Viewpoint: Bullish
PDN +8.13%: released its June quarterly activities report today, a quarter which saw the decision to return the Langer Heinrich Mine to production in 1Q24. PDN is in a strong financial position with net cash US$177m meaning it is fully funded for a Langer Heinrich restart (capital requirement US$118m) and should be in a position to pay dividends in CY25. The Uranium market has more…
Smaller (and slightly different) cousin to Woolworths (WOW) and Coles (COL) MTS delivered solid FY22 earnings in recent weeks that were significantly ahead of expectations plus sales growth of +8.6% to start 1H23 was encouraging for investors moving forward. We like the way MTS is moving operationally while its projected ~6% yield over the next 12 months…
US stocks were dragged higher by the Energy Sector overnight with the S&P500 finally closing up just +0.15% as the tech stocks slipped lower ahead of company reports and the FOMC on Wednesday i.e. anything too hawkish could see the recent bounce by the growth stocks abandoned in a flash.
OZL -3.74%: The predominantly Copper producer released quarterly production numbers today with production down, costs up and they also lowered their guidance – the negative trifecta. Q2 copper production was 27,423 tonnes vs quarter-ago 30,322 tonnes; Gold production 51,184oz vs quarter-ago 48,773oz; All-in Sustaining Costs $2.10/lb vs quarter-ago $1.75/lb. For the 12 months, they are guiding…
US indices slipped lower into the weekend following disappointing results from social media firms plus poor economic data reignited recession fears. Heavyweights Meta Platforms (META US) -7.6% and Alphabet Inc (GOOGL US) -5.6% weighed heavily on the market after Snap and Twitter Inc both missed revenue expectations when they both reported – Snap (SNAP US) shareholders…
The ASX200 looks set to open down around 10-points this morning assuming it can follow the SPI Futures on Saturday morning and largely shrug off the weakness on Wall Street on Friday night, if we are correct last week’s breakout to the upside should follow through a touch further towards the 6850-6900 area in the coming few weeks:
US stocks were again dragged higher by the Tech Sector overnight this time following Teslas result, the beat helped founder Elon Musk’s business rally almost 10%. Overall it was another choppy session for stocks which saw early weakness following the greater-than-expected rate hike by the ECB reigniting concerns around the overall health of the European region, this sentiment…
STA +8.11%: another positive update from Strandline as they approach first production at their Coburn mineral sands project. The company announced the Wet Concentration Plant (WCP) build is coming along rapidly, raising hopes of production kick-starting this quarter. The project is now 85% built and on budget with Strandline looking to take advantage…
WDS -4.39%: Was sold down today following their quarterly update and weakness in energy prices overnight – with the blame for the drop split about 50/50. 2Q22 production was fine and they provided guidance for the combined entity for the first time (BHP-P and WPL). This is where some confusion seems to have set in. Anecdotally, it seemed that the market was interpreting…
