Emerge operated MIGGSTER platform achieves 150,000 subscribers and is set for growth
[I hold SBM shares. This presso gives a good overview of the company and the investment proposition.]
02-Mar-2021 (6:18pm): MIN Presentation at JP Morgan Global High Yield Conference
Mineral Resources (MIN) is a company I have held at various times and done very well out of. They look expensive to me currently, but many, including Guarav Sodhi from Intelligent Investor and Mark Moreland from TeamInvest believe MIN are the best run and highest quality mining services contractor listed on the ASX, and own them - even ast current prices. I wish I did, but I can't bring myself to pay these prices.
2 March 2021
From the Interview with Marcus Bogdan from Blackmore on livewiremarkets.
"CSL was the most intriguing result in the reporting season. It delivered a result that was about 20% above forecast, but they were very, very cautious on their forward outlook, maintaining guidance of 3-8% net profit growth.
We do think that they will ultimately upgrade that guidance, but I thought it'd be interesting to just talk through some of the drivers in CSL, given that it's been a doyen of Australian investors' portfolios for a number of years. And the business is really in two parts.
The largest component is plasma therapies, and that has got long term growth prospects of around 8-10%. The pipeline is very strong, but what's happened in COVID is it's the supply of plasma through collection centres, the largest market being the United States, has been constrained, and that has put pressure on that business, but there's a number of offsets that they're using to support that market. One is that they've got excess inventory. Two, the regulator has allowed a holding period to be reduced, and three, they're also seeing quite significant price rises in that market.
We expect that that market will remain challenged for the next few months, but as the vaccine is further rolled out, particularly in those Northern Hemisphere countries, in particular the US, we will start to see people coming back to collection centers, donating plasma, and helping with supply there. The second part of their business, which has been a huge beneficiary of the pandemic, has been their vaccine business. There has been unprecedented for flu vaccinations, not only in Australia but also in the Northern Hemisphere, in the winter that they've just come through.
But also our channel checks of CSL is that the future demand for the next flu season in the Northern Hemisphere has been unprecedented again. So, we'll start to see both a further uplift in volumes for their flu business, and also the mix of their product range will also see a range of price increases there. So, we remain very constructive of CSL in the portfolio. We've recently added to our position there as the prices have been weaker, and we think it remains a core portfolio stock.
SBM have appointed MAH as their new underground mining contractor at their flagship Gwalia mine in WA, replacing Byrnecut, a private company who has been providing that service for many years. In their report last week (Tues 23-Feb-2021), Macmahon talked about their huge tender pipeline, and it is reasonable to expect them to win a fair percentage of those tenders, particularly with gold miners (like SBM), as Macmahon are now the leading listed gold mining contractor in Australia, both for underground (UG) and open pit (OP) mining. I hold SBM and MAH shares. MACA (MLD) and NRW Holdings (NWH) are the other two listed gold mining specialists, but the two with the highest percentage of gold miners as clients (as a percentage of their total revenue, meaning the vast majority of their revenue is derived from gold mining) are MAH & MLD.