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>Woodsmith project is a novel mine in the UK owned by Sirius Minerals, later acquired by Anglo.</li><li>The project involves extracting polyhalite, a nutrient-rich mineral, from a deep underground seam.</li><li>Local residents became shareholders in the project, with 85,000 retail shareholders, 10,000 of which were from the York area.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Woodsmith project is a novel mine in the UK owned by Sirius Minerals, later acquired by Anglo.The project involves extracting polyhalite, a nutrient-rich mineral, from a deep underground seam.Local residents became shareholders in the project, with 85,000 retail shareholders, 10,000 of which were from the York area.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Our intern investigates the $5 Billion mine that won’t work (it’s Woodsmith)

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>As expected, there are no adds or deletes for the MVIS Global Rare Earth/Strategic Metals Index at the December rebalance.</li>
<li>There are free float and capping changes that will be implemented at the close on 16 December.</li>
<li>One way turnover is estimated at 4.26% and will result in a one-way trade of US$31.5m.</li>
</ul>


As expected, there are no adds or deletes for the MVIS Global Rare Earth/Strategic Metals Index at the December rebalance.
There are free float and capping changes that will be implemented at the close on 16 December.
One way turnover is estimated at 4.26% and will result in a one-way trade of US$31.5m.


MVIS Global Rare Earth/​​Strategic Metals Index Rebalance: Float & Capping Changes

Australian Strategic Materials / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sierra-rutile-holdings-limited" target="_blank" data-smartkarma-citation="entities:36235:1" rel="noopener">Sierra Rutile Holdings (SRX AU)</a> is a high probability delete from the index, while <a href="https://www.smartkarma.com/entities/australian-strategic-materials" target="_blank" data-smartkarma-citation="entities:30815:1" rel="noopener">Australian Strategic Materials (ASM AU)</a> is close to the deletion threshold.</li>
<li>
<a href="https://www.smartkarma.com/entities/sayona-mining-ltd" target="_blank" data-smartkarma-citation="entities:1589:1" rel="noopener">Sayona Mining (SYA AU)</a> is the highest ranked non-constituent while <a href="https://www.smartkarma.com/entities/tianqi-lithium-corporation" target="_blank" data-smartkarma-citation="entities:27789:1" rel="noopener">Tianqi Lithium (9696 HK)</a> only makes inclusion at the entire IPO raise.</li>
<li>Deletion from the index will require passive trackers to sell over 5 days of ADV on <a href="https://www.smartkarma.com/entities/australian-strategic-materials" target="_blank" data-smartkarma-citation="entities:30815:1" rel="noopener">Australian Strategic Materials (ASM AU)</a>. </li>
</ul>



Sierra Rutile Holdings (SRX AU) is a high probability delete from the index, while Australian Strategic Materials (ASM AU) is close to the deletion threshold.

Sayona Mining (SYA AU) is the highest ranked non-constituent while Tianqi Lithium (9696 HK) only makes inclusion at the entire IPO raise.
Deletion from the index will require passive trackers to sell over 5 days of ADV on Australian Strategic Materials (ASM AU). 


MVIS Global Rare Earth/​​​​Strategic Metals Index Rebalance Preview: Couple of Potential Deletes

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Charter Hall Social Infrastructure REIT / Event-Driven

<ul>
<li>The index changes for the S&amp;P ASX Index family for the September 2022 Rebalance were announced after the close on Friday.</li>
<li>There will be one change for the ASX 100 index and 8 changes for the ASX 200 Index. The ASX 300 Index will have 16 ADDs and 12 DELs.</li>
<li>In this insight, we take a closer look at our expectations for index flows and potential trading ideas.</li>
</ul>


The index changes for the S&amp;P ASX Index family for the September 2022 Rebalance were announced after the close on Friday.
There will be one change for the ASX 100 index and 8 changes for the ASX 200 Index. The ASX 300 Index will have 16 ADDs and 12 DELs.
In this insight, we take a closer look at our expectations for index flows and potential trading ideas.


