South Australian Stock Exchange Index June 2016 Brochure / Report Title Goes Here | Section Title Goes Here

South Australian Stock Exchange Index June 2016 Brochure / report title goes here | Section title goes here

Contents

Executive summary 03

Positive contributions to the Deloitte SA Index 05

Negative contributions to the Deloitte SA Index 06

Additions and removals from the Deloitte SA Index 07

Market wrap – 30 June 2016 08

South Australia’s share price performance 11

Comparison of the Deloitte SA Index and the S&P/ASX 200 Index 13

Companies included in the Deloitte SA Index as at 30 June 2016 15

Compilation of the Deloitte SA Index 19

About Deloitte 20

June 2016, Issue 41 South Australian Stock Exchange Index Published quarterly by Deloitte

Brought to you by: Stephen Adams Partner | Financial Advisory Market Leader – South Australia Tel: +61 8 8407 7025 e-mail: [email protected]

02 South Australian Stock Exchange Index

Executive summary

Welcome to the Deloitte South Australian Stock Exchange Quarterly Index (Deloitte SA Index) for 30 June 2016.

The Deloitte SA Index is a quarterly review We anticipate reverse takeovers (RTOs) of South Australian stocks. It is compiled will continue to be a viable option for from publicly available information aspiring ASX companies, as the relevant provided by the Australian Securities pools of capital continue to provide strong Exchange (ASX). The Deloitte SA Index valuation support for companies exposed is based on the market capitalisation to Australia’s next waves of growth, weighted share price performance of South namely agribusiness, tourism and Australian listed companies. The impact of international education. dividends and capital returns are excluded Stephen Adams It’s expected that changes in from the Index, which currently comprises Partner | Financial Advisory South Australia’s current economic 64 companies. Market Leader – South Australia composition will reflect the state’s relative The Deloitte SA Index has increased by competitive advantage in the next and 4.5% over the last 12 months, a significant future waves of growth, offsetting outperformance of the S&P/ASX 200, which declines in manufacturing and providing decreased by 4.1% over the same period. an environment for which innovative South Australian companies can attract The Deloitte SA Index increased by 3.5% capital for expansion. in the 2016 June quarter similar to a 3.0% increase in the S&P/ASX 200. Both Quarterly movements indices displayed moderate growth in April The Deloitte SA Index increased 3.5% and May but fell in June on the back of during the June quarter, compared to a uncertainties from global events. 3.0% increase for the S&P/ASX 200 over The absolute total market capitalisation of the same period. the state’s 64 listed companies increased by $1.73 billion (7.5%) during the June Six-month movements quarter, from $23.06 billion to The Deloitte SA Index increased by $24.79 billion. 2.3% during the six months to 30 June 2016, compared to a 1.2% decrease for the Throughout the 12 months to 30 June S&P/ASX 200 over the same period. 2016, a number of South Australian listed companies have entered and exited the Twelve-month movements Deloitte SA Index via reverse takeover. The The Deloitte SA Index increased by trend is underpinned by sustained declines 4.5% over the 12 months to 30 June 2016, in global resource markets that have compared to a 4.1% decrease for the resulted in reduced mining investment S&P/ASX 200 over the same period. and prompted a tilting of capital to momentum sectors such as food, healthcare and technology.

Stephen Adams Partner | Financial Advisory Market Leader – South Australia

03 South Australian Stock Exchange Index

The most recent reverse takeovers involving South Australian listed companies

ASX New ASX Activities Activities Transaction Date company company pre-RTO post-RTO status

Brand New Manufacture, marketing and Development of online and Jun-16 Dawine Limited In progress Vintage Limited distribution of wine mobile wine distribution platform

Gooroo Ventures Exploration and development May-16 Petratherm Limited Human resources technology Abandoned Limited of geothermal energy products

Mar-16 Raya Group Limited Xped Limited Geothermal project developer Technology Complete

Naracoota Resources Alcidion Group Feb-16 Exploration of minerals Medical information technology Complete Limited Limited

Crest Minerals Food Revolution Gold exploration and Food manufacturing and Feb-16 Complete Limited Group Limited prospecting production

Red Gum Resources MCS Services Dec-15 Exploration of minerals Security services Complete Limited Limited Reproductive Biotechnology research and Apr-14 AO Energy Limited Health Science Exploration of minerals Complete development Limited

