South Australian Stock Exchange Index...Iron Road Limited 73.3% Pepinnini Minerals Limited 70.6%...

South Australian Stock Exchange Index March 2017

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Brochure / report title goes here | Section title goes here

ContentsExecutive summary 03

Positive contributions to the Deloitte SA Index 05

Negative contributions to the Deloitte SA Index 06

Additions and removals from the Deloitte SA Index 07

Market wrap – 31 March 2017 08

South Australia’s share price performance 11

Comparison of the Deloitte SA Index and the S&P/ASX 200 Index 13

Companies included in the Deloitte SA Index as at 31 March 2017 15

Compilation of the Deloitte SA Index 19

About Deloitte 20

Contact us 21

March 2017, Issue 44 South Australian Stock Exchange Index Published quarterly by Deloitte

Brought to you by:

Stephen Adams Partner | Financial Advisory Market Leader – South Australia Tel: +61 8 8407 7025 email: [email protected]

South Australian Stock Exchange Index

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Executive summary

Welcome to the Deloitte South Australian Stock Exchange Quarterly Index (Deloitte SA Index) for 31 March 2017.

The Deloitte SA Index is a quarterly review of South Australian stocks. It is compiled from publicly available information provided by the Australian Securities Exchange (ASX). The Deloitte SA Index is based on the market capitalisation weighted share price performance of South Australian listed companies. The impact of dividends and capital returns are excluded from the Index, which currently comprises 65 companies.

The Deloitte SA Index has increased by 0.8% over the last 12 months whilst the S&P/ASX 200, increased by 15.4% over the same period.

The S&P/ASX 200 outperformed the Deloitte SA Index in the March quarter recording an increase of 3.5%, compared to a decrease of 3.1% by the Deloitte SA Index. The S&P/ASX 200 recorded consistent growth through the March quarter whilst the Deloitte SA Index declined in both January and March with only a small rise in February. The absolute total market capitalisation of the state’s 65 listed companies increased by $110 million (0.39%) during the March quarter, from $27.79 billion to $27.90 billion.

Deloitte SA Index materials companies have continued to benefit from rising commodity prices. A number of materials

Stephen Adams Partner | Financial Advisory Market Leader – South Australia

companies positively contributed to the Deloitte SA Index in the March quarter, with the industry contributing $440 million to the market capitalisation of the Deloitte SA Index over the quarter.

This strong performance is further reflected with materials companies comprising six of the eight largest positive contributors to the Deloitte SA Index, and the top eight increases in share price this quarter.

Sustained strong sentiment towards the resources industry, resulting from these upward trends in commodities prices, have come to fruition in recent half yearly results announcements. A number of materials companies made positive results announcements in the March quarter, including Ramelius Resources Limited and Iron Road Limited who both announced significantly improved financial positions.

These strengthened financial positions have allowed many companies to raise funding for capital investments over the last twelve months. The results of such investments are now materialising as companies announce positive developments within both new and existing projects. Amongst these companies are SA Index top performers including Havilah Resources NL, who announced upgrades

Stephen Adams Partner | Financial Advisory Market Leader – South Australia

to gold prospects at their Kalkaroo Project, and Investigator Resources Limited, who recently announced the interception of new high grade silver.

We anticipate continued positive growth from Deloitte SA Index materials companies as they harness the opportunities presented by recent commodity price increases.


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Deloitte SA Index Market Cap – 31 March 2017

27,790 27,900

(453) 414

148

1

27,000

27,200

27,400

27,600

27,800

28,000

Market Cap – Dec 2016

Energy Materials Pharmaceuticals, Biotechnology &

Life Sciences

Other Market Cap – March 2017

Largest positive contributions to the Deloitte SA Index by materials companies in the 2017 March quarter

Rank Company Performance

1 Flinders Mines Limited 2.3%

2 OZ Minerals Limited 1.7%

3 Ramelius Resources Limited 0.4%

4 Iron Road Limited 0.2%

7 Havilah Resources NL 0.1%

8 Investigator Resources Limited 0.05%

Rank Company Performance

1 Thor Mining PLC 171.4%

2 Flinders Mines Limited 117.1%

3 Hillgrove Resources Limited 97.6%

4 Iron Road Limited 73.3%

5 Pepinnini Minerals Limited 70.6%

6 Stonewall Resources Limited 43.8%

7 Rex Minerals Limited 40.0%

8 Investigator Resources Limited 37.0%

Largest share price increases by materials companies in the 2017 March quarter


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Positive contributions to the Deloitte SA IndexOver the last quarter, 34 of the 65 South Australian listed companies positively contributed to the Deloitte SA Index. The top three contributors to the Index during this quarter were Flinders Mines Limited, OZ Minerals Limited and Ramelius Resources Limited.

Flinders Mines Limited (Flinders Mines) was the largest positive contributor (2.3%) to the Deloitte SA Index over the quarter. Flinders Mines is an emerging iron ore miner focused mainly on it’s primary project, the Pilbara Iron Ore Project. Recently undertaking a strategic review, Flinders Mines has announced an intention to develop infrastructure for the project and a future entitlement issue to fund asset development.