S&P ASX Sep 22 Rebal: Decent Impacts but Avoid Short Buildup

<ul>
<li>There is one change for the S&amp;P/ASX 100 Index, eight changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a>, while there are 16 adds and 12 deletes for the S&amp;P/ASX 300 Index.</li>
<li>Passive trackers need to buy/sell a lot of stock for the ASX100 and ASX200 names. There appears to be large pre-positioning on the deletes.</li>
<li>
<a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a>'s privatisation may require an ad hoc inclusion prior to the implementation of the September rebalance - ACCC approval is key. </li>
</ul>


There is one change for the S&amp;P/ASX 100 Index, eight changes to the S&amp;P/ASX 200 (AS51 INDEX), while there are 16 adds and 12 deletes for the S&amp;P/ASX 300 Index.
Passive trackers need to buy/sell a lot of stock for the ASX100 and ASX200 names. There appears to be large pre-positioning on the deletes.

Link Administration (LNK AU)'s privatisation may require an ad hoc inclusion prior to the implementation of the September rebalance - ACCC approval is key. 


S&P/​​ASX Index Rebalance (Sep 2022): Adds, Deletes, Surprises & Pre-Positioning

Australia

AVZ Minerals Limited operates as a mineral exploration company. The Company acquires, develops, mines, and produces lithium, tin, tantalum, and other base metals. AVZ Minerals serves customers globally.

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AVZ Minerals (AVZ AU)

Our intern investigates the $5 Billion mine that won’t work (it’s Woodsmith)

The Woodsmith project, a significant part of Anglo's portfolio, is a large underground mine in the northeast of England with a resource estimate of...

Money of Mine

MVIS Global Rare Earth/Strategic Metals Index Rebalance: Float & Capping Changes

No adds/deletes for REMX in December. Free float and capping changes will be implemented at the close on 16 December resulting in one-way turnover...

Brian Freitas

MVIS Global Rare Earth/Strategic Metals Index Rebalance Preview: Couple of Potential Deletes

Sierra Rutile is a high probability delete from the REMX in September. There is a possibility that ASM is deleted too. There is flow on the other...

Brian Freitas

S&P ASX Sep 22 Rebal: Decent Impacts but Avoid Short Buildup

The Top 10 ADDs & DELs have average impacts of +12.7 and -11.2 days to trade respectively. Some DELs names have significant short buildup.

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance (Sep 2022): Adds, Deletes, Surprises & Pre-Positioning

There are a lot of changes to the ASX200 and ASX300 indices with high impact. There are a few surprises, mainly in the ASX300. Shorts have surged...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Our intern investigates the $5 Billion mine that won’t work (it’s Woodsmith)

The Woodsmith project, a significant part of Anglo's portfolio, is a large underground mine in the northeast of England with a resource estimate of...

Money of Mine

MVIS Global Rare Earth/​​Strategic Metals Index Rebalance: Float & Capping Changes

No adds/deletes for REMX in December. Free float and capping changes will be implemented at the close on 16 December resulting in one-way turnover...

Brian Freitas

MVIS Global Rare Earth/​​​​Strategic Metals Index Rebalance Preview: Couple of Potential Deletes

Sierra Rutile is a high probability delete from the REMX in September. There is a possibility that ASM is deleted too. There is flow on the other...

Brian Freitas

S&P ASX Sep 22 Rebal: Decent Impacts but Avoid Short Buildup

The Top 10 ADDs & DELs have average impacts of +12.7 and -11.2 days to trade respectively. Some DELs names have significant short buildup.

Janaghan Jeyakumar, CFA

S&P/​​ASX Index Rebalance (Sep 2022): Adds, Deletes, Surprises & Pre-Positioning

There are a lot of changes to the ASX200 and ASX300 indices with high impact. There are a few surprises, mainly in the ASX300. Shorts have surged...

Brian Freitas

MVIS Global Rare Earth/Strategic Metals Index Rebalance: Float & Capping Changes

MVIS Global Rare Earth/Strategic Metals Index Rebalance Preview: Couple of Potential Deletes

S&P/ASX Index Rebalance (Sep 2022): Adds, Deletes, Surprises & Pre-Positioning