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Cannabis remains a hot-button issue in Australia, and the country's political parties have diverse opinions. Here's a look at what they think.
Cannabis reform at a national level still seems far off for Australians, but what do each of the country's major political parties think about the drug?
At the time of publication, the Australian federal parliament had members in the House of Representatives from nine political parties, and senators from nine political parties as well.
Let's look at what Australia's four major political parties think about cannabis, followed by a brief overview of the minor parties in power. We'll also run through the cannabis-specific political parties not currently elected.
Australian Liberal Party
The Australian Liberal Party is in power right now, and it has a conservative view on drug policy, including cannabis, which it believes should remain on the illicit and illegal drug list. The party also has policies around deporting drug dealers. Although it has endorsed research on medicinal cannabis through the Therapeutics Goods Association (TGA), it has since removed all references and specific policies regarding cannabis from its platform.
Current Health Minister Greg Hunt has expressed concern over the Australian Capital Territory's decision to legalise cannabis given that it directly conflicts with federal law. He previously told ABC Radio Melbourne that cannabis presents a "significant mental health risk."
Prime Minister Scott Morrison has joked that he "won't be partaking" in cannabis. He was also unmoved by activists from the Who Are We Hurting campaign who delivered a pound of weed to Kirribilli House on April 20, 2020, and then brought AU$420,000 in crisp green AU$100 bills to Parliament House on the same date in 2021.
Australian Labour Party
The stance from the Australian Labour Party is in support of medicinal cannabis only. Similar to the Australian Liberal Party, there is no public policy mention of cannabis or marijuana in the Australian Labour Party's mandate.
State members in Queensland and New South Wales have publicly called for the decriminalisation of cannabis, with some going so far as to call for legalisation; however, at this stage the official party line isn't pushing for legalising.
Running on a platform that focuses on rural Australian communities and agriculture, the Nationals often rely on more conservative policies. As part of a coalition government with the Australian Liberal Party, the party line for the Nationals is thought to be aligned as "no" to decriminalisation and "no" to legalisation, but "yes" to medicinal cannabis that is heavily regulated through the TGA.
The Australian Greens have been proudly (and loudly) lobbying for cannabis legalisation for many years as a major policy. The current party line is to legalise the production, sale and use of cannabis and cannabis products for recreational use, whilst regulating growth and possession for personal and medicinal use.
Minor parties in the House of Representatives
- Centre Alliance — Member of Parliament Rebekha Sharkie spoke in support of a medicinal cannabis bill in February 2021 and believes medicinal cannabis should be included in the Pharmaceutical Benefits Scheme.
- Independent — There are no public policies available for members of parliament Helen Haines, Zali Steggall or Andrew Wilkie, although Wilkie was the major push behind legalising hemp as a material and food source in Australia.
- Katter's Australia Party — Bob Katter is not pro-legalisation, and joked in parliament, "I didn't know marijuana was legal in Canberra and I can now understand why the country has gone to pot."
- Liberal Party of Queensland — No public policy; presumed to be the same as the Australian Liberal Party and Nationals as they are a coalition.
- United Australia Party — The party wants a standard on synthetic dangerous drugs, including cannabis.
Minor parties in the Senate
- Centre Alliance — Senator Stirling Griff voted against expanding medicinal cannabis in 2017. No public policy on record.
- Country Liberal Party — The party has no public policy on record.
- Independent — Senator Rex Patrick voted strongly in favour of increased access to medicinal cannabis, but has previously stated that decriminalising cannabis "requires considerable thought and analysis."
- Jacqui Lambert Network — The party has policies to address the problems facing everyday Tasmanians in accessing medicinal cannabis, and believes it should be a doctor/patient issue and not a political/bureaucratic issue.
- Pauline Hanson's One Nation — The party has stated, "One Nation upholds the right of Australians to access medical cannabis, that may give them quality of life and life itself." However, it has a history of blocking motions like the 2017 bid to fast-track medicinal cannabis for the terminally ill.
Pro-cannabis parties in Australian politics
There are several smaller pro-cannabis parties; of particular note is the Legalise Cannabis Australia Party. It was first founded as Help End Marijuana Prohibition (known by its clever and catchy acronym HEMP) in 1993 by Nigel Quinlan, who ran under the candidate name Nigel Freemarijuana.
The group, which changed its name to Legalise Cannabis Australia in September 2021, has a number of policies around legalising and regulating cannabis for personal use, industrial use and medicinal use.
