Equity Research Coverage Reports

Axiom Mining Limited (ASX: AVQ) - World Class Nickel Project - Solomon Islands - Securing Off-take Agreement
Tuesday, September 29, 2015
While in the early stages of development, the Isabel Nickel Project provides significant upside value for the company, based on the cost and production estimates delivered in the Scoping Study for the initial mining operation.
Download Report
AHAlife Holdings Limited (ASX: AHL) - US Based - Luxury Online Marketplace - Proprietary Technology Platform
Wednesday, September 2, 2015
AHAlife Holdings, Inc. (ASX: AHL) was founded in September 2010, in Manhattan, New York and provides a curated online marketplace (www.AHAlife.com) that sells premium high-end home and design, accessories, and beauty products produced by independent designers and artisans.
Download Report
US Masters Residential Property Fund (ASX:URF) - Portfolio Value Continues To Rise - Healthy Balance Sheet
Monday, May 11, 2015
The Fund has continued to expand its property portfolio albeit at a slower pace than previous years. The Fund has largely done this with equity raised to date. In the 2H’2014, the Fund expanded its bank borrowings by US$90m and raised $150m through the issue of unsecured notes.
Download Report
US Masters Residential Property Fund (ASX: URF) - FY15 Results - Revenue & Profit Increases
Wednesday, February 11, 2015
Revenue was up 62.7% in FY15 on the pcp, largely as a result of significantly improved rental income of $22m, up 58.6% on the pcp and slightly above our forecast rental income of $21.3m.
Download Report
Codan Limited (ASX: CDA) - Metal Detection Devices/ Other Communication Tech - Results Jan 16 - Revenue Down But Profit Up
Monday, January 12, 2015
1H’16 revenue was $65m, down 4.8% on the pcp, primarily as a result of the decline in revenues from the Radio Communications division. Despite the decline in revenue, gross profit improved to 54.5% from 52.7% in the pcp. EBITDA and net profit also improved. EBITDA was up 7.3% to $14.7m and net profit was up 8.9% to $6.1m, year on year. EBITDA margins improved to 22.6% in 1H’16 from 20.1% in the pcp.
Download Report