External broker reports(aggregated public sources), Moelis Australia Ltd

MA Moelis Australia

External broker reports(aggregated public sources)

Moelis Australia Ltd

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Equity Bottom-Up

Silk Logistics Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides port logistics, warehousing, and distribution services for FMCG, retail, light industrial, food, and dairy sectors. Silk Logistics Holdings serves customers in Australia.

<div><ul><li>Silk Logistics Holdings Limited (SLH) has entered into a binding Scheme Implementation Deed (SID) with DP World Australia Limited (DP World) for the proposed acquisition of 100% of the shares in SLH.</li><li>SLH shareholders will receive $2.14/share, less any dividends declared prior to the Scheme implementation.</li><li>The offer values SLH equity at approximately $174.5m and represents a significant premium to recent trading. </li></ul></div>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.

Silk Logistics Holdings Limited (SLH) has entered into a binding Scheme Implementation Deed (SID) with DP World Australia Limited (DP World) for the proposed acquisition of 100% of the shares in SLH.SLH shareholders will receive $2.14/share, less any dividends declared prior to the Scheme implementation.The offer values SLH equity at approximately $174.5m and represents a significant premium to recent trading. 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.

Silk Logistics Holding Ltd - DP World Make Cash Offer of $2.14/Share

Carnaby Resources Ltd provides mining services. The Company offers mineral exploration, project development, and finance services. Carnaby Resources serves customers in Australia.

<ul><li>Carnaby Resources is an Australian listed minerals explorer with projects throughout Australia targeting copper, gold and lithium deposits.</li><li>The flagship asset is the Greater Duchess Project, approximately 70km southeast of Mt Isa, hosting an in-situ resource of over 300kt Cu Eq having only been discovered in early 2022.</li><li>The Greater Duchess Project hosts numerous zones of mineralisation with the current mineral resource hosting 21.8mt at 1.3% Cu and 0.2g/t Au. This material was recently the subject of a scoping study (May 2024).</li></ul>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.

Carnaby Resources is an Australian listed minerals explorer with projects throughout Australia targeting copper, gold and lithium deposits.The flagship asset is the Greater Duchess Project, approximately 70km southeast of Mt Isa, hosting an in-situ resource of over 300kt Cu Eq having only been discovered in early 2022.The Greater Duchess Project hosts numerous zones of mineralisation with the current mineral resource hosting 21.8mt at 1.3% Cu and 0.2g/t Au. This material was recently the subject of a scoping study (May 2024).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.

Carnaby Resources Ltd -  Commencing Coverage at Buy with $0.86 Price Target

<ul><li>Cash: $6.5m (includes $0.5m restricted cash) (MA est. $6.8m)</li><li>Exploration expenditure: $2.4m ($3.0m)</li><li>Discovery of new San Quentin Deposit following VTEM campaign (see our first take here)</li></ul>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.

Cash: $6.5m (includes $0.5m restricted cash) (MA est. $6.8m)Exploration expenditure: $2.4m ($3.0m)Discovery of new San Quentin Deposit following VTEM campaign (see our first take here)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.

Carnaby Resources Ltd - 1Q FY25 Activities: On Track Toward Duchess Development

GenusPlus Group Ltd provides power and telecommunications solutions. The Company offers power solutions, telecommunications infrastructure, and technical services. GenusPlus Group serves customers in Australia.

<ul><li>Strong FY24 result, with good growth across key metrics, broadly in line with upgraded guidance and expectations.</li><li>The company reported FY24 normalised EBITDA of $45.3m (+23% vs pcp) and underlying NPATA of $22.3m (+31% vs pcp).</li><li>Record cash balance of $101m at Jun’24 end; fully franked final dividend of 2.5cps.</li></ul>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.

Strong FY24 result, with good growth across key metrics, broadly in line with upgraded guidance and expectations.The company reported FY24 normalised EBITDA of $45.3m (+23% vs pcp) and underlying NPATA of $22.3m (+31% vs pcp).Record cash balance of $101m at Jun’24 end; fully franked final dividend of 2.5cps.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.

GenusPlus Group Ltd - Growth to Continue in FY25

<ul><li>Revenue and EBITDA ahead of MAe, though FY24 underlying NPAT of $11.5m was behind MAe due to higher depreciation and interest charges.</li><li>Revenue growth was assisted by ten- month contribution from the Secon acquisition, and accounted for almost all of the top line growth in FY24, while trading conditions particularly impacted Contract Logistics.</li><li>Underlying EBITDA margin of 17.2% was broadly maintained by strong operational focus and execution. </li></ul>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.

Revenue and EBITDA ahead of MAe, though FY24 underlying NPAT of $11.5m was behind MAe due to higher depreciation and interest charges.Revenue growth was assisted by ten- month contribution from the Secon acquisition, and accounted for almost all of the top line growth in FY24, while trading conditions particularly impacted Contract Logistics.Underlying EBITDA margin of 17.2% was broadly maintained by strong operational focus and execution. 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.

Silk Logistics Holding Ltd - Focus on Organic Growth in FY25