Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Last week, <a href="https://www.smartkarma.com/entities/mincor-resources-nl" target="_blank" data-smartkarma-citation="entities:6731:1" rel="noopener">Mincor Resources NL (MCR AU)</a> said <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group Ltd (BHP AU)</a> would <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02649202-6A1143054?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">not agree to amend off-take agreement specifications</a>, and therefore would no longer accept lower-quality ore.</li>
<li>Mincor subsequently withdrew its earnings guidance, and Wyloo Metals shortly followed by declaring its A$1.40/share unconditional on-market Offer <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02650576-6A1143658?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">best and final</a>.</li>
<li>This morning (4 April), Mincor released its <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02651163-6A1143881?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">Target Statement</a>, and recommends shareholders accept the Offer from Wyloo.</li>
</ul>


Last week, Mincor Resources NL (MCR AU) said BHP Group Ltd (BHP AU) would not agree to amend off-take agreement specifications, and therefore would no longer accept lower-quality ore.
Mincor subsequently withdrew its earnings guidance, and Wyloo Metals shortly followed by declaring its A$1.40/share unconditional on-market Offer best and final.
This morning (4 April), Mincor released its Target Statement, and recommends shareholders accept the Offer from Wyloo.


Mincor Backs Wyloo's Offer After BHP Offtake Uncertainties

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Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

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<ul>
<li>Tesla managed the late hour surge it needed to "beat" rapidly falling market estimates</li>
<li>But results were still shy of management's target for more than 37% y/y growth (much less its abandoned goal for more than 50% growth y/y)</li>
<li>Drastic measures to meet expectations likely came at the cost of already waning revenue quality and shrinking profit margins.</li>
</ul>


Tesla managed the late hour surge it needed to "beat" rapidly falling market estimates
But results were still shy of management's target for more than 37% y/y growth (much less its abandoned goal for more than 50% growth y/y)
Drastic measures to meet expectations likely came at the cost of already waning revenue quality and shrinking profit margins.


Tesla Q1 Deliveries "Beat" Rapidly Falling Market Estimates But Miss Management Guidance

<ul>
<li>Earlier today (30 March), <a href="https://www.smartkarma.com/entities/mincor-resources-nl" target="_blank" data-smartkarma-citation="entities:6731:1" rel="noopener">Mincor Resources NL (MCR AU)</a> said <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group (BHP AU)</a> would not agree to amend off-take agreement specifications, and will no longer accept lower-quality ore.</li>
<li>Mincor delivers 100% of its ore to BHP.  It will continue to deliver on-specification ore to BHP, but has withdrawn its forward guidance. </li>
<li>Shares rolled over 5.7% to close at A$1.42/share, above Wyloo's unconditional A$1.40/share. Offer.</li>
</ul>


Earlier today (30 March), Mincor Resources NL (MCR AU) said BHP Group (BHP AU) would not agree to amend off-take agreement specifications, and will no longer accept lower-quality ore.
Mincor delivers 100% of its ore to BHP.  It will continue to deliver on-specification ore to BHP, but has withdrawn its forward guidance. 
Shares rolled over 5.7% to close at A$1.42/share, above Wyloo's unconditional A$1.40/share. Offer.


Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

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Cross Asset Strategy

<ul><li>Cover Story: Chinese automakers rev up price war in race for market dominance</li><li>China will do more to open its markets, vice premier says</li><li>China invites Honduras president to visit after establishing diplomatic ties</li></ul>

Cover Story: Chinese automakers rev up price war in race for market dominanceChina will do more to open its markets, vice premier saysChina invites Honduras president to visit after establishing diplomatic ties

CX Daily: Chinese Auto Makers Rev Up Price War in Race for Market Dominance

<ul>
<li>Lithium play <a href="https://www.smartkarma.com/entities/liontown-resources-ltd" target="_blank" data-smartkarma-citation="entities:20488:1" rel="noopener">Liontown Resources (LTR AU)</a> has now thrice rejected <a href="https://www.smartkarma.com/entities/albemarle-corp" target="_blank" data-smartkarma-citation="entities:7678:1" rel="noopener">Albemarle Corp (ALB US)</a>'s proposals. </li>
<li>Liontown has labeled Albermarle's third bid of A$2.50/share as opportunistic. </li>
<li>Albemarle has picked up 2.2% in Liontown. But that is dwarfed by Tim Goyder's (chairman)'s 15% stake, who is not engaged at the current bid price. </li>
</ul>


Lithium play Liontown Resources (LTR AU) has now thrice rejected Albemarle Corp (ALB US)'s proposals. 
Liontown has labeled Albermarle's third bid of A$2.50/share as opportunistic. 
Albemarle has picked up 2.2% in Liontown. But that is dwarfed by Tim Goyder's (chairman)'s 15% stake, who is not engaged at the current bid price. 


Liontown (LTR AU) Rejects Albemarle's Advances

United States

Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers.

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Tesla (TSLA US)

Mincor Backs Wyloo's Offer After BHP Offtake Uncertainties

Wyloo's broker will be standing in the market at $1.40. Only buy above terms on the expectation of a competing Offer. Yet with Wyoloo holding 23%+,...

David Blennerhassett

Tesla Q1 Deliveries "Beat" Rapidly Falling Market Estimates But Miss Management Guidance

Tesla managed a late hour surge needed to "beat" rapidly falling market estimates, but results still shy of management's target for more than 37% y...

Vicki Bryan

Mincor: Did Twiggy Thwart BHP Offtake?

Mincor's inability to supply BHP with the inferior product will eat into costs. And sentiment. That probably plays into Wyloo's court. Your...

David Blennerhassett

CX Daily: Chinese Auto Makers Rev Up Price War in Race for Market Dominance

Cover Story: Chinese automakers rev up price war in race for market dominance. China will do more to open its markets, vice premier says

Caixin Global

Liontown (LTR AU) Rejects Albemarle's Advances

What is "fair" is highly subjective, given volatile lithium prices, EV demand, and general sentiment. But I couldn't recommend chasing it here. ...

David Blennerhassett

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