A subgroup of Legalise Cannabis Australia is the Legalise Cannabis Queensland Party, which was officially approved by the Australian Electoral Commission in September 2020 and ran in the October 2020 state election. The party garnered 2.2 percent of the vote, the fourth highest overall. The Legalise Cannabis Western Australia Party won two Upper House seats in the 2021 state election.
The Reason Party (formerly the Australian Sex Party) advocates for cannabis to be legalised, regulated and taxed. The party is currently only represented in the Victorian Legislative Council by Fiona Patton and is not represented at a federal level. Patten recently chaired a foundational committee that provided a report on findings and recommendations on cannabis policy to the Victorian parliament.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.
Cyprium Metals Limited (ASX: CYM) (“Cyprium” or the “Company”) is pleased to announce further assay results from 28 RC holes (for 7,504m) of the Nifty West drilling program. The drilling programme targeted a lightly drilled area, up-plunge of the former underground mine in the keel area of the Nifty Syncline, below the western end of the Nifty open pit (refer to Figure 1).
- Assay results have been received from a further 28 RC holes drilled at Nifty West, targeting lightly tested areas of copper mineralisation below the former Nifty open pit.
- Confirms continuation of significant copper mineralisation in the keel zone to the west at 80- 100m thick, enhancing a potential large-scale open pit development.
- Significant results include:
Hole 21NRWP018 - 86m @0.57% Cu downhole zone of copper mineralisation including:
- 8m at 0.49% Cu from 170m including:
- 1m at 1.09% Cu from 176m, and
- 9m at 0.81% Cu from 181m including:
- 2m at 1.23% Cu from 182m & 2m at 1.05% Cu from 187m, and
- 18m at 0.96% Cu from 196m including:
- 1m at 2.03% Cu from 197m & 3m at 1.85% Cu from 202m & 1m at 1.36% Cu
from 207m & 2m at 1.29% Cu from 209m, and
- 10m at 0.76% Cu from 215m including:
- 1m at 1.00% Cu from 217m & 1m at 1.41% Cu from 223m, and
- 3m at 1.09% Cu from 226m including:
- 1m at 1.62% Cu from 226m, and
- 12m at 0.52% Cu from 244m including:
- 1m at 2.21% Cu from 245m
Hole 21NRWP020 - 97m @0.47% Cu downhole zone of copper mineralisation including:
- 7m at 0.58% Cu from 153m including:
- 1m at 1.02% Cu from 156m, and
- 5m at 0.60% Cu from 169m including:
- 1m at 1.12% Cu from 170m, and
- 6m at 0.91% Cu from 179m including:
- 3m at 1.30% Cu from 180m, and
- 5m at 0.54% Cu from 187m including:
- 1m at 1.02% Cu from 190m, and
- 15m at 0.70% Cu from 201m including:
- 2m at 1.49% Cu from 207m & 1m at 1.19% Cu from 215m, and
- 4m at 0.75% Cu from 222m including:
- 1m at 1.78% Cu from 223m, and
- 7m at 1.90% Cu from 235m including:
Managing Director Barry Cahill commented:
“We have been very pleased with the drilling results received to date. These assay results continue to confirm the presence of a substantial zone of copper mineralisation which is up-plunge of the former underground mine. We continue to be excited about the receipt of the results of balance of the outstanding assays. It is not often that you have the privilege of getting these widths of mineralisation beneath an existing shallow open pit. The assays will be included in an updated mineral resource estimate that we look forward to releasing during the first half of this year.”
This article includes content from Cyprium Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
The wave of initial public offerings that swept Australia’s tech industry in late 2020 is expected to continue well into 2021. The Australian Financial Review reported that a number of Australian tech companies are on the path towards a “likely listing” for 2021.
The wave of initial public offerings that swept Australia’s tech industry in late 2020 is expected to continue well into 2021. The Australian Financial Review reported that a number of Australian tech companies are on the path towards a "likely listing" for 2021.
Our FREE outlook report on the Australian tech market is new for 2021! This INNvestor Report is sure to offer you beneficial and informative data on this exciting market so you’re ready to invest.
Table of Contents
- The Future of Tech in Australia
- Tech Unicorns in Australia
- 5 Best ASX Technology Stocks
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The Board of Titan Minerals Limited (ASX: TTM) (Titan or the Company) is pleased to present the following update on surface exploration at its Linderos Project in Southern Ecuador. The focus of these programs has been the two main prospects currently known to exist at Linderos being the Mesta Gold Prospect and the Copper Ridge Prospect located <1km to its south. Some very exciting assay results from surface works are beginning to filter through with the key highlights so far being:
Meseta Gold Prospect
Assays received to date from the first 144 rock chips of 227 samples shipped for assay in the current mapping campaign, returned best results of:
- 64g/t gold with >1,500g/t silver (overlimit silver analysis pending) and 26.9g/t gold with 715g/t silver from exposed veins located 500m east of the closest previous drill hole.