OZ Minerals Limited (OZ Minerals) was the second largest positive contributor

(1.7%) to the Deloitte SA Index over the quarter. OZ Minerals owns and operates the Prominent Hill copper-gold mine and the Carrapateena copper-gold mine in South Australia. In the March quarter, OZ Minerals announced a significant discovery at their One Tree Hill Prospect where they operate a joint venture with Cassini Resources, continuing a trend of strong performance since entering the SA Index in July 2015.

Ramelius Resources Limited (Ramelius) was the third largest positive contributor (0.4%) to the Deloitte SA Index over the quarter. Ramelius is a gold explorer, developer and miner operating projects predominately located in Western Australia. Achieving increased production over the last year, Ramelius received positive reactions to recently announced half yearly results.

Table 1: Largest positive contributions to the Deloitte SA Index in the 2017 March quarter

Company Performance

Flinders Mines Limited 2.3%

OZ Minerals Limited 1.7%

Ramelius Resources Limited 0.4%

Iron Road Limited 0.2%

Boart Longyear Limited 0.1%

Codan Limited 0.1%

Havilah Resources NL 0.1%

Investigator Resources Limited

0.0%

Table 2: Largest share price increases in the 2017 March quarter

Company Performance

Thor Mining PLC 171.4%

Flinders Mines Limited 117.1%

Hillgrove Resources Limited 97.6%

Iron Road Limited 73.3%

Pepinnini Minerals Limited 70.6%

Stonewall Resources Limited

43.8%

Rex Minerals Limited 40.0%


37.0%

Source: Deloitte analysis, ASX, Capital IQ Source: Deloitte analysis, ASX, Capital IQ

On an absolute share price performance basis, the companies that recorded the largest percentage share price increases for the three months to 31 March 2017 were: • Thor Mining PLC, which increased 171.4% from $0.007 per share to $0.019 per share

• Flinders Mines Limited, which increased 117.1% from $0.035 per share to $0.076 per share

• Hillgrove Resources Limited, which increased 97.6% from $0.042 per share to $0.083 per share.


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Negative contributions to the Deloitte SA IndexThe largest negative contributions on a market capitalisation basis to the Deloitte SA Index for the 2017 March quarter came from Santos Limited, Adelaide Brighton Limited and Highfield Resources Limited.

Table 3: Largest negative contributions to the Deloitte SA Index in the 2017 March quarter

Company Performance

Santos Limited (3.1%)

Adelaide Brighton Limited (2.1%)

Highfield Resources Limited (0.9%)

Ellex Medical Lasers Limited (0.7%)

Mayne Pharma Group Limited

(0.5%)

Prophecy International Holdings Limited

(0.5%)

Beach Energy Limited (0.5%)

SeaLink Travel Group Limited

(0.4%)

Table 4: Largest share price decreases in the 2017 March quarter

Company Performance

Sundance Energy Australia Limited

(45.5%)

Boart Longyear Limited (34.4%)

MGM Wireless Limited (31.1%)

PNX Metals Limited (29.6%)

Highfield Resources Limited (28.6%)

Renascor Resources Limited

(25.8%)


(23.5%)

Reproductive Health Science Limited

(23.5%)

The companies that recorded the largest percentage share price decreases for the 2017 March quarter were Sundance Energy Australia Limited, Boart Longyear Limited and MGM Wireless Limited.

Source: Deloitte analysis, ASX, Capital IQ Source: Deloitte analysis, ASX, Capital IQ


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Additions and removals from the Deloitte SA IndexThe following companies were added to or removed from the Deloitte SA Index during the 2017 March quarter.

Additions: Removals:

There were no additions to the Deloitte SA Index in the 2017 March quarter.

There were no removals from the Deloitte SA Index in the 2017 March quarter.


08

Market wrap – 31 March 2017

Market capitalisation

Nano cap Less than $50 million

Micro cap $50 million to $300 million

Small cap $300 million to $2 billion

Mid cap $2 billion to $10 billion

Large cap $10 billion to $200 billion

Mega cap Market capitalisation of $200 billion and greater

Companies listed in the Deloitte SA Index have been divided into the categories listed in the table below for the purposes of the quarterly market wrap.

Table 5: Major movements in market capitalisation in each category

Increases ($m)

Mar 2017 ranking

Dec 2016 ranking

Company nameMarket cap Mar 2017

% change in share price

% change in market cap

Mid cap5 5 Mayne Pharma Group Limited 2,145.2 6.0% 6.3%3 3 Adelaide Brighton Limited 3,690.0 4.6% 4.6%2 2 Argo Investments Limited 5,228.3 1.1% 1.5%

Small cap9 13 Terramin Australia Limited 355.1 34.5% 36.4%7 8 Elders Limited 516.9 14.4% 14.4%

Micro cap

15 22 Flinders Mines Limited 242.7 117.1% 117.1%18 24 Iron Road Limited 176.2 73.3% 73.3%27 32 Leigh Creek Energy Limited 50.5 35.7% 35.7%21 23 Havilah Resources NL 120.0 17.7% 17.8%17 18 Bionomics Limited 180.6 13.6% 13.6%

