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Melissa Pistilli
Cobalt in Australia
Cobalt prices have been trending up this past year, with analysts remaining bullish on the key raw material, which is used in electric vehicle (EV) batteries. Demand is soaring as the electronics industry comes to rely on cobalt, and its use will only increase as the world continues to digitise and electrify.
EV sales are on the rise, and these vehicles require lithium-ion batteries to run. Typically around 9 kilograms of cobalt are used to manufacture each battery, and one battery alone can have as much as 20 kilograms. As long as demand for EVs continues to go up, so too will demand for cobalt — and the EV boom has only just begun.
Cobalt is also key in several different alloys with a variety of uses, including in gas turbine engines and magnets. Particularly tough cobalt alloys, such as tungsten carbide and chromium-cobalt, can be used to cut and drill steel.
So where should keen investors look for exposure to this promising metal? The Democratic Republic of Congo (DRC) has long been the top producer of cobalt worldwide; according to the US Geological Survey, it accounted for about 70 percent of cobalt production in 2021.
However, the DRC’s mining industry is known for unsustainable mining practices and unchecked labour abuses, including child labour. The country cannot maintain its current level of production indefinitely, and many conscious investors are seeking more ethical alternatives.
Australia is one such alternative. Australia contains about 18 percent of global cobalt reserves, but is currently responsible for only about 3 percent of global cobalt output. Between the country’s sustainable mining practices and its de-risked ventures, Australia is a great pick for shrewd investors interested in the cobalt-mining industry.
Cobalt in Australia: The history of cobalt mining
Cobalt has been used since antiquity for its bright blue colouration, but the metal was only officially discovered in 1742 by Swedish chemist Georg Brandt.
Up until 1874, European mineral deposits were the primary sites of cobalt production. That year, Europe was overtaken by New Caledonia, and in 1905 Canadian deposits pulled ahead. Since around 1920, the DRC has been a major global producer of cobalt, and its cobalt-mining legacy has continued to this day. Another contemporary cobalt behemoth, China, has only made its mark as a leading producer within the last couple of decades.
In the early 20th century, cobalt’s primary application began shifting away from cosmetic purposes and toward technological pursuits. For example, in 1930, cobalt alloys containing a mixture of cobalt, aluminium, nickel and iron were first used to make high-powered permanent magnets. Other alloys were soon discovered to have varied uses for building electrical equipment and electronic devices.
Cobalt is mainly found in compounds, such as cobalt arsenide, cobalt sulfarsenide and hydrated arsenate, and it is predominantly used for alloy production. Generally, cobalt does not come from cobalt mines — in fact, 98 percent of global cobalt is a by-product from nickel and copper mines. Copper mines account for about 60 percent of global cobalt output, and nickel mines around 38 percent.
Cobalt in Australia: The Australian landscape
According to Australia’s 2020 list of critical minerals projects, there are 68 cobalt-focused projects across Australia.
The largest is Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Murrin Murrin nickel-cobalt mine, which launched in 1998 and is located in the Northeastern Goldfields region of Western Australia. The mine produces an impressive 66.7 percent of the country’s cobalt. Unlike other mines, many of which suffered a decline in cobalt output during the pandemic, Murrin Murrin experienced an uptick in production, which rose 14 percent year-over-year in 2020.
Murrin Murrin uses conventional open-pit mining for its resource extraction, and it processes and refines cobalt ore on site. In 2021, the mine produced about 30,100 tonnes of nickel, alongside 2,500 tonnes of cobalt by-product.
In 2021, Glencore produced a total of around 31,300 tonnes of cobalt between all of its operations, including those in the DRC. In addition to production, the company also processes and recycles cobalt-containing materials.
Another notable cobalt project in the country is the Broken Hill cobalt project, a new mining endeavour owned by Cobalt Blue Holdings (ASX:COB,OTC Pink:CBBHF). This project is unique for its emphasis on cobalt production — cobalt will be directly produced on site, rather than extracted as a by-product of nickel.
