a2 Milk Company Ltd

A2M Details

Recently, a2 Milk Company Limited (ASX: A2M) has updated that in response to continuing strong demand for a2 Platinum® infant formula, a2MC had been working closely with its infant formula manufacturing partner, Synlait Milk, to uplift the production schedule for the remainder of FY17. Based on a review of its unaudited financial results to 31 May 2017, and production deliveries of a2 Platinum® infant formula being achieved in June consistent with the revised production schedule, the Company’s revenue is now forecast to be approximately NZ$545 million for the 2017 fiscal year, an increase of approximately NZ$20 million on the previous update. A2M stock has rallied over 83% in the last six months (as on July 11, 2017) and is now trading at a higher level.We maintain an “Expensive” recommendation on the stock at the current price of $3.77
 

A2M Daily chart; (Source: Thomson Reuters) 

Sandfire Resources NL

SFR Details

Sandfire Resources NL (ASX: SFR) has announced the update on its Joint Venture (Sandfire: 70%; Talisman Mining: 30%), that it has secured the key environmental approval required to allow site-based development activities to commence at the new Monty Copper-Gold Project, located 10km east of the DeGrussa Copper-Gold Mine in WA. The approval of the Company’s Mining Proposal and Mine Closure Plan for Monty authorizes the Joint Venture to commence ground-breaking and mining activities at Monty and follows the recent award of the first major contract for the project’s development. The $8.2 million contract, for civils and earthmoving works, was awarded last month to the Yagahong Alliance, a joint venture between the Geraldton-based earthmoving and civil contracting company Central Earthmoving and the Yugunga-Nya People. The Yagahong Alliance will now commence construction of the 14km long haul road from Monty to DeGrussa and the box-cut for underground access. Further, cutting of the decline portal for the new underground mine is expected to commence in the December quarter of this year and underground development is expected to take approximately one year to access first ore.We maintain an “Expensive” recommendation on the stock at the current price of $5.90
 

SFR Daily chart; (Source: Thomson Reuters)

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