Nano cap

57 64 Thor Mining PLC 4.9 171.4% 211.0%53 62 Maximus Resources Limited 7.3 – 200.0%49 55 Pepinnini Minerals Limited 11.2 70.6% 113.2%42 49 Hillgrove Resources Limited 18.0 97.6% 107.8%56 58 Mithril Resources Limited 5.1 20.0% 48.3%


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Decreases ($m)

Mar 2017 ranking

Dec 2016 ranking

Company nameMarket cap Mar 2017

% change in share price

% change in market cap

Mid cap1 1 Santos Limited 7,916.3 (5.5%) (3.1%)4 4 OZ Minerals Limited 2,338.4 (0.8%) (0.8%)

Small cap

11 9 Highfield Resources Limited 306.4 (28.6%) (28.3%)6 6 Beach Energy Limited 1,498.6 (5.9%) (5.5%)8 7 SeaLink Travel Group Limited 441.0 (5.0%) (5.0%)10 10 Codan Limited 353.6 (1.2%) (1.2%)

Micro cap

19 11 Sundance Energy Australia Limited 149.9 (45.5%) (45.5%)24 21 Boart Longyear Limited 77.8 (34.4%) (33.9%)20 17 Ellex Medical Lasers Limited 133.3 (21.4%) (21.4%)22 19 Beston Global Food Company Limited 115.3 (17.5%) (17.5%)23 20 Australian Vintage Limited 109.0 (9.0%) (9.0%)

Nano cap

60 54 MGM Wireless Limited 4.0 (31.1%) (31.1%)45 40 PNX Metals Limited 14.0 (29.6%) (29.5%)50 44 Renascor Resources Limited 11.1 (25.8%) (25.8%)34 31 Prophecy International Holdings Limited 33.3 (23.5%) (23.5%)55 52 Reproductive Health Science Limited 5.9 (23.5%) (23.5%)

($m)

Market Capitalisation of Deloitte SA Index as at 31 December 2016 27,790

Total inclusions -

Total removals -

New SA inclusions/(removals) for March 2017 quarter -

Major increases(Δ > +$20 million)

Adelaide Brighton Limited 162.4

Flinders Mines Limited 130.9

Mayne Pharma Group Limited 126.2

Terramin Australia Limited 94.7

Argo Investments Limited 74.7

Iron Road Limited 74.5

Elders Limited 64.9

Bionomics Limited 21.7

Major decreases(Δ < -$20 million)

Santos Limited (253.9)

Sundance Energy Australia Limited (124.9)

Highfield Resources Limited (121.1)

Beach Energy Limited (86.7)

Boart Longyear Limited (39.8)

Ellex Medical Lasers Limited (36.3)

Beston Global Food Company Limited (24.4)

Sealink Travel Group Limited (23.3)

Other movements 70

Total increase/(decrease) 110

Market capitalisation of Deloitte SA Index as at 31 March 2017 27,900

Table 6: Major movements in market capitalisation for the three months ended 31 March 2017

Source: Deloitte analysis, ASX, Capital IQ


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Table 7: Market capitalisation by industry as at 31 March 2017

Industry Number of companies

Mar 2017 ($m)

Dec 2016 ($m)

Movement in quarter

($m)

% of Index

% Change last 3

months

% Change last 6

months

% Change last 12

months

% Change since

Jun 2005

Capital goods 3 113 152 (39) 0.4% (25.5%) (31.8%) (6.8%) (85.6%)

Consumer services 1 441 464 (23) 1.6% (5.0%) (1.8%) 0.5% –

Diversified financials 3 5,592 5,533 59 20.0% 1.1% 4.5% 4.9% 116.0%

Energy 8 9,827 10,280 (453) 35.2% (4.4%) 22.6% 15.2% 39.9%

Food beverage and tobacco 3 671 620 52 2.4% 8.3% 25.5% 35.7% (59.9%)

Health care equipment and services

5 265 311 (45) 1.0% (14.6%) 15.1% 64.6% 1,599.6%

Materials 31 7,907 7,493 414 28.3% 5.5% 15.6% 30.2% 452.1%

Media 1 13 11 2 0.0% 21.4% 0.0% (10.5%) –

Pharmaceuticals, biotechnology and life sciences

2 2,326 2,178 148 8.3% 6.8% (27.2%) 69.7% 2,980.5%

Real estate 1 21 24 (3) 0.1% (12.3%) 2.1% 3.8% (83.0%)

Semiconductors and semiconductor equipment

1 44 48 (4) 0.2% (9.1%) (13.0%) (13.0%) 7.1%

Software and services 3 49 60 (12) 0.2% (19.4%) (22.1%) (58.2%) (27.2%)

Technology hardware and equipment 1 354 358 (4) 1.3% (1.2%) 23.9% 161.1% 53.2%

Transportation 1 208 194 14 0.7% 7.3% 24.4% 2.9% (1.4%)

Utilities 1 68 64 4 0.2% 7.0% 0.5% – (92.1%)

