The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL), AKA Soul Patts, share price is currently down more than 3% today.

That means it has declined by around 9% since Tuesday. The S&P/ASX 200 Index (ASX: XJO) has only fallen around 1% in that same time period.

As an investment conglomerate, the underlying portfolio value of Soul Patts can be influenced by the changing values of its investments.

Looking at some its biggest investments today, there are declines across the board.

The TPG Telecom Ltd (ASX: TPG) share price is down 0.2%, the Brickworks Limited (ASX: BKW) share price is down 2% and the New Hope Corporation Limited (ASX: NHC) share price has fallen 2.2%.

What else could be influencing the Soul Patts share price this week?

One of the other larger investments in the Soul Patts portfolio is a holding of Australian Pharmaceutical Industries Ltd (ASX: API) shares.

API featured in the news this week after receiving a bigger takeover bid from Wesfarmers Ltd (ASX: WES) which, at this stage, it intends to accept. The revised offer is $1.55 per share, a 37% premium to API’s one-month volume weighted average price $1.133 per share to 9 July 2021, prior to the initial offer by Wesfarmers.

Soul Patts has agreed to vote its 19.3% shareholding in API in favour of Wesfarmers’ revised proposal. The investment conglomerate has also granted a call option for its API shares in favour of Wesfarmers.

FY21 profit update

The Soul Patts share price is now essentially back to where it was on 6 September 2021. What’s special about that date? It’s when the ASX 200 company announced an update regarding its FY21 regular profit.

Within that, there were three mentions of profit growth and one detractor.

First, Soul Patts referenced that New Hope disclosed in its latest quarterly report that the miner expects to make earnings before interest, tax, depreciation and amortisation (EBITDA) of $372 million for FY21, primarily as a result of thermal coal prices currently being at a 10-year high.

Second, Brickworks is expecting to report record earnings from its property division, driven by the value of its property trust.

Finally, Round Oak, a wholly owned mining business, is expected to report a regular net profit for FY21 of between $64 million to $68 million. Management described this expected result as a significant improvement on the FY20 net loss of $43 million. There were two factors for this turnaround. One, commodity prices (mostly zinc and copper) have improved. Second, the company moved from development into production at a number of its mines.

Soul Patts is expecting FY21 regular net profit to be in the range of $316 million to $336 million, up from $170 million in FY20.

However, TPG will provide a reduced contribution after the merger between TPG and Vodafone in July 2020. The investment conglomerate will no longer equity account for its share of TPG’s net profit. Soul Patts also noted it only received one dividend from TPG in FY21, amounting to $18 million (compared to the equity accounted profit of $72 million in FY20).

Soul Patts dividend yield snapshot

At the current Soul Patts share price, it currently has a grossed-up dividend yield of 2.4%.

The post The Soul Patts (ASX:SOL) share price is down 3% on Friday appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Brickworks. The Motley Fool Australia owns shares of and has recommended Brickworks, Washington H. Soul Pattinson and Company Limited, and Wesfarmers Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Audinate Group Ltd (ASX: AD8) share price is edging higher in today’s session.

Shares in the audio tech company are currently up 0.19% to $10.56. This comes after the company released its annual report earlier today.

Let’s take a closer look at what’s buoying the Audinate share price.

What did Audinate announce?

Shares in Audinate are rising after the company released its annual report for FY21.

The company’s management lauded Audinate’s emergence from the uncertainty of the COVID-19 pandemic.

However, Audinate said supply chain uncertainties could impact the first half of FY22. As of 30 June 2021, the company noted record backlogs due to the temporary shutdown of its manufacturing line in Malaysia.

Despite the disruptions, Audinate does not expect new product delays to impact revenue given the ongoing strong demand from end-users.

For FY22, the company highlighted several priorities including;

• Driving further design wins for Dante video and next generation software products;
• Launching new Dante video software and cloud services products;
• Improving adoption of Dante by non-English speakers; and
• Implementing business scalability initiatives.

The positive annual report follows Audinate’s strong full-year report released late last month.

How did Audinate perform in FY21?

The Audinate share price bolted higher after the release of the company’s full-year results for FY21.

