Quiet Contrarian. Ep67: Trades for June-Aug 2025 and Site update
So things will be changing a bit on here. I’m not too sure how exactly, but I have been playing with AI in ways that has been helping my investment process (no, I don’t just have GPT trade for me). Nothing really to note for now, just that changes are coming.
Buys
Clinuvel Pharmaceuticals – CUV.ASX – Topped up on my already existing holding. This is a long hold. I believe they will operationalise well over the next few years.
Ramelius Resources – RMS.ASX – A best in class operator, with incredibly low costs, an impeccable balance sheet, and an incredibly favourable AUD gold price. Currently acquiring Spartan which may further improve their long term numbers. Also trading dirt cheap, watch for details around the Spartan integration and development.
Treasury Wine Estate – TWE.ASX – High quality wine brand with a dual pronged strategy, to increase their presence in America as well as increase their luxury brand in China. There have been some operational challenges in America, and the market seems highly skeptical about the strong recent financial results, focussing on the failures instead. This is a potential opportunity for a rerate attached to a growth story.
Dimerix Ltd – DXB.ASX – Orphan Drug focussed on FSGS, an acute kidney disease. Interim Phase 3 results are looking good, and path to production is looking good with a great US licencing deal and a favorable update from the FDA. Australian F&D tax incentive provides a durable non-dilutive funing cushion. However, there is also a competitor that has managed to get their product accelerated, and is likely to be first to market. All in all, the upside seems worth the risk.
EZZ life sciences – EZZ.ASX – Bit of a rollercoaster for EZZ lately, strategically they’re excelling, they have agreements and plans for accelerating into US and SEA markets. However, the last year has seen flat revenue. They are at an inflection point of either renewed growth or flatlined sales. Beyond that they are incredibly well managed, with an impressive balance sheet and a set of profitable products to continue to fund growth.
Sells
Mader Group Ltd – MAD.ASX – Have been performing magnificently, but I just felt like they were far too overpriced for their model. At the time I sold they were at a 25x PE, but they have since moved to a 35x PE. So maybe I was premature. But also, this seems nuts for a services company to me.
