BHP Group Ltd (BHP):
Mining giant BHP has recruited Melbourne-based tech firm Southern Innovation to help it identify the quality of iron ore in real time, with trials of a new device set to begin this year. Traditionally during exploration, mining companies use drill rigs to determine how far down to mine for materials such as iron ore - a process that can take as long as six weeks. The core technology at the heart of all our instruments is this underlying ability to dramatically improve the performance of radiation detectors. The relationship between BHP and Southern Innovation began in late 2015. BHP has provided most of the funding for the development and is in discussion about initial purchase volumes, with the idea that the technology could be operating across its drill fleet in the next few years.
Clearview Wealth Ltd (CVW):
ClearView Wealth non-executive director David Brown has had a criminal fraud charge against him dropped by a court in Papua New Guinea. In an ASX statement today, ClearView (CVW) said the charge by the PNG National Fraud & Anti-Corruption Directorate “was dismissed” by the Waigani District Court. Mr Brown was arrested last year and charged with one count of conspiracy to defraud by the National Fraud & Anti-Corruption Directorate. He is the chief investment officer of the National Superannuation Fund in PNG. Both NASFUND and life insurer and wealth group ClearView came out in defence of Mr Brown last year.
Gascoyne Resources Ltd (GCY):
Embattled gold producer Gascoyne Resources has quietly appointed Macquarie as adviser amid increased scrutiny of the company from would-be suitors. It is understood that Macquarie recently won the defence mandate given concerns the company could be snapped up below its true value following recent issues at its flagship Dalgaranga goldmine and instability on its board. Gascoyne is among a wide field of developers and producers seen as potential merger targets for cashed-up producers enjoying recordhigh Australian dollar gold prices. Shares in the company have gone backwards over the past year, falling from a high of 60.5c in May to as low as 8.2c a share in November. It has since recovered to 15.5c at the close of trade on Friday, giving it a market capitalisation of just under $80 million.
Nuheara Ltd (NUH):
Smart earbud maker Nuheara hopes a shift in its sales strategy will pays off this year, with the company moving from selling its products in big-name electronics retailers to focusing on optical shops. In November, IQbuds – the company’s product - became the first "prescribed hearable" device to win a government contract when it was selected by Britain's National Health Service for treating adults and children with mild-to-moderate hearing loss. The two-year contract with the British government (with a provision for a twoyear extension) is expected to generate tens of millions of dollars in revenue which begins in April The British government has forecast spending £34.5 million ($61.5 million) in the first year and £138 million over two years on devices aimed at helping in the early stages of hearing loss. In the last financial year, the company generated $5.3 million in revenue, up 80 per cent on the previous corresponding period, and a net loss of $7.4 million.
Orcoda Ltd (ODA):
Logistics software provider Orcoda has decided to further test the Chinese legal system by appealing against a court decision last week rejecting its claim for $4 million from the nation’s largest mobile carrier, China ¬Mobile. The Melbourne-based company, previously known as SmartTrans, launched an action in a court in Nanjing last year over a debt it claimed it was owed by China Mobile as a result of an SMS payment and messaging business it operated in China some years ago. After a series of hearings last year, the company learned last week that the Nanjing District Court had rejected its claim, ruling in favour of China Mobile. The company has until this Thursday to lodge notification of an appeal. Orcoda closed at 18.5c on Friday, down 0.5c.
Retail Food Group Limited (RFG):
Retail Food Group has confirmed it is considering selling assets to pay down debt, but says the $100 million price tag media reports have slapped on its Crust Pizza empire is too high. A media outlet reported on Monday that PAG Asia Capital was believed to be in pole position to buy Crust Pizzas from Retail Food Group (RFG) at auction. Shares in Retail Food Group spiked by more than 20 per cent before the company announced a temporary pause in trading to address the speculation. At 12.52am (AEDT) the company was trading 13.56 per cent higher at 33.5 cents.
