Daily Brief Australia: S&P/ASX 200, Rio Tinto Ltd, Recce Ltd and more

• The S&P/ASX 200 (AS51 INDEX) has declined two weeks in a row. Quantitative analysis suggests that a trend reversal could occur soon.
• This Insight provides an option strategy based on the resistance and support levels identified in the quantitative Insight EQD | ASX 200 Presents a High-Probability Buy-The-Dip Opportunity 
• Option liquidity and volatility analysis, including skew, term structure and put/call ratios are provided and used in strategy design.

• Rio doubles down on lithium investment in Rincon, with a US $2.5 billion expansion plan
• BHP and Rio have historically had differing views on commodities, with examples in Potash, aluminium, and mineral sands
• Rincon project aims to expand production to 60,000 tonnes per annum, with heavy reliance on DLE technology for extraction and processing

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Recce received approval from the Indonesian Drug and Food Regulatory Authority, Badan POM (BPOM), to start its registrational Phase III study in Indonesia of RECCE® 327 topical gel (R327G) in diabetic foot infections (DFIs). This was the final hurdle that needed to be overcome before study enrolment can proceed, which is expected to start before the end of 2024. Top-line data from the 300-patient double-blinded Phase III study (with 200 patients in the R327 arm and 100 on placebo) are anticipated in late 2025. If positive, we expect Recce would be able to launch R327G in South-East Asia in H2 CY26, potentially marking the company’s transition to a commercial stage.