IPO and L/S equity, 2015 Starmine top stock picker, Global Equity Research Ltd

Rickin Thakrar

IPO and L/S equity, 2015 Starmine top stock picker

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

We have received requests to provide a calendar of upcoming catalysts for near-term M&amp;A, stubs and erstwhile event-driven names. Below is a list of catalysts over the near-term for such names as below. If you are interested in importing this directly into Outlook or have any further requests, please let us know. 
Kind regards, Rickin Arun and Venkat

We have received requests to provide a calendar of upcoming catalysts for near-term M&amp;A, stubs and erstwhile event-driven names. Below is a list of catalysts over the near-term for such names as below. If you are interested in importing this directly into Outlook or have any further requests, please let us know. 
Kind regards, Rickin Arun and Venkat

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Golden Investments (Australia) - a company jointly owned by <a href="https://www.smartkarma.com/entities/20826" target="_blank" data-smartkarma-citation="entities:20826:1">Golden Energy &amp; Resources (GER SP)</a> ("GEAR") and Ascend Global Investment Fund - has made a <a href="https://www.asx.com.au/asxpdf/20181119/pdf/440dlhl6sf47hg.pdf" target="_blank">takeover bid</a> for <a href="https://www.smartkarma.com/entities/15252" target="_blank" data-smartkarma-citation="entities:15252:1">Stanmore Coal (SMR AU)</a> at A$0.95/share, a 14.5% premium to last close, in an A$201mn deal.
Stanmore is up nearly 20-fold since July 2015, after Stanmore <a href="https://www.asx.com.au/asxpdf/20150730/pdf/43041x9lwg7spg.pdf" target="_blank">acquired the Isaac Plains Coal Mine</a> for the total consideration of $1. Coal revenue from that mine was first generated in June 2016. 
Separately GEAR has entered into a <a href="http://infopub.sgx.com/FileOpen/1.%20GEAR%20-%20Chapter%2010%20Announcement.ashx?App=Announcement&amp;FileID=534463" target="_blank">share sale agreement</a> with Greatgroup (Sprint) to acquire 50.1mn shares or 19.9% of Stanmore's shares outstanding.  Assuming the Offer is successful, GEAR will sell this stake to Golden Investments.
Stanmore recommends shareholders take no action. With a three-fold increase in EBITDA forecast in FY19 - as the Isaac Plains' mines ramp up output - and the fact the Offer price is at a 5% discount to where shares traded a month ago, I'd be surprised if the board supports the Offer. 
Trading at A$0.99. Recommend buying around here, or a tick or two below. There's a temporary floor to the price, one in which the Offeror may (or should) bump, or simply to play the back-end. The Offer price backs out an inexpensive FY20E EV/EBITDA of ~2x.

Golden Investments (Australia) - a company jointly owned by Golden Energy &amp; Resources (GER SP) ("GEAR") and Ascend Global Investment Fund - has made a takeover bid for Stanmore Coal (SMR AU) at A$0.95/share, a 14.5% premium to last close, in an A$201mn deal.
Stanmore is up nearly 20-fold since July 2015, after Stanmore acquired the Isaac Plains Coal Mine for the total consideration of $1. Coal revenue from that mine was first generated in June 2016. 
Separately GEAR has entered into a share sale agreement with Greatgroup (Sprint) to acquire 50.1mn shares or 19.9% of Stanmore's shares outstanding.  Assuming the Offer is successful, GEAR will sell this stake to Golden Investments.
Stanmore recommends shareholders take no action. With a three-fold increase in EBITDA forecast in FY19 - as the Isaac Plains' mines ramp up output - and the fact the Offer price is at a 5% discount to where shares traded a month ago, I'd be surprised if the board supports the Offer. 
Trading at A$0.99. Recommend buying around here, or a tick or two below. There's a temporary floor to the price, one in which the Offeror may (or should) bump, or simply to play the back-end. The Offer price backs out an inexpensive FY20E EV/EBITDA of ~2x.

Stanmore Should Hold Out For A Superior Offer

Australia

Stanmore Coal Ltd. explores for coal in Australia. The Company's interests include a portfolio of coal assets within Queensland's Bowen and Surat Basin coal provinces.

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Stanmore Coal (SMR AU)

GER Upcoming EVENTS Calendar

We have received requests to provide a calendar of upcoming catalysts for near-term M&A, stubs and erstwhile event-driven names. Below is a...

Rickin Thakrar

Stanmore Should Hold Out For A Superior Offer

Golden Investments (Australia) - a company jointly owned by Golden Energy & Resources (GER SP) ("GEAR") and Ascend Global Investment Fund - has...

David Blennerhassett

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