04 South Australian Stock Exchange Index

Positive contributions to the Deloitte SA Index

Over the last quarter, 34 of the 64 South quarter finalising the acquisition of Australian listed companies positively Liothyronine rights from Perrigo Company contributed to the Deloitte SA Index. plc and announcing the acquisition of a The major contributors to the Index during U.S Generic Product Portfolio from Teva this quarter include Adelaide Brighton Pharmaceuticals Industries, a deal valued Limited, Mayne Pharma Group Limited at $888 million. and OZ Minerals Limited. OZ Minerals Limited (OZ Minerals) was the Adelaide Brighton Limited (Adelaide third largest positive contributor (1.2%) to Brighton) was the largest positive the Deloitte SA Index over the quarter. contributor (4.5%) to the Deloitte SA A recent addition to the Deloitte SA Index, Index over the quarter. Adelaide Brighton OZ Minerals relocated its registered office is an importer, distributor and marketer to South Australia in July 2015. OZ Minerals of cement and concrete products. owns and operates the Prominent copper- Adelaide Brighton has produced gold mine and the Carrapateena copper- significant growth this quarter through its gold mine in South Australia. involvement in a number of high profile infrastructure projects in South Australia, On an absolute share price performance as well as implementation of a cost basis, the companies that recorded the reduction program. largest percentage share price increases for the three months to 30 June 2016 were: Mayne Pharma Group Limited (Mayne •• Pepinnini Minerals Limited, which Pharma) was the second largest positive increased by 342.9%, from $0.007 per contributor (2.1%) to the Deloitte SA Index share to $0.031 per share; over the quarter. Mayne Pharma is a •• Magnetite Mines Limited, which pharmaceutical company specialising in increased by 187.5%, from $0.016 per drug delivery expertise with capabilities share to $0.046 per share; and in research and development as well as manufacturing. Mayne Pharma has •• Flinders Mines Limited, which increased experienced a particularly successful by 100%, from $0.013 per share to $0.026 per share. Table 1: Largest positive contributions to the Deloitte SA Table 2: Largest share price Index in the 2016 June quarter increases in the 2016 June quarter

Company Performance Company Performance Adelaide Brighton Limited 4.5% Pepinnini Minerals Limited 342.9% Mayne Pharma Group Limited 2.1% Magnetite Mines Limited 187.5% OZ Minerals Limited 1.2% Flinders Mines Limited 100.0% Highfield Resources Limited 0.5% Adelaide Resources Limited 90.9%

Ellex Medical Lasers Limited 0.5% Investigator Resources 88.9% Ramelius Resources Limited 0.4% Limited Santos Limited 0.3% Tychean Resources Limited 80.0% Kangaroo Island Plantation 0.2% PNX Metals Limited 63.6% Timbers Limited Codan Limited 54.3%

Source: Deloitte analysis, ASX, Capital IQ Source: Deloitte analysis, ASX, Capital IQ

05 South Australian Stock Exchange Index

Negative contributions to the Deloitte SA Index

The largest negative contributions on a The companies that recorded the largest market capitalisation basis to the Deloitte percentage share price decreases for SA Index for the 2016 June quarter came the 2016 June quarter were Petratherm from Prophecy International Holdings Limited, Sundance Energy Australia Limited Limited, Sealink Travel Group Limited, and and Core Exploration Limited. Bionomics Limited. Table 3: Largest negative contributions to the Deloitte SA Table 4: Largest share price Index in the 2016 June quarter decreases in the 2016 June quarter

Company Performance Company Performance Prophecy International (4.0%) Petratherm Limited (42.9%) Holdings Limited Sundance Energy Australia (41.2%) SeaLink Travel Group (0.7%) Limited Limited Core Exploration Limited (35.3%) Bionomics Limited (0.4%) Prophecy International (32.7%) Beach Energy Limited (0.3%) Holdings Limited Leigh Creek Energy Limited (0.1%) Leigh Creek Energy Limited (29.6%) Cooper Energy Limited (0.0%) UraniumSA Limited (25.0%) Pepinnini Minerals Limited (0.0%) MGM Wireless Limited (25.0%) Asian American Medical (0.1%) Group Limited E & A Limited (24.7%)

Source: Deloitte analysis, ASX, Capital IQ Source: Deloitte analysis, ASX, Capital IQ

06 South Australian Stock Exchange Index

Additions and removals from the Deloitte SA Index

The following companies were added to or removed from the Deloitte SA Index during the 2016 June quarter.

Additions: Removals:

No companies were added to iBosses Corporation Limited (IB8) the Deloitte SA Index in the iBossess Corporation Limited June 2016 quarter. exited the Deloitte SA Index through a change of registered office to Victoria.

07 South Australian Stock Exchange Index

Market wrap – 30 June 2016

Companies listed in the Deloitte SA Index have been divided into the categories listed in the table below for the purposes of the quarterly market wrap.

Market capitalisation Nano cap Less than $50 million Micro cap $50 million to $300 million Small cap $300 million to $2 billion Mid cap $2 billion to $10 billion

Large cap $10 billion to $200 billion Mega cap Market capitalisation of $200 billion and greater

Table 5: Major movements in market capitalisation in each category

Increases Jun 2016 Mar 2016 Mkt cap % change in % change in Company name ($m) ranking ranking Jun 2016 share price mkt cap 1 1 Santos Limited 8,235.1 15.1% 15.7% Mid cap 3 3 Adelaide Brighton Limited 3,618.6 9.9% 10.0% 2 2 Argo Investments Limited 5,009.7 1.4% 1.4% 7 8 Highfield Resources Limited 427.4 12.7% 12.7% 4 4 OZ Minerals Limited 1,707.1 12.3% 11.8% Small cap 5 6 Mayne Pharma Group Limited 1,296.1 26.6% 6.5% 9 9 Elders Limited 338.8 (4.9%) 3.5% 21 29 Flinders Mines Limited 76.6 100.0% 100.9% 12 15 Codan Limited 209.1 54.3% 54.4% 18 20 Ellex Medical Lasers Limited 109.0 22.4% 29.8% Micro cap 19 22 Cooper Energy Limited 93.6 (10.4%) 16.8% Beston Global Food Company 15 16 148.9 15.5% 15.5% Limited 46 61 Pepinnini Minerals Limited 8.4 342.9% 446.3% 54 58 Magnetite Mines Limited 4.8 187.5% 96.7% Nano cap 49 54 Adelaide Resources Limited 7.4 90.9% 92.8% 37 44 Investigator Resources Limited 15.7 88.9% 88.9% 59 62 Tychean Resources Limited 2.6 80.0% 80.0%

