Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Yesterday morning (29th October), Aussie independent brewer <strong><a href="https://www.smartkarma.com/entities/good-drinks-australia-ltd" target="_blank" data-smartkarma-citation="entities:18144:1" rel="noopener">Good Drinks Australia (GDA AU)</a></strong> proposed a voluntary delisting from the ASX.  Shares promptly closed down 26%. </li>
<li>Such a proposal requires a special resolution vote. And no shareholders are required to abstain. There will be no cash alternative. </li>
<li>Shareholders can either choose undervalued, illiquid shares under the transparency of the ASX; or an uncertain unlisted environment in which the board believes it can realise superior value. </li>
</ul>


Yesterday morning (29th October), Aussie independent brewer Good Drinks Australia (GDA AU) proposed a voluntary delisting from the ASX.  Shares promptly closed down 26%. 
Such a proposal requires a special resolution vote. And no shareholders are required to abstain. There will be no cash alternative. 
Shareholders can either choose undervalued, illiquid shares under the transparency of the ASX; or an uncertain unlisted environment in which the board believes it can realise superior value. 


APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Amman Mineral Internasional / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amman-mineral-internasional-pt" target="_blank" data-smartkarma-citation="entities:39838:1" rel="noopener">Amman Mineral Internasional (AMMN IJ)</a> raised around US$714m in its Indonesia IPO, after pricing the deal at IDR1,695/share. Its eight-month lockup will expire on 21st Feb 2024.</li>
<li>Amman Mineral International (AMI) carries out exploration, development, mining, and processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>



Amman Mineral Internasional (AMMN IJ) raised around US$714m in its Indonesia IPO, after pricing the deal at IDR1,695/share. Its eight-month lockup will expire on 21st Feb 2024.
Amman Mineral International (AMI) carries out exploration, development, mining, and processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Amman Mineral International Lockup Expiry - Large Lockup Expiry, Sitting on Sizeable Profits

External broker reports(aggregated public sources), Ord Minnett

Ord Minnett

External broker reports(aggregated public sources)

Ord Minnett is a leading Australian wealth management group, incorporating full-service stockbroking, financial planning and funds management. 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

<div><div><div><div><ul><li>We recently attended a site trip to Eloise with A1M Management and investors.</li><li>This follows-on from a similar trip we did a year ago.</li><li>Since our last trip, A1M has acquired DRM (and Jericho) which provides the Company with the mineral inventory scale (now ~137kt Cu) and exploration potential to justify an expansion (OMLe: +20kt Cu by FY27) in our view. </li></ul></div></div></div></div><p><em>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.</em></p>

We recently attended a site trip to Eloise with A1M Management and investors.This follows-on from a similar trip we did a year ago.Since our last trip, A1M has acquired DRM (and Jericho) which provides the Company with the mineral inventory scale (now ~137kt Cu) and exploration potential to justify an expansion (OMLe: +20kt Cu by FY27) in our view. 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.

AIC Mines Limited - Eloise 1-Year On, Outlook Discounted (~25%) At Current Trading Levels

<div><div><div><div><ul><li>A soft(er) result from A1M as mill shutdowns combined with weather events to result in 10 days of lost production.</li><li>Given performance YTD, FY23 guidance has been revised lower (-17% to ~10.4kt Cu).</li><li>Today’s market reaction suggests investors anticipated this or are prepared to look through the near-term.</li></ul><p><em>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.</em></p></div></div></div></div>

A soft(er) result from A1M as mill shutdowns combined with weather events to result in 10 days of lost production.Given performance YTD, FY23 guidance has been revised lower (-17% to ~10.4kt Cu).Today’s market reaction suggests investors anticipated this or are prepared to look through the near-term.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.

AIC Mines Limited - 3Q23: A Bit Softer, Market Focused on the Long-Term

<div><div><div><div><ul><li>A slightly softer 1H23 result (vs OMLe) but given its immateriality (low base) we wouldn’t expect the investment community to give it much attention.</li><li>3Q operational performance is likely to garner more interest following a softer 2Q.</li><li>We anticipate a +20% production (and +A$15m earnings) improvement in 2H as we see increasing contribution from Macy North, combining with contractor development haulage and improved sequencing. </li></ul></div></div></div></div><p><em>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.</em></p>

A slightly softer 1H23 result (vs OMLe) but given its immateriality (low base) we wouldn’t expect the investment community to give it much attention.3Q operational performance is likely to garner more interest following a softer 2Q.We anticipate a +20% production (and +A$15m earnings) improvement in 2H as we see increasing contribution from Macy North, combining with contractor development haulage and improved sequencing. 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.

AIC Mines Limited - Result Immaterial – Looking to 3/4Q Improvements and Study Updates

Australia

AIC Mines Limited provides precious metal mining services. The Company offers base metals, lithium, and rare earth minerals. AIC Mines markets its products in Australia.

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AIC Mines Ltd (A1M AU)

Good Drinks (GDA AU): Last Call

GDA shareholders can either choose undervalued, illiquid shares under the transparency of the ASX; or an uncertain unlisted environment in which...

David Blennerhassett

Amman Mineral International Lockup Expiry - Large Lockup Expiry, Sitting on Sizeable Profits

Amman Mineral Internasional (AMMN IJ) raised around US$714m in its Indonesia IPO, after pricing the deal at IDR1,695/share. Its eight-month lockup...

Ethan Aw

AIC Mines Limited - Eloise 1-Year On, Outlook Discounted (~25%) At Current Trading Levels

We recently attended a site trip to Eloise with A1M Management and investors. This follows-on from a similar trip we did a year ago.

Ord Minnett

AIC Mines Limited - 3Q23: A Bit Softer, Market Focused on the Long-Term

A soft(er) result from A1M as mill shutdowns combined with weather events to result in 10 days of lost production. Given performance YTD, FY23...

Ord Minnett

AIC Mines Limited - Result Immaterial – Looking to 3/4Q Improvements and Study Updates

A slightly softer 1H23 result (vs OMLe) but given its immateriality (low base) we wouldn’t expect the investment community to give it much attention.

Ord Minnett

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