Altura Mining Ltd


AJM Details

Grant of Pilgangoora mining leases: Altura Mining Ltd (ASX: AJM) has been granted mining leases M45/1230 and M45/1231 for the Pilgangoora Lithium project by the Western Australian Department of Mines and Petroleum (DMP). The group has also lodged mining proposals for the above with the DMP for assessment. AJM and Pilbara Minerals recently signed two agreements, a Joint Access Agreement and a non-binding Memorandum of Understanding (MOU), formalizing a framework for ongoing cooperation between the two companies in the development of their adjoining lithium-tantalum deposits. AJM has deposit immediately adjoining Pilbara’s Pilgangoora Lithium-Tantalum Project to the south-west and the proximity of the two projects offers numerous opportunities to unlock logistical, operational and strategic synergies with the potential to deliver benefits to both companies.
 

Pilgangoora FS Project Details (Source: Company Reports)
 
Moreover, AJM has acquired the first significant long lead capital item that would be an integral component of the process plant. AJM has identified plans for other long lead capital item opportunities to secure further items in the near future and the Pilgangoora Lithium Project is on track for Q4 2017 production timeline. Meanwhile, AJM stock has risen 16.67% in the last six months (as of September 06, 2016) and we still maintain our “Buy” recommendation on the stock at the current price of $0.15
 

AJM Daily Chart (Source: Thomson Reuters)
 
Norwood Systems Ltd


NOR Details

Building sales pipeline: Norwood Systems Ltd (ASX: NOR) has launched Corona Cloud & Corona GTS services publically as a Beta. Both have a strong forward looking sales pipeline, as corporate clients could realize potential savings of up to 25-50% off phone bills. The planned expenditure budgets have been set for remainder of FY17 after the $3.5 million capital raising closing prior to 30^th June 2016. Moreover, the World Phone downloads and revenue continue without the significant digital marketing spend, as NOR is focusing on Corona corporate and Europa carrier OTT platform sales in the coming quarters. The new product R&D, principally focused on World Wi-Fi and World Message, is continuing with the development on track with one of the principal developments of partnering with Devicescape on World Wi-Fi. We give a “Speculative Buy” recommendation on the stock at the current price of $0.019
 

NOR Daily Chart (Source: Thomson Reuters)
 
Ziptel Ltd


ZIP Details

Loss recorded partly at the back of investment: Ziptel Ltd (ASX: ZIP) reported FY16 total revenue increase of 53% to $762,388 against the corresponding period last year. ZIP has reported the loss after tax of $14,009,805 as compared to FY2015 loss after tax of $5,687,639 due to investment in the Zipt platform and mass user acquisition campaigns for ZIP in key markets. Notably, a large component of the loss is attributable to non-cash share based payments of $8,479,391. However, the anticipated deployment of the SpeedTalk application, the first enterprise application of the ZIP’s low bandwidth communications technology, would have an impact on the group’s overall performance going forward. Additionally, Zipt was selected by Samsung as a Marquee App for Tizen Developers to deliver Tizen version of Zipt for August 2016 handset launch. Meanwhile, ZIP stock has fallen 64.04% in the last six months (as of September 06, 2016) placing them at attractive levels. Accordingly, we give a “Speculative Buy” recommendation on the stock at the current price of $0.15
 

ZIP Daily Chart (Source: Thomson Reuters)
 
Pulse Health Limited


PHG Details

Strong FY16 result: Pulse Health Limited (ASX: PHG) had earlier indicated that Ben Thynne and Andrew Savage, the principals of Evolution Healthcare (a private hospital operator in Australia and New Zealand) had acquired between 10 per cent and 11 per cent of the shares in PHG. In addition, PHG had terminated the acquisition of Waikiki Private Hospital and Westminster Day Surgery (WA Assets) as there was no earnings contribution from WA Assets which was expected to be included in Pulse Health’s FY16 according to the earnings guidance announced on 25^th May 2016. WA assets were forecasted to deliver $1.6 million of the incremental FY17 EBITDA of $6.4 million from the acquisitions as per 7^th December 2015 announcement. However, PHG acquired Boulcott Hospital in New Zealand which would be funded by the current cash reserves of the company. PHG has also commissioned Gold Coast Surgical Hospital wherein five out of a total six theatres have opened all 24 beds instead of the previous plan of gradual commissioning of theatres and ward beds.
 

Financial Result (Source: Company Reports)
 
The company’s revenue for FY16 is up 29% driven by established hospitals revenue. Underlying EBITDA and NPAT have grown 37% and 14% respectively. We give a “Speculative Buy” recommendation on the stock at the current price of $0.30
 

PHG Daily Chart (Source: Thomson Reuters)
 
Senetas Corporation Limited


SEN Details

Strong FY16 NPAT Growth: Senetas Corporation Limited (ASX: SEN) reported for a robust increase of 30% in FY16 Net Profit After Tax to $5,218,000 over FY15 even when the R&D expenses have been high. The operating revenue has moved up by 19%. Moreover, the second half of FY 16 reflected better progress on the integration of Senetas' former global distributor SafeNet with Gemalto, which is almost complete now. SEN stock has fallen 19.23% in the last six months (as of September 06, 2016), and based on the potential, we give a “Speculative Buy” recommendation on the stock at the current price of $0.105
 

SEN Daily Chart (Source: Thomson Reuters)
 
Rubik Financial Limited


RFL Details

Expansion in Pakistan and Middle East:Rubik Financial Limited (ASX: RFL) reported revenue growth of >10% for fourth consecutive year while underlying EBITDA jumped up by more than 30% against 20% target.
 

Revenue Share by products (Source: Company Reports)
 
On the other hand, RFL has signed an agreement with Bank Alfalah, one of the leading banks in Pakistan, to implement its collections platform, CWX. The agreement will bring the total to 5 out of the top 7 banks in Pakistan using CWX and would reinforce the company’s market leading position in collections software in many Asian and Middle Eastern countries. RBL also partnered with leading banks in both Dubai and Abu Dhabi. Meanwhile, RFL stock has risen 9.52% in the last six months (as of September 06, 2016) and we believe the positive trend would continue in the coming months. Accordingly, we give a “Speculative Buy” recommendation on the stock at the current price of $0.13
 

RFL Daily Chart (Source: Thomson Reuters)

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