Our Research

Company Profile Reporting

IIR provides company profile coverage on companies that do not qualify for valuation as the company may be in early stages of development like a junior miner exploration company or a company in the life sciences sector. However our research will provide a narrative on the company’s strategy, assessment of management competency together with providing fundamental analysis complete with an in depth report, and commentary on all market sensitive announcements over the term of coverage, which is generally twelve (12) months. Generally, our profile research service highlights the key relevant information about the company and critical observations made by our analysts.

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November 5, 2018

QEM Limited – (ASX: QEM) – Riding the Vanadium Wave

The Julia Creek Resource is large, and should work lead to a potentially viable operation, should be able to support such an operation for a considerable timeframe, in addition the resource is shallow with the potential for open cut mining -There will be an active work programme initially leading towards the completion of a Pre-feasibility Study (“PFS”), which will result in a steady news flow -...
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October 29, 2018

Protean Energy Limited (ASX:POW) – Vertically Integrated Vanadium – Electrolyte Development – V-KOR battery technology – South Korea

With an enterprise value of only A$3.22 million (significantly lower than that of peers), the Company is well leveraged to any success in either Daejon or V-KOR. Due to structural changes in the markets and growing demand leading to supply deficits, recent months have seen very strong price rises for vanadium. Despite generally being under the radar, South Korea has a history of mining, with a well developed law and supportive Government agencies....
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October 15, 2018

Sheffield Resources Limited (ASX: SFX) – Mineral Sands – Offtake Agreements in Place – Funding & Permits Approved – WA

We have a current base case value of A$1.75/share for Sheffield, with the majority of this ascribed to our risked NPV8 valuation of Thunderbird. Our per share valuation is based on a share structure diluted for equity raised for the development of Thunderbird. The current deep discount in the value of Sheffield to the expected value of Thunderbird, that the Company or the Project make an attractive takeover or acquisition opportunity....
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October 4, 2018

Middle Island Resources (ASX: MDI) – Gold – Explorer – WA

Material Progress at their Sandstone Project in WA. With an EV of only ~A$10 million, Middle Island is well leveraged to exploration and development success. Ongoing activities should provide steady news flow through the rest of 2018 and into 2019....
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October 4, 2018

Jaxsta Limited – Online Platform – Centralised Database of Official Music-related Information – Technology

The platform seeks to provide access to the information that used to be provided in the “album jacket” that has been lost as a result of the digitalisation of music. Bell Potter were the Broker that engineered the reverse takeover of Mobilarm Limited....
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October 4, 2018

Liontown Resources Limited (ASX: LTR) – Lithium and Vanadium – Battery – WA/QLD

Results to date from the three key projects, Kathleen Valley, Buldania and Toolebuc have been very encouraging, highlighting their prospectivity to host potentially economically viable mineralisation for both lithium and vanadium....
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May 14, 2018

Rimfire Pacific Mining NL (ASX: RIM) – Diversified Exploration Portfolio

The results of work to date, including the discovery of Sorpresa, confirm the quality of this under explored tenement package, the Project also contains the right rocks of the right age to support the porphyry and associated mineralisation potential....
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May 14, 2018

Pioneer Resources Limited (ASX: PIO) – High Quality Lithium-Bearing Lepidolite – High Margin, Low Risk, High cash flow opportunity

Lepidico (ASX: LPD) is developing the L-Max® metallurgical process to treat lepidolite and other lithium micas, long considered second cousins to spodumene which forms a basis to the Australian hard-rock lithium industry....
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March 14, 2018

Technology Metals Australia Limited (ASX: TMT) – World Class Vanadium Deposit – Metallurgical Test Work to Date Very Positive

With an undiluted enterprise value of ~ A$14 million and at a multiple below that of peers, the Company could be considered undervalued and is well leveraged to success in advancing Gabanintha and improving vanadium markets, as well as to any other opportunities that may be taken advantage of....
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