Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The MV J-Gold Miners index represents the performance of small-cap and mid-cap gold and silver mining companies listed around the world.</li>
<li>There will be no index changes for the December 2024 rebal event.</li>
<li>We expect a one-way flow of US$168mm for December 2024, which translates to a turnover of 3.4%.</li>
</ul>


The MV J-Gold Miners index represents the performance of small-cap and mid-cap gold and silver mining companies listed around the world.
There will be no index changes for the December 2024 rebal event.
We expect a one-way flow of US$168mm for December 2024, which translates to a turnover of 3.4%.


[Quiddity Index] MVIS Junior Gold Miners Index Dec24 Rebalance Results: Flow Expectations

Harmony Gold Mining Co Ltd / Index Rebalance

<ul>
<li>The MV J-Gold Miners index represents the performance small-cap gold and silver mining companies listed around the world.</li>
<li>This index is reviewed semi-annually in March and September. During these reviews, names can be added or deleted from the index.</li>
<li>In this insight, we take a look at the potential ADDs and DELs and our flow expectations for the index rebal event in September 2024.</li>
</ul>


The MV J-Gold Miners index represents the performance small-cap gold and silver mining companies listed around the world.
This index is reviewed semi-annually in March and September. During these reviews, names can be added or deleted from the index.
In this insight, we take a look at the potential ADDs and DELs and our flow expectations for the index rebal event in September 2024.


Quiddity Leaderboard MV J-Gold Miners Sep 24:  Mergers Mean Possible Up-And-Out DELETEs

Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>Precious metal prices were up modestly in November, following strong performance in October.</li>
<li>The mining equities outperformed the metals and broader markets as capital seems to have finally started to flow back into the sector.</li>
<li>Sentiment Update Precious metals moved higher during the month of November following a strong month of gains in October.</li>
</ul>


Precious metal prices were up modestly in November, following strong performance in October.
The mining equities outperformed the metals and broader markets as capital seems to have finally started to flow back into the sector.
Sentiment Update Precious metals moved higher during the month of November following a strong month of gains in October.


Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dacian-gold-ltd" target="_blank" data-smartkarma-citation="entities:5749:1" rel="noopener">Dacian Gold Ltd (DCN AU)</a>, <a href="https://www.smartkarma.com/entities/gold-resource-corp" target="_blank" data-smartkarma-citation="entities:26517:1" rel="noopener">Gold Resource (GORO US)</a> and Wallbridge Mining Co (WM CN) will be deleted from the index at the close on 17 March.</li>
<li>One way turnover is estimated at 2.8% resulting in a one-way trade of US$96m. There is over 1 day of ADV to trade on 22 stocks.</li>
<li>The largest inflows are on Triple Flag Precious Metals (TFPM US), <a href="https://www.smartkarma.com/entities/osisko-gold-royalties-ltd" target="_blank" data-smartkarma-citation="entities:25587:1" rel="noopener">Osisko Gold Royalties</a>, <a href="https://www.smartkarma.com/entities/zhaojin-mining-industry-company-ltd-h" target="_blank" data-smartkarma-citation="entities:4626:1" rel="noopener">Zhaojin Mining Industry</a>, New Found Gold (NFG CN), Yamana Gold, IAMGOLD and First Majestic Silver.</li>
</ul>



Dacian Gold Ltd (DCN AU), Gold Resource (GORO US) and Wallbridge Mining Co (WM CN) will be deleted from the index at the close on 17 March.
One way turnover is estimated at 2.8% resulting in a one-way trade of US$96m. There is over 1 day of ADV to trade on 22 stocks.
The largest inflows are on Triple Flag Precious Metals (TFPM US), Osisko Gold Royalties, Zhaojin Mining Industry, New Found Gold (NFG CN), Yamana Gold, IAMGOLD and First Majestic Silver.


MVIS Global Junior Gold Miners Index Rebalance: Three Deletions & Float Changes

<ul><li>Gold had strong start to the year rising over $100/oz to $1928/oz in January.</li><li>As we anticipated from our December note, the mining sector had a strong start to the year with gold and copper breaking out to near-term highs up 6% to $1928/oz and 12% to $4.20/lb, respectively, during the month of January.</li><li>The explorers, despite having a strong January, remain inexpensive and continue to trade at an average of ~$33/oz (in the ground), down ~50% from 2020 highs.</li></ul>

Gold had strong start to the year rising over $100/oz to $1928/oz in January.As we anticipated from our December note, the mining sector had a strong start to the year with gold and copper breaking out to near-term highs up 6% to $1928/oz and 12% to $4.20/lb, respectively, during the month of January.The explorers, despite having a strong January, remain inexpensive and continue to trade at an average of ~$33/oz (in the ground), down ~50% from 2020 highs.

Canada

Alamos Gold Inc. is an intermediate gold producer. The Company acquires, explores and produces gold from mines located in Canada, Mexico and the United States.

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Alamos Gold Inc (AGI CN)

[Quiddity Index] MVIS Junior Gold Miners Index Dec24 Rebalance Results: Flow Expectations

The MVIS Junior Gold Miners Index rebalance was announced. The index rebal itself is on 20 Dec. There are no index changes but there are capping/re...

Travis Lundy

Quiddity Leaderboard MV J-Gold Miners Sep 24: Mergers Mean Possible Up-And-Out DELETEs

The MV Junior Gold Miners Index is a very broad index of small-mid caps and decent tracking AUM. Deletes are either "too big" or "too small". Some...

Travis Lundy

Mining Monthly: November Edition

Sentiment Update Precious metals moved higher during the month of November following a strong month of gains in October.

Atrium Research

MVIS Global Junior Gold Miners Index Rebalance: Three Deletions & Float Changes

There are 3 deletions for the index plus plenty of float changes. One way turnover is estimated at 2.8% resulting in a one-way trade of US$96m....

Brian Freitas

Mining Monthly: January Edition

As we anticipated from our December note, the mining sector had a strong start to the year with gold and copper breaking out to near-term highs up...

Atrium Research

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