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>We forecast 26 changes across the ASX50 Index, ASX100 Index, <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> and ASX300 Index at the September rebalance.</li>
<li>The review period ends tomorrow, so most changes are high probability. Though there are some changes that will be up to the discretion of the index committee.</li>
<li>There will be a lot of stock to trade on the changes to the ASX200 and indices higher up the hierarchy. But there will be a lot of pre-positioning too.</li>
</ul>


We forecast 26 changes across the ASX50 Index, ASX100 Index, S&amp;P/ASX 200 (AS51 INDEX) and ASX300 Index at the September rebalance.
The review period ends tomorrow, so most changes are high probability. Though there are some changes that will be up to the discretion of the index committee.
There will be a lot of stock to trade on the changes to the ASX200 and indices higher up the hierarchy. But there will be a lot of pre-positioning too.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Adds Have Outperformed

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>At the 20 April Scheme Meeting, <a href="https://www.smartkarma.com/entities/mineral-resources-ltd" target="_blank" data-smartkarma-citation="entities:15103:1" rel="noopener">Mineral Resources (MIN AU)</a> (with 19.55%) and other shareholders voted against the Tianqi Lithium JV transaction for <a href="https://www.smartkarma.com/entities/essential-metals-ltd" target="_blank" data-smartkarma-citation="entities:9645:1" rel="noopener">Essential Metals (ESS AU)</a>. </li>
<li>This left Essential in no man's land until MinRes (presumably) made a move. But on the 3 July, <a href="https://www.smartkarma.com/entities/develop-global-ltd" target="_blank" data-smartkarma-citation="entities:19413:1" rel="noopener">Develop Global (DVP AU)</a> announced a binding Scheme with ESS.</li>
<li>The all-scrip Scheme transaction has the backing of MinRes, which also owns a <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02680585-6A1155937?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">~13% stake</a> in Develop. This deal - this time- looks all stitched up.</li>
</ul>


At the 20 April Scheme Meeting, Mineral Resources (MIN AU) (with 19.55%) and other shareholders voted against the Tianqi Lithium JV transaction for Essential Metals (ESS AU). 
This left Essential in no man's land until MinRes (presumably) made a move. But on the 3 July, Develop Global (DVP AU) announced a binding Scheme with ESS.
The all-scrip Scheme transaction has the backing of MinRes, which also owns a ~13% stake in Develop. This deal - this time- looks all stitched up.


Essential Metals/Develop Global: Rock Steady With MinRes Support

External broker reports(aggregated public sources), Euroz Limited

Euroz Hartleys

External broker reports(aggregated public sources)

Euroz Limited

A Western Australian diversified financial services company focused on providing financial services solutions to Institutional, Corporate & Private 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.

Equity Bottom-Up

<ul><li>DVP makes all scrip bid for the Essential Metals' Pioneer Dome Lithium Project.</li><li>DFS on Sulphur Springs released.</li><li>The all-scrip bid for Essential Metals Pioneer Dome appears transformational for DVP adding near-term Lithium production upside.</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.

DVP makes all scrip bid for the Essential Metals' Pioneer Dome Lithium Project.DFS on Sulphur Springs released.The all-scrip bid for Essential Metals Pioneer Dome appears transformational for DVP adding near-term Lithium production upside.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.

Develop Global Limited - Another Commodity in the Belt

<ul><li>Woodlawn: Zn-Cu mine in NSW with all infrastructure in place and underground development in preparation for mining underway.</li><li>Sulphur Springs: Zn-Cu mine in WA, 140km South of Port Hedland.</li><li>Whim Creek: ANX 80%, DVP 20%. Zn-Cu project 25km away from Sulphur Springs. DVP free carried. Opportunity for DVP to mine underground components. DFS completed April 2023.</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.

Woodlawn: Zn-Cu mine in NSW with all infrastructure in place and underground development in preparation for mining underway.Sulphur Springs: Zn-Cu mine in WA, 140km South of Port Hedland.Whim Creek: ANX 80%, DVP 20%. Zn-Cu project 25km away from Sulphur Springs. DVP free carried. Opportunity for DVP to mine underground components. DFS completed April 2023.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.

Australia

Pantoro Limited operates as a mineral exploration and production company. The Company explores gold and other metals. Pantoro serves customers in Australia.

Latin Resources Ltd is Perth Australia based, Iron Ore and Gold focused exploration and development company. The Company was formed as a vehicle to explore and develop mineral concessions.

Predictive Discovery Ltd. explores for gold in Burkina Faso in Africa, and uranium in Australia.  The Company operates in the Fada N'Gourma and Manga-Sebba greenstone belts in Burkina Faso; and in Northern Territory, Australia.

