Bisalloy Steel Group Ltd (BIS.ASX)

Event: BIS reported its FY10 result.

20/08/2010

Industrea (IDL.ASX)

Event: IDL reported its FY10 result.

19/08/2010

Ammtec Ltd (AEC.ASX)

Event: AEC reported its FY10 result.

17/08/2010

Imdex Ltd (IMD.ASX)

Event: IMD reported its FY10 result.

16/08/2010

Mirabela Nickel Ltd (MBN.ASX)

Event: MBN released its 1HCY10 Financial Report.

13/08/2010

Bisalloy Steel Group Ltd (BIS.ASX)

Event: We preview BIS’ FY10 result due on 20 August 2010.

05/08/2010

Robust Resources Ltd (ROL.ASX)

- Initiation of coverage

Event: We initiate on Robust Resources (ROL) with a Spec. Buy.

04/08/2010

Imdex Ltd (IMD.ASX)

Event: We preview IMD’s FY10 result due on 16 August 2010.

04/08/2010

Austar United Communications (AUN.ASX)

Event: AUN reported its 1HCY10 result.

29/07/2010

Catalpa Resources Ltd (CAH.ASX)

Event: CAH released its June Quarterly Activity Report.

27/07/2010

Mirabela Nickel Ltd (MBN.ASX)

Event: MBN released its June Quarterly Activity report and conducted a conference call.

27/07/2010

Industrea (IDL.ASX)

Event:IDL has refinanced and extended its senior debt facility for three years.

22/07/2010

Ammtec (AEC.ASX)

Event:AEC announced FY10 NPAT (unaudited) of $7.2m.

21/07/2010

Austar United (AUN.ASX)

Event: We preview AUN’s 1HCY10 result due for release on Thursday 29 July 2010.

20/07/2010

Paladin Energy Ltd (PDN.ASX)

Event: PDN reported 4QFY10 U3O8 production of 1.442mlbs (FSBe 1.375mlbs).

19/07/2010

Panoramic Resources (PAN.ASX)

PAN reported preliminary and unaudited Group Ni production of 17.6kt for FY10 (FSBe – 17.9kt).

07/07/2010

Industrea (IDL.ASX)

Industrea Ltd (IDL) announced the signing of $22.2m of new orders into China.

05/07/2010

Iron Ore Holdings Ltd (IOH.ASX)

IOH announced an update on the Phil’s Creek Ore Sales Agreement and the associated Relationship Agreement with Rio Tinto (RIO). Key terms of the agreement regarding access to RIO’s Yandicoogina site for delivery of Phil’s Creek ore have not been agreed.

29/06/2010

Campbell Brothers (CPB.ASX)

Campbell Brothers (CPB) provided strong 1HFY11 (end 30 Sept) NPAT guidance of $63m-$68m, up 64%-78% on the pcp and 32%-43% ahead of our $48m forecast. This would be a record half year profit for the company.

29/06/2010

Finders Resources (FND.ASX)

- Initiation of Coverage

FND is currently producing copper cathode at a rate of 1.8ktpa and plans to increase production to 23ktpa for ~9 years. This involves a 2 stage ramp up at its Wetar Island operation (FND – 94%) in Indonesia over the next two years.

24/06/2010

Extract Resources (EXT.ASX)

EXT’s primary asset is the Rossing South uranium deposit in Namibia which currently contains 267mlb in JORC Resources plus an identified Target range of 185-285mlb. A Preliminary Cost Estimate study completed in 2009 envisages producing ~15mlbpa for at least 20 years with first production scheduled for late 2013. Operating costs estimated in the study are $23.60/lb U3O8.

22/06/2010

Campbell Brothers (CPB.ASX)

- Resuming coverage

We resume coverage on Campbell Brothers (CPB) with a Buy recommendation and a $33.50/share price target.

22/06/2010

Paladin Energy Ltd (PDN.ASX)

We upgrade our recommendation to Hold from Sell. We flagged project ramp up risk and short term weakness in uranium prices as key reasons for our Sell call last year.

24/05/2010

Ammtec Ltd (AEC.ASX)

CPB offers $3.35/share for AEC. Campbell Brothers Ltd (CPB) has made an unsolicited offer of $3.35/share for all the issued capital in Ammtec Ltd (AEC).

19/05/2010

Bisalloy Steel Group Ltd (BIS.ASX) - Initiation

Bisalloy Steel Group Ltd (BIS) is the Australian market leader and only domestic producer of Quench and Tempered (Q&T) high-tensile, abrasion resistant and armour grade alloyed steel plates.

27/04/2010

Austar United Communications Ltd (AUN.ASX)

Austar’s 1QCY10 result was strong financially with 10% EBITDA growth on 7% revenue growth. Although growth of the subscriber base has moderated, the existing subscribers are taking more higher-value products, such as MyStar, MyStar HD, and additional outlets, which has grown ARPU and margins.

23/04/2010

Catalpa Resources Ltd (CAH.ASX)

CAH to raise $20m in new equity and convert a $10m mezzanine facility into an existing project loan facility. $10m will be placed to new Institutional Investors at $1.32/share and $10m will be raised from a fully underwritten renounceable Entitlement Offer at $1.25/share.

