Initiation of Coverage of Felix Gold (ASX: FXG)

gavinwendt News

Felix Gold Limited is an ASX-listed exploration company that’s focused on the Tintina gold provincein Alaska USA. The company was listed on 28 January 2022 and has commenced its 2022exploration drilling program during April 2022. Felix’s strategic 392 sq km tenure is located within a district that has a gold endowment of over 20Moz – with the larger deposits including …

Recommended Plus Rating Reaffirmed for NB Global Corporate Income Trust (ASX: NBI)

Claire News

NB Global Corporate Income Trust (ASX: NBI) listed on the ASX on 26 September 2018, raising $413m. To further increase market liquidity and satisfy latent investor demand the Manager has completed one secondary capital raisings since listing, with a second capital raising being withdrawn due to market conditions. The portfolio is managed by Neuberger Berman Australia Ltd (the “Manager”), a …

Recommended Rating Reaffirmed For ECP Emerging Growth Limited (ASX: ECP)

Claire News

ECP Emerging Growth Limited (ASX: ECP), previously Barrack St. Investments Limited, listed on the ASX in August 2014, raising $16.0m through the issue of 16.0m shares at $1.00 per share. ECP provides exposure to a concentrated portfolio of ex-50 ASX-listed companies. The portfolio is managed by ECP Asset Management Limited (the “Manager”), an Australian based asset manager that was established …

Updated Coverage of Hawsons Iron Limited (ASX: HIO)

gavinwendt News

We have updated our coverage of Hawsons Iron to accommodate some errors in Table 7 of our original note, which related to capital and operating costs for Hawsons Iron and its peers, including Magnetite Mines (ASX: MGT). This updated version of our note replaces our prior note, which has been fully retracted. With steelmaking responsible for an estimated 6.7% of …

LMI Monthly Update – SPP’s on the Menu

Claire News

In this edition of the IIR LMI monthly update, we take a look at the key news for the sector in March. There was a number of Share Purchase Plans (SPP’s) announced and completed during the month as LICs and LITs seek to raise additional capital to take advantage of market volatility. Some of the key news items include: PIMCO …

IIR Reaffirms Recommended Plus Rating for Pengana Private Equity Trust (ASX: PE1)

Claire News

The Pengana Private Equity Trust (ASX: PE1) is a listed investment trust (LIT) providing exposure to a portfolio of global private market investments. The Trust is coming up to its three-year anniversary with the Trust listing in April 2019, raising $205m through the issue of 164m units. The Trust raised a further $93.5m through a secondary market capital raising in …

Updated Coverage of Kogi Iron (ASX: KFE)

gavinwendt News

The last 12 months have seen some significant changes in Kogi Iron, including an almost total refresh of the board, and the all-scrip acquisition of several iron ore projects in Western Australia, with this also bringing several experienced and recognised resource identities onto the register as cornerstone shareholders. The main focus however will remain its 100%-owned Agbaja Integrated Cast Steel …

Argo Investments Limited (ASX: ARG) Announces Share Purchase Plan

Claire News

On 8 March 2022, ARG announced a Share Purchase Plan (SPP). The SPP opens on 11 March 2022 and will close on 24 March 2022 providing eligible shareholders the opportunity to acquire up to $30,000 of new ARG shares. New shares will be issued at the lower of : $9.30 per share – represents a 2% discount to the closing …

AMCIL Limited (ASX: AMH) Raises $10m through SPP

Claire News

AMH announced that it raised $10m through the recent Share Purchase Plan (SPP). Approximately 530 shareholders participated in the SPP, representing a participation rate of 16%. Shares will be issued at $1.15 per share with new AMH shares to be issued on 9 March 2022.