access framework.

The halt will remain in place until the opening of trade on Monday 22nd August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 18 Aug 2016 09:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165157/tegel-group-holdings-ltd-in-an-asx-trading-halt-70524.html
<![CDATA[News - ASX All Ords trades in narrow band to end session flat ]]> https://www.proactiveinvestors.co.uk/companies/news/165156/asx-all-ords-trades-in-narrow-band-to-end-session-flat-70511.html The Australian equity market traded in a narrow 30 point band today, with the All Ordinaries Index finishing the session where it started at 5631.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) up 3.2% to $20.89; Fortescue Metals Group (ASX:FMG) up 0.8% to $4.55; Newcrest (ASX:NCM) down 5.5% to $23.30; Rio Tinto (ASX:RIO) up 1.9% to $49.40.


Energy or Oil and Gas

Oil Search (ASX:OSH) up 2.4% to $7.55; Santos (ASX:STO) up 0.6% to $4.93; Woodside Petroleum (ASX:WPL) up 2.1% to $28.24.


Big 4 banks

ANZ Bank (ASX:ANZ) up 0.7% to $26.76; Commonwealth Bank (ASX:CBA) down 2.4% to $74.14; National Australia Bank (ASX:NAB) up 1.5% to $27.46; Westpac (ASX:WBC) up 1.6% to $30.20.


Other banks, financials and industrials

AMP (ASX:AMP) down 0.4% to $5.78; Bank of Queensland (ASX:BOQ) up 0.9% to $10.54; Bendigo and Adelaide Bank (ASX:BEN) up 0.7% to $10.58; Macquarie Group (ASX:MQG) up 0.8% to $78.45; Suncorp (ASX:SUN) up 0.4% to $13.14; Telstra (ASX:TLS) up 0.4% to $5.45.


Retailers

JB Hi-FI (ASX:JBH) up 1.9% to $29.56; Wesfarmers (ASX:WES) up 1.5% to $43.29; Woolworths (ASX:WOW) up 1.0% to $23.61.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 17 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165156/asx-all-ords-trades-in-narrow-band-to-end-session-flat-70511.html
<![CDATA[News - ASX All Ords drifts lower by session end ]]> https://www.proactiveinvestors.co.uk/companies/news/165155/asx-all-ords-drifts-lower-by-session-end-70487.html Wall Street may have had a trifecta of new all-time-highs across its indexes overnight, but the positive mood didn't rub off in Australia.

The ASX All Ordinaries did open the session higher, but drifted throughout the trading day to end 0.1% lower at 5626.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) up 0.6% to $20.28; Fortescue Metals Group (ASX:FMG) up 1.7% to $4.51; Newcrest (ASX:NCM) up 0.6% to $24.67; Rio Tinto (ASX:RIO) up 1.1% to $48.59.


Energy or Oil and Gas

Oil Search (ASX:OSH) up 0.2% to $7.38; Santos (ASX:STO) up 2.4% to $4.89; Woodside Petroleum (ASX:WPL) up 1.0% to $27.66.


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.2% to $26.56; Commonwealth Bank (ASX:CBA) down 0.3% to $76.08; National Australia Bank (ASX:NAB) down 0.7% to $27.02; Westpac (ASX:WBC) down 0.1% to $29.74.


Other banks, financials and industrials

AMP (ASX:AMP) down 0.2% to $5.80; Bank of Queensland (ASX:BOQ) down 1.3% to $10.44; Bendigo and Adelaide Bank (ASX:BEN) down 0.4% to $10.50; Macquarie Group (ASX:MQG) down 0.5% to $77.76; Suncorp (ASX:SUN) down 0.9% to $13.09; Telstra (ASX:TLS) down 1.0% to $5.43.


