Reports for both Cooper Energy (COE) and Calix Limited (CLX) by some analysts are predicted to have a 100% share price increase over the next 12 months. Neither pay dividends and both are small cap shares.
Our long-term selections also lost 1% in value during October. Leading on this portfolio is Margaret W with selection of NXT in positive territory. Our Bendigo 11 sector Watch list is still 12% down on the February purchase prices.
After the break – Liontown (LTR) was reviewed as last meeting we predicted Gina Rinehart would upset the offer of $3.00 per share by American Co. Abermarle, which proved correct. Gina acquired 19% of LTR shares which gave her a seat on the board. Abermarle withdrew their bid which caused the LTR share price to fall from $3.00 to $1.60. Bell Potter came forward in with an underwriting to cover a $400m debt, so LTR can now complete their project with the input of Gina and her Hancock Resources.
Azure Minerals, AZS – up 45% since October 23rd and 1,200% for the year as SQM from Chile mounted a take-over offer. Gina Rinehart stepped in and purchased 19% of shares. Will SQM abandon their offer? Gina has displayed her faith in Lithium production.
The subject changed to world events and safe investments, taking into account the $250,000. Government guarantee on Bank investments.
We finished this section by viewing Westpac and the $7.2b profit and 70c dividend announced on the day.
Our Short-term selections also lost 1% for the month. Three members changed selections hoping for a turnaround in the next 4 weeks. Good Luck. Two shares; Wildcat Resources (WC8) and Deep Yellow Limited (DYL) have had gains of approx. 80% in the last 4 months.
John Hanlon and Malcolm Sanders