External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Macroeconomics

<ul><li>A combination of slight foreign funds outflow and local funds selling has driven a JCI correction of -0.8% wow.</li><li>Foreign funds flow returned to negative, albeit relatively lighter (at -US$169mn) compared to prior weeks.</li><li>The outflow was still dominated by the large-cap banks with coal stock AADI also among the top-5 stocks sold by foreign investors.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

A combination of slight foreign funds outflow and local funds selling has driven a JCI correction of -0.8% wow.Foreign funds flow returned to negative, albeit relatively lighter (at -US$169mn) compared to prior weeks.The outflow was still dominated by the large-cap banks with coal stock AADI also among the top-5 stocks sold by foreign investors.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Market Pulse: Chart of the Week – China Coal Inventory at Port

External broker reports(aggregated public sources), MNC Sekuritas

MNC Sekuritas

MNC Sekuritas, the first wholly-owned subsidiary established by the Group back in 1989, provides a complete range of services, from equity, fixed income, investment banking to providing research to optimize clients’ investments. Thus far, the company has more than 140 points of sales with over 100,000 clients. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>China's coal inventory reached its peak in Sep-24 at 642.4mn tons, marking a robust demand of +22.7% YoY (Exhibit 01).</li><li>This was supported by import volume of +11.9% YoY (Indonesia: +2.1% YoY, accounting for 43.3% of total imports), amid a moderate growth in coal thermal output +1.0% YoY in 9M24.</li><li>This increase aligns with policies aimed at enhancing energy security and rising consumption trends that have been evident over the past two years.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China's coal inventory reached its peak in Sep-24 at 642.4mn tons, marking a robust demand of +22.7% YoY (Exhibit 01).This was supported by import volume of +11.9% YoY (Indonesia: +2.1% YoY, accounting for 43.3% of total imports), amid a moderate growth in coal thermal output +1.0% YoY in 9M24.This increase aligns with policies aimed at enhancing energy security and rising consumption trends that have been evident over the past two years.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Breaking Down the Mining News of the Day, Money of Mine

Money of Mine

Breaking Down the Mining News of the Day

An ex-underground miner, an ex-investment banker, and an ex-equity research guy breaking down the mining news of the day. It's a bit of entertainment, information, and occasionally some alpha.

Equity Bottom-Up

Peabody Energy Corporation mines and markets low sulfur coal, primarily for use by electric utilities. The Company also trades coal and emission allowances. Peabody owns and operates mines in Arizona, Colorado, New Mexico and Wyoming, Illinois, Indiana, and Australia.

<ul><li>WA government announces $150 million package for lithium miners, including waiving government fees for two years</li><li>Package also includes a $50 million loan facility for interest-free loans to sustain operations</li><li>While the news did not significantly impact stock prices, it provides some relief and support for struggling lithium companies</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

WA government announces $150 million package for lithium miners, including waiving government fees for two yearsPackage also includes a $50 million loan facility for interest-free loans to sustain operationsWhile the news did not significantly impact stock prices, it provides some relief and support for struggling lithium companiesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Matt Warder & Koala Unpack Peabody’s $3B+ Coal Deal

External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

ABN AMRO is a personal bank in the digital age. A bank committed to playing a serious role in society. This digital age helps us to bring banking ever closer to our clients and what they need. Our areas of focus are inclusion, sustainability, social entrepreneurship, innovation, daily banking and more. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>German snap elections an opportunity for step-change in fiscal policy, but political divisions will be hard to overcome</li><li>The Scholz government is on its last legs. Following the dramatic firing of the finance minister last night, the coalition government is on the cusp of a no confidence vote which looks set to lead to a snap federal election in early 2025.</li><li>The key bone of contention in the coalition was the approach to budgetary discipline amid what has become a slow-burning crisis in German industry, with the SPD in favour of a suspension of fiscal rules to deal with the crisis, with coalition partner FDP firmly opposed. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

German snap elections an opportunity for step-change in fiscal policy, but political divisions will be hard to overcomeThe Scholz government is on its last legs. Following the dramatic firing of the finance minister last night, the coalition government is on the cusp of a no confidence vote which looks set to lead to a snap federal election in early 2025.The key bone of contention in the coalition was the approach to budgetary discipline amid what has become a slow-burning crisis in German industry, with the SPD in favour of a suspension of fiscal rules to deal with the crisis, with coalition partner FDP firmly opposed. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Germany - Traffic light coalition turns red

<ul><li>Sapphire produced 27,000 tonnes of copper and 21,500 tonnes of zinc, similar to last quarter</li><li>Matzah saw a slight increase in copper equivalent production and maintained processing rate at 3.6 million tonnes per annum</li><li>Mateo had a planned shutdown and lower head grades, but net debt decreased by US $51 million to US 345 million, with group EBITDA of US 121 million for the quarter</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Sapphire produced 27,000 tonnes of copper and 21,500 tonnes of zinc, similar to last quarterMatzah saw a slight increase in copper equivalent production and maintained processing rate at 3.6 million tonnes per annumMateo had a planned shutdown and lower head grades, but net debt decreased by US $51 million to US 345 million, with group EBITDA of US 121 million for the quarterThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Coal
Insights on Coal and Coal Companies

BRIDS Market Pulse: Chart of the Week – China Coal Inventory at Port

The outflow was still dominated by the large-cap banks with coal stock AADI also among the top-5 stocks sold by foreign investors.

BRI Danareksa Research

Coal Sectoral Update December 3, 2024

China's coal inventory reached its peak in Sep-24 at 642.4mn tons, marking a robust demand of +22.7% YoY. This was supported by import volume of...

MNC Sekuritas

Matt Warder & Koala Unpack Peabody’s $3B+ Coal Deal

The Western Australian government has introduced a $150 million package aimed at supporting struggling lithium miners through waiving fees,...

Money of Mine

Germany - Traffic light coalition turns red

German snap elections an opportunity for step-change in fiscal policy, but political divisions will be hard to overcome. The Scholz government is...

ABN AMRO

Fire Sale for Anglo Coal Bidders

The company had consistent production levels for copper and zinc, with cost performance varying between Matsa and Matteo, as well as an overall...

Money of Mine