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.

Thematic (Sector/Industry)

<ul><li>Deep-pocketed investors are taking a long-term view on the market fluctuations</li><li>Pilbara Minerals is planning for significant growth with targets of moving 110 million tons per annum</li><li>Npv of $2.6 billion and IRR of 55% make the growth project compelling for Pilbara Minerals.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Deep-pocketed investors are taking a long-term view on the market fluctuationsPilbara Minerals is planning for significant growth with targets of moving 110 million tons per annumNpv of $2.6 billion and IRR of 55% make the growth project compelling for Pilbara Minerals.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Pilbara Looks Within While Paladin Opts to Buy

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jun 14th (reported today) which has an aggregated short interest worth USD19.3bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in BHP, Champion Iron, Woolworths.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jun 14th (reported today) which has an aggregated short interest worth USD19.3bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in BHP, Champion Iron, Woolworths.


ASX Short Interest Weekly (Jun 14th): BHP, Champion Iron, Woolworths

Event-Driven

<ul>
<li>Deterra has made a deal to acquire Trident Royalties, a UK listed royalty company, at a 42% premium to its undisturbed price</li>
<li>The deal includes assuming Trident's debt and will result in Deterra cutting its dividend payout ratio in half from FY 25 going forward, upsetting current shareholders</li>
<li>Deterra's fully frank dividends have attracted Australian institutional shareholders, who may be affected by the change in dividend policy and potential impact on share price</li>
</ul>
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


Deterra has made a deal to acquire Trident Royalties, a UK listed royalty company, at a 42% premium to its undisturbed price
The deal includes assuming Trident's debt and will result in Deterra cutting its dividend payout ratio in half from FY 25 going forward, upsetting current shareholders
Deterra's fully frank dividends have attracted Australian institutional shareholders, who may be affected by the change in dividend policy and potential impact on share price

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/idp-education-ltd" target="_blank" data-smartkarma-citation="entities:1098:1" rel="noopener">IDP Education (IEL AU)</a> and <a href="https://www.smartkarma.com/entities/lendlease-group" target="_blank" data-smartkarma-citation="entities:11248:1" rel="noopener">Lendlease Group (LLC AU)</a> will be deleted from the MV Australia Equal Weight Index at the June rebalance.</li>
<li>Constituent, float and capping changes will result in a one-way turnover of 5% and in a round-trip trade of A$228m.</li>
<li>There are many stocks from the S&amp;P/ASX index family that will have same way or opposing flows from <a href="https://www.smartkarma.com/entities/vaneck-vectors-australian-equal-weight-etf" target="_blank" data-smartkarma-citation="entities:24297:1" rel="noopener">VanEck Vectors Australian Equal Weight ETF (MVW AU)</a>. </li>
</ul>



IDP Education (IEL AU) and Lendlease Group (LLC AU) will be deleted from the MV Australia Equal Weight Index at the June rebalance.
Constituent, float and capping changes will result in a one-way turnover of 5% and in a round-trip trade of A$228m.
There are many stocks from the S&amp;P/ASX index family that will have same way or opposing flows from VanEck Vectors Australian Equal Weight ETF (MVW AU). 


MV Australia Equal Weight Index Rebalance: IDP Education (IEL) & Lendlease Group (LLC) Out