08 South Australian Stock Exchange Index

Decreases Jun 2016 Mar 2016 Mkt cap % change in % change in Company name ($m) ranking ranking Jun 2016 share price mkt cap 6 5 Beach Energy Limited 1,135.0 (6.9%) (6.9%) Small cap 8 7 SeaLink Travel Group Limited 412.7 (4.9%) (4.9%) 24 19 Sundance Energy Australia Limited 62.7 (41.2%) (34.2%) Prophecy International Holdings 22 18 73.3 (32.7%) (32.7%) Limited Micro cap 14 12 K & S Corporation Limited 159.0 (21.4%) (21.4%) 11 10 Terramin Australia Limited 215.5 (20.0%) (20.0%) 26 25 Leigh Creek Energy Limited 50.5 (29.6%) (18.7%) 58 50 Petratherm Limited 3.1 (42.9%) (42.9%) 44 40 E & A Limited 9.6 (24.7%) (24.7%) 53 47 MGM Wireless Limited 5.6 (25.0%) (24.6%) Nano cap 41 39 Rex Minerals Limited 11.2 (23.9%) (23.9%) Asian American Medical Group 29 28 29.8 (9.1%) (23.7%) Limited

Source: Deloitte analysis, ASX, Capital IQ

Table 6: Major movements in market capitalisation for the three months ended 30 June 2016 ($m) Market Capitalisation of the Deloitte SA Index as at 31 March 2016 23,058 Total Inclusions - Total Removals (5) New SA inclusions/(removals) for June 2016 quarter (5) Santos Limited 1,116.8 Adelaide Brighton Limited 328.7 OZ Minerals Limited 180.7 Mayne Pharma Group Limited 79.1

Major Increases Codan Limited 73.7 (Δ > +$20 million) Argo Investments Limited 68.0 Highfield Resources Limited 48.2 Flinders Mines Limited 38.5 Ramelius Resources Limited 27.0 Ellex Medical Lasers Limited 25.0 Beach Energy Limited (83.7) Terramin Australia Limited (53.7)

Major Decreases K & S Corporation Limited (43.4) (Δ < -$20 million) Prophecy International Holdings Limited (35.5) Sundance Energy Australia Limited (32.6) SeaLink Travel Group Limited (21.1) Other Movements 17 Total increase/(decrease) 1,733 Market Capitalisation of the Deloitte SA Index as at 30 June 2016 24,786

Source: Deloitte analysis, ASX, Capital IQ

09 South Australian Stock Exchange Index

Table 7: Market capitalisation by industry as at 30 June 2016

Movement % Change % Change % Change % Change Number of Jun 2016 Mar 2016 % of Industry in quarter last 3 last 6 last 12 since companies $(m) $(m) Index $(m) months months months Jun 2005 Capital Goods 3 118 121 (3) 0.5% (2.6%) 18.6% (36.9%) (85.0%) Consumer services 1 413 439 (26) 1.7% (5.9%) 10.1% 146.0% - Diversified Financials 3 5,421 5,328 93 21.9% 1.7% (7.2%) 2.0% 109.4% Energy 9 9,543 8,530 1,013 38.5% 11.9% 30.7% (0.5%) 35.9% Food Beverage 3 508 495 13 2.0% 2.6% (5.5%) 14.9% (69.7%) & Tobacco Health Care 5 178 161 17 0.7% 10.5% 37.6% 146.0% 1,041.1% Equipment & Services Materials 31 6,642 6,074 568 26.8% 9.4% 18.9% 76.1% 363.8% Media 1 14 15 (1) 0.1% (5.3%) (10.0%) 34.2% - Pharmaceuticals, Biotechnology & 2 1,433 1,371 62 5.8% 4.5% 8.9% 51.1% 1,798.2% Life Sciences Real Estate 1 20 20 - 0.1% - (2.0%) (19.3%) (83.7%) Semiconductors & Semiconductor 1 49 50 (1) 0.2% (2.2%) (10.4%) (13.8%) 20.5% Equipment Software & Services 2 79 116 (37) 0.3% (32.1%) (40.9%) (13.5%) 18.1% Technology Hardware 1 209 135 74 0.8% 54.4% 73.7% (1.9%) (9.4%) & Equipment Transportation 1 159 202 (43) 0.6% (21.4%) (5.7%) 2.4% (24.7%) Total 64 24,786 23,058 1,728 100.0% 7.5% 14.2% 17.8% 42.4%