Wesfarmers Ltd (WES):
Wesfarmers is expecting to post earnings before interest and tax of between $385 million and $400 million when it reports its half year results on 21 February. The company is expected to gain $2.1 billion to $2.3 billion from the November demerger of is Coles supermarket division, and $670 million to $680 million from the sales of its stake in the Bengalla coal mine. Wesfarmers says comparable store sales in its Targets stores have risen 0.5 per cent on the previous corresponding period. This was offset by Kmart, which posted a comparable store sales decline of 0.6 per cent, excluding the gain on sale of the Kmart auto unit.
Westpac Banking Corp (WBC), AMP Limited (AMP), IOOF Holdings Limited (IFL):
Big banks and financial services firms face a litigious 12 months as last year's Hayne royal commission hearings embolden regulators, consumers and shareholders to take them to court. Westpac will defend its home-lending practices against the corporate regulator in a two-week hearing and AMP will defend a civil penalty case for its alleged involvement in the insurance rewriting scandal. AMP will continue to fight a shareholder class action once the NSW Supreme Court picks which law firm gets to run the case, while several law firms are investigating a potential class action against IOOF. New commissioner Sean Hughes said ‘why not litigate’ would be the new mantra at the regulator. However, expert Helen Bird questioned whether ASIC could bring significantly more court cases against major banks without additional government funding.
Woolworths Group Ltd (WOW):
Morgan Stanley analysts have declared Woolworths the winner of the Christmas trading period, outtrading Coles for the third year in a row. They estimated that Woolworths (WOW) grew like-for-like sales by 3 per cent while Coles’ likefor-like sales grew by 2 per cent. Supermarket trade overall improved in December compared with prior months by food inflation and healthy instock positions. Morgan Stanley called current supermarket trading conditions “benign”, saying that competition has progressively reduced over the past two years. They predicted Coles would post a first-half earnings before interest and tax food margin of 4.02 per cent, down 3 basis points year-on-year, while Woolworths would book an earnings margin of 4.74 per cent, up 7 basis points compared to last year.
(Source: AIMS)
Mining giant BHP has recruited Melbourne-based tech firm Southern Innovation to help it identify the quality of iron ore in real time, with trials of a new device set to begin this year. Traditionally during exploration, mining companies use drill rigs to determine how far down to mine for materials such as iron ore - a process that can take as long as six weeks. The core technology at the heart of all our instruments is this underlying ability to dramatically improve the performance of radiation detectors. The relationship between BHP and Southern Innovation began in late 2015. BHP has provided most of the funding for the development and is in discussion about initial purchase volumes, with the idea that the technology could be operating across its drill fleet in the next few years.
Clearview Wealth Ltd (CVW):
ClearView Wealth non-executive director David Brown has had a criminal fraud charge against him dropped by a court in Papua New Guinea. In an ASX statement today, ClearView (CVW) said the charge by the PNG National Fraud & Anti-Corruption Directorate “was dismissed” by the Waigani District Court. Mr Brown was arrested last year and charged with one count of conspiracy to defraud by the National Fraud & Anti-Corruption Directorate. He is the chief investment officer of the National Superannuation Fund in PNG. Both NASFUND and life insurer and wealth group ClearView came out in defence of Mr Brown last year.
Gascoyne Resources Ltd (GCY):
Embattled gold producer Gascoyne Resources has quietly appointed Macquarie as adviser amid increased scrutiny of the company from would-be suitors. It is understood that Macquarie recently won the defence mandate given concerns the company could be snapped up below its true value following recent issues at its flagship Dalgaranga goldmine and instability on its board. Gascoyne is among a wide field of developers and producers seen as potential merger targets for cashed-up producers enjoying recordhigh Australian dollar gold prices. Shares in the company have gone backwards over the past year, falling from a high of 60.5c in May to as low as 8.2c a share in November. It has since recovered to 15.5c at the close of trade on Friday, giving it a market capitalisation of just under $80 million.
