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It is conventional wisdom that the Australian share market is largely comprised of mature businesses with a particular emphasis on financials and resources. Happily, if you explore beyond the stocks covered by the larger brokers it becomes obvious that this is not the case and that...

After several years of underperformance, investors were initially attracted to the better valuations which were available in Small Caps. However more recently there has been a noticeable improvement in risk appetite. This has added fuel to the rally with investors taking comfort from the almost...

Why have small caps been performing so strongly? Do you expect this to continue, and why? After several years of underperformance investors were initially attracted to the better valuations which were available in Small Caps. However more recently there has been a noticeable improvement in risk...

Recent broker reports have highlighted that the Australian Small Cap market is beginning to look stretched from a valuation perspective. The chart below tracks the average P/E ratio of the Small Cap market over time and clearly shows that it is currently at elevated levels. Forward P/E...

Pacific Energy (PEA) announced an additional 11 Megawatts of power generation capacity for their Western Australian Pilgangoora lithium project this week. The award takes year-on-year growth to 8.0%, with a good chance of further contract awards in the near term. PEA’s take-or-pay contract structure offers...

Today’s third quarter update highlights a pick-up in momentum with third quarter revenue growth of 39% compared to second quarter growth of 13.4% and first quarter growth of 6.0%. Indicators from March were also strong with a 44% lift in tools on hire foreshadowing strong...

n early March I travelled through China and Japan to get a better feel for the staying power of the recent commodities rally. Feedback from a range of steel, copper, iron ore, nickel, gas and coal companies was skewed to the positive, with commodities demand...

Earnings updates from domestic companies were limited during April and continue to be so in May given the six monthly earnings cycle. However, investors can still draw on the quarterly reports from offshore companies to pick up trends which may influence stocks closer to home. An...

The value add from successful exploration efforts in the mining space can be tremendous. A recent acute example is the Nova nickel discovery by Sirius Resources (SIR). This discovery took a $0.06 per share exploration company to $3.79 per share on the day of takeover...