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

<ul><li>Pilbara Minerals announced the establishment of a $1 billion debt facility with a banking syndicate.</li><li>The company plans to use the facility to repay existing concessional debt and potentially make acquisitions.</li><li>The new facility offers more flexibility in terms of leverage ratios compared to existing debt agreements.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Pilbara Minerals announced the establishment of a $1 billion debt facility with a banking syndicate.The company plans to use the facility to repay existing concessional debt and potentially make acquisitions.The new facility offers more flexibility in terms of leverage ratios compared to existing debt agreements.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Will Zijin Pay Up for this Copper Hopeful?

<ul><li>An $271 million block trade of Pilbara minerals occurred, representing nearly 3% interest in the stock of the lithium miner</li><li>The trade was part of a secondary share sale stemming from an equity collar transaction for China's Ganfeng, which owns 5.7% of Pilbara</li><li>Equity collars are a trading strategy using options to protect downside, with the block trade price at a 4% discount to the last close</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

An $271 million block trade of Pilbara minerals occurred, representing nearly 3% interest in the stock of the lithium minerThe trade was part of a secondary share sale stemming from an equity collar transaction for China's Ganfeng, which owns 5.7% of PilbaraEquity collars are a trading strategy using options to protect downside, with the block trade price at a 4% discount to the last closeThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On the 15th August, lithium play <a href="https://www.smartkarma.com/entities/latin-resources-ltd" target="_blank" data-smartkarma-citation="entities:8770:1" rel="noopener">Latin Resources (LRS AU)</a> entered into a Scheme with <a href="https://www.smartkarma.com/entities/pilbara-minerals-ltd" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">Pilbara Minerals (PLS AU)</a>. PLS is offering 0.07 new PLS shares for every LRS share. </li>
<li>The scrip terms back out an implied price of A$0.20/share or a 67% premium to last close. Expected implementation was late November, early December; now January / February 2025.</li>
<li>My back &amp; forth with both Pilbara and Latin indicate the booklet had to be delayed to reflect Pilbara's recently adjusted FY25 guidance.</li>
</ul>


On the 15th August, lithium play Latin Resources (LRS AU) entered into a Scheme with Pilbara Minerals (PLS AU). PLS is offering 0.07 new PLS shares for every LRS share. 
The scrip terms back out an implied price of A$0.20/share or a 67% premium to last close. Expected implementation was late November, early December; now January / February 2025.
My back &amp; forth with both Pilbara and Latin indicate the booklet had to be delayed to reflect Pilbara's recently adjusted FY25 guidance.


Latin Resources (LRS AU)'s Scheme: Minor Delay, Not Deal Related

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Haitong Securities Co Ltd (H) / Event-Driven

<ul>
<li>We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.</li>
<li>Highest spreads: <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>, <a href="https://www.smartkarma.com/entities/beijing-capital-grand-ltd" target="_blank" data-smartkarma-citation="entities:18241:1" rel="noopener">Beijing Capital Grand (1329 HK)</a>, <a href="https://www.smartkarma.com/entities/shanghai-henlius-biotech-inc" target="_blank" data-smartkarma-citation="entities:27888:1" rel="noopener">Shanghai Henlius Biotech (2696 HK)</a>, <a href="https://www.smartkarma.com/entities/canvest-environmental-protection-group-co-ltd" target="_blank" data-smartkarma-citation="entities:100:1" rel="noopener">Canvest Environmental Protection Group (1381 HK)</a>, <a href="https://www.smartkarma.com/entities/greatview-aseptic-packaging" target="_blank" data-smartkarma-citation="entities:10802:1" rel="noopener">Greatview Aseptic Packaging (468 HK)</a>. 
</li>
<li>Lowest spreads: <a href="https://www.smartkarma.com/entities/platinum-asset-management" target="_blank" data-smartkarma-citation="entities:914:1" rel="noopener">Platinum Asset Management (PTM AU)</a>, <a href="https://www.smartkarma.com/entities/silverlake-axis-ltd" target="_blank" data-smartkarma-citation="entities:14150:1" rel="noopener">Silverlake Axis (SILV SP)</a>, <a href="https://www.smartkarma.com/entities/nec-networks-system-integr" target="_blank" data-smartkarma-citation="entities:16396:1" rel="noopener">Nec Networks &amp; System Integr (1973 JP)</a>, <a href="https://www.smartkarma.com/entities/t-gaia-corp" target="_blank" data-smartkarma-citation="entities:8339:1" rel="noopener">T Gaia Corp (3738 JP)</a>, <a href="https://www.smartkarma.com/entities/elematec-corp" target="_blank" data-smartkarma-citation="entities:2866:1" rel="noopener">Elematec Corp (2715 JP)</a>. </li>
</ul>