The Broken Hill project is anticipated to have an output of around 4,000 tonnes of cobalt annually over a 20 year mine lifespan. Broken Hill’s cobalt production process will include concentration, leaching, calcining and project recovery, and the site expects annual sulphur output of 300,000 tonnes, which will hike up the project’s value.
Importantly, Broken Hill will both produce and refine its cobalt — a welcome change from sending the raw material to another country, most often China, for refinement. This practice will reduce the unethical labour practices along the chain of production.
Many other top cobalt-producing companies have active sites in Australia, including Panoramic Resources (ASX:PAN,OTC Pink:PANRF), Australian Mines (ASX:AUZ,OTCQB:AMSLF) and Clean TeQ Holdings (ASX:CNQ). These ventures are all top nickel miners and strong producers of cobalt as a by-product.
Cobalt in Australia: The future down under
The Australian government is enthusiastic about the country’s move toward mining critical minerals, establishing a Critical Minerals Facilitation Office in January 2020 as part of a push for its burgeoning minerals sector.
Currently, Australia is the third biggest producer of cobalt worldwide, at 5,600,000 tonnes in 2021.
According to a 2020 report by Fitch Solutions, cobalt mining in Australia continues to look up. It predicts that the next decade will see a spike in Australian cobalt production, with expected average output growth of 5.3 percent per year from 2021 to 2029, as compared to average output growth of only 2.4 percent between 2010 and 2020.
Moreover, despite the fact that Australia is the third largest cobalt producer worldwide, it has the second largest reserves of cobalt. This means that the country has the potential to scale up its production slowly and sustainably, situating itself as a major world player.
Between the exploding EV market and the continued trend toward electronics sales and digitization, cobalt will likely remain a hot commodity in the mining world for years to come. Investors should be paying close attention to cobalt production, and particularly to cobalt mining in Australia, where strong cobalt output, new mining ventures and sustainable extraction practices are setting the country up for long-term success.
This is an updated version of an article first published by the Investing News Network in 2021.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Australia is the world's third biggest producer of cobalt, and as companies look for ethical cobalt sources outside the DRC, the country's role will continue to grow.
5 Biggest ASX Oil and Gas Stocks in 2022
Oil and natural gas prices have gone on a tear in 2022 as demand for energy hits pre-COVID-19 levels and the war between Russia and Ukraine sparks supply concerns.
Even though global governments are looking to transition to cleaner energy sources, oil and natural gas are expected to be an essential part of the world’s energy mix for years to come.
With compelling reasons to enter the oil and natural gas sector, what's the best way for Australian investors to get exposure? The biggest ASX-listed oil and gas stocks by market cap are one place to start.
Data for the list below was obtained on March 16, 2022, using TradingView’s stock screener. All market cap and share price data was accurate at that time.
1. Woodside Petroleum
Market cap: AU$30.01 billion
As the biggest ASX oil and gas stock by market cap, Woodside Petroleum (ASX:WPL) leads the country in natural gas production and is considered a pioneer in Australia’s liquefied natural gas (LNG) industry.
In 2021, the company’s natural gas production accounted for 5 percent of global LNG supply, and Woodside recorded full-year net profit after tax of US$1.98 billion for the year. Later in 2022, shareholders are set to vote on a merger with BHP's (ASX:BHP,NYSE:BHP,LSE:BHP) oil and gas business.
2. Santos
Market cap: AU$24.47 billion
Australian energy company Santos (ASX:STO) is the country’s second biggest oil and gas producer. The ASX-listed firm supplies its products to markets located across Australia and Asia.
Santos recently partnered with SK E&S and others to jointly develop carbon capture and storage (CCS) projects in Australia. “Already partners in the Barossa Gas Project and Darwin LNG, the agreement further strengthens the deep and expanding relationship between SK E&S and Santos,” said Santos Managing Director and CEO Kevin Gallagher in a press release. “We look forward to progressing this partnership to develop and commercialise CCS projects in our region on our path to a lower-emissions future.”