Retailers

JB Hi-FI (ASX:JBH) down 3.7% to $28.98; Wesfarmers (ASX:WES) down 0.0% to $42.59; Woolworths (ASX:WOW) 0.4% to $23.39.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 16 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165155/asx-all-ords-drifts-lower-by-session-end-70487.html
<![CDATA[News - Search Party Group Ltd doubles revenue from online recruitment ]]> https://www.proactiveinvestors.co.uk/companies/news/165154/search-party-group-ltd-doubles-revenue-from-online-recruitment--70471.html Online recruiter Search Party Group Ltd (ASX:SP1) has doubled in size across key metrics since the beginning of 2016 with more than $1 million in total recruitment fees billed in FY2016.

Search Party’s shares are expected to be soon relisted on the ASX following the completion of a reverse takeover deal with Applabs Technologies.

The company uses matching algorithms to help businesses find employees. Employers can browse and interview candidates for free and pay the fee to recruiters once they fill the role.

Search Party is seeing 40-50% compounding quarterly growth in key metrics since Q4 2014 and currently has a client base of 5,943 employers signed up from 4,741 companies.

Gross recruitment fees processed during the June 2016 quarter were $315,000, up 46% on the previous quarter.

Search Party has completed a capital raising of $9.6 million to be invested in the company as part of the reverse takeover. No funds have been used to repay or buy out existing shareholders.

Interestingly, recruitment is a very large industry globally (more than US$300 billion per year in revenue) which transacts very little online (about 3%).

Search Party’s business model is uniquely positioned to support the evolution of this industry, bringing employers, recruiters and employees to an online marketplace.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 16 Aug 2016 15:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165154/search-party-group-ltd-doubles-revenue-from-online-recruitment--70471.html
<![CDATA[News - ASX All Ords back in the hunt for 12-month high ]]> https://www.proactiveinvestors.co.uk/companies/news/165153/asx-all-ords-back-in-the-hunt-for-12-month-high-70450.html The Australian equity market managed to end the session slightly higher, with the ASX All Ordinaries climbing 0.1% to 5634.

The benchmark index is once again in sight of an elusive 12-month high, and is less than 1% off the pace.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) down 2.6% to $20.14; Fortescue Metals Group (ASX:FMG) down 3.4% to $4.43; Newcrest (ASX:NCM) down 4.1% to $24.49; Rio Tinto (ASX:RIO) down 3.4% to $48.06.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 0.1% to $7.37; Santos (ASX:STO) up 1.0% to $4.78; Woodside Petroleum (ASX:WPL) down 0.4% to $27.38.


Big 4 banks

ANZ Bank (ASX:ANZ) up 0.2% to $26.62; Commonwealth Bank (ASX:CBA) up 0.4% to $76.32; National Australia Bank (ASX:NAB) up 1.0% to $27.23; Westpac (ASX:WBC) up 0.4% to $29.75.


Other banks, financials and industrials

AMP (ASX:AMP) up 1.2% to $5.83; Bank of Queensland (ASX:BOQ) up 0.3% to $10.58; Bendigo and Adelaide Bank (ASX:BEN) up 0.5% to $10.54; Macquarie Group (ASX:MQG) up 0.9% to $78.27; Suncorp (ASX:SUN) up 0.6% to $13.23; Telstra (ASX:TLS) up 0.9% to $5.50.


Retailers

JB Hi-FI (ASX:JBH) up 10.1% to $30.14; Wesfarmers (ASX:WES) up 0.2% to $42.66; Woolworths (ASX:WOW) up 0.7% to $23.56.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 15 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165153/asx-all-ords-back-in-the-hunt-for-12-month-high-70450.html
<![CDATA[News - Lycopodium Ltd shares gain on major project contract win in Ivory Coast ]]> https://www.proactiveinvestors.co.uk/companies/news/165152/lycopodium-ltd-shares-gain-on-major-project-contract-win-in-ivory-coast-70443.html Lycopodium Ltd’s (ASX:LYL) shares have surged 6% to $2.60 after being awarded an engineering, procurement and construction (EPC) contract for the Sissingué Gold Project in Ivory Coast by Perseus Mining Ltd.

The contract revenue is estimated to be $38.4 million with the full amount expected to be reported in FY2017.

The total cost for Perseus to complete the construction of the Sissingué Gold Project is forecast to be US$100 million.