TOTAL 65 27,900 27,790 110 100.0% 0.4% 9.6% 21.0% 60.3%



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South Australia’s share price performance

0% 100% 200% 300% 400% 600%500%

Flinders Mines Limited

Pepinnini Minerals Limited

Magnetite Mines Limited

Codan Limited

LBT Innovations Limited

Core Exploration Limited


Iron Road Limited

Figure 3: Yearly performance to 31 March 2017, top eight gains


Figure 1: Monthly performance to 31 March 2017, top eight gains


0% 10% 20% 30% 40% 50% 60% 80%70%


Thor Mining PLC

Iron Road Limited


Terramin Australia Limited

Beston Global Food Company Limited

LBT Innovations Limited

Leigh Creek Energy Limited

Figure 2: Quarterly performance to 31 March 2017, top eight gains


0% 20% 40% 60% 80% 100% 140%120% 160% 180% 200%

Thor Mining PLC

Flinders Mines Limited

Hillgrove Resources Limited

Iron Road Limited



Rex Minerals Limited



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Figure 4: Monthly performance to 31 March 2017, bottom eight




Figure 5: Quarterly performance to 31 March 2017, bottom eight

Figure 6: Yearly performance to 31 March 2017, bottom eight

(30%) (25%) (20%) (15%) (10%) (5%) 0%

Archer Exploration Limited

Marmota Energy Limited

Ramelius Resources Limited

E & A Limited

PNX Metals Limited

Boart Longyear Limited

MGM Wireless Limited

Papyrus Limited

(50%) (40%) (30%) (20%) (10%) 0%

Reproductive Health Science Limited


Renascor Resources Limited

Highfield Resources Limited

PNX Metals Limited


Boart Longyear Limited


(80%) (60%) (40%) (20%) 0%


Leigh Creek Energy Limited

E & A Limited

Papyrus Limited


UraniumSA Limited

Petratherm Limited



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Comparison of the Deloitte SA Index and the S&P/ASX 200 IndexThe S&P/ASX 200 outperformed the Deloitte SA Index during the three months to 31 March 2017. The Deloitte SA Index decreased by 3.1%, compared to the S&P/ASX 200, which increased by 3.5%.

The largest positive contributions to the Deloitte SA Index for the quarter were a 2.3% increase by Flinders Mines Limited and a 1.7% increase by OZ Minerals Limited.

The largest negative contributions on a market capitalisation basis to the Deloitte SA Index for the quarter came from

Santos Limited which decreased by 3.1% and a decrease of 2.1% from Adelaide Brighton Limited.

For the six months to 31 March 2017, the S&P/ASX 200 outperformed the Deloitte SA Index, recording an increase of 7.9% compared to a decrease of 1.3% for the Deloitte SA Index.

For the twelve months to 31 March 2017, the S&P/ASX 200 outperformed the Deloitte SA Index, recording an increase of 15.4% compared to an increase of 0.8% for the Deloitte SA Index.

Table 8: Percentage change in major indices

Figure 7: Percentage change to 31 March 2017 – Deloitte SA Index vs. S&P/ASX 200 Index

Index nameLast 12 months

Last 6 months

Last 5 months

Last 4 months

Last 3 months

Last 2 months

Last month

Deloitte SA Index 0.8% (1.3%) (2.1%) (3.5%) (3.1%) (0.8%) (1.7%)

S&P/ASX 200 15.4% 7.9% 10.3% 7.8% 3.5% 4.3% 2.7%



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Figure 8: Percentage change to 31 March 2017 – Deloitte SA Index (including Santos) vs. Deloitte SA Index (excluding Santos) vs. S&P/ASX 200 Index


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Figure 9: Percentage change to 31 March 2017 – Deloitte SA Energy & Resources Index vs. S&P/ASX 200 Index



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Companies included in the Deloitte SA Index as at 31 March 2017Table 9: Constituents of the Deloitte SA Index ranked by share price performance during the 2017 March quarter

Rank Code CompanyShare price Mar 2017

($)

Share price Dec 2016

($)

Change ($)

Change (%)

High price 12m ($)

Low price 12m ($)

