Our expectation is that NEW should be able to generate income in the vicinity of at least 6% p.a. when it reaches its target level of gearing, is fully invested and all power plants are operational.

The Family Zone platform successfully enables parents, or schools, to establish user specific internet access restrictions for any user, any device, and from anywhere.

We have revised our target price for CDA up to $3.30 from $2.72 per share in our report published in March 2018. The Tracking Solutions division is expected to experience significant growth in FY19, although will remain a small portion of the company’s overall business.

We have a base case valuation/six month price target of A$0.64/share for Kibaran, calculated on a share structure diluted for funding of Epanko and EcoGraf and graphite pricing adjusted slightly upwards to reflect changes in pricing since release of the BFS. This is predicated on meaningful progress at both the Epanko and EcoGraf projects.

Key steps now include financing and the completion of permitting. We now expect a period of intense activity for Hastings with, in addition to the project development and financing activities, a drill programme as recently commenced to upgrade additional Resources to Reserves.