3. Beach Energy
Market cap: AU$3.47 billion
Oil and gas exploration and production company Beach Energy (ASX:BPT) has a diverse portfolio, with onshore and offshore oil and gas production in five basins across Australia and New Zealand.
Early in 2022, the company announced that the first two wells of its offshore Otway Basin campaign had been connected to the Otway gas plant and were delivering gas to market. According to Beach Energy, the new wells have doubled the plant’s production capacity to 180 terajoules per day.
4. Karoon Energy
Market cap: AU$1.21 billion
Global oil- and gas-centric company Karoon Energy (ASX:KAR) has assets in Australia, Brazil and Peru. The company is focused on continued growth through a broad pipeline of exploration and development projects.
After completing its first year as an oil producer, Karoon brought in AU$29.1 million in profit for the first half of its 2022 fiscal year. Its underlying net profit after tax rose from AU$12.9 million in the prior corresponding period.
5. Senex Energy
Market cap: AU$857.37 million
Last on this list of the biggest ASX oil and gas stocks is Senex Energy (ASX:SXY), which touts itself as a low-carbon Australian natural gas producer. The company’s Surat Basin assets in Southern Queensland contribute around 20 petajoules of natural gas per year to the market.
Senex’s results for the first half of its 2022 fiscal year include natural gas production of 10.2 petajoules and sales revenue of $74.1 million, an increase of 65 percent over the same period in the previous year.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
How can Australian investors get exposure to oil and gas? The biggest ASX-listed stocks in the industry are one way to get started.
Best 5 ASX Copper Stocks of 2022
The copper price hit a record high in 2021, and analysts expect prices for the red metal to remain high. This strong copper market has been a boon for ASX copper stocks.
Copper prices rallied to above US$10,700 per tonne during the second quarter of last year on higher demand as the economy began opening back up following strict COVID-19 restrictions.
Although the copper outlook is tainted by a slowing real estate sector in China, demand for electric vehicles and renewable energy is expected to boost copper use in China and globally in 2022.
Several Australian copper stocks are performing well in this copper price environment.
Here the Investing News Network looks at the best ASX copper stocks of 2022 by year-to-date share price performance. The best ASX copper stocks list below was generated on February 9, 2022, using TradingView’s stock screener, and all copper stocks listed had market caps above AU$30 million at that time.
1. Alara Resources
Year-to-date gain: 233.33 percent; current share price: AU$0.08
First on this list of best ASX copper stocks is base and precious metals explorer and developer Alara Resources (ASX:AUQ). The company has projects in the Middle East, including the Al Washi-hi Majaza copper-gold project in Oman and the Khnaiguiyah zinc-copper project in Saudi Arabia.
Alara owns a 51 percent equity interest in Al Washi-hi Majaza, where initial mining activities, including pre-stripping of waste, began in early February. Ore mining is expected to start at the asset in the June quarter, with consistent ore recovery following toward the end of the year.
2. Critical Resources
Year-to-date gain: 189.47 percent; current share price: AU$0.11
Base metals-focused Critical Resources (ASX:CRR) has properties in Oman and Australia. The company's Sohar copper project in Oman has a JORC resource of 819,000 tonnes at 3.4 percent copper, equivalent to 28,000 tonnes of copper metal, and zinc and other base metals were historically mined at its Halls Peak project in New South Wales. Aside from those assets, Critical Resources holds lithium projects in Canada.
In early February, Critical Resources reported zinc, copper, lead and silver assay results from two extensional holes completed at Halls Peak's Gibsons prospect.
3. Cannindah Resources
Year-to-date gain: 82.35 percent; current share price: AU$0.31
With a focus on copper and gold, Cannindah Resources (ASX:CAE) is reviewing strategies for its New South Wales-based Mount Cannindah project, which holds a large porphyry-style copper-molybdenum-gold mineralised system. The company is also looking to move forward with exploration at its Piccadilly gold project in Queensland.