Source: Deloitte analysis, ASX, Capital IQ

10 South Australian Stock Exchange Index

South Australia’s share price performance

Figure 1: Monthly performance to 30 June 2016, top eight gains

Hillgrove Resources Limited

Magnetite Mines Limited

Pepinnini Minerals Limited

Tychean Resources Limited

PNX Metals Limited

Mayne Pharma Group Limited

Iron Road Limited

Ramelius Resources Limited 0% 10% 20% 30% 40% 50% 60% 70% 80%

Source: Deloitte analysis, ASX, Capital IQ

Figure 2: Quarterly performance to 30 June 2016, top eight gains

Pepinnini Minerals Limited

Magnetite Mines Limited

Flinders Mines Limited

Adelaide Resources Limited

Investigator Resources Limited

Tychean Resources Limited

PNX Metals Limited

Codan Limited

0% 50% 100% 150% 200% 250% 300% 350% 400%

Source: Deloitte analysis, ASX, Capital IQ

Figure 3: Yearly performance to 30 June 2016, top eight gains

Magnetite Mines Limited

Ramelius Resources Limited

Ellex Medical Lasers Limited

LBT Innovations Limited

Kangaroo Island Plantation Timbers Limited

Mayne Pharma Group Limited

Marmota Energy Limited

SeaLink Travel Group Limited 0% 50% 100% 150% 200% 250% 300% 350%

Source: Deloitte analysis, ASX, Capital IQ

11 South Australian Stock Exchange Index

Figure 4: Monthly performance to 30 June 2016, bottom eight

Centrex Metals Limited

MGM Wireless Limited

Minotaur Exploration Limited

Petratherm Limited

Rex Minerals Limited

Leigh Creek Energy Limited

Archer Exploration Limited

Sundance Energy Australia Limited

(45%) (40%) (35%) (30%) (25%) (20%) (15%) (10%) (5%) 0%

Source: Deloitte analysis, ASX, Capital IQ

Figure 5: Quarterly performance to 30 June 2016, bottom eight

E & A Limited

MGM Wireless Limited

UraniumSA Limited

Leigh Creek Energy Limited

Prophecy International Holdings Limited

Core Exploration Limited

Sundance Energy Australia Limited

Petratherm Limited

(50%) (40%) (30%) (20%) (10%) 0%

Source: Deloitte analysis, ASX, Capital IQ

Figure 6: Yearly performance to 30 June 2016, bottom eight

Beach Energy Limited

Clean Seas Tuna Limited

Valence Industries Limited

Rex Minerals Limited

E & A Limited

Tychean Resources Limited

MGM Wireless Limited

Sundance Energy Australia Limited

(90%) (80%) (70%) (60%) (50%) (40%) (30%) (20%) (10%) 0%

Source: Deloitte analysis, ASX, Capital IQ

12 South Australian Stock Exchange Index

Comparison of the Deloitte SA Index and the S&P/ASX 200 Index

The Deloitte SA Index outperformed 4.0% decrease by Prophecy International the S&P/ASX 200 Index during the three Holdings Limited, and a 0.7% decrease by months to 30 June 2016. The Deloitte SA Sealink Travel Group Limited. Index increased by 3.5%, compared to the S&P/ASX200, which increased by 3.0%. For the six months to 30 June 2016, the Deloitte SA Index outperformed the S&P/ The largest positive contributions to the ASX 200, recording an increase of 2.3% Deloitte SA Index for the quarter came compared to a decrease of 1.2% for the from a 4.5% increase in Adelaide Brighton S&P/ASX 200. Limited and a 2.1% increase by Mayne Pharma Group Limited. For the twelve months to 30 June 2016, the Deloitte SA Index outperformed the S&P/ The largest negative contributions on a ASX 200, recording an increase of 4.5% market capitalisation basis to the Deloitte compared with a decrease of 4.1% for the SA Index for the quarter came from a S&P/ASX 200.

Table 8: Percentage change in major indices

Last 12 Last 6 Last 5 Last 4 Last 3 Last 2 Last Index name months months months months months months month Deloitte SA Index 4.5% 2.3% 5.3% 4.9% 3.5% (0.4%) (1.5%) S&P/ASX 200 (4.1%) (1.2%) 4.6% 7.2% 3.0% (0.4%) (2.7%)

Source: Deloitte analysis, ASX, Capital IQ

Figure 7: Percentage change to 30 June 2016 – Deloitte SA Index vs. S&P/ASX 200 Index

2.400

2.200

2.000

1.800

1.600

1.400

1.200

1.000

0.800

0.600 Base=1 as at 30 June 2005

0.700

11 11 11 11 Jun 20 Jun 2006 Jun 2007 Jun 2008 Jun 2009 Jun 2010 Jun 2013 Jun 2014 Jun 2015 Jun 2016 Jun 2005 Jun 2012 Sep 20 Sep 2005 Sep 2006 Sep 2007 Sep 2008 Sep 2009 Sep 2010 Sep 2012 Sep 2013 Sep 2014 Sep 2015 Dec 20 Dec 2005 Dec 2006 Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Mar 20 Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2012

S&P/ASX 200 Deloitte SA Index Source: Deloitte analysis, ASX, Capital IQ

13 South Australian Stock Exchange Index

Figure 8: Percentage change to 30 June 2016 – Deloitte SA Index (including Santos) vs. Deloitte SA Index (excluding Santos) vs. S&P/ASX 200 Index