Nuheara Ltd (NUH):
Smart earbud maker Nuheara hopes a shift in its sales strategy will pays off this year, with the company moving from selling its products in big-name electronics retailers to focusing on optical shops. In November, IQbuds – the company’s product - became the first "prescribed hearable" device to win a government contract when it was selected by Britain's National Health Service for treating adults and children with mild-to-moderate hearing loss. The two-year contract with the British government (with a provision for a twoyear extension) is expected to generate tens of millions of dollars in revenue which begins in April The British government has forecast spending £34.5 million ($61.5 million) in the first year and £138 million over two years on devices aimed at helping in the early stages of hearing loss. In the last financial year, the company generated $5.3 million in revenue, up 80 per cent on the previous corresponding period, and a net loss of $7.4 million.
Orcoda Ltd (ODA):
Logistics software provider Orcoda has decided to further test the Chinese legal system by appealing against a court decision last week rejecting its claim for $4 million from the nation’s largest mobile carrier, China ¬Mobile. The Melbourne-based company, previously known as SmartTrans, launched an action in a court in Nanjing last year over a debt it claimed it was owed by China Mobile as a result of an SMS payment and messaging business it operated in China some years ago. After a series of hearings last year, the company learned last week that the Nanjing District Court had rejected its claim, ruling in favour of China Mobile. The company has until this Thursday to lodge notification of an appeal. Orcoda closed at 18.5c on Friday, down 0.5c.
Retail Food Group Limited (RFG):
Retail Food Group has confirmed it is considering selling assets to pay down debt, but says the $100 million price tag media reports have slapped on its Crust Pizza empire is too high. A media outlet reported on Monday that PAG Asia Capital was believed to be in pole position to buy Crust Pizzas from Retail Food Group (RFG) at auction. Shares in Retail Food Group spiked by more than 20 per cent before the company announced a temporary pause in trading to address the speculation. At 12.52am (AEDT) the company was trading 13.56 per cent higher at 33.5 cents.
Wesfarmers Ltd (WES):
Wesfarmers is expecting to post earnings before interest and tax of between $385 million and $400 million when it reports its half year results on 21 February. The company is expected to gain $2.1 billion to $2.3 billion from the November demerger of is Coles supermarket division, and $670 million to $680 million from the sales of its stake in the Bengalla coal mine. Wesfarmers says comparable store sales in its Targets stores have risen 0.5 per cent on the previous corresponding period. This was offset by Kmart, which posted a comparable store sales decline of 0.6 per cent, excluding the gain on sale of the Kmart auto unit.
Westpac Banking Corp (WBC), AMP Limited (AMP), IOOF Holdings Limited (IFL):
Big banks and financial services firms face a litigious 12 months as last year's Hayne royal commission hearings embolden regulators, consumers and shareholders to take them to court. Westpac will defend its home-lending practices against the corporate regulator in a two-week hearing and AMP will defend a civil penalty case for its alleged involvement in the insurance rewriting scandal. AMP will continue to fight a shareholder class action once the NSW Supreme Court picks which law firm gets to run the case, while several law firms are investigating a potential class action against IOOF. New commissioner Sean Hughes said ‘why not litigate’ would be the new mantra at the regulator. However, expert Helen Bird questioned whether ASIC could bring significantly more court cases against major banks without additional government funding.
Woolworths Group Ltd (WOW):
Morgan Stanley analysts have declared Woolworths the winner of the Christmas trading period, outtrading Coles for the third year in a row. They estimated that Woolworths (WOW) grew like-for-like sales by 3 per cent while Coles’ likefor-like sales grew by 2 per cent. Supermarket trade overall improved in December compared with prior months by food inflation and healthy instock positions. Morgan Stanley called current supermarket trading conditions “benign”, saying that competition has progressively reduced over the past two years. They predicted Coles would post a first-half earnings before interest and tax food margin of 4.02 per cent, down 3 basis points year-on-year, while Woolworths would book an earnings margin of 4.74 per cent, up 7 basis points compared to last year.
(Source: AIMS)
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