In late January, Cannindah Resources shared results from a vertical hole in the northern part of Mount Cannindah. Results include 81 metres at 0.3 percent copper, 0.6 grams per tonne gold and 22.5 grams per tonne silver.
4. Celsius Resources
Year-to-date gain: 50 percent; current share price: AU$0.03
Exploration and development company Celsius Resources (ASX:CLA) has a portfolio of copper and gold assets located in the Philippines, Namibia and Australia.
At its Maalinao-Caigutan-Biyog copper-gold project in the Philippines, the company completed a positive scoping study in December 2021 showing a 25 year mine life, a payback period of 2.7 years and a pre-tax internal rate of return of 35 percent. Drilling is also underway at Celsius’ other Philippines property, the Sagay copper-gold project.
5. Bougainville Copper
Year-to-date gain: 29.51 percent; current share price: AU$0.395
Bougainville Copper (ASX:BOC) states that its main goal is to work with communities in Papua New Guinea and the country's government to resume copper, gold and silver mining and exploration at the Panguna mine.
Panguna has been inactive since 1989, and while it was important to the nation's economy it has also been a source of controversy. There hasn't been any news from the company so far in 2022.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.
Copper hit a record high in 2021, boosting copper companies even into 2022. Here are the best copper stocks on the ASX so far this year.
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Table of Contents
- The Future of Tech in Australia
- Tech Unicorns in Australia
- 5 Best ASX Technology Stocks
A Sneak Peek At What The Experts Are Saying
“Australia can help lead the world's next wave of innovation, harnessing technology to improve lives, create jobs, and make progress.”
— Alphabet and Google CEO Sundar Pichai
“The interactive games and esports market accounted for 5.9 percent of the total Australian entertainment and media market in 2020. By 2025, this share is expected to grow to 6.8 percent, making gaming one of the sectors with the highest rate of growth.”
— PwC Australia
“The technology sector has gone from strength to strength, and is now the second largest on the exchange by number of listed companies. The Australian market is no longer known for its banks and mines alone.”
— Deloitte
Who We Are
The Investing News Network is a growing network of authoritative publications delivering independent, unbiased news and education for investors. We deliver knowledgeable, carefully curated coverage of a variety of markets including gold, cannabis, biotech and many others. This means you read nothing but the best from the entire world of investing advice, and never have to waste your valuable time doing hours, days or weeks of research yourself.
At the same time, not a single word of the content we choose for you is paid for by any company or investment advisor: We choose our content based solely on its informational and educational value to you, the investor.
So if you are looking for a way to diversify your portfolio amidst political and financial instability, this is the place to start. Right now.
Best 5 ASX Gold Stocks (Updated February 2022)
Click here to read the latest best ASX gold stocks article.
2021 was a disappointing year for gold, but analysts remain optimistic on the outlook for 2022.
By the end of 2021, the gold price had shed 6 percent after an impressive 2020. Heading into the new year, the metal continues to trade in a choppy sideways pattern, fighting to stay around the US$1,800 per ounce level.
Even so, experts see momentum for the yellow metal moving forward due to factors like continued global economic uncertainty related to the COVID-19 pandemic. Demand for gold jewelry, gold bars and coins, and the metal’s use in the technology sector are still going strong, and supply is also a growing concern due to decreased gold exploration efforts in recent years, especially among larger companies.
In this gold price environment, a number of Australian gold stocks are performing well despite the headwinds.
Here the Investing News Network looks at the best ASX gold stocks of 2022 by year-to-date share price performance. The best ASX gold stocks list below was generated on February 7, 2022, using TradingView’s stock screener, and all gold stocks listed had market caps above AU$30 million at that time.