<ul>
<li>
<a href="https://www.smartkarma.com/entities/core-lithium-ltd" target="_blank" data-smartkarma-citation="entities:14712:1" rel="noopener">Core Lithium Ltd (CXO AU)</a> and <a href="https://www.smartkarma.com/entities/piedmont-lithium-inc" target="_blank" data-smartkarma-citation="entities:37086:1" rel="noopener">Piedmont Lithium (PLL US)</a> will be deleted from the <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a> at the close on 21 June.</li>
<li>Constituent changes, float changes and capping changes result in an estimated one-way turnover of 6.4% and in a one-way trade of US$28m.</li>
<li>The largest inflows will be in <a href="https://www.smartkarma.com/entities/sociedad-quimica-y-minera-de-chile-sa" target="_blank" data-smartkarma-citation="entities:27977:1" rel="noopener">Sociedad Quimica y Minera de Chile (SQM US)</a>, <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>, <a href="https://www.smartkarma.com/entities/arcadium-lithium-plc-2f9bfa3a-65a7-41f9-a157-e59603846420" target="_blank" data-smartkarma-citation="entities:40439:1" rel="noopener">Arcadium Lithium (ALTM US)</a>, <a href="https://www.smartkarma.com/entities/lithium-americas-corp" target="_blank" data-smartkarma-citation="entities:23860:1" rel="noopener">Lithium Americas (LAC US)</a> and <a href="https://www.smartkarma.com/entities/sigma-lithium-corporation" target="_blank" data-smartkarma-citation="entities:36776:1" rel="noopener">Sigma Lithium (SGML)</a>.</li>
</ul>



Core Lithium Ltd (CXO AU) and Piedmont Lithium (PLL US) will be deleted from the VanEck Rare Earth/Strategic Me (REMX US) at the close on 21 June.
Constituent changes, float changes and capping changes result in an estimated one-way turnover of 6.4% and in a one-way trade of US$28m.
The largest inflows will be in Sociedad Quimica y Minera de Chile (SQM US), Pilbara Minerals (PLS AU), Arcadium Lithium (ALTM US), Lithium Americas (LAC US) and Sigma Lithium (SGML).


MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: Two Deletions & Other Changes

Australia

BlueScope Steel Limited supplies steel products and solutions. The Company manufactures steel slabs, plates, hot and cold rolled coils, and coated and painted strip products for building and construction, automotive, whitegoods, and manufacturing applications. BlueScope Steel serves customers in Asia, Australia, New Zealand, and the United States.

OZ Minerals Ltd. is an Australian based mining company with a focus on copper. The Company owns and operates the Prominent Hill copper-gold mine and the Carrapateena copper-gold project located in South Australia and has a number of equity interests in listed resource companies.

Yancoal Australia Limited provides coal mining services. The Company mines, processes, and sells pure-coal, metallurgical coal, and more. Yancoal Australia also exports its products.

MMG Limited is a mid-tier global resources company which explores, develops and mines base metal projects around the world.  The Company currently owns and operates the Century, Golden Grove and Rosebery mines in Australia, the Kinsevere mine in the Democratic Republic of Congo (DRC) and the LXML Sepon mine in Laos.

Evolution Mining Ltd is a gold exploration company with operations in Western Australia. The Company owns the gold mines -Cracow, Edna May, Mt Rawdon, and Pajingo - and the Mt Carlton development project.

IGO Limited operates as an exploration company. The Company explores and mines copper, ore, nickel, gold, and other mineral resources. IGO serves customers worldwide.

Alumina Limited is an Australian resource company that produces alumina.  The Company owns about 40% of Alcoa World Alumina and Chemicals through a joint venture with Alcoa.

Sandfire Resources Limited is an Australian copper and gold producer. The Company's key asset is the DeGrussa Copper-Gold Mine located in Western Australia. Sandfire also has exploration assets targeting a range of commodities throughout Australia.

Lynas Corporation Limited explores and mines for rare earth minerals such as cerium and neodymium.

Genesis Minerals Limited is an Australian-based mineral exploration company. The Company acquires commercially significant mineral deposits that can be brought into production.

Kobe Steel, Ltd. is a steelmaker, as well as a supplier of aluminum and copper products.  The products include steel plates and steel rods.  The Company also operates other businesses such as welding consumables, urban infrastructure, plant engineering, and industrial & construction machinery.  Kobe Steel has operating offices in the US, Europe, and Asia.

