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/gold-road-resources-ltd" target="_blank" data-smartkarma-citation="entities:6698:1" rel="noopener">Gold Road Resources (GOR AU)</a> IE considers <a href="https://www.smartkarma.com/entities/gold-fields-ltd" target="_blank" data-smartkarma-citation="entities:25109:1" rel="noopener">Gold Fields Ltd (GFI SJ)</a>’s offer fair and reasonable. The offer is A$2.52 cash + value per share of GOR's NST stake.</li>
<li>The key condition is GOR shareholder approval. The scheme vote should pass partly due to the benign shareholder structure.  </li>
<li>The offer is attractive. At the last close and for a 13 October payment, the gross/annualised spread is 1.2%/8.1%. </li>
</ul>


The Gold Road Resources (GOR AU) IE considers Gold Fields Ltd (GFI SJ)’s offer fair and reasonable. The offer is A$2.52 cash + value per share of GOR's NST stake.
The key condition is GOR shareholder approval. The scheme vote should pass partly due to the benign shareholder structure.  
The offer is attractive. At the last close and for a 13 October payment, the gross/annualised spread is 1.2%/8.1%. 


Gold Road (GOR AU): Gold Fields (GFI US)’s Scheme Vote on 22 September

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.

Thematic (Sector/Industry)

<ul><li>Shareholder activism emerging at Warriedar due to dissatisfaction with accepted deal</li><li>Significant drop in BOSS stock price following disappointing quarterly report and guidance update for FY26</li><li>Challenges in achieving nameplate capacity, specifically related to volume under leach, leading to increased costs and uncertainty for the company's future performance</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Shareholder activism emerging at Warriedar due to dissatisfaction with accepted dealSignificant drop in BOSS stock price following disappointing quarterly report and guidance update for FY26Challenges in achieving nameplate capacity, specifically related to volume under leach, leading to increased costs and uncertainty for the company's future performanceThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Horror Week for Boss, Greatland and Liontown

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

Index Rebalance

<ul>
<li>S&amp;P DJI have proposed methodology changes to the S&amp;P/ASX family of indices to enhance representativeness and more quickly reflecting changing market conditions.</li>
<li>The main changes are lowering the minimum float threshold, shortening the market cap calculation period and the liquidity calculation period, and including buffers for additions and deletions.</li>
<li>We currently forecast 47 changes to the S&amp;P/ASX family of indices in September and the short market cap computation period could lead to more change over the next two months.</li>
</ul>


S&amp;P DJI have proposed methodology changes to the S&amp;P/ASX family of indices to enhance representativeness and more quickly reflecting changing market conditions.
The main changes are lowering the minimum float threshold, shortening the market cap calculation period and the liquidity calculation period, and including buffers for additions and deletions.
We currently forecast 47 changes to the S&amp;P/ASX family of indices in September and the short market cap computation period could lead to more change over the next two months.


S&P/ASX Indices: Proposed Methodology Changes & The BIG September Rebalance

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the September 2025 index rebal event.</li>
<li>Currently, a market consultation is being conducted and there could be several significant changes made to the index selection process.</li>
<li>The official index changes will be announced after the close on Friday 5th September 2025.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the September 2025 index rebal event.
Currently, a market consultation is being conducted and there could be several significant changes made to the index selection process.
The official index changes will be announced after the close on Friday 5th September 2025.


Quiddity Leaderboard ASX Sep25: Exp ADDs Down Vs Exp DELs Since Methodology Change; Time to Reverse?

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

Australian Broker Call *Extra* Edition - Jul 24, 2025

Australia

Capricorn Metals Ltd operates as an exploration and production company. The Company specializes in the gold exploration and production services. Capricorn Metals serves customers in Australia.

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Capricorn Metals (CMM AU)

Gold Road (GOR AU): Gold Fields (GFI US)’s Scheme Vote on 22 September

The vote is low-risk. The offer is attractive. At the last close and for a 13 October payment, the gross/annualised spread is 1.2%/8.1%.

Arun George

Horror Week for Boss, Greatland and Liontown

World Art Resources faces shareholder activism, Boss experiences share movement after disappointing outlook, lower uranium concentration affects...

Money of Mine

S&P/ASX Indices: Proposed Methodology Changes & The BIG September Rebalance

The market consultation ends in 2 weeks, and the conclusions should be announced soon after that. A lot of the stocks have moved significantly over...

Brian Freitas

Quiddity Leaderboard ASX Sep25: Exp ADDs Down Vs Exp DELs Since Methodology Change; Time to Reverse?

We believe the newly proposed methodology would be implemented during the September 2025 index review. The expected ADDs have been underperforming...

Janaghan Jeyakumar, CFA

Australian Broker Call Extra Edition - Jul 24, 2025

Extra Edition of the Broker Call Report

FNArena

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