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Australasian Equities

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Speculative

high

Buying back the south Yamarna that is Gold Road Resources (ASX:GOR) while in the midst of building a mine in the northern part of the Yamarna Belt has moved to acquire the interest that it does not already own in the southern part of the Yamarna Belt. The acquisition brings the whole of the Yamarna Belt back under the control the company. The following figure shows the location of and geological setting of the Yamarna Belt: Source: Gold Road Resources (ASX:GOR) The company

9 Spokes (ASX:9SP)

Speculative

high

The proof is in the pudding Business dashboard aggregator 9 Spokes (ASX:9SP) has been a disappointing performer since adding it to the Fat Prophets Portfolio in late 2016. We have caveated our research coverage that the recommendation was a highly speculative one, and that Members would need to adopt a longer term horizon given that revenues, let alone earnings, were at an embryonic stage. That said, and despite some operational progress, and new mandate wins, overall investor appetite for the shares

Mantra Group (ASX:MTR)

Special

medium

Getting the Green Light Mantra Group (ASX:MTR) has received approval from the key regulatory authorities for its takeover from the French hotel chain Accor Hotels. The deal remains subject to the approval of Mantra’s shareholders and approval from the Federal Court of Australia, both of which we expect to be forthcoming. Accordingly, the deal could be concluded as early as May 2018. Mantra’s business model has been focused on serviced apartments offered through the Peppers, Mantra, Art Series and Breakfree brands. Source: Mantra

AWE (ASX:AWE)

Speculative

high

Is Mitsui about to sing – we think so The period to accept the Mitsui & Co takeover offer for AWE (ASX:AWE) will close on 6 April 2018. In response to a slow acceptance rate of its offer, Mitsui & Co has announced its intention not to extend the acceptance period beyond the current close date, subject only to its ownership level in AWE at the close. Mitsui & Co has also indicated an intention not to change the current consideration

Greencross (ASX:GXL)

Speculative

high

Momentum Despite Threats Shares in integrated petcare player, Greencross (ASX:GXL) have remained under pressure since the arrival of Amazon to Australia in December. Despite that threat, the company has performed quite well operationally with the roll-out of its co-location stores, combining both veterinary clinics with retail locations. We see evidence of that in the company’s most recent interim results which is the focus of today’s report. That aside, the company also transitioned Mr Simon Hickey as the new CEO. What’s New As we’ve

ANZ Banking Group (ASX:ANZ)

Core

medium

Restructuring should lead to re-rating ahead Some headwinds have seen ANZ’s share price lag the broader market over the past year. However, the restructuring of the business has advanced well, with the bank’s capital position already topping regulators “unquestionably strong” threshold well ahead of schedule. The bank has already kicked off a share buyback program and with the shares trading at undemanding levels and offering an attractive dividend, we rate them as a buy. ANZ (ASX:ANZ) delivered an 18% year-on-year increase in

OneVue Holdings (ASX:OVH)

Speculative

high

A SUPER performance Since our last coverage of OneVue Holdings (ASX:OVH) in January (FAT-AUS-855), the company has released a number of key updates highlighting management’s focus on strengthening core businesses and divesting non-core operations. The company has also reported interim results which confirm the underlying operational and financial momentum. Accordingly, we maintain our BUY rating, and remain attracted to OneVue given the company’s growth potential and high degree of operating leverage. What’s New? In late February, the company revealed it had inked a

Saracen Minerals (ASX:SAR)

Speculative

high

Bottle the first half Saracen Minerals (ASX:SAR) recently released production results to 31 December 2017 pointed to what was likely to be a very good first half financial result for the company, and it delivered in spades. The company reported a strong surge in profit for the first half and with that a super quality balance sheet. With the company rolling out an intensive growth programme, a dividend remained elusive but is not a concern. The following table shows a summary

About these archived stock reports

These are archived Fat Prophets equity research stock reports and share analysis. They do not constitute current investment advice, financial product advice, or a recommendation to buy, sell or hold any financial product. They are provided for historical reference only, and reflect the market conditions, company information, forecasts and opinions available at its original publication date. The information may no longer be current or applicable. Past performance is not a reliable indicator of future performance.

This is general information only and does not take into account your objectives, financial situation or needs. Before acting on anything in this report, you should consider its appropriateness to your circumstances and seek advice from a licensed financial adviser.

DISCLAIMER Fat Prophets has made every effort to ensure the reliability of the views and recommendations expressed in the reports published on its websites. Fat Prophets research is based upon information known to us or which was obtained from sources which we believed to be reliable and accurate at time of publication. However, like the markets, we are not perfect. This report is prepared for general information only, and as such, the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore discuss, with their financial planner or advisor, the merits of each recommendation for their own specific circumstances and realise that not all investments will be appropriate for all subscribers. To the extent permitted by law, Fat Prophets and its employees, agents and authorised representatives exclude all liability for any loss or damage (including indirect, special, or consequential loss or damage) arising from the use of, or reliance on, any information within the report whether or not caused by any negligent act or omission. If the law prohibits the exclusion of such liability, Fat Prophets hereby limits its liability, to the extent permitted by law, to the resupply of the said information or the cost of the said resupply.

Funds Management – In addition to the listed fund FPC, Fat Prophets Pty Ltd manages the separately managed accounts, namely Concentrated Australian Shares, Australian Shares Income, Small Midcap, Global Opportunities, Mining & Resources, and Asian Shares. These SMAs are managed under their own mandates by the fund managers, and this is independent to the research reports.

Staff trading – Fat Prophets Pty Ltd, its directors, employees and associates of Fat Prophets may hold interests in many ASX-listed Australian companies which may or may not be mentioned or recommended in the Fat Prophets newsletter. These positions may change at any time, without notice. To manage the conflict between personal dealing and newsletter recommendations the directors, employees, and associates of Fat Prophets Pty Ltd cannot knowingly trade in a stock 48 hours either side of a buy or sell recommendation being made in the Fat Prophets newsletter. Staff trades are pre-approved by an appointed staff trading compliance officer to ensure compliance with the staff trading policy.

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About these archived stock reports

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