Report Date: 26 October 2015
Where are we in the Cycle?
Expectations of further monetary stimulus in Japan, Europe and China are
benefiting asset prices but doing little for the growth outlook critical to
raw material demand. Currency movements were again detrimental to metal
price action. More...
Market Directions
Recent US labour market statistics have pointed to continued upward
pressure on equity prices. Markets treated the prospect of more monetary
stimulus (and a delayed withdrawal of stimulus in the USA) as good news
rather than a sign of impending weakness.
More...
Portfolio Performance and Positioning
Gains continued to flow among earlier stage stocks. Portfolio model
exposures benefited from the presence of Bannerman Resources, Impact
Minerals and Santos. There were no changes to the portfolio models during
the week.
More...
Stock Reviews and Rating Analysis
Rating reviews for Blackham Resources (BLK:AU), Red 5
(RED:AU) and 88 Energy (88E:AU) have been
completed recently. Coincidentally, all three are clawing their way back
from investment histories which have required them to rehabilitate their
investment presence. All have some way to go but have grounds for optimism
about their renewed prospects. Blackham is now funded to start gold
production within 12 months. Red 5 still needs to detail its medium term
mine plans to fully demonstrate a strong value proposition but profitable
production has recommenced. After reinventing itself as an Alaskan oil
explorer, 88 Energy is putting down its first exploration hole in
technically prospective areas after previously finding nothing of
consequence off the coast of Morocco.
For recent company reports...