cycle

Searching for Cycle Bottom

John Robertson

Despite a 20% rise this month, the small resources share price index – the best pricing indicator for the bulk of Australia’s listed resources companies – remains near the level at which it was trading 15 years ago. The seemingly strong return is indicative of leverage near the bottom of... Show More

Kasbah Resources: Up or Down?

John Robertson

With little direction from macroeconomic forces four years after a cyclical peak, many stocks within the resources sector have been responding to events with largely predictable trading patterns. Kasbah Resources is aiming to develop a tin mine in Morocco as it approaches the second anniversary of a price downtrend which... Show More

Resource Sector Strategy – Weekly Investment Report

John Robertson

This week’s PortfolioDirect investment report highlights once again how resource sector equity prices remain confined to a cyclical trough with very few examples of companies being able to display enough strength to establish sustainably higher price platforms. Meanwhile, the flow of economic indicators is pointing to more downward pressure on... Show More

Historically low government bond yields in the major capital markets should be a boon for resources companies looking to finance new mines but the...

John Robertson

Historically low government bond yields in the major capital markets should be a boon for resources companies looking to finance new mines but the macroeconomic benefit has failed to trickle down to companies. Yields on corporate bonds with ratings lower than CCC (i.e. the end of the market inhabited by... Show More