Equity Research Coverage Reports

360 Capital Industrial Fund (TIX) - Initiating Coverage - Industrial Property Australia - www.360capital.com.au
Saturday, December 7, 2013
The Fund invests in a portfolio of Australian industrial properties and is managed by 360 Capital RE Limited, the Responsible Entity (RE) and wholly owned subsidiary of 360 Capital Property Group.
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KBL Mining Limited - (ASX: KBL) - Turn in Right Direction - Significant Reduction in Cash Costs For Production - Valuation Revision
Saturday, December 7, 2013
KBL’s only producing asset continues to report improved productivity, with cash costs (C1) having declined from $2.70/lb copper after gold and silver credits in the March 2013 quarter to $1.33/lb copper after gold and silver credits in the September 2013 quarter.
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US Masters Residential Property - (ASX: URF) - Rising Property Boosts Profit - Yield Lower, Significant Purchasing Capacity - Valuation Revision
Saturday, December 7, 2013
The Company still had significant cash on hand with $84M (as at 30 June). The Company had only a small amount of borrowings at US$6.4M, which at 30 June 2013 represented less than 3% of the property portfolio value. We note, the company has taken on some additional debt in 2H’13. Property expenses to rental income have declined to 56.3% from 61.3% in the previous year.
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Aguia Resources Ltd - ASX: AGR - Fulfilling Brazil's Fertiliser Needs
Monday, August 26, 2013
Aguia Resources Limited (AGR) is a junior exploration company leveraged to the fertiliser market. The company has interests in three phosphate rock and one potash project all located in Brazil. The company is seeking to become a producer in the near-term to take advantage of the significant fertiliser needs of Brazil, which are currently largely imported.
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Jumbo Interactive Ltd - ASX: JIN - Online reseller of lottery tickets - A Good Bet
Sunday, August 18, 2013
The company has the online platform for Ozlotteries. The company is expecting online sales or Total Transaction Volume (TTV) for FY13 of over $100m, from which it expects to earn commissions of approximately 23%. While the company is expected to face pressures on the level of commissions it can charge in the coming years as a result of increasing competition.
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