Plenti Group Limited                   

Decent Topline Performance: Plenti Group Limited (Proposed ASX Code: PLT) provides a technology-led consumer lending and investing platform in Australia, which is focused on lending to creditworthy borrowers with secured automotive loans, renewable energy loans, and personal loans. The company has recently lodged a prospectus for an upcoming IPO on the ASX.

Offer Details: The offer is seeking to raise $55 million via the issue of 33,132,530 shares at an offer price of $1.66 per share. Post the completion, the company is likely to have an indicative market capitalization of $280.3 million. The holding statements are expected to dispatch on 18 September 2020 on the completion of the offer, and the shares are expected to trade on ASX on 23 September 2020. The proceeds from the offer will fund the company’s growth prospects in the Warehouse Facility and in its loan book. It is also likely to provide a liquid market for the shares and will accelerate its growth.

Performance Highlights: Plenti Group Limited is a growing technology-led consumer lending and investment business, which has funded ~$870 million of loans to over 55,000 borrowers and has ~$400 million of outstanding loans. The growth has been achieved by maintaining a strong credit performance. It has a decent track record of driving growth and has achieved CAGR of over 60% in revenue from FY18 to FY20. Over the span of 2 years from FY18 to FY20, net income of the company has increased from $15.8 million to $39.92 million.

FY20 Financial Highlights (Source: Company Prospectus)

Outlook: The company seems to be well-positioned to grow strongly by leveraging its technology platform and the strong foundations across borrower experiences, borrower introducer network, funding diversity and credit risk management capabilities. The company is anticipating a large market opportunity and retains a clear growth strategy.

Miramar Resources Limited

Highly Prospective Gold Projects: Miramar Resources Limited (Proposed ASX Code: M2R) is engaged in the exploration of gold in Western Australia. The projects of the company are divided into three project areas, namely, Eastern Goldfield region, Murchison region and Gascoyne region.

Offer Details: The company is offering 25 million shares at an issue price of $0.20 to raise $5 million (minimum Subscription). It also has a right to oversubscribe of up to 15 million shares at an issue price of $0.20 to raise up to a further $3 million. The company has appointed Shaw and Partners as the lead manager of the offer. The offer was opened on 12 September 2020 and is estimated to close on 25 September 2020. The company is likely to be quoted on ASX on 14 October 2020. With the completion of the offer, the company is likely to have a market capitalization of the $14.70 million. The proceeds will be used for exploration activities for minerals and development programs, funding other working capital requirements, including securing the grant of existing tenement applications, identifying potential new application areas, general administration, and operating costs.

Financial Highlights: As on 30 June 2020, the company reported a loss of $189,516 and used $82,829 of cash in operating activities. During the year, the company reported a cash balance of $327,771.

FY20 Financial Performance (Source: Company Reports)

Outlook: The company is focused on seeking growth strategy and is aiming at further exploration opportunities which complement the company’s precious metals. It retains highly prospective gold projects, which is likely to drive further growth opportunities.

Decline in Losses: Pathfinder Resources Ltd (Proposed ASX Code: PF1) is a base metals exploration and development focused company headquartered in West Perth, Western Australia. The company is systematically exploring to develop the King Tut Project.

Pathfinder Resources Ltd

Offer Details: The company has recently issued a prospectus and is seeking to raise $5 million through the issue of 25 million shares at an issue price of $0.20 per share. Th company may accept oversubscriptions of up to 5 million shares at an issue price of $0.20 per Share in order to raise up to an additional $1 million. This offer was opened on 8 September 2020 and is likely to close on 22 September 2020. The company is likely to dispatch the holding statements on 9 October 2020 and is expected to be quoted on ASX on 14 October 2020. The proceeds of the offer will provide funds to implement the company’s business strategies, exploration and development of the King Tut Project, repayment of debts owing to creditors, etc.

Financial Highlights: During 1H20, the company reported a fall in loss from continuing operations and saw an increase in total assets to $339k, up from $327k in FY19.

1H20 Financial Highlights (Source: Company Reports)

Outlook: Looking ahead the company is focused on further exploring and developing the King Tut Project in accordance with the company’s intended exploration programs. The company will continue to pursue acquisitions that have a strategic fit for the company.

Disclaimer  

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as personalised advice.