Whitehaven Coal Ltd

WHC Details
 
Improving cash flow and production to partly offset coal prices pressure: Whitehaven Coal Limited (ASX: WHC) shares plunged over 50.00% in the last six months and fell over 28.87% (as of December 24, 2015) in the last four weeks on the back of impact from falling coal prices. On the other hand, the group is focusing on its costs and production, and estimates a profitable EBITDA in the range of $100 million to $105 million for the first half of 2016, which is double the EBITDA as compared to the prior corresponding period (pcp). WHC expects its cash margin performance to be more than $13 per tonne margin of FY15 enabling the group with better cash flow and reduction in net debt for fiscal year of 2016. Whitehaven upgraded ROM coal production to 19.5mtpa to 20.1mtpa for FY16, against the earlier guidance of 18.8mtpa to 19.4mtpa, which could mitigate the pressure from the falling coal prices to a certain extent. The group also got NSW Department of Planning and Environment’s approval to enhance annual production from 8mtpa to 11mtpa in Narrabri mine.
 

Long term sales prospects (Source: Company Reports)
 
We believe that the heavy correction placed WHC at cheaper valuations, while its efforts to control costs might add support to a better EBITDA in the coming periods. Accordingly, we give a “Speculative Buy” on WHC at the current price of  $0.71
 
 
WHC Daily Chart (Source: Thomson Reuters)
 

Mint Payments Ltd

MNW Details
 
Enhancing earnings potential via new agreements: Mint Payments Ltd (ASX: MNW) made three agreements with a global leader in payment technology and services solutions enabling MNW to enhance its potential revenues and cash receipts. As a result, the group’s stock surged over 24.62% (as of December 24, 2015) in the last four weeks alone. Based on the agreement, the partner would distribute the group’s mobile point of sale (mPOS) solution to the partner’s network of resellers and merchants with which MNW would be able to generate a recurring monthly fee per user from the merchant and a share of the transaction fees. This further covers providing MNW with a new acquiring agreement for its card-present and card-not-present payment solution. The international payment provider would also be the transaction-switching provider for the group enabling the group to offer its services for financial institution or enterprise merchant connected to the partner’s payment processing network.
 

Enhancing business via adding partnerships (Source: Company Reports)
 
We believe there is positive momentum in the stock given MNW’s recent disclosure about new partners signing onto payments platform, which is expected to drive key operating metrics in FY16 and FY17. Accordingly, give a “Speculative Buy” recommendation at the current price of  $0.094
 
 
MNW Daily Chart (Source: Thomson Reuters)
 

iCar Asia Ltd

ICQ Details
 
Strong presence in Asia: iCar Asia Ltd (ASX: ICQ) has built a strong presence in Malaysia, Indonesia and Thailand and recently reported that its Mobil123.com site penetrated more than 20% of the addressable market pay up?front in its first month alone. Accordingly, ICQ estimates a strong contribution from its Indonesia regions and expects an EBITDA profit by fourth quarter of 2017. Meanwhile, carsales.com acquired over 20% of stake in iCar Asia in view of ICQ’s strong market opportunity and presence in Asia. The group’s cash receipts surged 146% year on year (yoy) to $4.36 million during third quarter of 2015, and reported a profitable Thailand operations EBITDA during the quarter. ICQ forecasts a profitable EBITDA for Malaysia by the end of the year.
 

Performance in First half of 2015 (Source: Company Reports)
 
ICQ shares surged over 31.79% in the last three months alone (as of December 24, 2015) and we believe the stock is worth considering given the ongoing penetration across the above regions. Based on the foregoing, we give a “Speculative Buy” recommendation on the stock at the current price of  $0.985
 
 
ICQ Daily Chart (Source: Thomson Reuters)
 

Dyesol Ltd

DYE Details
 
Boosting Capital Position: Dyesol Ltd (ASX: DYE) has been raising funds to manufacture on a mass scale and recently raised over $8.1 million with over $ 6 million through the Share Purchase Plan from eligible DYE shareholders and PAC partners to fund its Perovskite Solar Cells (PSC) technology’s commercialization activities. Management reported that its technology development as well as its business activity plans are on track. The group estimates a reasonable opex rate of over $6 million to $7 million per year post major ATO R&D Rebate claim during fiscal year of 2016. The group is confident to receive more funds from Australian, European and Turkish grant programs.Meanwhile, PSC PV technology has the potential to be a disruptive technology having the prospect of achieving major competitive energy costs.
 

Commercialization pathway (Source: Company Reports)
 
Dyesol shares surged over 26.09% (as of December 24, 2015) in the last three months and we give a “Speculative Buy” recommendation on the stock at the current price of $0.29
 
 
DYE Daily Chart (Source: Thomson Reuters)
 

Reffind Ltd

RFN Details
 
Building customer base: Reffind Ltd (ASX: RFN) continues to expand its client base and recently signed four major clients (Clayton Utz, Health Connex, ME Bank and Best IT Engineering) in Australia to boost internal referrals for new hires. RFN is also trying to extend its penetration in New Zealand market and recently added two more clients.
 

Reffind Ltd customer profile (Source: Company Reports)
 
The group is aggressively expanding in the US markets via direct and channel strategy with 15 paying embrace customers. RFN is expanding via direct market strategy in Singapore and also made a reseller arrangement in Hong Kong. RFN stock recovered over 14.04% in the last five days while soaring 150% in 2015 (as at December 24, 2015). We believe that this is “Speculative Buy” option at the current price of  $0.60
 
 
RFN Daily Chart (Source: Thomson Reuters)
 

ClearView Wealth Ltd

CVW Dividend Details
 
Strong life insurance businesses: Clearview Wealth Ltd.’s (ASX: CVW) Life insurance division’s investments have been paid off as the segment’s in-force premium surged by 32% yoy in fiscal year of 2015, while life new business rose by 26% yoy. Life Insurance UNPAT improved by 41% yoy, driven by increasing underlying in-force portfolios. As per the wealth segment business, funds under management rose by 15% with $112 million of net flows. With regards to the Financial Advice division, the Adviser numbers increased by 89% while premiums under advise rose by 99% and FUMA enhanced by 92% in FY15.
 

 Business segments’ performance (Source: Company Reports)
 
The group also finished the starting phases of J Curve investment strategy. Meanwhile, the shares of CVW increased over 5.79% in the last five days (as of December 24, 2015) on speculations about the group pursuing sale alternatives, while the group did not confirm the same. Also, Clearview Wealth management estimates a better fiscal year of 2016 performance, partly driven by the recent life insurance reforms coupled with a better wealth management business estimates. We give a “Speculative Buy” on this stock at the current price of  $0.94
 
 
CVW Daily Chart (Source: Thomson Reuters)

---

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 currently hold positions in:  BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
Copyright
Copyright © 2014 Kalkine Pty Ltd ABN 34 154 808 312. No part of this website, or its content, may be reproduced in any form without the prior consent of Kalkine Pty Ltd.
Kalkine is a trading name of Kalkine Pty Ltd ABN 34 154 808 312, which holds Australian Financial Services Licence No. 425376.

---