by Staff Writers | Aug 16, 2021 | Novonix Limited
NOVONIX (NVX) announces that strategic investor Phillips 66 (PSX) has entered into an agreement with NVX to acquire 77.9m new shares for US$150m (A$203m). PSX is the world’s largest producer of speciality petroleum coke – a precursor for battery grade synthetic...by Staff Writers | Jul 15, 2021 | Novonix Limited
NOVONIX LIMITED (ASX: NVX) is an integrated developer and supplier of high-performance materials, equipment, and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14...by Staff Writers | Jul 15, 2021 | Novonix Limited
Lake Resources Reports Positive Novonix Battery Results Lake Resources NL (ASX: LKE; OTC: LLKKF) yesterday reported that its high-purity lithium has performed strongly within Novonix’s lithium ion batteries. Novonix is seen by the market as a key battery and...by Staff Writers | Jul 15, 2021 | Novonix Limited
NOVONIX LIMITED (ASX: NVX) is an integrated developer and supplier of high-performance materials, equipment, and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14...
Terracom has counter-cyclically placed itself in a position to improve efficiency and margins plus pursue organic mine growth. Cashflows will further swell once currently depressed coal prices rebound. These assets appear undervalued compared to our Base Case $0.27/share NPV valuation of TER. TER has upside on management’s record of delivering new projects from currently controlled development assets and/or by opportunistically securing acquisitions.
Terracom has counter-cyclically placed itself in a position to improve efficiency and margins plus pursue organic mine growth. Cashflows will further swell once currently depressed coal prices rebound. These assets appear undervalued compared to our Base Case $0.27/share NPV valuation of TER. TER has upside on management’s record of delivering new projects from currently controlled development assets and/or by opportunistically securing acquisitions.
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Since August 1st, Kazia Therapeutics has announced US Food & Drug Administration fast track status for one program & orphan drug and rare paediatric disease designation for another, while finishing the period by announcing a new trial for its cancer drug, paxalisib. Over the next nine months investors are likely to see six data readouts from five programs. How fast can a company go?
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Sarepta Therapeutics’ (NASDAQ: SRPT) SRP-9001, a putative gene therapy (GT) for all Duchenne muscular dystrophy (DMD) patients has failed to demonstrate an improvement clinical function in a doubleblind, randomised, placebo-controlled phase II trial in 41 patients. This event significantly improves the commercial prospects Antisense Therapeutics’ DMD therapy, ATL1102.
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Lake Resources (LKE.AX) plans to develop its 100% owned 4.4Mt Kachi lithium deposit, located in Argentina, using Lilac Solutions Inc’s patented direct lithium extraction technology. Lilac’s flowsheet is simple and supports fast development of the upstream, which is often plagued by long lead times. Kachi emissions, water and waste footprints will be low with no mining or evaporation ponds required and its 99.97% battery grade lithium carbonate, which enables improved battery performance, should achieve premium pricing in a rising market. First production planned early 2024.
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Antisense Therapeutics’ lead drug sits at the nexus of two areas of drug development that are starting to grow dramatically in importance. One relates to its mode of action and the other to the type of drug it is. Combine that with management who know the drug very well and strong results in a trial in a horrible disease afflicting children, and you have the basis for true value creation.
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Since August 1st, Kazia Therapeutics has announced US Food & Drug Administration fast track status for one program & orphan drug and rare paediatric disease designation for another, while finishing the period by announcing a new trial for its cancer drug, paxalisib. Over the next nine months investors are likely to see six data readouts from five programs. How fast can a company go?
Please fill out our Kazia Therapeutics and Corporate Connect Research subscription form below. Once completed you will be able to download this CCR Report on Kazia Therapeutics. View our privacy policy.
Since August 1st, Kazia Therapeutics has announced US Food & Drug Administration fast track status for one program & orphan drug and rare paediatric disease designation for another, while finishing the period by announcing a new trial for its cancer drug, paxalisib. Over the next nine months investors are likely to see six data readouts from five programs. How fast can a company go?
