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

Rikki Malik

Commodities

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>Company results support our outlook on the nuclear power renaissance</li>
<li>The latest Deepseek model outperforms all competitors but valued at a fraction of them </li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Company results support our outlook on the nuclear power renaissance
The latest Deepseek model outperforms all competitors but valued at a fraction of them 


Breaking Down the Mining News of the Day, Money of Mine

Money of Mine

Breaking Down the Mining News of the Day

An ex-underground miner, an ex-investment banker, and an ex-equity research guy breaking down the mining news of the day. It's a bit of entertainment, information, and occasionally some alpha.

<ul><li>Recent changes in Canada's M&amp;A rules have restricted critical metal companies from selling to Chinese investors</li><li>Chinese investors have played a key role in funding the exploration and development of copper porphyries, which are vital for global production</li><li>The uncertainty caused by these rules may lead companies to relocate outside of Canada, potentially harming the country's mining industry and economy</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Recent changes in Canada's M&amp;A rules have restricted critical metal companies from selling to Chinese investorsChinese investors have played a key role in funding the exploration and development of copper porphyries, which are vital for global productionThe uncertainty caused by these rules may lead companies to relocate outside of Canada, potentially harming the country's mining industry and economyThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Warren Irwin on Uranium, Canada & Contrarian Opportunities

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>After dropping all the way back down to $75 on September 26th, OPEC’s ~1M/barrel day production cut announcement last week was followed up by another bullish crude oil inventory draw last week, which sent WTI crude oil rocketing higher 16%. </li><li>This was the largest weekly gain since Russia invaded Ukraine and caught the market by surprise. </li><li>The production cut also sent a strong signal to President Biden after OPEC agreed to a production increase in early August after his Saudi Arabia visit (last week’s cut was more than 9X the production increase previously agreed to!). </li></ul>

After dropping all the way back down to $75 on September 26th, OPEC’s ~1M/barrel day production cut announcement last week was followed up by another bullish crude oil inventory draw last week, which sent WTI crude oil rocketing higher 16%. This was the largest weekly gain since Russia invaded Ukraine and caught the market by surprise. The production cut also sent a strong signal to President Biden after OPEC agreed to a production increase in early August after his Saudi Arabia visit (last week’s cut was more than 9X the production increase previously agreed to!). 

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

Bharat Coking Coal Limited (BCCL) / Equity Bottom-Up

Bharat Coking Coal Limited (BCCL) (7535956Z IN)

<ul>
<li>BCCL, India's sole prime coking coal producer with 58.5% domestic market share, is preparing for a public listing with an imminent Block-E (15 MTPA) capacity expansion tendering underway.</li>
<li>India imports 90% of steel-grade coking coal, spending foreign exchange on a commodity BCCL controls domestically. </li>
<li>BCCL is a structural beneficiary of India's infrastructure decade, but washery yield improvement and quality upgrade remain the critical unlock between raw-coal miner and premium steel-sector supplier.</li>
</ul>


BCCL, India's sole prime coking coal producer with 58.5% domestic market share, is preparing for a public listing with an imminent Block-E (15 MTPA) capacity expansion tendering underway.
India imports 90% of steel-grade coking coal, spending foreign exchange on a commodity BCCL controls domestically. 
BCCL is a structural beneficiary of India's infrastructure decade, but washery yield improvement and quality upgrade remain the critical unlock between raw-coal miner and premium steel-sector supplier.


