Key contacts

Will Corkill

Will Corkill

Simon Wilson

Simon Wilson

Regional office - Australia
Level 25
Aurora Place
88 Phillip Street
NSW 2000
Tel: +61 (0)2 9258 1161

Regional office - New Zealand
Level 15
171 Featherston Street
Wellington 6011
New Zealand
Tel: +64 (0)4 8948555

listed companies

Range Resources Nkwe Platinum
MEC Resources Coal of Africa
Syndicated Metals Gold One
Bionomics Allied Gold Mining
Phylogica ADX Energy
Alkane Resources Bellzone Mining
Sumatra Copper & Gold Continental Coal
Gunson Resources RedFlow
Lochard Energy Circadian Technologies
Universal Coal Biotron
See more

Companies with HQs in asia-pacific

Seeing Machines Forterra Trust
Greka Drilling Bezant Resources
Green Dragon Gas Baobab Resources
Endace Wynnstay Group
PXP Vietnam Fund Chatham Rock Phosphate
Tenon MMG
SeaDragon Contact Energy
Cue Energy New Zealand Oil & Gas
Rubicon Sky Network Television
Pura Vida Energy Sealegs Corporation
See more

Latest research

Heartland New Zealand

NZ-focused financial services company

QuickView | Financials | 30/10/2014

Heartland New Zealand was created by merger in January 2011 and focuses on providing financial services to its core markets of SMEs, rural (ie farms, farm machinery and livestock) and households. It focuses on the less contested sectors to achieve a better risk/return balance. As a result, Heartland achieves an average interest margin of 4-5% compared to the larger banks of c 2%. It currently earns an ROE of 9% and targets 11% to 14%, which compares to a sector average of around 14% in 2013.


Pipeline progress

Update | Pharmaceutical & Healthcare | 30/10/2014

Mesoblast’s product pipeline continues to mature as key milestones are met. The filing of MSC-100-IV in graft vs host disease (GvHD) in Japan in early October marks its first product submission. Phase III trials started early this year for MPC-150-IM in congestive heart failure (CHF), while Phase III trials for MPV-06-ID in low back pain are expected to start by the end of 2014 following a productive meeting mid-year with the FDA. Mesoblast recently announced a new tiered product structure,…


Revised valuation; Las Bambas update

Update | Mining | 28/10/2014

We increase our 2014/15 earnings estimates for MMG on the back of the strong H114 results and updated commodity price assumptions. As a result, our core NAV for the company moves from HK$2.0/share to HK$2.2. Following the increase in capex and commissioning delay, we in turn lower our net attributable valuation of Las Bambas to HK$0.44/share. At the same time, we remain positive on the project as we see a number of upside risks to our valuation and the copper market fundamentals remain strong.

Challenger Energy

Emerging South Africa shale story

Outlook | Oil & Gas | 28/10/2014

Challenger Energy (CEL) offers pure-play exposure to a frontier shale area, South Africa’s Karoo basin. The Karoo, the world’s eighth largest shale gas deposit, is estimated to contain 390tcf of recoverable gas by the EIA and has attracted interest from supermajors Shell and Chevron. South Africa’s worsening energy shortage implies significant latent gas demand, and President Zuma has described shale as a “game changer” for the country. CEL was first mover in the basin,…

Alkane Resources

Ahead of target and reconfiguring the TGO

Update | Mining | 15/10/2014

The TGO continues to outperform, with gold production ahead of our Q115 estimate and at low quartile total cash operating costs of A$867/oz. Continued positive mine-to-mill reconciliations have now resulted in Alkane reviewing its resource base and mine planning with a view to optimising the TGO’s future production profile. This could bring forward underground production and combine the planned Caloma and Caloma Two open pits.


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