1. Xantippe Resources
Year-to-date gain: 120 percent; current share price: AU$0.011
Xantippe Resources (ASX:XTC) is focused on Western Australia's Southern Cross region, which is widely known for its past gold production. The precious metals explorer's Southern Cross project is made up of 20 prospecting licences and six exploration licences, and holds a number of key priority prospects.
A slew of work was completed at Southern Cross in 2021, although more recently Xantippe has been working on expanding into the lithium space in both Argentina and Bolivia.
2. Minrex Resources
Year-to-date gain: 97.67 percent; current share price: AU$0.085
Minrex Resources’ (ASX:MRR) assets include five gold and base metals projects in Western Australia, four of which are in the mineral-rich East Pilbara region.
The company started off the year with high-grade gold drilling results from its work on the Queenslander gold prospect within its Sofala project. The prospect is centered around the past-producing Queenslander mine.
3. Pacgold
Year-to-date gain: 67.59 percent; current share price: AU$0.905
Gold exploration company Pacgold (ASX:PGO) owns the Alice River gold project in North Queensland. The company has identified high-grade gold targets along a 30 kilometer corridor in a historically producing goldfield.
Most recently, Pacgold’s exploration team announced the expansion of a newly discovered high-grade gold zone along strike of the historical open pit on the property. The company’s exploration work at Alice River is guided by the mineralisation model for the Donlin gold deposit in Alaska.
4. Ardiden
Year-to-date gain: 54.55 percent; current share price: AU$0.017
Ardiden’s (ASX:ADV) flagship asset is the district-scale Pickle Lake gold project located within the prolific gold-mining district of Northwestern Ontario. The 870 square kilometer land package hosts three existing gold deposits and 22 other identified brownfield and greenfield gold prospects.
A 4,000 meter exploration campaign is now underway on the western hub of the Pickle Lake gold project. Ardiden also has a free carried 49 percent interest in a lithium joint venture project in Ontario with Green Technology Metals (ASX:GT1) and owns a 4.9 percent equity holding in that company.
5. Aston Minerals
Year-to-date gain: 47.62 percent; current share price: AU$1.99
Gold explorer Aston Minerals (ASX:ASO) is moving forward at its Edleston gold project, located in the Cadillac-Larder Lake fault zone of Canada's Abitibi greenstone belt. Edleston is its flagship asset, and according to the company, it is the first in over a decade to drill in this area.
Aston continues to focus on gold at Edleston, but the Boomerang nickel-cobalt target has come to the forefront in recent months, with the company announcing the results of its maiden hole there in early December.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.
The gold price is trading lower than some market watchers would prefer, but the top-performing ASX gold stocks so far this year are making leaps.
5 Top ASX Rare Earth Stocks
2021 was an exciting year for rare earths companies and the sector as both demand and prices for the materials remained high. Analysts are showing plenty of optimism for the rare earths market in 2022.
Rare earth elements are key metals for high-tech applications, including permanent magnets, which have widespread potential, especially in the technology and electric vehicle sectors.
One major trend expected in 2022 is that end users will be looking to secure rare earth supplies from sources outside of China. That’s good news for rare earths companies in Australia.
For those interested in jumping into the market, here's a look at the five largest ASX-listed rare earths stocks by market cap. Read on to learn more about these companies and how they are positioning themselves in the rare earths sector. Data for this article was gathered via TradingView's stock screener on January 13, 2022.
1. Lynas
Current price: AU$11.24; market cap: AU$10.14 billion
Lynas (ASX:LYC) is the largest rare earths developer in Australia with a market cap of more than AU$10 billion. Focused on integrated delivery, Lynas is a miner and supplier of high-grade rare earths. According to the company, its Mount Weld project in Western Australia is one of the highest-grade rare earths mines in the world.
In 2011, Lynas commissioned its Mount Weld concentration plant, located just under 2 kilometers from the Mount Weld mine. Subsequently, in 2014, the critical metals miner established the Lynas Advanced Materials Plant (LAMP), an integrated manufacturing facility near the Port of Kuantan in Malaysia. The LAMP was designed for the separating and processing of rare earth materials.
