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>The funding package between Iluka Resources and the government was finalized, leading to a 10% market decline</li><li>Iluka Resources planned to build a Rare Earths refinery in Enneba with the assistance of a $1.05 billion non recourse loan from the Australian government</li><li>Iluka also had plans to process their Wimmera deposit through the refinery, despite challenges with separation and impurities causing delays in development.</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>

The funding package between Iluka Resources and the government was finalized, leading to a 10% market declineIluka Resources planned to build a Rare Earths refinery in Enneba with the assistance of a $1.05 billion non recourse loan from the Australian governmentIluka also had plans to process their Wimmera deposit through the refinery, despite challenges with separation and impurities causing delays in development.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2025 index rebal event.</li>
<li>We expect two changes for ASX 50, one change for ASX 100, and seven changes for ASX 200. Separately we see 10 ADDs and 8 DELs for ASX 300.</li>
<li>
<a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a> is likely to experience major index inflows in March 2025 if the merger completes as planned.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2025 index rebal event.
We expect two changes for ASX 50, one change for ASX 100, and seven changes for ASX 200. Separately we see 10 ADDs and 8 DELs for ASX 300.

Sigma Healthcare (SIG AU) is likely to experience major index inflows in March 2025 if the merger completes as planned.


Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare

<ul>
<li>In this insight, we take a look at the potential index changes for ASX200, 100, 50, and 20 in the run-up to the December 2024 index rebal event.</li>
<li>We currently do not see any index changes for ASX 20 and ASX 100.</li>
<li>We continue to expect one change for ASX 50. However, our expectations for ASX 200 have changed since our last insight (<a href="https://www.smartkarma.com/insights/quiddity-leaderboard-asx-dec-24-three-changes-possible-new-long-short-ideas?slug=quiddity-leaderboard-asx-dec-24-three-changes-possible-new-long-short-ideas" target="_blank" rel="noopener">link</a>).</li>
</ul>


In this insight, we take a look at the potential index changes for ASX200, 100, 50, and 20 in the run-up to the December 2024 index rebal event.
We currently do not see any index changes for ASX 20 and ASX 100.
We continue to expect one change for ASX 50. However, our expectations for ASX 200 have changed since our last insight (link).


Quiddity Leaderboard ASX Dec 24: Clarity Pharma and Resolute Mining Competing for ASX 200 Spot

<ul>
<li>In this insight, we take a look at the potential index changes for ASX200, 100, 50, and 20 in the run-up to the December 2024 index rebal event.</li>
<li>We currently do not see any index changes for ASX 20 and ASX 100.</li>
<li>We see one change for ASX 100 and two changes for ASX 200 but the final result could depend on relative share price movements for the next two months.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX200, 100, 50, and 20 in the run-up to the December 2024 index rebal event.
We currently do not see any index changes for ASX 20 and ASX 100.
We see one change for ASX 100 and two changes for ASX 200 but the final result could depend on relative share price movements for the next two months.


Quiddity Leaderboard ASX Dec 24: Three Changes Possible; New Long-Short Ideas

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

<ul>
<li>The original trade was discussed at end-April in <a href="https://www.smartkarma.com/insights/tax-loss-selling-in-australia-2024-historical-analysis-and-a-trade-basket" target="_blank" data-smartkarma-citation="insights:139337" rel="noopener">Tax-Loss Selling in Australia 2024 - Historical Analysis and A Trade Basket</a> then updated <a href="https://www.smartkarma.com/insights/tax-loss-selling-in-australia-2024-a-trade-basket-updated" target="_blank" rel="noopener">here</a> and <a href="https://www.smartkarma.com/insights/tax-loss-selling-in-australia-2024-the-may-basket-april-basket-2-3-to-6-3-rtn" target="_blank" rel="noopener">here</a>. </li>
<li>That has done OK. The LIQUID basket has delta neutral performance of +8.4% over 2mos; LIQUID+LESSLIQUID +7.2%; If one did a mixed basket (3x L+LL + 1x Illiquids) it's +8.6%.</li>
<li>Now it is time to reverse the trade, buying the basket you were short, and running it against index for the next 6-8 weeks.</li>
</ul>


The original trade was discussed at end-April in Tax-Loss Selling in Australia 2024 - Historical Analysis and A Trade Basket then updated here and here. 
That has done OK. The LIQUID basket has delta neutral performance of +8.4% over 2mos; LIQUID+LESSLIQUID +7.2%; If one did a mixed basket (3x L+LL + 1x Illiquids) it's +8.6%.
Now it is time to reverse the trade, buying the basket you were short, and running it against index for the next 6-8 weeks.


Tax-Loss Selling In Australia 2024 - Time To Reverse The Trade (7.2-8.6% Rtn in Two Months So Far)

Australia

Iluka Resources Limited is involved in the mining, concentration and separation of mineral sands and titanium minerals. The Company also produces ilmenite and other titani-ferrous concentrates, zircon, and synthetic rutile along with the exploration of coal. Iluka's products are exported throughout the world.

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Iluka Resources (ILU AU)

Eneabba: A $2b Disaster in Waiting?

The summary discusses various updates in the mining industry, including a potential association with Ellie, offers for drilling contracts,...

Money of Mine

Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare

We expect there to be a total of 650mn shares to buy from the ASX family during the March 2025 index rebal event. This is roughly US$1.1bn in flow...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Dec 24: Clarity Pharma and Resolute Mining Competing for ASX 200 Spot

Spark New Zealand (SPK AU) is a high-conviction ASX 200 DEL. Clarity Pharma (CU6 AU) is leading the race to become an ASX 200 add and Resolute...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Dec 24: Three Changes Possible; New Long-Short Ideas

There could be 5x-9x ADV to trade for the expected ADDs and DELs for ASX 200 in December 2024. We currently estimate one-way flow for the ASX 200...

Janaghan Jeyakumar, CFA

Tax-Loss Selling In Australia 2024 - Time To Reverse The Trade (7.2-8.6% Rtn in Two Months So Far)

Many of the stocks in the most beaten-down list are Australia-listed lithium producers. Some down today. Others in Asia are down today too. If one...

Travis Lundy

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