2.350

2.200

2.050

1.900

1.750

1.600

1.450

1.300

1.150

1.000

0.850 Base=1 as at 30 June 2005

0.700 1 1 11 Jun 20 Jun 2016 Jun 2015 Jun 2014 Jun 2013 Jun 2012 Jun 2010 Jun 2009 Jun 2008 Jun 2007 Jun 2006 Jun 2005 Sep 201 Sep 2015 Sep 2014 Sep 2013 Sep 2012 Sep 2010 Sep 2009 Sep 2008 Sep 2007 Sep 2006 Sep 2005 Dec 201 Dec 2015 Dec 2014 Dec 2013 Dec 2012 Dec 2010 Dec 2009 Dec 2008 Dec 2007 Dec 2006 Dec 2005 Mar 20 11 Mar 2016 Mar 2015 Mar 2014 Mar 2013 Mar 2012 Mar 2010 Mar 2009 Mar 2008 Mar 2007 Mar 2006

S&P/ASX 200 Deloitte SA Index Deloitte SA Index (excluding STO)

Source: Deloitte analysis, ASX, Capital IQ

Figure 9: Percentage change to 30 June 2016 – Deloitte SA Energy & Resources Index vs. S&P/ASX 200 Index

2.400

2.200

2.000

1.800

1.600

1.400

1.200

1.000

0.800

0.600 Base=1 as at 30 June 2005 0.400 1 1 1 1 Jun 201 Jun 2005 Jun 2006 Jun 2007 Jun 2008 Jun 2009 Jun 2010 Jun 2012 Jun 2013 Jun 2014 Jun 2015 Jun 2016 Sep 201 Sep 2005 Sep 2006 Sep 2007 Sep 2008 Sep 2009 Sep 2010 Sep 2012 Sep 2013 Sep 2014 Sep 2015 Dec 201 Dec 2005 Dec 2006 Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Mar 201 Mar 2006 Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016

S&P/ASX 200 Deloitte SA Energy & Resources Index

Source: Deloitte analysis, ASX, Capital IQ

14 South Australian Stock Exchange Index

Companies included in the Deloitte SA Index as at 30 June 2016

Table 9: Constituents of the Deloitte SA Index ranked by share price performance during the 2016 June quarter

Share price Share price High price Low price Change Change Rank Code Company Jun 2016 Mar 2016 12m 12m ($) (%) ($) ($) ($) ($) 1 PNN Pepinnini Minerals Limited 0.03 0.01 0.0 342.9% 0.05 0.01 2 MGF Magnetite Mines Limited 0.05 0.02 0.0 187.5% 0.05 0.01 3 FMS Flinders Mines Limited 0.03 0.01 0.0 100.0% 0.03 0.01 4 ADN Adelaide Resources Limited 0.02 0.01 0.0 90.9% 0.04 0.01 5 IVR Investigator Resources Limited 0.03 0.02 0.0 88.9% 0.05 0.01 6 TYK Tychean Resources Limited 0.01 0.01 0.0 80.0% 0.03 0.00 7 PNX PNX Metals Limited 0.02 0.01 0.0 63.6% 0.02 0.01 8 CDA Codan Limited 1.18 0.77 0.4 54.3% 1.29 0.53 9 MXR Maximus Resources Limited 0.00 0.00 0.0 50.0% 0.01 0.00 10 RHS Reproductive Health Science Limited 0.14 0.09 0.0 50.0% 0.21 0.08 11 MYX Mayne Pharma Group Limited 1.91 1.51 0.4 26.6% 2.06 0.93 Kangaroo Island Plantation Timbers 12 KPT 16.00 13.05 3.0 22.6% 16.00 6.95 Limited 13 ELX Ellex Medical Lasers Limited 0.96 0.78 0.2 22.4% 1.06 0.29 14 MOX Monax Mining Limited 0.01 0.01 0.0 20.0% 0.02 0.01 15 BFC Beston Global Food Company Limited 0.41 0.36 0.1 15.5% 0.63 0.30 16 STO Santos Limited 4.64 4.03 0.6 15.1% 8.31 2.46 17 MEP Minotaur Exploration Limited 0.06 0.05 0.0 14.8% 0.09 0.05 18 RMS Ramelius Resources Limited 0.44 0.38 0.1 14.5% 0.49 0.10 19 HFR Highfield Resources Limited 1.38 1.22 0.2 12.7% 2.04 1.03 20 OZL OZ Minerals Limited 5.65 5.03 0.6 12.3% 6.19 3.18 21 SAU Southern Gold Limited 0.28 0.25 0.0 10.0% 0.40 0.17 22 ABC Adelaide Brighton Limited 5.57 5.07 0.5 9.9% 5.71 4.00 23 LBT LBT Innovations Limited 0.15 0.14 0.0 7.4% 0.20 0.06 24 RNU Renascor Resources Limited 0.02 0.02 0.0 5.3% 0.03 0.01 25 AVG Australian Vintage Limited 0.57 0.54 0.0 4.6% 0.66 0.30 26 ALI Argo Global Listed Infrastructure Limited 1.84 1.80 0.0 1.9% 2.03 1.61 27 HGO Hillgrove Resources Limited 0.06 0.06 0.0 1.8% 0.23 0.03 28 ARG Argo Investments Limited 7.37 7.27 0.1 1.4% 8.50 7.13 29 BLY Boart Longyear Limited 0.09 0.09 0.0 1.1% 0.13 0.04 30 PAW Pawnee Energy Limited 0.00 0.00 - - 0.00 0.00 31 MEU Marmota Energy Limited 0.02 0.02 - - 0.04 0.01 32 THR Thor Mining PLC 0.00 0.00 - - 0.00 0.00 33 LSN Lawson Gold Limited 0.04 0.04 - - 0.06 0.03 34 AXI Axiom Properties Limited 0.05 0.05 - - 0.06 0.05