Reuters states that Lynas’ share price more than doubled in 2021, its best-performing year since 2017.
2. Iluka Resources
Current price: AU$11.16; market cap: AU$4.72 billion
Iluka Resources (ASX:ILU) has decades of experience in the mining industry, mostly in the production of zircon and the high-grade titanium dioxide feedstocks rutile and synthetic rutile. However, in recent years Iluka has developed an emerging portfolio of rare earths operations and projects.
Iluka’s Eneabba operation in Western Australia involves the extraction, processing and sale of a strategic monazite-rich mineral stockpile. The company is currently working on a feasibility study for a fully integrated rare earths refinery at Eneabba, which would produce separated rare earth oxides.
Iluka’s Wimmera project in the Australian state of Victoria hosts a fine-grained heavy mineral sands orebody that has the potential to provide long-term supply of zircon and rare earths. The rare earths-bearing minerals within this deposit are similar to the stockpiled minerals at Eneabba, meaning that in the future Wimmera could supplement feed to the downstream refining facility.
3. Arafura Resources
Current price: AU$0.23; market cap: AU$348.84 million
Arafura Resources (ASX:ARU) is advancing on the feasibility-stage Nolans neodymium and praseodymium (NdPr) project in the Northern Territory. The “shovel-ready” project has support from key government ministers.
Arafura has plans for Nolans to be a vertically integrated NdPr operation with processing facilities on site. The company believes the project has the potential to become a major supplier of critical metals to the high-performance neodymium (NdFeB) permanent magnet market.
In 2020, Arafura reported a “major” increase in mine life for the Nolans project thanks to an updated mine design. Nolans’ ore reserves increased by 54 percent to 29.5 million tonnes, supporting a 33 year mine life. The company expects to make a production decision in 2022.
4. Northern Minerals
Current price: AU$0.05; market cap: AU$262.49 million
Northern Minerals (ASX:NTU) is working to be a supplier of ethically produced rare earth metals and separated products. The country has a large land package comprised of three projects: the Browns Range and John Galt projects in Western Australia and the Boulder Ridge project in the Northern Territory.
At its wholly owned Browns Range project, Northern Minerals has built a pilot plant to test a number of deposits and prospects that contain high-value dysprosium and other heavy rare earths hosted in xenotime mineralization.
In early 2021, Northern Minerals raised AU$20 million through a financing to move its projects forward. At the close of the year, the company received a AU$4.3 million rebate from the Australian Tax Office as part of a government research and development program.
5. Vital Metals
Current price: AU$0.053; market cap: AU$220.77 million
Headquartered in Sydney, Vital Metals (ASX:VML) commenced operations at Northwest Territories-based Nechalacho in June 2021; it's billed as Canada’s first — and North America’s second — rare earths-producing mine. Vital Metals also holds the high-grade Wigu Hill rare earths project in Tanzania.
The company’s goal is to become the lowest-cost producer of mixed rare earth oxide outside of China. Vital aims to produce a minimum 5,000 tonnes of contained rare earth oxide at Nechalacho by 2025.
In October 2021, Vital Metals signed a memorandum of understanding with Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF) that will see Vital supply at least 500 tonnes per annum of cerium-depleted mixed rare earth chemical concentrate to Ucore’s ALASKA2023 endeavor beginning in the first half of 2024.
This is an updated version of an article originally published by the Investing News Network in 2018.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Read on to learn more about the five top rare earth stocks on the ASX by market cap.
5 Best ASX Technology Stocks
Australia is home to a thriving tech sector with fresh investment opportunities emerging across a variety of subsectors, such as gaming, fintech, healthcare and cleantech.
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.
1. Novonix
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.
3. Emyria
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.
Which ASX technology stocks performed the best in 2021? Here’s a look at the five top ASX technology stocks by share price performance.