Please fill out our Kazia Therapeutics and Corporate Connect Research subscription form below. Once completed you will be able to download this CCR Report on Kazia Therapeutics. View our privacy policy.
Lake Resources (LKE.AX) plans to develop its 100% owned 4.4Mt Kachi lithium deposit, located in Argentina, using Lilac Solutions Inc’s patented direct lithium extraction technology. Lilac’s flowsheet is simple and supports fast development of the upstream, which is often plagued by long lead times. Kachi emissions, water and waste footprints will be low with no mining or evaporation ponds required and its 99.97% battery grade lithium carbonate, which enables improved battery performance, should achieve premium pricing in a rising market. First production planned early 2024.
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Licensing deals are the life blood of small pharmaceutical companies, representing their exit from the development of a molecule, often in a staged manner, and a coalescing of the value they have added to a compound. Kazia Therapeutics has done two licensing deals in the space of a month, something unique for an Australian company. In this report, we look at those deals, assess their quality and look at other takeaways they provide.
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Kazia Therapeutics has licensed its ovarian cancer drug, Cantrixil, to Swedish drug company Oasmia Therapeutics (STO: OASM) for USD4m upfront, USD42m in milestones and a double-digit royalty on commercial sales. This is a positive event for Kazia and from the stand point of proving its deal making skills to the market.
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Paxalisib’s phase II trial in unmethylated MGMT promoter proven glioblastoma multiforme (uGBM) is as positive as a single arm trial can be, while the phase I trial in diffuse intrinsic pontine glioma (DIPG) enables paxalisib combination studies in the indication.
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That is three deals in two-months, with Kazia in-licencing EVT801, an oral, small molecule, first-in-class cancer drug candidate from Evotec SE (FRA:EVT; Market Cap (MC): €5.4b (AUD8.4b). Kazia gained exclusive global rights to the drug for €1m (AUD1.6m) upfront, €308m (AUD480m) in milestones and a tiered single-digit royalty on sales. Evotec, whose corporate strategy precludes taking drugs into the clinic, developed EVT801 with Sanofi (NASDAQ:SNY; MC:USD128.9b (AUD165.7b) meaning the provenance of the compound is impeccable. Kazia has slated EVT801 to start a phase I trial in 2HCY21. Another A+ deal by Kazia in our eyes.
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Immutep (IMM.AX) is one of the most promising drug developers listed on the ASX. A core competency is its unsurpassed understanding of the biology of the lymphocyte activation gene-3 (LAG-3) and the development of therapeutics based on that knowledge. In this report, we take a deep-dive into Immutep’s project pipeline. We look at major factors in oncology drug development and the broader market and how Immutep are likely to support the value of its lead asset, eftilagimod alpha (efti), currently in mid-late-stage clinical trials. Finally, we look at the company’s intellectual property and management, the latter being often overlooked by investors.
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Headwinds saw a management refocus – now tailwinds
TER is now generating positive EBITDA margins as it emerges from a difficult period that severely impacted their newly acquired South African coal operations. Its largest customer, power generator Eskom experienced maintenance issues across its generation portfolio resulting in reduced coal purchasing. Weather and depletion of Kangala mine also impacted unit costs. All these issues were compounded by the severe Covid-19 conditions that prevented much closer management control of operations.
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OLL’s platform enables the delivery of project-based, social learning to encourage interaction among users and nurture a community of collaborative learners. The platform provides a comprehensive learning environment for all types of online education, from short courses through to micro credentials and online degrees. Since incorporation, OLL has enabled education providers to deliver thousands of online courses through its platform to over 2.8m registered users worldwide who have made over 4.7m enrolments, making it one of the world’s largest online education platforms. At the end of 1Q 2021, OLL had 177 larger education providers on its platform.
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PayGroup (PYG) is a leading player in the Business Processes Outsourcing (BPO) and Human Capital Management (HCM) markets in the Asia-Pacific. The following points are key elements of the investment thesis for PYG.
They deliver multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. Multi-country service has been a core growth driver, and PYG can offer Asia- Pacific coverage to US/EU partners to construct global BPO/HCM solutions.