15 South Australian Stock Exchange Index

Share price Share price High price Low price Change Change Rank Code Company Jun 2016 Mar 2016 12m 12m ($) (%) ($) ($) ($) ($) 35 VXL Valence Industries Limited 0.12 0.12 - - 0.36 0.12 36 LGD Legend Corporation Limited 0.23 0.23 (0.0) (2.2%) 0.28 0.18 37 HAV Havilah Resources NL 0.37 0.39 (0.0) (3.9%) 0.50 0.19 38 KOV Korvest Limited 2.19 2.30 (0.1) (4.8%) 3.98 2.05 39 ELD Elders Limited 3.72 3.91 (0.2) (4.9%) 4.96 3.31 40 SLK SeaLink Travel Group Limited 4.08 4.29 (0.2) (4.9%) 4.85 2.10 China Integrated Media Corporation 41 CIK 0.18 0.19 (0.0) (5.3%) 0.20 0.18 Limited 42 BPT Beach Energy Limited 0.61 0.66 (0.0) (6.9%) 1.04 0.35 43 AJJ Asian American Medical Group Limited 0.10 0.11 (0.0) (9.1%) 0.13 0.06 44 COE Cooper Energy Limited 0.22 0.24 (0.0) (10.4%) 0.28 0.14 45 CSS Clean Seas Tuna Limited 0.03 0.04 (0.0) (10.5%) 0.07 0.03 46 BNO Bionomics Limited 0.29 0.32 (0.0) (10.9%) 0.59 0.27 47 PPY Papyrus Limited 0.01 0.01 (0.0) (11.1%) 0.02 0.01 48 ALC Alcidion Group Limited 0.04 0.05 (0.0) (13.7%) 0.09 0.04 49 MTH Mithril Resources Limited 0.01 0.01 (0.0) (14.3%) 0.02 0.00 50 CXM Centrex Metals Limited 0.07 0.08 (0.0) (14.5%) 0.10 0.06 51 IRD Iron Road Limited 0.11 0.13 (0.0) (15.4%) 0.18 0.06 52 AXE Archer Exploration Limited 0.07 0.09 (0.0) (19.1%) 0.12 0.07 53 TZN Terramin Australia Limited 0.12 0.15 (0.0) (20.0%) 0.23 0.09 54 KSC K & S Corporation Limited 1.32 1.68 (0.4) (21.4%) 1.77 0.96 55 SWJ Stonewall Resources Limited 0.01 0.01 (0.0) (23.1%) 0.02 0.01 56 RXM Rex Minerals Limited 0.05 0.07 (0.0) (23.9%) 0.11 0.04 57 EAL E & A Limited 0.07 0.09 (0.0) (24.7%) 0.20 0.07 58 MWR MGM Wireless Limited 0.65 0.86 (0.2) (25.0%) 1.84 0.60 59 USA UraniumSA Limited 0.02 0.02 (0.0) (25.0%) 0.03 0.01 60 LCK Leigh Creek Energy Limited 0.19 0.27 (0.1) (29.6%) 0.42 0.11 61 PRO Prophecy International Holdings Limited 1.15 1.70 (0.6) (32.7%) 2.53 1.00 62 CXO Core Exploration Limited 0.02 0.03 (0.0) (35.3%) 0.06 0.01 63 SEA Sundance Energy Australia Limited 0.10 0.17 (0.1) (41.2%) 0.55 0.06 64 PTR Petratherm Limited 0.00 0.01 (0.0) (42.9%) 0.01 0.00

