Daily Brief Australia: Pureprofile Ltd, Godolphin Resources Ltd, Freelancer Ltd, Nickel Industries , Actinogen Medical, Alkane Resources and more

• Pureprofile Ltd (ASX:PPL) is a data analytics, consumer insights and media company underpinned by proprietary technology, servicing business decision makers in brands and media companies as well as market researchers.
• Pureprofile has confirmed, as previously announced on 30 January, that H1 FY24 revenue was $24.0m, with platform revenue contributing $4.4m, a 104% increase on the previous corresponding period (pcp).
• EBITDA, adjusted for significant and non-cash items, increased 9.6% to $2.37m.

• Godolphin Resources Limited (ASX:GRL) is an ASX-listed green metals and critical minerals explorer with a focus on central west New South Wales.
• The company’s projects include the Narraburra rare earths element (REE) project, the Goodrich copper prospect, the Yeoval copper-gold-molybdenum project and the Gundagai gold project.
• The projects are predominantly located on the Lachlan Fold Belt, a highly prospective province for the discovery of rare earth elements, copper, gold and base metal deposits. 

Freelancer’s FY23 results marked a key milestone as the group moved to positive operating EBITDA. Profitability was driven by lower opex than we anticipated as gross marketplace volume (GMV) and revenue declined due to a delayed recovery in the core retail platform and Escrow. Loadshift momentum following its transition to a more value-driven marketplace model, along with Enterprise growth, softened the size of the revenue decline. While Escrow volumes and revenue were down, lead indicators remain positive, with two major e-commerce platforms expected to deploy the Escrow service in H124. Loadshift, Enterprise and the retail platform also provide diverse levers to drive a return to growth, where delivery on a lower cost base will be key to a re-rating.

• Godolphin Resources Limited (ASX:GRL) is an ASX-listed green metals and critical minerals explorer with a focus on central west New South Wales.
• The company’s projects include the Narraburra rare earths element (REE) project, the Goodrich copper prospect, the Yeoval copper-gold-molybdenum project and the Gundagai gold project.
• The projects are predominantly located on the Lachlan Fold Belt, a highly prospective province for the discovery of rare earth elements, copper, gold and base metal deposits.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Nickel Industries

Having shown cognitive activity in prior trials, Actinogen began its XanaMIA Phase IIb study of lead candidate Xanamem in patients with cognitive impairment (CI) associated with mild-to-moderate Alzheimer’s disease (AD). The study will assess c 220 biomarker-positive AD patients, with interim results expected in H1 CY25. Actinogen recently reported results from a human positron emission tomography (PET) imaging study, which affirm the drug’s mechanism of action (MoA) in healthy subjects and patients with AD, by showing that Xanamem exhibited high target enzyme occupancy designed to impede cortisol production, as well as favourable safety and tolerability. Our risk-adjusted net present value (rNPV) remains essentially unchanged at A$528m.

• Pureprofile Ltd (ASX:PPL) is a data analytics, consumer insights and media company underpinned by proprietary technology, servicing business decision makers in brands and media companies as well as market researchers.
• Pureprofile has confirmed, as previously announced on 30 January, that H1 FY24 revenue was $24.0m, with platform revenue contributing $4.4m, a 104% increase on the previous corresponding period (pcp).
• EBITDA, adjusted for significant and non-cash items, increased 9.6% to $2.37m. Reported NPAT for the half was $3,888, a $509k turnaround on the pcp. 

• Alkane Resources Limited (ASX:ALK) is an ASX-listed gold producer and explorer with a focus on central west New South Wales.
• The Perth-headquartered company owns and operates the Tomingley gold mine and processing facilities, south-west of Dubbo and the Northern Molong porphyry project in central west NSW which includes the highly prospective Boda and Kaiser deposits.
• ALK recently announced high-grade results from the Kaiser resource upgrade drilling programme and upgraded the Boda resource to 6.6mn ounces of gold equivalent (AuEq), with 4.4Moz AuEq inferred.