Platinum Asset Management Limited

PTM Details

During May 2017, Funds under Management grew by 1.8% month on month to $23.9 billion against 3.4% in April 2017. Recently, the company announced new Exchange Traded Managed Funds (“ETMFs”) and changes to product fees. The group will launch two Exchange Traded Managed Funds (ETMFs) in August 2017 as part of the strategy to help investors to access Platinum’s International and Asian equity strategies via the ASX. These new products will be structured as feeder funds into the existing unlisted Platinum International Fund and Platinum Asia Fund respectively, therefore they will have the same portfolio composition, portfolio managers and investment strategy as the underlying funds. The group has lowered the standard management costs on the Platinum Trust Funds and Platinum Global Fund from 1.5% to 1.35% pa to benefit clients with regards to channel choice and price options. However, the current fee and cost reductions will not have impact on 2017 revenues or profit as will not come into effect until on or about 3 July 2017, but are expected to lower PTM’s 2018 revenue. We expect that the company to regain the momentum driven by improving operational efficiencies and long-term efforts to drive the overall funds’ performance, and maintain a “Buy” recommendation on the stock at the current market price of $4.91


PTM Daily chart; (Source: Thomson Reuters) 

Galaxy Resources Limited

GXY Details

Galaxy Resources Limited (ASX: GXY) has announced first assays from its 2017 drilling campaign at James Bay lithium pegmatite project in Quebec, Canada. In late March, Galaxy’s James Bay team commenced a ~31,000m diamond drilling campaign to extend and develop the existing James Bay resource. Additionally, Phase-1 (20,245 meters) was completed and the drill program has shown the resource to be open at depths below -100m, while the existing recoverable resource was reported to an average of -110m (maximum -200m) below surface. Further, the Phase-2 drilling program is ongoing and expected to be completed by the end of July 2017.

The James Bay Pegmatite swarm is located at 2 kilometers south of the Eastmain River and 100 kilometers east of James Bay. The property is accessible by paved road from the James Bay Road (highway) which cuts through the property close to the 381km road marker on the highway Route/109 from Val d’Or, Quebec, Canada. The James Bay Lithium project is located 1,850 road kilometers from Montreal and 1,650 road kilometers from Québec City. We believe that the long-term demand prospects are still optimistic, and maintain a “Hold” recommendation on the stock at the current market price of $2.10


GXY 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 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 advice or recommendations.