Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/entree-resources-ltd-3aeeb68c-80d0-4ada-822e-898883fbb28e" target="_blank" data-smartkarma-citation="entities:26727:1" rel="noopener">Entree Resources (ETG CN)</a> has been in an arbitration proceeding against <a href="https://www.smartkarma.com/entities/rio-tinto-plc" target="_blank" data-smartkarma-citation="entities:22114:1" rel="noopener">Rio Tinto PLC (RIO LN)</a> since April 2024.</li>
<li>After initial hearings earlier in 1H24 we expect final arguments next week. The arbitration committee verdict should come by late 3Q24.</li>
<li>At stake is the relationship and ownership arrangement between ETG and RIO's in Oyu Tolgoi, one of the world's largest copper mines. Just concluded Mongolian elections clear the last hurdle.</li>
</ul>



Entree Resources (ETG CN) has been in an arbitration proceeding against Rio Tinto PLC (RIO LN) since April 2024.
After initial hearings earlier in 1H24 we expect final arguments next week. The arbitration committee verdict should come by late 3Q24.
At stake is the relationship and ownership arrangement between ETG and RIO's in Oyu Tolgoi, one of the world's largest copper mines. Just concluded Mongolian elections clear the last hurdle.


Mongolia Elections Behind Us and Rio Versus Entree Arbitration Ruling Expected by Late 3Q24

Thematic (Sector/Industry)

<ul>
<li>Our insight 2024 High Conviction: Junior Copper Miners garnered significant interest in late 2023, we hereby provide another update on our favorite junior copper names.</li>
<li>Copper prices have started to tick up (+16% YTD) on squeezed global supply and <a href="https://www.smartkarma.com/entities/bhp-group-ltd-832e22a7-7a1d-49cf-b992-c6347084cbf8" target="_blank" data-smartkarma-citation="entities:21840:1" rel="noopener">BHP Group Ltd (BHP LN)</a>  making an offer for <a href="https://www.smartkarma.com/entities/anglo-american-plc" target="_blank" data-smartkarma-citation="entities:21798:1" rel="noopener">Anglo American (AAL LN)</a>.</li>
<li>Entree Resources (ETG CN) has performed strongest +29% while Arras Minerals (ARK V EQUITY) has been a laggard at -12% YTD.</li>
</ul>


Our insight 2024 High Conviction: Junior Copper Miners garnered significant interest in late 2023, we hereby provide another update on our favorite junior copper names.
Copper prices have started to tick up (+16% YTD) on squeezed global supply and BHP Group Ltd (BHP LN)  making an offer for Anglo American (AAL LN).
Entree Resources (ETG CN) has performed strongest +29% while Arras Minerals (ARK V EQUITY) has been a laggard at -12% YTD.


Junior Copper Miners: Many Juniors Are Lagging Copper Price YTD

<ul>
<li>2023 was the year of Uranium. Both the underlying commodity and most uranium equity-linked stories performed strongly.</li>
<li>2024 will be the story about copper and supply side issues becoming front and center as the "energy transition" benefits copper usage.</li>
<li>Buy a basket of junior copper companies with high M&amp;A likelihood such as <a href="https://www.smartkarma.com/entities/los-andes-copper-ltd" target="_blank" data-smartkarma-citation="entities:35434:1" rel="noopener">Los Andes Copper Ltd (LA CN)</a>, <a href="https://www.smartkarma.com/entities/solaris-resources-inc" target="_blank" data-smartkarma-citation="entities:40176:1" rel="noopener">Solaris Resources (SLS CN),</a> <a href="https://www.smartkarma.com/entities/arras-minerals-corp" target="_blank" data-smartkarma-citation="entities:40384" rel="noopener">Arras Minerals (ARK V EQUITY)</a>, and <a href="https://www.smartkarma.com/entities/entree-resources-ltd-3aeeb68c-80d0-4ada-822e-898883fbb28e" target="_blank" data-smartkarma-citation="entities:26727:1" rel="noopener">Entree Resources (ETG CN)</a>. </li>
</ul>


2023 was the year of Uranium. Both the underlying commodity and most uranium equity-linked stories performed strongly.
2024 will be the story about copper and supply side issues becoming front and center as the "energy transition" benefits copper usage.
Buy a basket of junior copper companies with high M&amp;A likelihood such as Los Andes Copper Ltd (LA CN), Solaris Resources (SLS CN), Arras Minerals (ARK V EQUITY), and Entree Resources (ETG CN). 


2024 High Conviction: Junior Copper Miners

<ul>
<li>
<a href="https://www.smartkarma.com/entities/solaris-resources-inc" target="_blank" data-smartkarma-citation="entities:40176:1" rel="noopener">Solaris Resources (SLS CN)</a> yesterday announced it engaged Chinese investment bank CICC to help it with unsolicited M&amp;A approaches.</li>
<li>Solaris, Filo, Entree Resources, and Los Andes Copper are just four of the junior copper miners screening extremely well on M&amp;A criteria. </li>
<li>Most copper supply/demand models forecast a large supply shortage of copper in the coming decade. Junior copper miners with large deposits will become increasingly valuable.</li>
</ul>



Solaris Resources (SLS CN) yesterday announced it engaged Chinese investment bank CICC to help it with unsolicited M&amp;A approaches.
Solaris, Filo, Entree Resources, and Los Andes Copper are just four of the junior copper miners screening extremely well on M&amp;A criteria. 
Most copper supply/demand models forecast a large supply shortage of copper in the coming decade. Junior copper miners with large deposits will become increasingly valuable.