10/03/2010

Catalpa Resources Ltd (CAH.ASX)

CAH announced construction at Edna May is one month ahead of schedule and first gold pour at the 100kozpa operation is now expected in May 2010. We also note 100kt of ore is already on the ROM pad and the operation remains Lost Time Injury Free.

03/03/2010

Austar United Communications Ltd (AUN.ASX)

Austar’s CY09 result exhibited solid operating leverage in a tough consumer market. The company achieved 11% EBITDA growth on 7% revenue growth against a weak macro backdrop and natural disasters (fires and floods) in regional Australia.

24/02/2010

Imdex Ltd (IMD.ASX)

Imdex reported 1HFY10 adjusted NPAT of $4.6m, down 65% yoy (FSBe $7.0m). The reported NPAT figure of -$24.6m (pcp $11.6m) included significant items such as a low effective tax rate, non-cash amortisation charges, and non-operating fx movements. Imdex elected not to pay an interim dividend.

22/02/10

Catalpa Resources Ltd (CAH.ASX)

CAH is an emerging mid tier Australian gold producer with a 30% interest in the ~100kozpa Cracow gold mine in Queensland and a 100% interest in the ~100kozpa Edna May gold mine in Western Australia which is expected to pour first gold in June 2010.

11/02/10

Iron Ore Holdings Ltd (IOH.ASX)

IOH announced a maiden resource for Buckland Hills of 47.9mt @ 58% Fe in line with our estimate of40-60mt in December 2009.

02/02/10

Krucible Metals (KRB.ASX)

- Initiation

Krucible Metals (ASX:KRB) is an Australian, ASX-listed phosphate developer and base/precious metal explorer focused in Qld. The company has a 5mt @ 30.8% P2O5 JORC resource within a larger 19.3mt @ 19.0% P2O5 resource located adjacent to Incitec Pivot’s (IPL) Phosphate Hill deposit and fertiliser processing plant in Queensland.

17/12/09

Coal of Africa Ltd (CZA.ASX)

Thermal coal sales achieved in Sep 2009. CZA’s Mooiplaats thermal coal mine loaded its first coal in September bound for the Port of Matola where the company anticipates a shipping program to commence in the Dec quarter.

09/10/09

CuDeCo Ltd (CDU.ASX)

- Initiation of coverage

CDU’s primary asset is the Rocklands copper project, located 15km from Cloncurry, Qld. An initial JORC resource of 25mt @ 1.57% Cu, 818g/t Co and 0.2g/t Au was announced in July 2006 with an additional target of 34mt at similar grades.

26/08/09

Energy Resources of Australia Ltd (ERA.ASX)

ERA reported NPAT for 1HCY09 of $127.6m (FSBe $123.6m), up 228% on 1HCY08. ERA’s profit was in line with company guidance given recently of $120m - $130m. Therefore, the headline profit was no great surprise to the market.

03/08/09

Panoramic Resources Ltd (PAN.ASX)

Event. Last week we visited PAN’s Savannah and Lanfranchi nickel operations in W.A.

In brief, we came away with increased confidence that production at Savannah and Lanfranchi is highly likely to continue for approximately 10 and 8 years respectively.

15/06/09

Paladin Energy Ltd (PDN.ASX)

3QFY09 U3O8 production of 686k lbs was up 2% on 2QFY09, driven from increased mill throughput, but partially offset by reduced recoveries. As a result of minor delays at both projects, PDN revised its forecast production for FY09 down from 3.35M lbs to a range of 3 – 3.1M lbs.

28/04/09

The MAC Services Group Ltd (MSL.ASX)

The MAC delivered a solid 1HFY09 result with NPAT of $12.1m, up 34% on the pcp, 18% ahead of our forecast (FSBe $10.3m). Once again, the profit figure was clean, requiring no adjustments.

09/02/09

Po Valley Energy Ltd (PVE.ASX)

PVE announced on 5 January 2009 that it has secured its first gas off-take sales agreement totalling €38m (~A$76m). The terms of the agreement cover PVE’s initial commissioning period for Castello and Sillaro and three years of supply until September 2012.

09/01/09

Silex Systems Ltd (SLX.ASX)

-Initiation of Coverage

Silex Systems (SLX) is a research and development company whose assets are its proprietary rights in technologies, primarily the Silex technology, as well as the Translucent technology and Chronologic Inc. (formerly Fibrebyte).

04/09/08

Geodynamics Ltd (GDY.ASX)

Geodynamics is one of Australia’s largest emerging renewable energy producers developing emission-free, base-load electricity from known hot fractured rocks (HFR). The company has HFR in geothermal tenements in NSW, QLD and SA. South Australia’s Cooper Basin has some of the highest geothermal gradients in the world. The thermal resource equivalent at GDY’s tenements in the Cooper Basin is estimated to be 50 billion barrels of oil. To put this into context, Australia’s current total oil reserves are 2.9 billion barrels.

22/04/08

Biota Holdings Ltd (BTA.ASX)

Biota reported NPAT of $5.5m for 1H08, up 35% on pcp and 177% higher than our forecast of $2.0m. This was driven by Relenza royalties received by BTA which increased to $16.5m, up 30% on pcp and 26% higher than our estimates. This is a strong result for the company and long-awaited by the market. We believe that GSK’s renewed interest in marketing Relenza will translate to stronger than expected 2H08 sales.

20/02/08