20/05/2025 09:51

Active Growth Portfolio – Amendments

We are making several changes to the Growth Portfolio this morning.

Read more

20/03/2025 09:51

Iluka Resources Ltd (ILU) $4.24

This rare earths/mineral sands business has struggled in line with the Chinese property market; we’re glad we didn't go long until late 2024. Any recovery in China's embattled property market feels more like an oil tanker in terms of how quickly it may recover, especially compared to the EV story.

Read more

18/03/2025 09:11

Iluka Resources Ltd (ILU) $4.22

Iluka (ILU) rallied +3.2% on Monday, with the rare earth/mineral sands business enjoying returning optimism towards China. ILU remains a leveraged demand story, primarily around China's beleaguered property market.

Read more

04/03/2025 09:15

Iluka Resources Ltd (ILU) $4.31

ILU rallied +3.9% on Monday, an infrequent day in the winner's enclosure for this rare earth/mineral sands business. We have discussed ILU several times over the last six months, but while it is operating well, this remains a demand story, particularly from China. ILU should recover strongly if/when things turn for China's ceramic industry, i.e., the property market.

Read more

19/02/2025 17:13

Iluka (ILU) $4.56

ILU –2.56%: Released FY24 results today (December year-end) with their financial metrics coming in slightly ahead of expectations, though it’s the demand outlook that really matters here, and there was nothing new on that front;  

Read more

11/02/2025 09:30

Iluka Resources (ILU) $4.65

ILU became a frustrating “recovery play” for MM after disappointing updates around its Eneabba rare earth project and ongoing challenging conditions for Mineral Sands as the Chinese economy struggled through 2024.

Read more

22/01/2025 16:47

Iluka Resources (ILU) $4.95

ILU –6.95%; Challenging conditions remained in Q4 for ILU with Mineral Sands below expectations despite seeing some sales growth (25%) relative to Q3.

Read more

19/12/2024 09:31

Iluka Resources Ltd (ILU) $5.09

Over 30% of ILU’s revenue came from China in 2023, and any semblance of recovery by the China property market will significantly improve its traditional minerals sands operations, which have been under pressure in recent years - ILU is a leading producer of zircon, primarily used in ceramic floor and wall tiles and high-grade titanium dioxide feedstocks (rutile and synthetic rutile) used in paints, hence the obvious correlation to China’s weak property market.

Read more

06/12/2024 16:53

Iluka Resources (ILU) $4.93

ILU -10.04%: Fell today after updating the market on its Eneabba rare earths project which included: An additional $400m debt contribution from the government via the Critical Mineral Facility Loan, taking the loan to $1.65b with ILU to contribute an additional $214m cash, bringing its total equity contribution to $414m.

Read more

12/11/2024 09:29

Iluka Resources Ltd (ILU) $5.37

We bought ILU at the end of October as a highly leveraged play on Chinese property, making it high-risk in nature, and it hasn’t disappointed on that front! However, we have targeted a move below $6 for some time, and at this stage if we held no position into yesterdays selling we would have pressed the “Buy Button”.

Read more