Source: Deloitte analysis, ASX, Capital IQ

16 South Australian Stock Exchange Index

Table 10: Constituents of the Deloitte SA Index ranked by market capitalisation as at 30 June 2016 High Low Rank Rank Mkt cap Mkt cap Last Change Change price price Jun Jun Code Company Jun 2016 Jun 2015 price ($m) (%) 12m 12m 2016 2015 ($m) ($m) ($) ($) ($) 1 1 STO Santos Limited 8,235.1 7,858.0 377.2 4.8% 4.64 8.31 2.46 2 2 ARG Argo Investments Limited 5,009.7 5,314.2 (304.4) (5.7%) 7.37 8.50 7.13 3 3 ABC Adelaide Brighton Limited 3,618.6 2,796.7 821.9 29.4% 5.57 5.71 4.00 4 - OZL OZ Minerals Limited 1,707.1 - 1,707.1 - 5.65 6.19 3.18 5 5 MYX Mayne Pharma Group Limited 1,296.1 775.0 521.1 67.3% 1.91 2.06 0.93 6 4 BPT Beach Energy Limited 1,135.0 1,365.2 (230.1) (16.9%) 0.61 1.04 0.35 7 6 HFR Highfield Resources Limited 427.4 459.2 (31.9) (6.9%) 1.38 2.04 1.03 8 12 SLK SeaLink Travel Group Limited 412.7 167.8 244.9 146.0% 4.08 4.85 2.10 9 7 ELD Elders Limited 338.8 288.9 50.0 17.3% 3.72 4.96 3.31 Argo Global Listed Infrastructure 10 - ALI 262.6 - 262.6 - 1.84 2.03 1.61 Limited 11 10 TZN Terramin Australia Limited 215.5 183.1 32.4 17.7% 0.12 0.23 0.09 12 9 CDA Codan Limited 209.1 203.6 5.5 2.7% 1.18 1.29 0.53 13 20 RMS Ramelius Resources Limited 206.7 54.0 152.8 283.1% 0.44 0.49 0.10 14 13 KSC K & S Corporation Limited 159.0 155.3 3.7 2.4% 1.32 1.77 0.96 15 - BFC Beston Global Food Company Limited 148.9 - 148.9 - 0.41 0.63 0.30 16 11 BNO Bionomics Limited 137.1 173.6 (36.4) (21.0%) 0.29 0.59 0.27 17 15 AVG Australian Vintage Limited 131.2 84.8 46.4 54.8% 0.57 0.66 0.30 18 24 ELX Ellex Medical Lasers Limited 109.0 35.5 73.5 206.9% 0.96 1.06 0.29 19 16 COE Cooper Energy Limited 93.6 81.3 12.2 15.1% 0.22 0.28 0.14 20 14 BLY Boart Longyear Limited 84.4 101.9 (17.6) (17.3%) 0.09 0.13 0.04 21 21 FMS Flinders Mines Limited 76.6 44.2 32.4 73.3% 0.03 0.03 0.01 Prophecy International Holdings 22 17 PRO 73.3 69.3 4.0 5.8% 1.15 2.53 1.00 Limited 23 - IRD Iron Road Limited 65.2 - 65.2 - 0.11 0.18 0.06 24 8 SEA Sundance Energy Australia Limited 62.7 277.4 (214.7) (77.4%) 0.10 0.55 0.06 25 23 HAV Havilah Resources NL 62.2 37.0 25.2 68.1% 0.37 0.50 0.19 26 32 LCK Leigh Creek Energy Limited 50.5 18.4 32.1 174.0% 0.19 0.42 0.11 27 19 LGD Legend Corporation Limited 49.1 57.0 (7.9) (13.8%) 0.23 0.28 0.18 28 18 CSS Clean Seas Tuna Limited 37.6 65.2 (27.6) (42.4%) 0.03 0.07 0.03 29 30 AJJ Asian American Medical Group Limited 29.8 21.6 8.2 38.2% 0.10 0.13 0.06 Kangaroo Island Plantation Timbers 30 34 KPT 27.5 12.5 15.0 120.2% 16.00 16.00 6.95 Limited 31 22 KOV Korvest Limited 24.0 37.4 (13.4) (35.8%) 2.19 3.98 2.05