The company’s result was highlighted by a 22.5% increase in revenue of $33.4 million.

Other highlights included:

• Gross profit increased 23.1% to US$19.2 million compared to prior year;
• Earnings before interest, tax, depreciation, and amortisation (EBITDA) of A$3 million, up 50.1%;
• Bottom line losses narrowed to A$3.4 million, a 17% improvement on FY20; and
• Expanded into video products with launch of Bolin Technology and Patton Electronics.

Audinate attributed its strong report to a 62% surge in revenue from its software products. Additionally, the company also reported narrowing losses on its bottom line.

Snapshot of the Audinate share price

Audinate specialises in hardware and software solutions for the audio-visual (AV) market. The company’s flagship and award-winning Dante program is a global leader in AV connectivity.

Since the start of the year, shares in Audinate have soared by around 29%.

The Audinate share price is bucking the trend of the broader market today. At the time of writing, the All Ordinaries Index (ASX: XAO) is down 0.56%, while Audinate shares are up 0.19%.

The post Audinate (ASX:AD8) share price lifts on annual report appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AUDINATEGL FPO. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is selling off on Friday, down 0.5% to 7,421 at the time of writing. In morning trade, it dipped as low as 7,382 points.

Amid the red, the S&P/ASX Information Technology (INDEXASX: XIJ) index stands tall, up 1.43%. Its performance is headlined by none other than the Afterpay Ltd (ASX: APT) share price.

At the time of writing, shares in the ASX’s largest tech stock are up 2.9% to $127.12.

How come the Afterpay share price is shooting green on Friday?

Nasdaq finishes mixed overnight session in positive territory

The ASX 200 might be influenced by the mixed overnight performance of Wall Street.

The Dow Jones Industrial Average and S&P 500 both fell 0.18% and 0.15% respectively, while the tech-heavy Nasdaq rose 0.13%.

The Nasdaq managed to stay in positive territory, supported by the likes of Amazon.com, Inc (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT), Netflix Inc (NASDAQ: NFLX) and Tesla Inc (NASDAQ: TSLA) all eking out small gains of less than 1%.

Afterpay’s US-listed rival is surging

Perhaps more relevant for the Afterpay share price was the overnight performance of Affirm Holdings Inc (NASDAQ: AFRM).

Affirm shares rallied 7.13% overnight and have surged more than 75% since 27 August.

On 9 September, Affirm released its fourth-quarter results. Its revenue jumped 70.7% year-on-year to US$261.8 million vs. consensus expectations of US$225 million, according to CNBC.

In addition, the company gave encouraging guidance for the current quarter. It expects revenue to be between US$240 million and US$250 million.

This could be a positive takeaway for the Afterpay share price, given Affirm is the largest BNPL provider in the United States.

Square share price lifts overnight

The Square Inc (NASDAQ: SQ) share price also rallied overnight, up 2.53% to US$255.09.

The Afterpay share price has largely been tracking the performance of Square ever since the $39 billion takeover offer on 2 August.

The scheme implementation deed will see Afterpay shareholders receive a fixed exchange ratio of 0.375 shares of Square Class A common stock for each Afterpay share they own on the record date.

After Square’s overnight performance, this values the Afterpay share price at approximately $122.57 at today’s exchange rates. That’s up from yesterday’s $119.58.

The post ASX 200 tumbles but the Afterpay (ASX:APT) share price is green? appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Affirm Holdings, Inc., Amazon, Microsoft, Netflix, Square, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Amazon and Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Venture Minerals Limited (ASX: VMS) share price is deep in the red in early afternoon on Friday. This comes after the mineral exploration company provided an update in regards to the Riley Iron Ore Mine in Tasmania.

At the time of writing, Venture Minerals shares are down a massive 33.77% to 5.1 cents. This means that its shares are now trading at a 6-month low.

What did Venture Minerals announce?

According to its release, Venture Minerals advised it has completed its first ever commercial shipment of iron ore from its Riley Iron Ore Mine.