1 THR Thor Mining PLC 0.02 0.01 0.0 171.4% 0.03 0.01

2 FMS Flinders Mines Limited 0.08 0.04 0.0 117.1% 0.09 0.01

3 HGO Hillgrove Resources Limited 0.08 0.04 0.0 97.6% 0.14 0.03

4 IRD Iron Road Limited 0.26 0.15 0.1 73.3% 0.30 0.08

5 PNN Pepinnini Minerals Limited 0.03 0.02 0.0 70.6% 0.05 0.01

6 SWJ Stonewall Resources Limited 0.02 0.02 0.0 43.8% 0.02 0.01

7 RXM Rex Minerals Limited 0.07 0.05 0.0 40.0% 0.08 0.04

8 IVR Investigator Resources Limited 0.04 0.03 0.0 37.0% 0.07 0.02

9 LCK Leigh Creek Energy Limited 0.19 0.14 0.1 35.7% 0.40 0.10

10 TZN Terramin Australia Limited 0.20 0.15 0.1 34.5% 0.20 0.08

11 MGT Magnetite Mines Limited 0.05 0.04 0.0 21.1% 0.08 0.02

12 MTH Mithril Resources Limited 0.01 0.01 0.0 20.0% 0.02 0.00

13 LSN Lawson Gold Limited 0.07 0.06 0.0 18.2% 0.08 0.04

14 HAV Havilah Resources NL 0.70 0.60 0.1 17.7% 0.87 0.32

15 ELD Elders Limited 4.54 3.97 0.6 14.4% 4.59 3.31

16 BNO Bionomics Limited 0.38 0.33 0.0 13.6% 0.50 0.23

17 MOX Monax Mining Limited 0.01 0.01 0.0 11.1% 0.03 0.01

18 CXO Core Exploration Limited 0.08 0.07 0.0 10.3% 0.15 0.02

19 KOV Korvest Limited 2.53 2.35 0.2 7.7% 2.85 1.99

20 D2O Duxton Water Limited 1.07 1.00 0.1 7.0% 1.10 0.96

21 KSC K & S Corporation Limited 1.71 1.60 0.1 6.6% 1.77 1.21

22 MYX Mayne Pharma Group Limited 1.43 1.35 0.1 6.0% 2.11 1.08

23 MEU Marmota Energy Limited 0.02 0.02 0.0 5.6% 0.03 0.01

24 KPT Kangaroo Island Plantation Timbers Limited 2.53 2.40 0.1 5.4% 2.89 1.31

25 ABC Adelaide Brighton Limited 5.68 5.43 0.3 4.6% 6.00 4.90

26 COE Cooper Energy Limited 0.37 0.36 0.0 4.2% 0.44 0.20

27 ALI Argo Global Listed Infrastructure Limited 1.73 1.68 0.1 3.3% 1.97 1.62

28 MEP Minotaur Exploration Limited 0.07 0.07 0.0 2.9% 0.14 0.05

29 GOO Gooroo Ventures Limited 0.19 0.18 0.0 2.8% 0.27 0.17

30 RMS Ramelius Resources Limited 0.51 0.50 0.0 2.0% 0.75 0.36

31 AXE Archer Exploration Limited 0.07 0.07 0.0 1.5% 0.12 0.06

32 ARG Argo Investments Limited 7.54 7.46 0.1 1.1% 7.89 7.11

33 ADN Andromeda Metals Limited 0.01 0.01 - - 0.03 0.01

34 CXM Centrex Metals Limited 0.07 0.07 - - 0.08 0.06


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Rank Code CompanyShare price Mar 2017

($)

Share price Dec 2016

($)

Change ($)

Change (%)

High price 12m ($)

Low price 12m ($)

