Mineral Resources Update
Date: 25/1/2024
*** GENERAL AVICE ONLY***
Current holding 4% – Balanced Portfolio
Look to Increase to 6% of Balanced Portfolio – Timing Dependent
Mineral Resources has jumped 5.6 per cent to $58.57 and is the best performing on the benchmark. The lithium miner kept its volume and cost guidance unchanged for FY24. In its second quarter report, the miner said spodumene production at Mt Marion had increased 30 per cent, quarter on quarter and shipments rose 34 per cent. It also noted that its Wodgina, Mt Marion and Bald Hill are profitable at current spodumene prices.
Resmed Update
ResMed is 5.6 per cent higher at $28.24. The medical technology developer has maintained its quarterly dividend at US48¢.
Revenue was up 12% (vs 9% expected) Margins were compressed by 50bps (expected >100bps)
We will look to TRIM above $29
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.