In today’s briefing:
- S&P/ASX Index Rebalance Preview: Big Impact; A Week From Announcement
- Lakes Blue Energy NL – A Partner for the Enterprise North Dance
- Wrkr Limited – FY24 Revenue Guidance a Continuation of Q1 FY24
S&P/ASX Index Rebalance Preview: Big Impact; A Week From Announcement
- There could be 3 changes for the S&P/ASX 200 (AS51 INDEX) in December. There are unlikely to be any changes for indices higher up the hierarchy.
- Passive trackers will need to buy between 7-11 days of ADV in the inclusions while the impact on the deletions will be larger at between 11-23 days of ADV.
- Short interest has decreased on the potential inclusions and increased on the potential deletions. There is significant pre-positioning on some of the stocks.
Lakes Blue Energy NL – A Partner for the Enterprise North Dance
- Lakes Blue Energy NL (ASX:LKO) is a junior energy explorer with assets across southern and eastern Australia (and PNG).
- Having secured a farm-in deal, the company is set to return to exploration with the high-graded Enterprise North prospect set for drilling in H2 2024 subject to securing the requisite regulatory approvals.
- The success case of Enterprise North can also add material look-through upside to other Victorian opportunities.
Wrkr Limited – FY24 Revenue Guidance a Continuation of Q1 FY24
- Wrkr Ltd (ASX:WRK) offers compliance solutions for Australian superannuation contributions and payroll including member onboarding, super payments, messaging and employee validation.
- New AGM commentary is guiding FY24 revenue to $9m-$10m (RaaS $10.2m), which includes forecast SMSF Hub revenue in-line with RaaS at ~$800k and higher interest income, boosted by the recent RBA rate increase.
- While the onboarding of a ‘significant fund’ client of Link is expected ‘within weeks’ we have little in the way of transactional revenue in FY24, just implementation revenue.
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