- 61g/t gold with 103g/t silver and 42g/t gold with 9g/t silver located on current western margin of Meseta Gold Prospect
- 13g/t gold with 16g/t silver and 7.3g/t gold with 11g/t silver on veining discovered 2.3km southeast of Meseta Gold Prospect
Copper Ridge Prospect
A zone of outcropping quartz stockwork and altered porphyritic granodiorite averaging better than 0.2% copper over 360m wide has been identified in channel sampling. Assay results received for the first 28 of 47 channel samples have returned highly anomalous copper and gold results with the following highlights:
- 42m @ 0.31% copper and 0.12g/t gold including 12m @ 0.39% copper and 0.15g/t gold
- 42m @ 0.29% copper and 0.08g/t gold including 8m @ 0.53% copper and 0.11g/t gold
- 90m @ 0.26% copper and 0.13g/t gold
- 96m @ 0.21% copper.
Which ASX technology stocks performed the best in 2021? Here’s a look at the five top ASX technology stocks by share price performance.
The technology sector currently contributes about AU$167 billion to the Australian economy, according to research commissioned by the Technology Council of Australia. This figure has increased by 79 percent from 2016, representing a growth rate that is more than four times that of most industries. In fact, the tech sector is the third largest economic sector in Australia, behind mining and finance/insurance.
Unsurprisingly, many tech stocks on the ASX have performed well in this landscape.
Below the Investing News Network profiles the five best ASX technology stocks in terms of share price performance in 2021. Data for the companies was gathered on December 31, 2021, using TradingView’s stock screener, and all of the best ASX technology stocks listed had market caps above AU$10 million at that time.
Market cap: AU$4.45 billion; year-to-date gain: 659.5 percent
The first of the best ASX tech stocks on this list is battery technology company Novonix (ASX:NVX), which specializes in developing battery testing equipment for the worldwide lithium-ion battery market. The company was spun out from Dr. Jeff Dahn’s lab at Dalhousie University; Dr. Dahn is one of the pioneers of the lithium-ion battery.
While not yet a revenue generator, the company has benefited from the explosive growth expected out of the fast-moving global electric vehicle (EV) industry.
In December, Novonix announced preliminary results from an environmental impact study; they show the company’s synthetic graphite EV and energy storage system (ESS) battery anode product offers an approximate 60 percent decrease in CO2 emissions, potentially making it “2.5 times better for the environment than Chinese synthetic graphite EV and ESS battery anode material,” as per the Market Herald.
2. Oneview Healthcare
Market cap: AU$114.57 million; year-to-date gain: 488.89 percent
Oneview Healthcare’s (ASX:ONE) interactive software platform offers digital tools to healthcare providers, patients and families to improve point of care outcomes.
This past spring, the global healthcare tech company launched its cloud-based care platform. “Deployed on Microsoft Azure, this platform enables health systems to quickly adopt technology for engaging patients, reducing non-clinical demands on care teams and optimising clinical and operational effectiveness,” notes a press release.
Oneview has signed a number of contracts for the use of this platform, including with Omaha’s Children’s Hospital and Medical Center, Northern Health in Melbourne and Kingman Regional Medical Center in Arizona. In late November, Oneview raised AU$20 million in a private placement with plans to use the funds to further product development, scale its cloud enterprise and strengthen its balance sheet.
Market cap: AU$105.86 million; year-to-date gain: 318.48 percent
Emyria (ASX:EMD) is a healthcare technology company that specializes in data-backed drug development and operates a network of medical clinics. Using proprietary clinical evidence, the company develops registered treatments for underserved medical needs.
Emyria’s current drug development programs center on cannabidiol (CBD) medicines for mental health, CBD/THC treatments for irritable bowel syndrome and MDMA treatments for post-traumatic stress disorder.
In late November, one of Australia’s largest private investment groups, Tattarang, made a AU$5 million investment in Emyria, which will help the company further advance its drug development work.
4. PlaySide Studios
Market cap: AU$445.38 million; year-to-date gain: 139.13 percent
PlaySide Studios (ASX:PLY) develops mobile games, virtual reality, augmented reality and PC games. The company’s portfolio consists of 52 titles, including original intellectual property games, as well as games developed with the worlds’ largest studios, such as Disney (NYSE:DIS), Warner Bros and Nickelodeon.
