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    30 August, 2023

Happy hump day!

A great market update from our portfolio company ASX:BCC.

Record revenues and growing margins – exciting times ahead.

Read more below.

Across Markets…

The Australian sharemarket rose 1.2 per cent, or 87.2 points to 7297.7 at the closing bell, after July inflation cooled more than expected, taking further pressure off the Reserve Bank of Australia to raise the cash rate next week.

A sharp rally in the materials and industrials sectors pushed the ASX higher on Wednesday. 

BHP Group rallied 1.5 per cent and Rio Tinto added 2.1 per cent.

Interest rate sensitive real estate stocks climbed off the back of the CPI news. Goodman shares advanced 1.2 per cent, Mirvac jumped 1.7 per cent and Lendlease increased 1.8 per cent,

In another day of company earnings, Brambles rose 7.1 per cent after the pallets producer lifted its final dividend.

Chalice Mining shares cratered 25.2 per cent and was among the worst performers on the ASX, after the company used high commodity price assumptions in a scoping study.

Retailer City Chic dropped 4.4 per cent when it posted a 17.2 per cent slide in sales to $268.4 million in fiscal 2023.

Crypto prices surged overnight after a US court ruling on the right to launch a bitcoin exchanged-traded-fund fuelled speculation the decision could unlock billions of dollars of investment into the world’s largest digital currency.

Bitcoin added 6 per cent to $US27,564 ($42,801) after investment manager Grayscale won its appeal against the US Securities and Exchange Commission to reconsider its application to list a bitcoin fund on public exchanges.

A slew of other digital currencies including Ethereum, Cardano, and Solana also gained more than 5 per cent on the news.

Source: AFR


Pic of the day

Local Equity News

Satellite applications and services specialist Beam Communications (ASX: BCC) is confident it will continue its current record run of business success with further growth expected over the current financial year.

The company has revealed record levels of returns across a number of metrics including revenue, net profit and earnings before interest, tax, depreciation and amortisation (EBITDA) in its results for the financial year ended 30 June 2023.

With all of its business arms contributing to its growth as the global market for mobile satellite solutions expands, Beam’s group revenue jumped by 67% to $40 million, while EBITDA leapt by 189% to $4.3 million and net profit after tax (NPAT) increased to $2.1 million, a big turnaround from a net loss of $176,805 in the previous year.

Beam’s managing director, Michael Capocchi, is confident that the positive momentum generated in FY23 will continue through the current financial year.

He said recent business activity has highlighted the transformation of Beam’s earnings profile as the business builds significant scale with new offerings and partnerships.

Beam is predicting double digit FY24 EBITDA growth with further margin expansion due to the favourable change in its product mix.

CLICK HERE TO READ MORE

Source: Small Caps

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Recent Peak Deals

Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.14 Unchanged

Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.14 Unchanged 

Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.0085 -5.56%

Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO 
Today’s Price Change: $0.026 Unchanged

Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011 
Today’s Price Change: $0.009 Unchanged

Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.02 with a 2:3 CDTOA 
Today’s Price Change: $0.0105 +5.00%

Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 AEVO
Today’s Price Change: $0.01 Unchanged

Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO 
Today’s Price Change: $0.05 -1.96%

Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
Deal Type: IPO
Raise Amount: $5.7M
Latest Entry Price: $0.35 with a 1:3 AS2O
Today’s Price Change: $0.23 +2.22%

Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.004 with a 1:1 option
Today’s Price Change: $0.003 Unchanged

Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.037 +2.78% 

Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.013 Unchanged

Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.67 +8.94%

Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.031 -3.13%

Company: Carly Holdings Ltd (ASX:CL8)
Sector: AI and Car subscription
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.025 with a 1:2 CL8O
Today’s Price Change: $0.022 -8.33%

Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD

Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.006 with a 3:2 AVEOA
Today’s Price Change: $0.007 Unchanged

Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.022 Unchanged

If you would like more information on future Peak deals, please don’t hesitate to get in touch.


The trustee for Peak Asset Management Unit Trust (“Peak”) is a corporate authorised representative (#1295491) of Dayton Way Securities Pty Ltd (AFSL #382585).
 
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs.  Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances.  If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au  or by telephoning Peak on 1300 304 460 

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