Metrics Master Income Trust (ASX:MXT) (the “Trust”) listed in October 2017 raising $516m through the issuance of 258m units at a price of $2.00 per unit. Since listing the Trust has grown to a market cap of $1.5b with 736.1m units on issue. The Trust is managed by Metrics Credit Partners (“MCP” or the ‘Manager’), an Australian private debt-specialist asset …
Recommended Plus Rating Reaffirmed for Plato Income Maximiser Limited (ASX: PL8)
Plato Income Maximiser Limited (ASX: PL8, or “the Company”) has a dual objective: (1) deliver an income yield, including franking credits and after fees, in excess of that provided by the benchmark (the S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (tax exempt)); and (2) generate a total return (after fees) in excess of the benchmark over each full …
Initiating Coverage on Chimeric Therapeutics Limited (ASX: CHM)
Chimeric Therapeutics Limited (ASX: CHM) is a clinical stage cell therapy company. CHM commenced trading on the ASX on 18 January 2021. The Company raised $35m through the issue of 175m shares at an issue price of $0.20. The Company currently has 333.4m shares on issue, 115.2m shares are classified as restricted and will be escrowed until 18 January 2023 …
Updated Coverage on Jindalee Resources (ASX: JRL)
We have updated our coverage of Jindalee Resources (ASX: JRL), which we originally covered during May 2020. Jindalee’s major asset is the McDermitt Lithium project in the USA. McDermitt’s lithium is contained within clays at surface, so is in a different class compared to the hard rock spodumene or pumping based brine deposits. This class is relatively new, as yet …
Initiating Coverage on Radiopharm Theranostics Limited (ASX:RAD)
Radiopharm Theranostics Limited (ASX: RAD) is a clinical stage pharmaceutical company that focuses on the development of radiopharmaceuticals, which are radioisotopes bound to molecules to diagnose and treat diseases. The Company has secured the licences to four platform technologies which it is seeking to develop for the diagnosis and treatment of a range of cancers. RAD was incorporated in February …
Updated Coverage on FYI Resources Limited (ASX: FYI)
FYI Resources Limited has made major progress on, and significantly derisked its Western Australian High Purity Alumina “HPA” Project since our late 2020 Initiation Note. The most significant event was the mid-year signing with Alcoa of a Binding Term Sheet looking to the development of the HPA Project; this follows on from a previous MoU under which Alcoa undertook extensive …