Bharat Coking Coal Limited: India's Only Prime Coking Coal Producer

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On the 14th April, <a href="https://www.smartkarma.com/entities/yancoal-australia-ltd" target="_blank" data-smartkarma-citation="entities:4145:1" rel="noopener">Yancoal (YAL AU)</a> <a href="https://announcements.asx.com.au/asxpdf/20260414/pdf/06yh1vf2g4rt14.pdf" target="_blank" rel="noopener">announced</a> it had entered into a transaction to acquire a majority stake in the Kestrel coal mine, located in Queensland, for "up to" US$2.4bn. </li>
<li>Yancoal intends to acquire the 80% stake held by EMR Capital and <a href="https://www.smartkarma.com/entities/adaro-energy-tbk-pt" target="_blank" data-smartkarma-citation="entities:6061:1" rel="noopener">Adaro Energy (ADRO IJ)</a> JV. Mitsui will maintain its 20% stake. </li>
<li>80% of Kestrel was previously held by <a href="https://www.smartkarma.com/entities/rio-tinto-ltd" target="_blank" data-smartkarma-citation="entities:13:1" rel="noopener">Rio Tinto Ltd (RIO AU)</a>, and sold for A$2.25bn in 2018. That transaction required FIRB approval. This transaction also requires FIRB signing off. </li>
</ul>


On the 14th April, Yancoal (YAL AU) announced it had entered into a transaction to acquire a majority stake in the Kestrel coal mine, located in Queensland, for "up to" US$2.4bn. 
Yancoal intends to acquire the 80% stake held by EMR Capital and Adaro Energy (ADRO IJ) JV. Mitsui will maintain its 20% stake. 
80% of Kestrel was previously held by Rio Tinto Ltd (RIO AU), and sold for A$2.25bn in 2018. That transaction required FIRB approval. This transaction also requires FIRB signing off. 


Yancoal (YAL AU) Retraces Post Kestrel Mine Deal

United States

Alpha Metallurgical Resources, Inc. provides mining services. The Company mines and supplies metallurgical products to the steel industry. Alpha Metallurgical Resources serves customers globally.

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Alpha Metallurgical Resources (AMR US)

Overview #57 – Plus Ça Change…

A review of recent events/data impacting our investment themes and outlook. Oil, Nuclear, Deepseek and earnings from some of our stocks

Rikki Malik

Warren Irwin on Uranium, Canada & Contrarian Opportunities

Overall, the global outlook for the natural resource industry, particularly in Canada, is being impacted by resource nationalism and M&A rules

Money of Mine

Weekly Stock Bullfinder - Week of 10/10

After dropping all the way back down to $75 on September 26th, OPEC’s ~1M/barrel day production cut announcement last week was followed up by...

Weekly Stock Bull Finder

Bharat Coking Coal Limited: India's Only Prime Coking Coal Producer

India's BCCL, dominant coking coal producer, gears up for public listing amid plans to expand capacity, aiming to reduce reliance on imported...

Nimish Maheshwari

Yancoal (YAL AU) Retraces Post Kestrel Mine Deal

Kestrel's already majority owned by foreigners and exports 100%. Perhaps behavioural remedies, at most, for FIRB, where possible, such that Yancoal...

David Blennerhassett

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52-week Range

Market Cap (USDm)

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Overview #57 – Plus Ça Change…

A review of recent events/data impacting our investment themes and outlook. Oil, Nuclear, Deepseek and earnings from some of our stocks

Rikki Malik

Warren Irwin on Uranium, Canada & Contrarian Opportunities

Overall, the global outlook for the natural resource industry, particularly in Canada, is being impacted by resource nationalism and M&A rules

Money of Mine

Weekly Stock Bullfinder - Week of 10/10

After dropping all the way back down to $75 on September 26th, OPEC’s ~1M/barrel day production cut announcement last week was followed up by...

Weekly Stock Bull Finder

Bharat Coking Coal Limited: India's Only Prime Coking Coal Producer

​India's BCCL, dominant coking coal producer, gears up for public listing amid plans to expand capacity, aiming to reduce reliance on imported...

Nimish Maheshwari

Yancoal (YAL AU) Retraces Post Kestrel Mine Deal

Kestrel's already majority owned by foreigners and exports 100%. Perhaps behavioural remedies, at most, for FIRB, where possible, such that Yancoal...

David Blennerhassett

India's BCCL, dominant coking coal producer, gears up for public listing amid plans to expand capacity, aiming to reduce reliance on imported...