The shipment comprised 45,632 tonnes of iron ore with an average grade of 57.3% Fe. A discharge port in China as designated by the company’s off-take partner, Prosperity Steel will receive the shipment. It’s expected that Venture Minerals will collect around $5.1 million in the next fortnight under its offtake agreement.

While this is good news, the company provided a concerning operational update, which has caused its shares to fall.

As such, Venture Minerals stated that 62% of Fe iron ore prices have declined significantly in the past few months. Once reaching highs of US$230 per tonne, the current market rate is hovering just above US$100 per tonne.

Furthermore, the company’s 57% Fe grade ore has been heavily discounted to a market rate of 30%. This is a stark contrast to when its iron ore was trading at just a 10% market rate discount.

Venture Minerals’ woes have been amplified with the volatile shipping market caused by congestion at Chinese ports, COVID-19, and political impacts. The shipping rates for iron ore have tripled since 2019 from US$18 per tonne to the current rate of US$54 per tonne.

In response to the above conditions, the company is conducting a full review of its Riley Iron Ore Mine operations. Management hopes to identify cost efficiency measures to offset some of the external market volatility.

While some of the external pressures are expected to be temporary, Venture Minerals has decided to suspend mining operations. It aims to preserve existing capital while it works through its review and assesses the situation.

About the Venture Minerals share price

Over the past 12 months, Venture Minerals has gained almost 50% despite today’s significant drop. However, when looking at year-to-date, its shares are down around 7% for the period.

Venture Minerals presides a market capitalisation of roughly $68 million and has 1.3 billion shares on issue.

The post Venture Minerals (ASX:VMS) share price crashes 33% on project update appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Mineral Resources Limited (ASX: MIN) share price is on course to end the week deep in the red.

At the time of writing, the mining and mining services company’s shares are down 7% to $48.92.

This means the Mineral Resources share price has now fallen 25% from its July high of $65.38.

Why is the Mineral Resources share price sinking?

The weakness in the Mineral Resource share price has been driven by a pullback in iron ore prices.

Mineral Resources has exposure to iron ore via its Iron Valley Iron Ore operation in the Pilbara and its Koolyanobbing iron ore deposit in the Yilgarn.

According to CommSec, the spot iron ore price fell US$6.90 or 6.1% to US$106.50 a tonne during overnight trade. This is being driven by declining Chinese steel production.

It was thanks largely to sky high iron ore prices that the company reported a 230% increase in underlying net profit after tax to $1,103 million in FY 2021. As a result, the recent weakness in prices appears to have investors concerned that its profits could take a hit in FY 2022.

Is this a buying opportunity?

According to a note out of Macquarie from last week, its analysts appear to see the recent pullback by Mineral Resources’ shares as a buying opportunity.

The note reveals that its analysts have an outperform rating and $77.00 price target on the company’s shares.

Based on the current Mineral Resources share price, this implies potential upside of 57% over the next 12 months.

And if you include dividends, the potential return on offer gets even juicier. Macquarie has pencilled in fully franked dividends per share of $2.57 in FY 2022 and then $2.29 in FY 2023. These represent yields of 5.2% and 4.7%, respectively, over the next two financial years.

Macquarie likes Mineral Resources due to it offering strong iron ore price leverage and production growth. It also considers the company a key preference for lithium exposure thanks to its huge Wodgina Lithium Operation. Wodgina is one of the largest known hard rock lithium deposits in the world.

All in all, this could make Mineral Resources’ shares one to consider when the dust settles.

The post The Mineral Resources (ASX:MIN) share price is down 7% today. Is it a buy? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Toro Energy Limited (ASX: TOE) share price is sliding lower on Friday.

Shares in the Aussie uranium exploration and production company are down 8.16% to 4.5 cents this morning having surged 19.5% higher on Thursday.

Why the Toro Energy share price is sliding 8% on Friday

Toro Energy is one ASX resources company that may not be on every investor’s radar. The Aussie small-cap boasts a market capitalisation of $171 million and largely focuses on uranium deposits in Western Australia.

Shares in the ASX uranium share surged higher yesterday after two key updates. One was a deposit reserve update, the other was Australia’s new nuclear-powered submarine deal. That announcement from US President Joe Biden came as part of the AUKUS trilateral security agreement.

