External broker reports(aggregated public sources), Moelis Australia Ltd

MA Moelis Australia

External broker reports(aggregated public sources)

Moelis Australia Ltd

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Equity Bottom-Up

Strickland Metals Limited is a mineral exploration company. The Company focuses on gold and copper mining projects in Australia. Strickland Metals serves customers worldwide.

<ul><li>Strickland Metals (STK-ASX) is focussed on exploring the Rogozna Gold &amp; Base Metals Project in the Republic of Serbia.</li><li>The project sits in an intriguing geological setting in a region that hosts several significant mineral deposits including Zijin's Čukaru Peki mining centre at Bor (20Mt Cu and 15Moz Au in resource) and Rio Tinto's 144Mt @ 1.8 Li2O &amp; 14% B2O3 Jadar development, to name a few.</li><li>STK also has a highly prospective gold project, with a growing resource base in the Yandal gold belt of WA.</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.

Strickland Metals (STK-ASX) is focussed on exploring the Rogozna Gold &amp; Base Metals Project in the Republic of Serbia.The project sits in an intriguing geological setting in a region that hosts several significant mineral deposits including Zijin's Čukaru Peki mining centre at Bor (20Mt Cu and 15Moz Au in resource) and Rio Tinto's 144Mt @ 1.8 Li2O &amp; 14% B2O3 Jadar development, to name a few.STK also has a highly prospective gold project, with a growing resource base in the Yandal gold belt of WA.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.

Strickland Metals Limited - Strictly Speaking, It's Drilling for Opportunities

The Environmental Group Limited supplies gas and vapor emission control systems, water treatment systems and engineering services to a variety of industries. The Company provides flaring systems for disposal of gases from offshore rigs and plants, provides low emission burners and combustion systems, water treatment and purification and other environmental control services.

<ul><li>Core business driving increasing recurring revenue profile: Strong growth history with recent successful conversion to recurring revenue – now 50%+ of the business’ revenue – provides more visible earnings certainty.</li><li>Recent history of solid growth is set to continue in core operating segments, while commercialising water treatment technology is option for potential upside in the stock.</li><li>Cash generative, profitable, and capital-light business model: Energy (boilers) and Baltec (exhaust systems) in particular provide cash generative and profitable support for the business to prosecute building out its suite of environmental engineered solutions.</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.

Core business driving increasing recurring revenue profile: Strong growth history with recent successful conversion to recurring revenue – now 50%+ of the business’ revenue – provides more visible earnings certainty.Recent history of solid growth is set to continue in core operating segments, while commercialising water treatment technology is option for potential upside in the stock.Cash generative, profitable, and capital-light business model: Energy (boilers) and Baltec (exhaust systems) in particular provide cash generative and profitable support for the business to prosecute building out its suite of environmental engineered solutions.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.

The Environmental Group Limited - Buy – Price: $0.28; TP: $0.35

Silk Logistics Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides port logistics, warehousing, and distribution services for FMCG, retail, light industrial, food, and dairy sectors. Silk Logistics Holdings serves customers in Australia.

<div><ul><li>Silk Logistics Holdings Limited (SLH) has entered into a binding Scheme Implementation Deed (SID) with DP World Australia Limited (DP World) for the proposed acquisition of 100% of the shares in SLH.</li><li>SLH shareholders will receive $2.14/share, less any dividends declared prior to the Scheme implementation.</li><li>The offer values SLH equity at approximately $174.5m and represents a significant premium to recent trading. </li></ul></div>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.

Silk Logistics Holdings Limited (SLH) has entered into a binding Scheme Implementation Deed (SID) with DP World Australia Limited (DP World) for the proposed acquisition of 100% of the shares in SLH.SLH shareholders will receive $2.14/share, less any dividends declared prior to the Scheme implementation.The offer values SLH equity at approximately $174.5m and represents a significant premium to recent trading. 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.

Silk Logistics Holding Ltd - DP World Make Cash Offer of $2.14/Share

Carnaby Resources Ltd provides mining services. The Company offers mineral exploration, project development, and finance services. Carnaby Resources serves customers in Australia.