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Antisense Therapeutics has received formal written feedback from the US Food and Drug Administration (FDA) on its development plans for ATL1102 for non-ambulant patients with Duchenne muscular dystrophy (DMD). In a phase II trial, ATL1102 performed extremely well. The regulatory path for a disease like DMD can be simplified and shortened. To achieve this outcome, though, determining the requirements of regulators is paramount.
NOVONIX (NVX) announces strategic investor Phillips 66 (PSX) has entered into an agreement with NVX to acquire 77.9m new shares for US$150m (A$203m). PSX is the worlds largest producer of speciality petroleum coke a precursor for battery grade synthetic graphite anode materials found with an Enterprise Value of US$47.5Bn and assets of US$57Bn. Post investment, which is subject to shareholder approval, PSX will hold 16% of the expanded capital base of NVX and will have a Director nominated to the NVX Board. Given the Board, management and staff hold close to 50% of the NVX register, we consider it highly likely that shareholders will approve this transaction.
Terracom has counter-cyclically placed itself in a position to improve efficiency and margins plus pursue organic mine growth. Cashflows will further swell once currently depressed coal prices rebound. These assets appear undervalued compared to our Base Case $0.27/share NPV valuation of TER. TER has upside on management’s record of delivering new projects from currently controlled development assets and/or by opportunistically securing acquisitions.
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A new chapter is opening in Australia’s rich history of mineral endowment, as an emerging group of producers bring on-stream deposits of organic sulphate of potash (SoP), a premium fertiliser product. Trigg Mining (TMG) is a WA-based exploration company specifically focussed on the potassium mineral fertiliser Sulphate of Potash (SOP).
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We initiate coverage on Calima Energy (“Calima” or the “Company”) on a free cash flow (“FCF”) basis with a value of AUD0.025/share.
Calima is an Australian listed exploration and production (E&P) company, and a Canadian oil and gas pure play. Its assets include a large-scale liquids rich gas play in the Montney fairway in British Columbia, a well-established oil and gas producing region with a supportive energy production policy.
On April 30, 2021, Calima completed the acquisition of Blackspur Oil (“Blackspur’). Blackspur was caught out in a poor oil environment while laden with a heavy debt burden and Calima was able to capitalise on the opportunity, acquiring the target at a deep discount of C$61.5m, including C$40.0m in debt. This is against over C$200m invested by Blackspur since inception in 2012. The acquisition is earnings accretive and has raised Calima’s status to the realm of a mid-tier, ASX-listed oil producer.
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Lake Resources (LKE. ASX) announces low cost funding pathway Normally, an offtake contract is signed first and then project funding follows. However, in this case the reverse has occurred. The Export Credit Agency (ECA) of Britain, the UK Export Finance (UKEF) has provided a non-binding Expression of Interest (EOI) to provide or underwrite up to 70% of the finance for developing Kachi. Interestingly, the ECA has also indicated it could provide up to 70% of the cost of expanding Kachi. This really does support LKE’s earlier claim that the market is pushing for an expansion of Kachi. ECA debt normally comes in the form of guarantees. However, the EOI suggests the ECA may also direct lend; subject to due diligence and standard project finance terms. LKE suggests direct lending could comprise ~30% of Treasury linked debt with interest rates of around 3%. ECA guarantees should facilitate the completion of syndicated senior debt, at an estimated 5-6% in the current market. The effective “credit wrap” provided by ECA support, puts LKE in an attractive position to secure a Tier-1 offtake partner.
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Lake Resources (LKE. ASX) announces that its clean technology partner Lilac Solutions Ltd (Lilac), will join the Argentinian Kachi project, earning up to 25% at the asset level, subject to performance hurdles. Lilac brings a patented new untried technology to the lithium brine industry. However, offtakers and some investors perceive new technology risk to be a drag on project timelines. Addressing this, Lilac will take a direct participation in Kachi, which is testament to their belief in their patented ion-exchange technology, which although new to the lithium industry has been used extensively in the water and uranium industries. Lilac believes the time is right to investigate sustainable extraction technology in an area that produces 40% of the world’s lithium.
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