Chinese Interest in Solaris Resources Highlights Value in Junior Copper Equities

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>In this next installment of our #webinar Wednesdays, we welcome Smartkarma Insight Provider, <a href="https://www.smartkarma.com/profiles/nicolas-van-broekhoven-24a66c2d-bca4-4f5b-adda-c4e2bcc509f4" target="_blank" data-smartkarma-citation="accounts:1208" rel="noopener">Nicolas Van Broekhoven</a>, as he shares his thoughts and insights on three different small cap stock ideas. From Hong Kong to Canada, tune in as Nicolas delves deeper into stock ideas from across the globe.</p><h3>The webinar will be hosted on Wednesday, 14 June 2023, 17:00 SGT/HKT.</h3><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div class="content-highlight"><h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=86009313020" target="_blank" rel="noopener">Register for the Webinar here</a></h2></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div><p><a href="https://www.smartkarma.com/profiles/nicolas-van-broekhoven-24a66c2d-bca4-4f5b-adda-c4e2bcc509f4" target="_blank" data-smartkarma-citation="accounts:1208" rel="noopener">Nicolas Van Broekhoven</a> was on the buyside for 15 years, and most recently at a medium-sized boutique asset management firm. Having grown up in Europe, attending university in the US and living in Singapore for the last 7 years, this has given him a broad scope on the world and investing in general. He considers himself as a generalist investor with a preference for small and mid-cap companies and special situations. However, a large cap that has gone temporarily out of favor might also pique his interest. His style of investing could be categorized as more of value investor, rather than growth at any cost. Learning from Charlie Munger on the importance of quality of a company has been of tremendous value over the years. Nicolas likes businesses with real earnings, cash flows, dividends, book value and insider ownership.</p>

In this next installment of our #webinar Wednesdays, we welcome Smartkarma Insight Provider, Nicolas Van Broekhoven, as he shares his thoughts and insights on three different small cap stock ideas. From Hong Kong to Canada, tune in as Nicolas delves deeper into stock ideas from across the globe.The webinar will be hosted on Wednesday, 14 June 2023, 17:00 SGT/HKT.Register for the Webinar hereNicolas Van Broekhoven was on the buyside for 15 years, and most recently at a medium-sized boutique asset management firm. Having grown up in Europe, attending university in the US and living in Singapore for the last 7 years, this has given him a broad scope on the world and investing in general. He considers himself as a generalist investor with a preference for small and mid-cap companies and special situations. However, a large cap that has gone temporarily out of favor might also pique his interest. His style of investing could be categorized as more of value investor, rather than growth at any cost. Learning from Charlie Munger on the importance of quality of a company has been of tremendous value over the years. Nicolas likes businesses with real earnings, cash flows, dividends, book value and insider ownership.

Smartkarma Webinar | Three Small Cap Stock Ideas

Canada

Entree Resources Ltd. operates as a mining company. The Company develops and discovers gold and copper resources. Entree Resources is currently conducting exploration on its mineral concessions in Mongolia.

Price Gauge
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Entree Resources (ETG CN)

Mongolia Elections Behind Us and Rio Versus Entree Arbitration Ruling Expected by Late 3Q24

Entree Resources in arbitration against Rio Tinto over Oyu Tolgoi ownership, final verdict expected in late 3Q24 after Mongolian elections.

Nicolas Van Broekhoven

Junior Copper Miners: Many Juniors Are Lagging Copper Price YTD

BHP's bid for Anglo American has woken up generalist investors to the looming copper deficit forecast later this decade.

Nicolas Van Broekhoven

2024 High Conviction: Junior Copper Miners

2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...

Nicolas Van Broekhoven

Chinese Interest in Solaris Resources Highlights Value in Junior Copper Equities

Solaris Resources appointed Chinese investment bank CICC to look at all M&A approaches going forward. Media reports suggest multiple bidders are...

Nicolas Van Broekhoven

Smartkarma Webinar | Three Small Cap Stock Ideas

In the next installment of our Webinar Wednesdays, we go live with Smartkarma Insight Provider, Nicolas Van Broekhoven, as he will shares with us...

Smartkarma Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Mongolia Elections Behind Us and Rio Versus Entree Arbitration Ruling Expected by Late 3Q24

​Entree Resources in arbitration against Rio Tinto over Oyu Tolgoi ownership, final verdict expected in late 3Q24 after Mongolian elections.

Nicolas Van Broekhoven

Junior Copper Miners: Many Juniors Are Lagging Copper Price YTD

BHP's bid for Anglo American has woken up generalist investors to the looming copper deficit forecast later this decade.

Nicolas Van Broekhoven

2024 High Conviction: Junior Copper Miners

​2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...

Nicolas Van Broekhoven

Chinese Interest in Solaris Resources Highlights Value in Junior Copper Equities

Solaris Resources appointed Chinese investment bank CICC to look at all M&A approaches going forward. Media reports suggest multiple bidders are...

Nicolas Van Broekhoven

Smartkarma Webinar | Three Small Cap Stock Ideas

In the next installment of our Webinar Wednesdays, we go live with Smartkarma Insight Provider, Nicolas Van Broekhoven, as he will shares with us...

Smartkarma Research

Entree Resources in arbitration against Rio Tinto over Oyu Tolgoi ownership, final verdict expected in late 3Q24 after Mongolian elections.

2023 was a strong year for uranium in 2024 it could be copper's time to shine due to supply issues and the "energy transition." Consider investing...