PlaySide Studios is Australia’s largest publicly listed gaming technology company, and following its 2020 initial public offering, it generated revenue of AU$10.88 million for the 2021 fiscal year. In November, the company inked a landmark deal with 2K Games, a label of Take-Two Interactive Software (NASDAQ:TTWO).
In the last weeks of 2021, PlaySide signed a number of deals, including a contract with Shiba Inu Games and a partnership with One True King to co-develop a PC-based game, which will also provide access to One True King's 21 million global followers.
5. Universal Biosensors
Market cap: AU$175.98 million; year-to-date gain: 127.59 percent
Last on this list of best ASX tech stocks is medical device technology company Universal Biosensors (ASX:UBI), which develops, manufactures and commercializes diagnostic testing systems for point-of-care providers and at-home use. It has products for blood glucose monitoring, coagulation testing, immunoassays and molecular diagnostics.
“UBI’s biosensor technology platform has been used to deliver more than 10 billion diagnostic tests to patients worldwide generating billions of dollars in sales,” states a company presentation. “We have licensed and partnered new technology and new biosensors with global applications.”
In November, Universal Biosensors signed a three year master collaboration agreement with Mayo Clinic Biopharma Diagnostics. The deal includes work on Universal Biosensors’ Tn antigen cancer biosensor. In late December, the company entered into a global exclusive license agreement with IQ Science for the commercialization of a SARS-CoV-2 N-protein detection test that will use Universal Biosensors' proprietary electrochemical strip and device technology.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Looking for the best-performing cobalt stocks on the ASX? Here's a look at the three top gainers of 2021.
Cobalt prices have soared this past year, with investors paying more attention to this battery metal.
A large reason for cobalt’s bullish behaviour is that it is used to manufacture lithium-ion batteries, which power electric vehicles (EVs) — as demand for EVs continues to rise, it's likely cobalt demand will remain strong too.
Currently the future of EVs looks bright — the market is growing quickly and is expected to boom over the next decade. In the first half of 2021 alone, EV sales ballooned by 160 percent, and by the end of the year, a total of 15 countries had announced measures to begin transitioning toward an all-electric future.
The three top cobalt-producing countries worldwide are the Democratic Republic of Congo, Russia and Australia — the last of which is investing in ramping up its production of the metal.
With that in mind, which Australian cobalt miners gained the most value in 2021? Read on to learn more about the three best cobalt companies on the ASX by year-to-date share price gains. All information was obtained on December 30, 2021, using TradingView's stock screener.
1. Jervois Global
Year-to-date gain: 63.89 percent; current share price: AU$0.59
Jervois Global (ASX:JRV) is best known for its Finland operations, which produce cobalt for chemical, catalyst, pigment, powder metallurgy and — most significantly — battery applications. The company is currently in the process of launching its new Idaho Cobalt Operations (ICO) and is on track to become the first US cobalt miner.
On December 15, Jervois announced an update on ICO, saying first ore is expected in August 2022, with sustainable production expected by December 2022. The estimated capital expenditure required to stay on schedule has risen to US$99.1 million, up from US$92.6 million, with mine engineering 64 percent complete.
2. Cobalt Blue Holdings
Year-to-date gain: 177.78 percent; current share price: AU$0.50
Cobalt Blue Holdings (ASX:COB) is a rare cobalt-only company, and defines itself by its planned ethical and sustainable extraction and production processes. The firm's flagship New South Wales-based Broken Hill project is slated to produce an average of 3,500 to 3,600 tonnes per year of cobalt once in operation.
In December 2021, Cobalt Blue Holdings announced it has executed a memorandum of understanding with the State of Queensland, acting through the Department of Resources, to assess opportunities for the recovery of cobalt (as well as any coexisting base and precious metals) from mine waste.
3. Australian Mines
Year-to-date gain: 31.25 percent; current share price: AU$0.21
Australian Mines (ASX:AUZ) is aiming to supply metals to the growing EV industry, with a focus on ethical and sustainable production. Its flagship Queensland-based Sconi nickel-cobalt project boasts a mine life of over 30 years and will be capable of processing 2 million tonnes of ore annually.
In late October, Australian Mines reported on its quarterly activities, including an agreement for Korea-based LG Energy Solution, a top global producer of EV batteries, to buy 100 percent of the Sconi project’s nickel-cobalt hydroxide output over an initial six year term. The future agreement indicates that LG Energy Solution will buy a projected 7,000 tonnes of cobalt from Australian Mines over the six year period.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Isabel Armiento, hold no direct investment interest in any company mentioned in this article.
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