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Independent Research

The New Criterion: in any language, English testing is a lucrative market

The federal government may have succeeded in cleaning up the woeful private vocational education sector, but now faces a fresh issue in its quest to protect the $35 billion foreign student trade. Foreign students may have emerged as Australia’s third biggest export industry, but the problem is that too many students are deficient in English and given most courses are taught in the Queen’s language it’s not exactly a shortcoming that Google Translate can rectify. Last year Australia hosted 179,342 foreign students learning English, an increase of 1 per cent on the previous year and a 10 per cen...

Independent Research

Listed Managed Investment Indicative NTA Report - 22 November 2019

The Listed Managed Investment (LMI) Indicative NTA Report tracks the indicative movement of a LMIs pre-tax NTA throughout the month by monitoring the movements in the disclosed holdings and using an index to track the movement of the remainder of the portfolio. We note that the indicative NTA is only an estimate based on the information provided by the LMIs. The indicative NTA is most accurate for those companies/trusts that have a highy concentrated portfolio, disclose a large percentage of their portfoio holdings, have low turnover and regular disclosure of the cash position. The Indicative ...

Independent Research

Listed Managed Investment Indicative NTA Report

Listed Managed Investment Indicative NTA Report - 15 November 2019

Independent Research

The New Criterion - Copper Market Update

Copper Market Update Copper is presently engaged in a tug-of-war between negative near-term factors and positive longer-term considerations. Copper is facing near-term economic/trade-related concerns on the one hand, which have negatively impacted metal pricing and demand; whilst on the other hand the outlook is positive based on the prospect that copper mine supply will fail to keep up with burgeoning electric vehicle (EV) demand, along with other applications. These near-term negative issues have adversely impacted the share prices of copper producers and aspiring producers alike, making it ...

Independent Research

The eInvest Cash Booster Fund (‘the Fund’ or Ticker: ECAS)

eInvest Cash Booster Fund (‘the Fund’ or Ticker: ECAS) is an Exchange Traded Fund (ETF) that listed on 11 November 2019. It is very low risk, return Australian debt and term deposits (TDs) mandate managed by Daintree Capital Management Pty Limited (the ‘Manager’ or ‘Daintree’), a Sydney based boutique fixed income specialist founded in 2017 as a 50/50 joint venture (JV) with PVM Capital Partners Ltd (Perennial)). The Fund targets an annualised return of RBA Cash + 50-75 basis points (bps) after fees with consistent monthly income while trying to minimize volatility, negative performance months...

Independent Research

The eInvest Core Income Fund (‘the Fund’ or Ticker: ECOR)

The eInvest Core Income Fund (‘the Fund’ or Ticker: ECOR) is an Exchange Traded Fund (ETF) that is expected to list on 22 November 2019. It is an absolute return, global investment grade traded debt mandate managed by Daintree Capital Management Pty Limited (the ‘Manager’ or ‘Daintree’), a Sydney based boutique fixed income specialist founded in 2017 as a 50/50 joint venture (JV) with PVM Capital Partners Ltd (Perennial). The Fund targets an annualised return of RBA Cash basis points (bps) after fees with consistent monthly income while trying to minimize volatility, negative performance mont...

Independent Research

The eInvest Income Maximiser Fund (‘the Fund’ or Ticker: EMAX)

The eInvest Income Maximiser Fund (‘the Fund’ or Ticker: EMAX) is an Exchange Traded Fund (ETF) that is expected to list on 22 November 2019. It is an absolute return, global investment grade traded debt mandate managed by Daintree Capital Management Pty Limited (the ‘Manager’ or ‘Daintree’), a Sydney based boutique fixed income specialist founded in 2017 as a 50/50 joint venture (JV) with PVM Capital Partners Ltd (Perennial). The Fund targets an annualised return of RBA Cash basis points (bps) after fees with consistent monthly income while trying to minimize volatility, negative performance...