17 South Australian Stock Exchange Index

High Low Rank Rank Mkt cap Mkt cap Last Change Change price price Jun Jun Code Company Jun 2016 Jun 2015 price ($m) (%) 12m 12m 2016 2015 ($m) ($m) ($) ($) ($) 32 25 VXL Valence Industries Limited 22.9 33.8 (10.9) (32.4%) 0.12 0.36 0.12 33 28 CXM Centrex Metals Limited 20.5 23.9 (3.4) (14.3%) 0.07 0.10 0.06 34 27 AXI Axiom Properties Limited 20.3 25.1 (4.8) (19.3%) 0.05 0.06 0.05 35 46 SWJ Stonewall Resources Limited 17.4 5.1 12.2 239.2% 0.01 0.02 0.01 36 44 LBT LBT Innovations Limited 16.7 6.9 9.8 142.2% 0.15 0.20 0.06 37 - IVR Investigator Resources Limited 15.7 - 15.7 - 0.03 0.05 0.01 38 - ALC Alcidion Group Limited 14.8 - 14.8 - 0.04 0.09 0.04 China Integrated Media Corporation 39 36 CIK 14.3 10.6 3.6 34.2% 0.18 0.20 0.18 Limited 40 35 MEP Minotaur Exploration Limited 13.2 12.1 1.1 9.1% 0.06 0.09 0.05 41 29 RXM Rex Minerals Limited 11.2 23.2 (11.9) (51.4%) 0.05 0.11 0.04 42 - HGO Hillgrove Resources Limited 10.5 - 10.5 - 0.06 0.23 0.03 43 45 SAU Southern Gold Limited 10.1 6.9 3.2 46.6% 0.28 0.40 0.17 44 31 EAL E & A Limited 9.6 20.5 (11.0) (53.3%) 0.07 0.20 0.07 45 42 PNX PNX Metals Limited 9.1 7.1 2.0 27.9% 0.02 0.02 0.01 46 52 PNN Pepinnini Minerals Limited 8.4 3.3 5.1 153.1% 0.03 0.05 0.01 47 39 RHS Reproductive Health Science Limited 8.0 8.5 (0.5) (5.9%) 0.14 0.21 0.08 48 40 AXE Archer Exploration Limited 7.9 7.9 0.1 0.9% 0.07 0.12 0.07 49 43 ADN Adelaide Resources Limited 7.4 7.0 0.4 6.2% 0.02 0.04 0.01 50 55 MEU Marmota Energy Limited 7.0 2.8 4.3 154.9% 0.02 0.04 0.01 51 48 CXO Core Exploration Limited 6.0 3.9 2.0 52.3% 0.02 0.06 0.01 52 49 RNU Renascor Resources Limited 5.7 3.9 1.8 46.0% 0.02 0.03 0.01 53 33 MWR MGM Wireless Limited 5.6 14.6 (9.0) (61.6%) 0.65 1.84 0.60 54 50 MGF Magnetite Mines Limited 4.8 3.9 0.9 23.8% 0.05 0.05 0.01 55 59 MOX Monax Mining Limited 3.6 1.7 1.9 112.7% 0.01 0.02 0.01 56 56 MTH Mithril Resources Limited 3.4 2.3 1.1 46.9% 0.01 0.02 0.00 57 51 USA UraniumSA Limited 3.4 3.6 (0.2) (6.6%) 0.02 0.03 0.01 58 58 PTR Petratherm Limited 3.1 1.7 1.4 79.8% 0.00 0.01 0.00 59 47 TYK Tychean Resources Limited 2.6 4.9 (2.3) (47.4%) 0.01 0.03 0.00 60 60 LSN Lawson Gold Limited 2.1 1.5 0.5 35.5% 0.04 0.06 0.03 61 57 MXR Maximus Resources Limited 1.9 1.7 0.1 8.2% 0.00 0.01 0.00 62 62 PPY Papyrus Limited 1.6 1.5 0.1 7.0% 0.01 0.02 0.01 63 61 THR Thor Mining PLC 1.5 1.5 0.0 0.6% 0.00 0.00 0.00 64 64 PAW Pawnee Energy Limited 0.0 0.0 - - 0.00 0.00 0.00

Source: Deloitte analysis, ASX, Capital IQ

18 South Australian Stock Exchange Index

Compilation of the Deloitte SA Index

Compilation of the Deloitte SA Index real estate; and technology, media and For more information regarding the The quarterly Deloitte SA Index is compiled telecommunications. Focused on the Deloitte SA Index, please contact: from publicly available information creation of value and growth, and known Stephen Adams provided by the ASX on the share prices as an employer of choice for innovative Partner and market capitalisation of each human resources programs, we are Financial Advisory South Australian listed company. dedicated to helping our clients and Tel: +61 8 8407 7025 our people excel. Our professionals are e-mail: [email protected] A company is included on the Deloitte SA dedicated to strengthening corporate Index if its registered office is in South responsibility, building public trust, Clarence Fok Australia. Dual-listed companies are not and making a positive impact in Senior Analyst included in the Deloitte SA Index. The their communities. Financial Advisory information on South Australian listed Tel: +61 8 8407 7388 companies is extracted to provide a market Our Adelaide practice continues to grow e-mail: [email protected] capitalisation weighted share price index with over 220 dedicated personnel for all South Australian companies broadly including 19 partners. We provide high Kathryn Fritz in line with the methodology adopted for quality service to our clients throughout Analyst the compilation of the S&P/ASX 200 Index. South Australia, delivering seamless Financial Advisory The impact of dividends and capital solutions and the insights that they need Tel: +61 8 8407 7128 returns has been excluded from the to address their most complex business e-mail: [email protected] Deloitte SA Index. challenges. The strong performance Emily Easling culture of the Adelaide office is attributed Analyst The base period of the Deloitte SA Index to Deloitte’s seven Signals, representing Financial Advisory is 30 June 2005, and for the purposes of who we are and how we do business. the Index this month is given a notional Tel: +61 8 8407 7090 value of one. Please note, if a company has Disclaimer of liability e-mail: [email protected] been delisted during a particular period, This Index has been prepared as general no data will be included for that month and information only and does not consider all subsequent months until the company the specific objectives,situation or needs is relisted. Historical information regarding of anyone including any member of its the company will continue to be included in target audience. You should not rely on the the calculation of the Deloitte SA Index. information in the Index or disclose it or refer to it in any document. About Deloitte Adelaide As one of Australia’s leading professional Deloitte does not accept any duty of services firms, Deloitte Touche Tohmatsu care or liability to anyone regarding this and its affiliates provide audit, tax, Index or any of its content and we are consulting and financial advisory not responsible to anyone for any loss services through approximately 6,000 suffered in connection with the use of people across the country. We have this index or any of its content. We make expertise that spans across industry no representation or warranty about the sectors including automotive; consumer accuracy of the information in the Index. business; energy and resources; financial Circumstances might have changed since services; government services; life the date this Index was prepared. sciences and health care; manufacturing;

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