Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>This insight recommends a basket of Asian-listed base metal producers.</li>
<li>Base metals, especially Copper, have a high probability of moving much higher as the AI race continues</li>
<li>We prefer to invest in the materials needed for the  building out of AI infrastructure  </li>
</ul>


This insight recommends a basket of Asian-listed base metal producers.
Base metals, especially Copper, have a high probability of moving much higher as the AI race continues
We prefer to invest in the materials needed for the  building out of AI infrastructure  


2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices # 2

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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

<ul>
<li>The <a href="https://www.smartkarma.com/entities/carnaby-resources-ltd" target="_blank" data-smartkarma-citation="entities:4197:1" rel="noopener">Carnaby Resources (CNB AU)</a> IE considers <a href="https://www.smartkarma.com/entities/evolution-mining-ltd" target="_blank" data-smartkarma-citation="entities:18363:1" rel="noopener">Evolution Mining (EVN AU)</a>’s offer (0.0682 EVN shares per CNB share) fair and reasonable.</li>
<li>Evolution waived the ACCC condition on 17 September. The key condition is Carnaby shareholder approval (value and headcount test).</li>
<li>The scheme vote is low as retail opposition has waned and no disinterested shareholder holds a blocking stake. At the last close, the gross/annualised spread was 0.4%/3.1%.</li>
</ul>


The Carnaby Resources (CNB AU) IE considers Evolution Mining (EVN AU)’s offer (0.0682 EVN shares per CNB share) fair and reasonable.
Evolution waived the ACCC condition on 17 September. The key condition is Carnaby shareholder approval (value and headcount test).
The scheme vote is low as retail opposition has waned and no disinterested shareholder holds a blocking stake. At the last close, the gross/annualised spread was 0.4%/3.1%.


Carnaby Resources (CNB AU): Scheme Vote on 26 October

Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>A summary of the highlights from Broker Call Extra updates throughout the week past.</li></ul>

A summary of the highlights from Broker Call Extra updates throughout the week past.

Bellevue Gold Ltd - In Case You Missed It - BC Extra Upgrades & Downgrades - 25-07-25

<ul><li>Extra Edition of the Broker Call Report</li></ul>

29Metals Ltd - Australian Broker Call *Extra* Edition - Jul 22, 2025

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Dec 13th (reported today) which has an aggregated short interest worth USD21.8bn.</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 Pilbara Minerals, Xero, Apa, Coles, Wisetech Global.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Dec 13th (reported today) which has an aggregated short interest worth USD21.8bn.
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 Pilbara Minerals, Xero, Apa, Coles, Wisetech Global.


ASX Short Interest Weekly (Dec 13th): Pilbara Minerals, Xero, Apa, Coles, Wisetech Global

Australia

29Metals Limited provides exploration and mining services. The Company explores and develops base and precious metals assets. 29Metals serves customers worldwide.

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29Metals (29M AU)

2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices # 2

Copper trading above $6/lb - a new ALL TIME HIGH. As we wrote here, $5 is the new floor. Spec positioning in futures close to levels signalling...

Rikki Malik

Carnaby Resources (CNB AU): Scheme Vote on 26 October

The scheme vote is low as retail opposition has waned and no disinterested shareholder holds a blocking stake. At the last close, the gross...

Arun George

Bellevue Gold Ltd - In Case You Missed It - BC Extra Upgrades & Downgrades - 25-07-25

A summary of the highlights from Broker Call Extra updates throughout the week past.

FNArena

29Metals Ltd - Australian Broker Call Extra Edition - Jul 22, 2025

Extra Edition of the Broker Call Report

FNArena

ASX Short Interest Weekly (Dec 13th): Pilbara Minerals, Xero, Apa, Coles, Wisetech Global

We analyzed ASX short interest report for the past week and highlight short interest changes in Pilbara Minerals, Xero, Apa, Coles, Wisetech Global.

Ke Yan, CFA, FRM

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52-week Range

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