35 TYK Tychean Resources Limited 0.01 0.01 - - 0.02 0.01

36 MXR Maximus Resources Limited 0.00 0.00 - - 0.01 0.00

37 USA UraniumSA Limited 0.01 0.01 - - 0.02 0.01

38 AJJ Asian American Medical Group Limited 0.12 0.12 - - 0.13 0.06

39 ITL Integrated Media Technology Limited 0.17 0.17 - - 0.19 0.17

40 VXL Valence Industries Limited 0.12 0.12 - - 0.12 0.12

41 OZL OZ Minerals Limited 7.83 7.89 (0.1) (0.8%) 10.08 4.85

42 CDA Codan Limited 2.00 2.02 (0.0) (1.2%) 2.45 0.75

43 PTR Petratherm Limited 0.03 0.03 (0.0) (3.6%) 0.08 0.02

44 SLK SeaLink Travel Group Limited 4.36 4.59 (0.2) (5.0%) 4.85 3.63

45 STO Santos Limited 3.80 4.02 (0.2) (5.5%) 5.07 3.30

46 CSS Clean Seas Tuna Limited 0.03 0.04 (0.0) (5.7%) 0.05 0.03

47 BPT Beach Energy Limited 0.80 0.85 (0.0) (5.9%) 0.94 0.51

48 LBT LBT Innovations Limited 0.33 0.35 (0.0) (7.1%) 1.09 0.12

49 AVG Australian Vintage Limited 0.46 0.50 (0.0) (9.0%) 0.66 0.43

50 LGD Legend Corporation Limited 0.20 0.22 (0.0) (9.1%) 0.25 0.18

51 AXI Axiom Properties Limited 0.05 0.06 (0.0) (12.3%) 0.06 0.05

52 EAL E & A Limited 0.05 0.06 (0.0) (13.3%) 0.13 0.05

53 SAU Southern Gold Limited 0.29 0.33 (0.0) (13.6%) 0.46 0.24

54 ALC Alcidion Group Limited 0.07 0.09 (0.0) (14.9%) 0.15 0.04

55 PPY Papyrus Limited 0.01 0.01 (0.0) (16.7%) 0.01 0.01

56 BFC Beston Global Food Company Limited 0.26 0.32 (0.1) (17.5%) 0.52 0.21

57 ELX Ellex Medical Lasers Limited 1.10 1.40 (0.3) (21.4%) 1.62 0.77

58 RHS Reproductive Health Science Limited 0.08 0.10 (0.0) (23.5%) 0.17 0.05

59 PRO Prophecy International Holdings Limited 0.52 0.68 (0.2) (23.5%) 1.79 0.51

60 RNU Renascor Resources Limited 0.02 0.03 (0.0) (25.8%) 0.06 0.02

61 HFR Highfield Resources Limited 0.95 1.33 (0.4) (28.6%) 1.58 0.85

62 PNX PNX Metals Limited 0.02 0.03 (0.0) (29.6%) 0.04 0.01

63 MWR MGM Wireless Limited 0.46 0.66 (0.2) (31.1%) 0.99 0.45

64 BLY Boart Longyear Limited 0.08 0.13 (0.0) (34.4%) 0.19 0.08

65 SEA Sundance Energy Australia Limited 0.12 0.22 (0.1) (45.5%) 0.24 0.10



17

Table 10: Constituents of the Deloitte SA Index ranked by market capitalisation as at 31 March 2017

Rank Mar 2017

Rank Mar 2016

Code Company

Market cap

Mar 2017 ($m)

cap Mar 2016

($m)

Change ($m)

Change (%)

Last price

($)

High price 12m ($)

Low price 12m ($)

1 1 STO Santos Limited 7,916.3 7,118.4 797.9 11.2% 3.80 5.07 3.30

2 2 ARG Argo Investments Limited 5,228.3 4,941.7 286.6 5.8% 7.54 7.89 7.11

3 3 ABC Adelaide Brighton Limited 3,690.0 3,289.9 400.2 12.2% 5.68 6.00 4.90

4 4 OZL OZ Minerals Limited 2,338.4 1,526.4 812.0 53.2% 7.83 10.08 4.85

5 6 MYX Mayne Pharma Group Limited 2,145.2 1,217.0 928.3 76.3% 1.43 2.11 1.08

6 5 BPT Beach Energy Limited 1,498.6 1,218.8 279.8 23.0% 0.80 0.94 0.51

7 9 ELD Elders Limited 516.9 327.4 189.5 57.9% 4.54 4.59 3.31

8 7 SLK SeaLink Travel Group Limited 441.0 433.8 7.2 1.7% 4.36 4.85 3.63

9 10 TZN Terramin Australia Limited 355.1 269.3 85.8 31.9% 0.20 0.20 0.08

10 15 CDA Codan Limited 353.6 135.5 218.2 161.1% 2.00 2.45 0.75

11 8 HFR Highfield Resources Limited 306.4 379.2 (72.8) (19.2%) 0.95 1.58 0.85

12 13 RMS Ramelius Resources Limited 267.8 179.7 88.0 49.0% 0.51 0.75 0.36

13 11 ALI Argo Global Listed Infrastructure Limited 248.2 257.6 (9.3) (3.6%) 1.73 1.97 1.62

14 22 COE Cooper Energy Limited 244.2 80.1 164.1 204.9% 0.37 0.44 0.20

15 29 FMS Flinders Mines Limited 242.7 38.2 204.6 536.2% 0.08 0.09 0.01

16 12 KSC K & S Corporation Limited 208.1 202.3 5.8 2.9% 1.71 1.77 1.21

17 14 BNO Bionomics Limited 180.6 153.9 26.6 17.3% 0.38 0.50 0.23

18 23 IRD Iron Road Limited 176.2 75.7 100.5 132.9% 0.26 0.30 0.08

19 19 SEA Sundance Energy Australia Limited 149.9 95.3 54.6 57.3% 0.12 0.24 0.10

20 20 ELX Ellex Medical Lasers Limited 133.3 84.0 49.3 58.7% 1.10 1.62 0.77

21 24 HAV Havilah Resources NL 120.0 64.7 55.3 85.5% 0.70 0.87 0.32

22 16 BFC Beston Global Food Company Limited 115.3 129.0 (13.7) (10.6%) 0.26 0.52 0.21

23 17 AVG Australian Vintage Limited 109.0 125.4 (16.4) (13.1%) 0.46 0.66 0.43

24 21 BLY Boart Longyear Limited 77.8 83.2 (5.4) (6.5%) 0.08 0.19 0.08

25 - D2O Duxton Water Limited 68.4 - 68.4 - 1.07 1.10 0.96

26 33 KPT Kangaroo Island Plantation Timbers Limited

61.0 22.3 38.7 173.2% 2.53 2.89 1.31

27 25 LCK Leigh Creek Energy Limited 50.5 62.1 (11.6) (18.7%) 0.19 0.40 0.10

28 37 LBT LBT Innovations Limited 45.5 15.5 30.0 193.1% 0.33 1.09 0.12

29 27 CSS Clean Seas Tuna Limited 45.3 42.0 3.3 7.9% 0.03 0.05 0.03

30 36 ALC Alcidion Group Limited 45.0 17.1 27.9 162.9% 0.07 0.15 0.04

31 35 SWJ Stonewall Resources Limited 44.7 20.1 24.6 122.1% 0.02 0.02 0.01

32 26 LGD Legend Corporation Limited 43.7 50.2 (6.5) (13.0%) 0.20 0.25 0.18


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Rank Mar 2017

Rank Mar 2016

Code Company

Market cap

Mar 2017 ($m)

cap Mar 2016

($m)