The Toro Energy share price closed 19.5% higher on Thursday afternoon following the updates. Toro’s Lake Maitland Uranium Deposit Study update noted the vanadium resource is “currently being integrated into the uranium resource block model ready for optimisation”.

The big news pushing ASX uranium shares higher on Thursday, however, was arguably the AUKUS deal. Shares in Aussie uranium companies jumped higher following the 7am AEST announcement of the historic agreement.

The Toro Energy share price was no exception, leaping 23.8% higher at the market open as investors looked to speculate on uranium shares. That’s despite no indication of individual companies being involved in any submarine-building deals.

However, Friday morning has seen the ASX uranium share fall in a hangover of sorts from yesterday. There have been no new announcements from the company but that hasn’t stopped Toro Energy shares from correcting more than 8% to end the week.

However, Toro shares are still up 125% so far this year, and 350% over the past 12 months.

The post Toro Energy (ASX:TOE) share price slides 8% following yesterday’s surge appeared first on The Motley Fool Australia.

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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is down 0.54% in early afternoon trade, at $27.72 per share.

That’s a tad better than the broader S&P/ASX 200 Index (ASX: XJO), down 0.82% at the same time.

It’s been a bit over 4 months now since ANZ reported its half-year results for the 6 months ending 31 March.

Below is a brief recap of those results, and a look at how the ANZ share price has been tracking since the bank’s report.

What half year results did the big 4 bank report?

The ANZ share price was on investors’ radars on 5 May, when the bank reported its half-year results before the market open.

Some of the key takeaways from the results were a statutory profit after tax of $2.94 billion. That was up 45% from the prior corresponding period (pcp).

The bank also reported a return on equity (ROE) of 9.7%. And cash earnings from continuing operations of $2.99 billion were up 28% compared to the pcp.

Investors were also rewarded with a fully franked interim dividend of 70 cents per share.

Commenting on the bank’s results and outlook, ANZ’s CEO, Shayne Elliott said:

ANZ is in a strong position both financially and operationally. We are well capitalised and our disciplined approach to costs over many years has us well placed to invest in opportunities to grow our business in targeted segments. The work to digitise core processes and platforms continues at pace and this will be more visible to customers towards the end of the year.

What’s happened to the ANZ share price since reporting?

The ANZ share price closed down 3.2% on 5 May, the day the bank reported. This came despite the bank broadly beating consensus analyst expectations.

Since the market close on 4 May, the ANZ share price is down 3.41%. By comparison, the ASX 200 index is up 4.7% over that same time.

The post How has the ANZ share price performed since reporting results? appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Electro Optic Systems Holdings Ltd (ASX: EOS) share price is having a rough month on the ASX.

The company’s share price tumbled on the back of its half-year results and it hasn’t managed to recover since.

This time last month, the Electro Optic Systems share price closed at $4.12. At the time of writing, it’s $3.59, having fallen 0.83% this morning. That represents a 12.8% tumble over the course of a single month.

Could the technology company‘s half-year report really have caused such a plummet? Let’s take a look.

What’s weighing on the tech company’s shares?

Electro Optic Systems’ stock has been struggling these last few weeks.

The source of its troubles might be the company’s half-year results, which were released on 30 August.

The company reported its revenue for the 6 months ended 30 June 2021 had increased 30% on that of the prior comparable period. Additionally, the company’s statutory earnings before interest and tax also increased 58%, while its operating cash flow reached $4.6 million.

However, Electro Optic Systems reported an operating loss after tax of $11.7 million. Though, that was better than the prior comparable period’s $14.2 million loss.

The Electro Optic Systems share price plunged 4.4% on the day its results were announced, before falling another 9.7% the following day. So far, it has only managed to scrape back 1.4%.

While it could be easy to blame Electro Optic Systems’ half-year results for its recent poor performance, there are also short sellers to factor into the equation.

As The Motley Fool Australia regularly reports, Electro Optic Systems is often among the ASX’s most shorted shares.

In fact, last week 9.2% of the company’s shares were in short positions.

Electro Optic Systems share price snapshot

Its poor performance over the last month has added to Electro Optic Systems’ stock’s struggles.