We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
Highest spreads: Seven &amp; I Holdings (3382 JP), Beijing Capital Grand (1329 HK), Shanghai Henlius Biotech (2696 HK), Canvest Environmental Protection Group (1381 HK), Greatview Aseptic Packaging (468 HK). 

Lowest spreads: Platinum Asset Management (PTM AU), Silverlake Axis (SILV SP), Nec Networks &amp; System Integr (1973 JP), T Gaia Corp (3738 JP), Elematec Corp (2715 JP). 


Merger Arb Mondays (04 Nov) - Haitong, Canvest, Capital Grand, Capitol, Fuji Soft, NESIC, Elematec

Travis Lundy

<ul>
<li>
<a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem Ltd (AKE AU)</a> saw its last day of trading on 21 December. There was large volume at the close as one major index provider gave it the boot. </li>
<li>Another delayed their treatment at the last minute, and eliminated a cross-flow.</li>
<li>But there is still a lot of net buy flow tomorrow (3 Jan) and the next day in the US. Perhaps more than I expected. </li>
</ul>



Allkem Ltd (AKE AU) saw its last day of trading on 21 December. There was large volume at the close as one major index provider gave it the boot. 
Another delayed their treatment at the last minute, and eliminated a cross-flow.
But there is still a lot of net buy flow tomorrow (3 Jan) and the next day in the US. Perhaps more than I expected. 


Allkem + Livent = Arcadium : Updated Expected Index Flows

Australia

Pilbara Minerals Ltd. is a mineral exploration company. The Company owns mineral tenements in the west Pilbara region of Western Australia where it explores for iron ore, gold and base metals, particularly copper and nickel.

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Pilbara Minerals (PLS AU)

Will Zijin Pay Up for this Copper Hopeful?

Pilbara Minerals secures $1 billion debt facility with banking syndicate to repay concessional debt, potentially make acquisitions, and gain...

Money of Mine

Is Ganfeng Bearish Pilbara Minerals?

The company is preparing to start mining operations to generate revenue through contracts or joint ventures, with pressure mounting to start...

Money of Mine

Merger Arb Mondays (04 Nov) - Haitong, Canvest, Capital Grand, Capitol, Fuji Soft, NESIC, Elematec

This week, the highest gross spreads are Seven & I (28.8%), Capital Grand (18.1%), Henlius (13.1%), Canvest (12.4%), GA Pack (10.0%), Shinko...

Arun George

Allkem + Livent = Arcadium : Updated Expected Index Flows

Flows for Livent-become-Arcadium Lithium over the next 3 days are relatively prodigious. This comes from upweights in US indices not matched by...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Will Zijin Pay Up for this Copper Hopeful?

Pilbara Minerals secures $1 billion debt facility with banking syndicate to repay concessional debt, potentially make acquisitions, and gain...

Money of Mine

Is Ganfeng Bearish Pilbara Minerals?

The company is preparing to start mining operations to generate revenue through contracts or joint ventures, with pressure mounting to start...

Money of Mine

Latin Resources (LRS AU)'s Scheme: Minor Delay, Not Deal Related

This is done. And trading wide-ish at a gross/annualised return of 4.3%/17.2%, assuming early Feb completion. IF you can take down borrow cheaply...

David Blennerhassett

Merger Arb Mondays (04 Nov) - Haitong, Canvest, Capital Grand, Capitol, Fuji Soft, NESIC, Elematec

This week, the highest gross spreads are Seven & I (28.8%), Capital Grand (18.1%), Henlius (13.1%), Canvest (12.4%), GA Pack (10.0%), Shinko...

Arun George

Allkem + Livent = Arcadium : Updated Expected Index Flows

Flows for Livent-become-Arcadium Lithium over the next 3 days are relatively prodigious. This comes from upweights in US indices not matched by...

Travis Lundy