Change ($m)

Change (%)

Last price

($)

High price 12m ($)

Low price 12m ($)

33 28 AJJ Asian American Medical Group Limited 35.7 39.0 (3.3) (8.4%) 0.12 0.13 0.06

34 18 PRO Prophecy International Holdings Limited 33.3 108.8 (75.5) (69.4%) 0.52 1.79 0.51

35 45 CXO Core Exploration Limited 28.1 7.6 20.5 269.9% 0.08 0.15 0.02

36 30 KOV Korvest Limited 28.1 25.2 2.9 11.3% 2.53 2.85 1.99

37 32 VXL Valence Industries Limited 22.9 22.9 - - 0.12 0.12 0.12

38 31 CXM Centrex Metals Limited 22.1 24.0 (1.9) (7.9%) 0.07 0.08 0.06

39 44 IVR Investigator Resources Limited 21.7 8.3 13.3 160.3% 0.04 0.07 0.02

40 58 MGT Magnetite Mines Limited 21.3 2.4 18.9 770.1% 0.05 0.08 0.02

41 34 AXI Axiom Properties Limited 21.0 20.3 0.8 3.8% 0.05 0.06 0.05

42 42 HGO Hillgrove Resources Limited 18.0 10.3 7.7 74.4% 0.08 0.14 0.03

43 39 RXM Rex Minerals Limited 15.4 14.8 0.7 4.5% 0.07 0.08 0.04

44 41 MEP Minotaur Exploration Limited 15.3 11.5 3.8 33.4% 0.07 0.14 0.05

45 51 PNX PNX Metals Limited 14.0 5.2 8.8 167.3% 0.02 0.04 0.01

46 38 ITL Integrated Media Technology Limited 13.5 15.1 (1.6) (10.5%) 0.17 0.19 0.17

47 43 SAU Southern Gold Limited 13.2 9.1 4.1 44.8% 0.29 0.46 0.24

48 - GOO Gooroo Ventures Limited 11.4 - 11.4 - 0.19 0.27 0.17

49 61 PNN Pepinnini Minerals Limited 11.2 1.5 9.7 630.8% 0.03 0.05 0.01

50 53 RNU Renascor Resources Limited 11.1 4.5 6.6 149.0% 0.02 0.06 0.02

51 48 MEU Marmota Energy Limited 9.8 6.7 3.1 45.6% 0.02 0.03 0.01

52 46 AXE Archer Exploration Limited 9.5 7.5 1.9 25.5% 0.07 0.12 0.06

53 63 MXR Maximus Resources Limited 7.3 1.3 6.0 474.6% 0.00 0.01 0.00

54 40 EAL E & A Limited 7.1 12.7 (5.6) (44.1%) 0.05 0.13 0.05

55 49 RHS Reproductive Health Science Limited 5.9 5.7 0.3 5.0% 0.08 0.17 0.05

56 56 MTH Mithril Resources Limited 5.1 3.5 1.6 44.0% 0.01 0.02 0.00

57 64 THR Thor Mining PLC 4.9 1.0 3.9 394.2% 0.02 0.03 0.01

58 57 MOX Monax Mining Limited 4.6 3.0 1.5 50.8% 0.01 0.03 0.01

59 54 ADN Andromeda Metals Limited 4.0 3.9 0.1 2.5% 0.01 0.03 0.01

60 47 MWR MGM Wireless Limited 4.0 7.4 (3.5) (46.6%) 0.46 0.99 0.45

61 59 LSN Lawson Gold Limited 3.8 2.1 1.7 82.4% 0.07 0.08 0.04

62 55 USA UraniumSA Limited 3.1 3.8 (0.6) (16.3%) 0.01 0.02 0.01

63 50 PTR Petratherm Limited 2.7 5.4 (2.7) (50.2%) 0.03 0.08 0.02

64 62 TYK Tychean Resources Limited 2.3 1.4 0.9 64.8% 0.01 0.02 0.01

65 60 PPY Papyrus Limited 1.1 1.8 (0.7) (38.4%) 0.01 0.01 0.01



19

Compilation of the Deloitte SA IndexCompilation of the Deloitte SA Index The quarterly Deloitte SA Index is compiled from publicly available information provided by the ASX on the share prices and market capitalisation of each South Australian listed company.

A company is included on the Deloitte SA Index if its registered office is in South Australia. Dual-listed companies are not included in the Deloitte SA Index. The information on South Australian listed companies is extracted to provide a market capitalisation weighted share price index for all South Australian companies broadly in line with the methodology adopted for the compilation of the S&P/ASX 200 Index. The impact of dividends and capital returns has been excluded from the Deloitte SA Index.

The base period of the Deloitte SA Index is 30 June 2005, and for the purposes of the Index this month is given a notional value of one. Please note, if a company has been delisted during a particular period, no data will be included for that month and all subsequent months until the company is relisted. Historical information regarding the company will continue to be included int he calculation of the Deloitte SA Index.