The new contract is a continuation of Lycopodium’s association with Perseus, following the successful completion of the definitive feasibility study and front end engineering and design for the project.

Earlier this month, Lycopodium won a $68.5 million contract for the delivery of a gold processing plant and other facilities in Senegal for a UK-based private company, Toro Gold.

The company has forecast an after-tax operating profit of at least $3 million on a revenue of $126 million for the full 2015-2016 financial year.

That compared with last year’s $1.02 million loss on revenue of $122.8 million.

Lycopodium’s share price has more than doubled during the last 6 months.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 15 Aug 2016 15:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165152/lycopodium-ltd-shares-gain-on-major-project-contract-win-in-ivory-coast-70443.html
<![CDATA[News - Arowana International Ltd to propel solar power subsidiary onto NASDAQ ]]> https://www.proactiveinvestors.co.uk/companies/news/165151/arowana-international-ltd-to-propel-solar-power-subsidiary-onto-nasdaq-70419.html Arowana International Ltd’s (ASX:AWN) wholly owned global solar power subsidiary VivoPower International is entering into a business combination with Arowana Inc (NASDAQ:ARWA).

Arowana Inc is a Special Purpose Acquisition Company that was listed on the NASDAQ in May 2015 and holds US$84 million in cash.

If implemented, the business combination will result in VivoPower being listed on the NASDAQ, with Arowana International retaining a non-controlling interest in VivoPower.

Arowana International and its controlled entities are expected to own between 30% and 46% of VivoPower shares following the business combination.

The enterprise value of the transaction is US$162 million based on an implied share price of US$10.20.

VivoPower is in the business of aggregating small and medium sized solar photovoltaic (PV) projects underpinned by long term power purchase agreements.

The company arranges corporate and project financing, engineering design, equipment procurement and manages the build of such solar PV projects for asset owners.

Arowana International initially established VivoPower in 2014 as a solar power company focussed on Australia and Asia.

However, during 2015 and 2016 it expanded its focus globally to encompass the United States, United Kingdom and other OECD nations.

The business combination is expected to support the company’s growth opportunities across the world in solar PV project management.

Solar PV costs have dropped by a factor of 154x since the 1970s, while oil, coal, natural gas and nuclear have increased 35x, 6x, 15x and 10x respectively.

However, solar represents just 1% of global energy production, providing a great opportunity for growth.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 15 Aug 2016 08:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165151/arowana-international-ltd-to-propel-solar-power-subsidiary-onto-nasdaq-70419.html
<![CDATA[News - Dow Jones eases back after record run ]]> https://www.proactiveinvestors.co.uk/companies/news/165150/dow-jones-eases-back-after-record-run-70421.html U.S. stocks retreated from historic highs on Friday after disappointing retail sales data wobbled its confidence.

The July tally saw retail sales unchanged. Economists had expected a 0.4% increase.

By the close the Dow Jones had eased 0.2% to 18,576. The S&P 500 lost 0.1% to 2184, while the NASDAQ bucked the trend and climbed 0.1% to 5233.


Across the ditch

London’s blue-chip and mid-cap indices marked a fresh 14-month high on Friday.

Stocks also gained from higher oil prices. Brent crude was up 4.2% to US$45.89 a barrel.

The FTSE 100 closed 0.2% firmer at 6,916, its highest since late May 2015 - having earlier scaled an intraday high of 6,931.

That was just 150 points off the all-time high of 7,089 reached in early 2014 by Britain’s blue-chip ticker.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Sat, 13 Aug 2016 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165150/dow-jones-eases-back-after-record-run-70421.html
<![CDATA[News - ASX All Ords edges higher late in the session ]]> https://www.proactiveinvestors.co.uk/companies/news/165149/asx-all-ords-edges-higher-late-in-the-session-70418.html The Australian equity market is keeping its nose in front today, just, with support coming from the new records reached on Wall Street overnight.

The Dow Jones, S&P 500 and NASDAQ all closed at a new record high, which is the first time this winning trifecta has happened since 1999.

At 3pm, the ASX All Ordinaries is 0.1% higher at 5605.