Mount Gibson Iron Limited is an iron ore exploration and production company. The Company holds mining leases covering hematite and magnetite deposits at Mount Gibson in Western Australia.

Chalice Gold Mines Ltd. explores for gold.  The Company operates in Western Australia.

SolGold PLC, together with its subsidiaries, engages in the exploration of mineral properties. The company primarily explores for gold, copper, and silver deposits. Its flagship project is the Cascabel project that covers an area of approximately 50 square kilometers situated in Quito, Ecuador. The company was formerly known as Solomon Gold plc and changed its name to SolGold PLC in May 2012. SolGold PLC was incorporated in 2005 and is based in Brisbane, Australia.

Jupiter Mines Limited operates as a mining company. The Company mines and produces manganese and other base metals. Jupiter Mines serves customers in Australia.

Grange Resources Limited is a mining and exploration company. The Company explores for iron ore and pellets. Grange Resources serves customers in Australia and Asia.

Sovereign Metals Ltd. explores and mines for copper and gold.

Metals X Limited operates as a diversified resource company. The Company mines, develops, and explores copper, nickel, cobalt, and other metals. Metals X serves customers in Australia.

PT Archi Indonesia Tbk operates as a mining company. The Company explores and develops silver and gold projects. Archi Indonesia serves customers worldwide.

Jiangsu Alcha Aluminum Company Ltd. manufactures and markets pure aluminum foil, hydrophilic-coated aluminum foil, and aluminum scrip coil.

Jiangsu Alcha Aluminum Co, Ltd. (002160 CH)

Changchun Gas Co., Ltd. produces metallurgical coke and distributes gas for commercial or residential use in Changchun and Yanji, China. The Company also provides gas pipe installation service.

Tang Eng Iron Works Co Ltd engages in stainless steel production and distribution.

KISWIRE Ltd. manufactures secondary steel products, such as wire ropes and wire strands for electric wire and springs.  The Company markets to the shipbuilding and construction industries, and exports products to overseas markets.  KISWIRE also has a financial subsidiary.

M.M.Forgings Limited manufactures steel forgings in raw, and various grades of carbon, alloy, micro alloy, and stainless steel.

YC INOX Co., Ltd. manufactures stainless steel pipes and sheets.

Juli Sling Co Ltd. develops, designs, manufactures and sells sling products. The Company's products include textile sling, steek wire rope sling, steel tie rod, cable, and metallurgy clamp.

Henan Hengxing Science & Technology Co., Ltd. manufactures and markets tire steel wire cord, rubber tube steel wire, galvanized steel wire and steel stranded wire.

BGRIMM Magnetic Materials & Technology Co., Ltd. produces and develops permanent magnetic ferrite materials, adhesive permanent magnet, and permanent magnetic ferrite sintered devices.

Develop Global Ltd. explores for precious metals in Australia.

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Develop Global (DVP AU)

S&P/ASX Index Rebalance Preview: Potential Adds Have Outperformed

We forecast 26 changes across the ASX50, ASX100, ASX 200 and ASX300 indices at the September rebalance. There is big flow and impact on a lot of...

Brian Freitas

Essential Metals/Develop Global: Rock Steady With MinRes Support

This looks done. Trading wide at a gross/annualised spread of 10.5%/44.7%. If you can take down borrow cheaply, I'd be long Essential, short...

David Blennerhassett

Develop Global Limited - Another Commodity in the Belt

DVP makes all scrip bid for the Essential Metals' Pioneer Dome Lithium Project. DFS on Sulphur Springs released. The all-scrip bid for Essential...

Euroz Hartleys

DVP - Bill'd It. They'll Come

Woodlawn: Zn-Cu mine in NSW with all infrastructure in place and underground development in preparation for mining underway.

Euroz Hartleys

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Adds Have Outperformed

We forecast 26 changes across the ASX50, ASX100, ASX 200 and ASX300 indices at the September rebalance. There is big flow and impact on a lot of...

Brian Freitas

Essential Metals/Develop Global: Rock Steady With MinRes Support

This looks done. Trading wide at a gross/annualised spread of 10.5%/44.7%. If you can take down borrow cheaply, I'd be long Essential, short...

David Blennerhassett

Develop Global Limited - Another Commodity in the Belt

DVP makes all scrip bid for the Essential Metals' Pioneer Dome Lithium Project. DFS on Sulphur Springs released. The all-scrip bid for Essential...

Euroz Hartleys

DVP - Bill'd It. They'll Come

Woodlawn: Zn-Cu mine in NSW with all infrastructure in place and underground development in preparation for mining underway.

Euroz Hartleys

S&P/ASX Index Rebalance Preview: Potential Adds Have Outperformed