About Deloitte AdelaideAs one of Australia's leading professional services firms, Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting and financial advisory services through approximately 6,000 people across the country. We have expertise that spans across industry sectors including automotive; consumer business; energy and resources; financial services; government services; life sciences and health care; manufacturing;

real estate; and technology, media and telecommunications. Focused on the creation of value and growth, and known as an employer of choice for innovative human resources programs, we are dedicated to helping our clients and our people excel. Our processionals are dedicated to strengthening corporate responsibility, building public trust, and making a positive impact in their communities.

Our Adelaide practice continues to grow with over 220 dedicated personnel including 19 partners. We provide high quality service to our clients throughout South Australia, delivering seamless solutions and the insights that they need to address their most complex business challenges. The strong performance culture of the Adelaide office is attributed to Deloitte's seven Signals, representing who we are and how we do business.

Disclaimer of liabilityThis Index has been prepared as general information only and does not consider the specific objectives, situation or needs of anyone including any member of its target audience. You should not rely on the information in the Index or disclose it or refer to it in any document.

Deloitte does not accept any duty of care or liability to anyone regarding this Index or any of its content and we are not responsible to anyone for any loss suffered inc onnection with the use of this index or any of its content. We make no representation or warranty about the accuracy of the information in the Index. Circumstances might have changed since the date this Index was prepared.

For more information regarding the Deloitte SA Index, please contact:Stephen Adams Partner Financial Advisory Tel: +61 8 8407 7025 email: [email protected]

Kathryn Fritz Analyst Financial Advisory Tel: +61 8 8407 7128 email: [email protected]

Emily Easling Analyst Financial Advisory Tel: +61 8 8407 7090 email: [email protected]

mailto:[email protected]


20

About Deloitte

13 | Issue 145 - Western Australian Stock Exchange Index

About Deloitte

Our Signals

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Have fun and celebrateThere is never a wrong time to celebrate and have fun – recognising, appreciating, acknowledging and learning from the experiences and success shared between our client and Deloitte teams.

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Play to winThink globally – Winning is our stated objective. It is also our state of mind.

Talk straightWhen we talk, it’s open, regular, honest, constructive two-way communication between our people and our clients.

Empower and trustWe encourage a sense of ownership and pride by giving responsibility and delegating authority.

Recruit and retain the bestOur people are talented, enthusiastic, self-starters, team players who are bursting with potential. They are people with whom we have a lifetime association.

Our Culture – our essenceCulture at Deloitte does not just happen – we work at it. It’s the sum total of the actions of our people, it’s the way we treat others – it’s the way we behave. Our seven Signals embody these values. Our passion for teamwork and exceptional client service is our point of difference.

At Deloitte, we live and breathe our culture. Our internationally experienced professionals strive to deliver seamless, consistent services wherever our clients operate.

Our mission is to help our clients and our people excel.

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Our signalsContinuously grow and improveWe have an environment that respects the individual, rewards achievements, welcomes change and encourages a lifetime of learning – with ourselves and our clients.

Have fun and celebrateThere is never a wrong time to celebrate and have fun – recognising, appreciating, acknowledging and learning from the experiences and success shared between our client and Deloitte teams.

Aim to be famousWe aim to reach for the stars – and beyond.

To be thought leaders, showcasing our clients and our team’s talent and expertise.

Play to winThink globally – Winning is our stated objective.

It is also our state of mind.

Talk straightWhen we talk, it’s open, regular, honest, constructive two-way communication between our people and our clients.

Empower and trustWe encourage a sense of ownership and pride by giving responsibility and delegating authority.

Recruit and retain the bestOur people are talented, enthusiastic, self-starters, team players who are bursting with potential. They are people with whom we have a lifetime association.

Our culture – our essenceCulture at Deloitte does not just happen – we work at it. It’s the sum total of the actions of our people, it’s the way we treat others – it’s the way we behave. Our seven Signals embody these values. Our passion for teamwork and exceptional client service is our point of difference.

At Deloitte, we live and breathe our culture. Our internationally experienced professionals strive to deliver seamless, consistent services wherever our clients operate.

Our mission is to help our clients and our people excel.


21

Contact us

Please feel free to contact any of the following to discuss how we can achieve your goals:

Stephen Adams Partner – Financial Advisory Market Leader – South Australia Tel: +61 8 8407 7025 Email: [email protected]

David Egan Partner – Financial Advisory Tel: +61 8 8407 7150 Email: [email protected]

Adrian O’Dea Partner – Financial Advisory Tel: +61 8 8407 7143 Email: [email protected]

Andrew Culley Office Managing Partner – South Australia Tel: +61 8 8407 7305 email: [email protected]

John Rawson Lead Partner – Corporate Tax Tel: +61 8 8407 7158 email: [email protected]

Adrian Lanzilli Partner – Corporate Tax Tel: +61 8 8407 7193 Email: [email protected]

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Darren Hall Lead Partner – Audit & Assurance Tel: +61 8 8407 7444 Email: [email protected]

Penny Woods Partner – Audit & Assurance Tel: +61 8 8407 7085 Email: [email protected]

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