<ul><li>Carnaby Resources is an Australian listed minerals explorer with projects throughout Australia targeting copper, gold and lithium deposits.</li><li>The flagship asset is the Greater Duchess Project, approximately 70km southeast of Mt Isa, hosting an in-situ resource of over 300kt Cu Eq having only been discovered in early 2022.</li><li>The Greater Duchess Project hosts numerous zones of mineralisation with the current mineral resource hosting 21.8mt at 1.3% Cu and 0.2g/t Au. This material was recently the subject of a scoping study (May 2024).</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.

Carnaby Resources is an Australian listed minerals explorer with projects throughout Australia targeting copper, gold and lithium deposits.The flagship asset is the Greater Duchess Project, approximately 70km southeast of Mt Isa, hosting an in-situ resource of over 300kt Cu Eq having only been discovered in early 2022.The Greater Duchess Project hosts numerous zones of mineralisation with the current mineral resource hosting 21.8mt at 1.3% Cu and 0.2g/t Au. This material was recently the subject of a scoping study (May 2024).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.

Carnaby Resources Ltd -  Commencing Coverage at Buy with $0.86 Price Target

<ul><li>Cash: $6.5m (includes $0.5m restricted cash) (MA est. $6.8m)</li><li>Exploration expenditure: $2.4m ($3.0m)</li><li>Discovery of new San Quentin Deposit following VTEM campaign (see our first take here)</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.

Cash: $6.5m (includes $0.5m restricted cash) (MA est. $6.8m)Exploration expenditure: $2.4m ($3.0m)Discovery of new San Quentin Deposit following VTEM campaign (see our first take here)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.

Carnaby Resources Ltd - 1Q FY25 Activities: On Track Toward Duchess Development

Moelis Australia Ltd
External broker reports(aggregated public sources)

Strickland Metals Limited - Strictly Speaking, It's Drilling for Opportunities

The project sits in an intriguing geological setting in a region that hosts several significant mineral deposits including Zijin's Čukaru Peki...

MA Moelis Australia

The Environmental Group Limited - Buy – Price: $0.28; TP: $0.35

Strong growth history with recent successful conversion to recurring revenue – now 50%+ of the business’ revenue – provides more visible earnings...

MA Moelis Australia

Carnaby Resources Ltd - Commencing Coverage at Buy with $0.86 Price Target

Carnaby Resources is an Australian listed minerals explorer with projects throughout Australia targeting copper, gold and lithium deposits.

MA Moelis Australia

Carnaby Resources Ltd - 1Q FY25 Activities: On Track Toward Duchess Development

Cash: $6.5m (includes $0.5m restricted cash) (MA est. $6.8m). Exploration expenditure: $2.4m ($3.0m )Discovery of new San Quentin Deposit following...

MA Moelis Australia

Strickland Metals Limited - Strictly Speaking, It's Drilling for Opportunities

The project sits in an intriguing geological setting in a region that hosts several significant mineral deposits including Zijin's Čukaru Peki...

MA Moelis Australia

The Environmental Group Limited - Buy – Price: $0.28; TP: $0.35

Strong growth history with recent successful conversion to recurring revenue – now 50%+ of the business’ revenue – provides more visible earnings...

MA Moelis Australia

Silk Logistics Holding Ltd - DP World Make Cash Offer of $2.14/Share

Silk Logistics Holdings Limited (SLH) has entered into a binding Scheme Implementation Deed (SID) with DP World Australia Limited (DP World) for...

MA Moelis Australia

Carnaby Resources Ltd - Commencing Coverage at Buy with $0.86 Price Target

Carnaby Resources is an Australian listed minerals explorer with projects throughout Australia targeting copper, gold and lithium deposits.

MA Moelis Australia

Carnaby Resources Ltd - 1Q FY25 Activities: On Track Toward Duchess Development

Cash: $6.5m (includes $0.5m restricted cash) (MA est. $6.8m). Exploration expenditure: $2.4m ($3.0m )Discovery of new San Quentin Deposit following...

MA Moelis Australia