Independent Research

IIR Inidctive Weekly NTA Summary of Listed Managed Investments

The Listed Managed Investment (LMI) Indicative NTA Report tracks the indicative movement of a LMIs pre-tax NTA throughout the month by monitoring the movements in the disclosed holdings and using an index to track the movement of the remainder of the portfolio. We note that the indicative NTA is only an estimate based on the information provided by the LMIs. The indicative NTA is most accurate for those companies/trusts that have a highy concentrated portfolio, disclose a large percentage of their portfoio holdings, have low turnover and regular disclosure of the cash position. The Indicative...

Independent Research

Copper Market Outlook

Copper is presently engaged in a tug-of-war between negative near-term factors and positive longer-term considerations. Copper is facing near-term economic/trade-related concerns on the one hand, which have negatively impacted metal pricing and demand; whilst on the other hand the outlook is positive based on the prospect that copper mine supply will fail to keep up with burgeoning electric vehicle (EV) demand, along with other applications. These near-term negative issues have adversely impacted the share prices of copper producers and aspiring producers alike, making it harder for them to ga...

Independent Research

Bardoc Gold Limited (ASX:BDC) - Western Australia,

CONSOLIDATION CONTINUES TO DELIVER Since the October 2018 merger with Excelsior Gold, Bardoc Gold Limited (“Bardoc”, or the Company) has continued to make major progress on the 100% owned Bardoc Gold Project (“BGP”), located north of Kalgoorlie in Western Australia. The current Project area, located within the highly prolific Eastern Goldfields of the Yilgarn Craton (one of the world’s premier mining districts), is the result of the ground consolidation undertaken since 2017, with the Company now working towards a Pre-Feasibility Study (“PFS”), targeting a standalone operation with a central m...

Independent Research

The Long Awaited Gold Breakout

The Long Awaited Gold Price Breakout “You have to choose (as a voter) between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold.” — George Bernard Shaw. We’ve witnessed an extraordinary breakout with respect to the price of gold over recent months. The yellow metal broke out above its critical level of technical resistance during the month of June, rising above the high reached during July 2016 of $...

Independent Research

The New Criterion: Picking the One Cent Wonders that could become Dollar Dazzlers

When a stock is trading at a fraction of a cent, it’s usually a message for investors to abandon all hope and sell for the tax losses while they can. But ‘penny dreadful’ shares can sometimes rise from the ashes

Independent Research

Navarre Minerals Limited (ASX: NML)

VICTORIA’S GOLDEN COMEBACK Navarre Minerals Limited (“Navarre” or “the Company”) is one of the pioneers of Victoria’s gold renaissance having been an early mover to access quality exploration acreage when the competition for prospective ground was less intense. Within its project portfolio, Navarre is generating considerable exploration success, including discoveries at Irvine and more recently at the Langi Logan gold prospects within the broader Stawell Corridor Gold Project (“SCGP”) as well as at Tandarra, along the Whitelaw Fault Corridor north of Bendigo. Although early days, these discove...

Independent Research

Talisman Mining Limited (ASX: TLM)

SUCCESSFUL EXPLORERS IN QUALITY GROUND Since rewarding shareholders with a A$0.22/share return of capital and fully franked dividend from the sale of the 30% share in the Springfield JV in WA to Sandfire Resources (ASX: SFR, “Sandfire”), Talisman Mining Limited (“Talisman” or “the Company”) is now concentrating exploration activities on the Cobar Basin in the Lachlan Fold Belt (“LFB”) of New South Wales. The Cobar Basin, which is the most mineralised poly-metallic basin in New South Wales, has a long history of mining dating back to 1871, and is the home to a number of past and present major b...

Independent Research

TNG Limited (ASX:TNG)

NEARING DEVELOPMENT TNG Limited (“TNG” or “the Company”) has made significant progress towards a planned Final Investment Decision (“FID”), expected by mid-2020, for its 100% owned Mount Peake Vanadium- Titanium-Iron Project (“Mount Peake” or “the Project”), located in the Northern Territory (“NT”) of Australia. The Project includes two components - the Mount Peake mine site located near Alice Springs, and the TIVAN® processing plant in Darwin A key advance, as presented in our December 2018 Flash Note, has been the mandating of the German Government owned KfW IPEX-Bank as the lead debt arrang...

Independent Research