National Aluminium Co. Ltd. is an integrated aluminum manufacturer. The Company mines for bauxite, refines bauxite into aluminum and manufactures and sells aluminum and aluminum products. National Aluminium Company's products include bauxite, aluminum hydrate, calcined aluminum, aluminum ingots and aluminum wire rods, as well as electricity which is generated for captive consumption.

NMDC Limited explores for minerals. The Company is exploring for iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands.

Yunnan Aluminium Co., Ltd. primarily manufactures and markets aluminum products. The Company's products include aluminum ingots, aluminum rolls, and aluminum alloys.

Jinduicheng Molybdenum Co.,Ltd. is involved in molybdenum mining, dressing, smelting, processing, research and trade in Asia.

Jinduicheng Molybdenum Co, Ltd. (601958 CH)

Huaibei Mining Holdings Co.,Ltd. operates coal businesses. The Company mines, processes, and distributes coal, cokes, coal chemical products, and other products. Huaibei Mining Holdings also produces methanol, crude benzene, ammonium sulfate, and other products.

Shandong Nanshan Aluminum Co., Ltd. designs, manufactures, and markets aluminum products and worsted woolen products. The Company's major aluminum offerings are electrolytic aluminum and section aluminum. Its woolen products include soybean fiber fabrics, silk fabrics, wool/flax fabrics and cashmere. Shandong also generates and supplies electricity.

Nanjing Iron & Steel Co., Ltd. produces a variety of iron and steel products. The Company's products include steel plates, steel belts, structure steel, concrete iron, steel billets, cast iron, and related by-products.

Zhaojin Mining Industry Company Ltd. explores, mines, and produces gold.  The Company holds interest in properties in eastern China.

Hoa Phat Group JSC is a multi-disciplinary manufacturing company. The Company manufactures a wide range of products, including steel, steel pipe, furniture, and refrigeration equipment.

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)

Pilbara Looks Within While Paladin Opts to Buy

Investors eyeing Pilbara Minerals for potential growth as the company aims for significant expansion, despite an increase in operating costs and...

Money of Mine

ASX Short Interest Weekly (Jun 14th): BHP, Champion Iron, Woolworths

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Champion Iron, Woolworths.

Ke Yan, CFA, FRM

Uranium Grows, Lithium Woes

Deterra is considering acquiring Trident royalties in a deal valued at 49 pence per share, which would involve assuming Trident's debt and cutting...

Money of Mine

MV Australia Equal Weight Index Rebalance: IDP Education (IEL) & Lendlease Group (LLC) Out

IDP Education and Lendlease Group will be deleted from the MV Australia Equal Weight Index. Constituent, float and capping changes will result in 1...

Brian Freitas

MV Global Rare Earth/Strategic Metals Index Rebalance: Two Deletions & Other Changes

Core Lithium and Piedmont Lithium will be deleted from the index in June. Estimated 1-way turnover is 6.4% resulting in a 1-way trade of US$28m....

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Pilbara Looks Within While Paladin Opts to Buy

Investors eyeing Pilbara Minerals for potential growth as the company aims for significant expansion, despite an increase in operating costs and...

Money of Mine

ASX Short Interest Weekly (Jun 14th): BHP, Champion Iron, Woolworths

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Champion Iron, Woolworths.

Ke Yan, CFA, FRM

Uranium Grows, Lithium Woes

Deterra is considering acquiring Trident royalties in a deal valued at 49 pence per share, which would involve assuming Trident's debt and cutting...

Money of Mine

MV Australia Equal Weight Index Rebalance: IDP Education (IEL) & Lendlease Group (LLC) Out

IDP Education and Lendlease Group will be deleted from the MV Australia Equal Weight Index. Constituent, float and capping changes will result in 1...

Brian Freitas

MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: Two Deletions & Other Changes

Core Lithium and Piedmont Lithium will be deleted from the index in June. Estimated 1-way turnover is 6.4% resulting in a 1-way trade of US$28m....

Brian Freitas

MV Global Rare Earth/Strategic Metals Index Rebalance: Two Deletions & Other Changes