It’s currently 38.9% lower than it was at the start of 2021. It has also fallen 31.6% since this time last year.

The post Why has the Electro Optic Systems (ASX:EOS) share price slumped 13% in a month? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The IntelliHR Ltd (ASX: IHR) share price is taking a dive today, down 10.34% at 26 cents. Although, in early trade, shares reached a low of 24 cents apiece.

This follows the completion of the data analytics company’s recent $11.5 million placement.

What’s impacting the IntelliHR share price today?

In a release to the market this morning, IntelliHR informed investors of its successful capital raising. The placement was conducted at 23 cents per share — receiving “very strong” interest.

According to the announcement, the capital raising gained the backing of a number of leading Australian and offshore institutional and sophisticated investors.

The offer price represented a steep 20.7% discount to the last close price of 29 cents. This significant discount, coupled with the share count being diluted by roughly 18%, is likely contributing to the IntelliHR share price weakness today.

Approximately 50 million new IntelliHR shares at the issue price of 23 cents were allocated, resulting in $11.5 million being raised in total before costs.

These funds will be put towards various drivers for the continued growth of the IntelliHR business. These include expanding its global integrations and referral partnership channels; accelerating growth in domestic and global customer business development; and building out enterprise customer platform capabilities.

Additionally, approximately 6.5 million existing shares were divested by managing director Robert Bromage. Despite this selldown, Bromage remains the second-largest shareholder in the company, holding approximately 21 million IntelliHR shares. The sale is said to be for funding the purchase of a residential property.

Bromage commented on the placement that is likely affecting the intelliHR share price:

Thanks to record global organic growth during FY21 and recent channel partnership successes, this capital raising presented us with the opportunity to introduce a number of leading Australian and international institutional investors onto the register.

With intelliHR continuing to invest in accelerating global growth, the introduction of these investors onto the register will strongly support our growth aspirations given their SaaS [software as a service] sector investing track record and significant funds under management.

What’s next?

The issuing of approximately 46.38 million shares will be conducted on or around 27 September 2021. These are not subject to shareholder approval.

However, the 3.62 million new shares placed with IntelliHR’s largest shareholder, Colinton Capital Partners, will be subject to shareholder approval. In fact, shareholders will vote on it at the annual general meeting in November.

The intelliHR share price is down by around 50% since the start of the year but is up by about 28% in the past 12 months.

Based on the current IntelliHR share price, the company’s market capitalisation stands at around $89.4 million when accounting for dilution.

The post Here’s why the IntelliHR (ASX:IHR) share price is plunging 10% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. The benchmark index is currently down 0.85% to 7,396.2 points.

Here’s what is happening on the ASX 200 today:

Fortescue shares weigh on ASX 200

Fortescue Metals Group Limited (ASX: FMG) shares and other mining giants are weighing heavily on the ASX 200 today. Due partly to another heavy decline in the iron ore price overnight, Fortescue’s shares are down over 9%. Also weighing on the company’s shares is a broker note out of UBS this morning. According to the note, the broker has downgraded its shares to a sell rating and cut the price target on them to a lowly $15.00.

IRESS takeover talks end

The IRESS Ltd (ASX: IRE) share price is sinking today after takeover talks with EQT collapsed. This morning the financial technology company advised that discussions between it and EQT have now concluded and the parties have been unable to agree a transaction. EQT had tabled a non-binding offer of $15.91 cash per share.

Gold miners fall

Many of Australia’s leading gold miners, such as Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM), have fallen today after the gold price dropped to a one-month low. According to CNBC, the spot gold price is down 2.3% to US$1,754.10 an ounce. Better than expected economic data in the US put pressure on the precious metal. The S&P/ASX All Ordinaries Gold index is down 3.4% at lunch.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Pointsbet Holdings Ltd (ASX: PBH) share price with a 5% gain. A number of tech shares are rising today after a positive night on the Nasdaq index. The worst performer has been the IRESS share price with an 11% decline following its takeover collapse.

The post ASX 200 (ASX:XJO) midday update: Fortescue crashes, IRESS sinks appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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