BLUE CHIP ROUND-UP, at 3pm

Major miners
 
BHP Billiton (ASX:BHP) up 2.1% to $20.67; Fortescue Metals Group (ASX:FMG) up 1.8% to $4.60; Newcrest (ASX:NCM) up 1.3% to $25.48; Rio Tinto (ASX:RIO) up 0.4% to $49.90.


Energy or Oil and Gas

Oil Search (ASX:OSH) up 0.7% to $7.39; Santos (ASX:STO) up 3.5% to $4.71; Woodside Petroleum (ASX:WPL) up 0.4% to $27.36.


Big 4 banks

ANZ Bank (ASX:ANZ) down 0.6% to $26.33; Commonwealth Bank (ASX:CBA) down 0.7% to $75.52; National Australia Bank (ASX:NAB) up 1.1% to $26.84; Westpac (ASX:WBC) down 1.9% to $29.46.


Other banks, financials and industrials

AMP (ASX:AMP) up 1.9% to $5.76; Bank of Queensland (ASX:BOQ) up 0.1% to $10.53; Bendigo and Adelaide Bank (ASX:BEN) down 0.2% to $10.48; Macquarie Group (ASX:MQG) up 0.5% to $77.57; Suncorp (ASX:SUN) down 4.2% to $13.12; Telstra (ASX:TLS) down 1.6% to $5.42.


Retailers

JB Hi-FI (ASX:JBH) up 1.8% to $27.48; Wesfarmers (ASX:WES) down 0.0% to $42.45; Woolworths (ASX:WOW) up 0.8% to $23.28.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 12 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165149/asx-all-ords-edges-higher-late-in-the-session-70418.html
<![CDATA[News - ASX All Ords loses steam; But this Fraser Range explorer soared ]]> https://www.proactiveinvestors.co.uk/companies/news/165148/asx-all-ords-loses-steam-but-this-fraser-range-explorer-soared-70392.html The Australian equity market was softer for a second day in a row, with generally weaker overnight leads.

The ASX All Ordinaries fell 0.6% to 5596.

But lets get to some MARKET ACTION ....


.... MARKET ACTION

Legend Mining Ltd (ASX:LEG) has responded to an ASX Price and Volume Query following the company's shares jumping 62.5% to $0.013, compared to the closing price on the 5th August 2016.

Legend replied that it is not aware of any reason for the share price movement.

Earlier in the week the company provided an update on its financial position, which includes $8.5 million in cash, $0.6 million in liquids and a $3 million receivable.

The company is focused on exploration at its Rockford Project in the Fraser Range of Western Australia, and recently encountered several similarities to a Nova-Bollinger style system from diamond drilling.

Assays are currently pending from a two hole drilling program.

Rockford covers 2,939 square kilometres and comprises eight contiguous granted exploration licences, with a large portion of the project subject of a joint venture between Legend (70%) and the Creasy Group (30%).

Legend is the operator and manager of the joint venture.


BLUE CHIP ROUND-UP

Major miners
 
BHP Billiton (ASX:BHP) down 1.3% to $20.18; Fortescue Metals Group (ASX:FMG) down 1.2% to $4.52; Newcrest (ASX:NCM) down 1.7% to $25.02; Rio Tinto (ASX:RIO) down 1.9% to $49.60.


Energy or Oil and Gas

Oil Search (ASX:OSH) down 1.1% to $7.31; Santos (ASX:STO) down 2.4% to $4.56; Woodside Petroleum (ASX:WPL) down 1.4% to $27.18.


Big 4 banks

ANZ Bank (ASX:ANZ) down 1.3% to $26.41; Commonwealth Bank (ASX:CBA) down 2.0% to $75.81; National Australia Bank (ASX:NAB) down 1.1% to $26.52; Westpac (ASX:WBC) down 2.7% to $29.97.


Other banks, financials and industrials

AMP (ASX:AMP) down 3.9% to $5.64; Bank of Queensland (ASX:BOQ) down 1.9% to $10.50; Bendigo and Adelaide Bank (ASX:BEN) down 0.8% to $10.48; Macquarie Group (ASX:MQG) down 1.4% to $77.02; Suncorp (ASX:SUN) down 0.4% to $13.68; Telstra (ASX:TLS) down 1.0% to $5.54.


Retailers

JB Hi-FI (ASX:JBH) up 2.1% to $27.00; Wesfarmers (ASX:WES) up 0.3% to $42.41; Woolworths (ASX:WOW) flat at $23.10.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 11 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165148/asx-all-ords-loses-steam-but-this-fraser-range-explorer-soared-70392.html
<![CDATA[News - BlackWall Ltd to launch first workspace project outside Australia ]]> https://www.proactiveinvestors.co.uk/companies/news/165147/blackwall-ltd-to-launch-first-workspace-project-outside-australia-70382.html BlackWall Ltd (ASX:BWF) will launch its first international space at The Quadrant building near Raffles Plaza in Singapore, via co-working subsidiary WOTSO WorkSpace.

The 950 square metres space is located in one of downtown Singapore’s few remaining original buildings located at 19, Cecil Place in Singapore’s financial district.

WOTSO has over 15,000 square metres of co-working space already in operation and development in Australia, providing long and short-term working environments on a flexible basis.

The company has grown to 10 sites in Australia over the last 24 months, with four in New South Wales, three in Queensland, two in Canberra and one in Adelaide.

WOTSO’s Singapore project will be a joint venture with a local company, Springboard.

Flexible office arrangements are second nature to freelancers and startups, but is now growing amongst other office users from tradesmen to lawyers and consultants.

WOTSO Singapore will launch in the next month, with the company now looking at opportunities for additional spaces in the city and other sites across Southeast Asia.

In June, BlackWall Property Funds Ltd changed its name to BlackWall Ltd to reflect the company’s growth and diversification beyond standard property and funds management activities.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 11 Aug 2016 14:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165147/blackwall-ltd-to-launch-first-workspace-project-outside-australia-70382.html
<![CDATA[News - Wingara AG Ltd in an ASX trading halt ]]> https://www.proactiveinvestors.co.uk/companies/news/165146/wingara-ag-ltd-in-an-asx-trading-halt-70370.html Wingara AG Ltd (ASX:WNR) has been granted a trading halt by the ASX, as the company is currently evaluating funding facilities.

The halt will remain in place until the opening of trade on Monday 15th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 11 Aug 2016 10:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165146/wingara-ag-ltd-in-an-asx-trading-halt-70370.html
<![CDATA[News - London equities mark fifth successive session of gains ]]> https://www.proactiveinvestors.co.uk/companies/news/165145/london-equities-mark-fifth-successive-session-of-gains-70368.html London’s blue-chip ticker ended Wednesday higher for a fifth successive session after financial stocks put weaker energy stocks in their place.

The FTSE 100 index closed up 0.2% at 6866 – a fresh 14-month high.

The UK insurance sector was the powerhouse for the bourse, with Prudential (LON:PRU) closing up 2.3% at 1,424.30p after reporting operating profits rose by a larger-than-expected 9% to £2.06bn boosted by rapid growth in Asia. It said it was well placed to deliver both growth and cash.

But the buoyant interim earnings were tarnished by the company’s suggestion it is mulling moving its funds from London to either Dublin or Luxembourg, according to a Reuters report. The move would be part of the insurer’s efforts to maintain access to the European Union's single market after Britain's vote to leave the trading bloc.

But wherever the Pru manages its funds from, it is evident that the insurer’s business growth is now focused on Asia.

Other insurers were lifted too, such as Legal & General (LON:LGEN) up 3.2% to 212.54p, and Admiral (LON:ADM) up 0.2% to 2,246.41p.

But the oil sector nursed losses after Brent Crude dropped by 1.7% to $44.20 after an unseasonal growth in crude stockpiles offset the second-biggest weekly draw in US gasoline this summer.

 

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Thu, 11 Aug 2016 08:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165145/london-equities-mark-fifth-successive-session-of-gains-70368.html