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.

Equity Bottom-Up

<ul><li>Rumors of a potential merger between Glencore and Rio Tinto, which would be the largest mining M&amp;A deal ever</li><li>Talks were reported to have occurred in the second half of last year but are not currently active</li><li>Both companies have London listings and did not comment on the rumors, indicating a potential window of no talking due to UK takeover rules</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>

Rumors of a potential merger between Glencore and Rio Tinto, which would be the largest mining M&amp;A deal everTalks were reported to have occurred in the second half of last year but are not currently activeBoth companies have London listings and did not comment on the rumors, indicating a potential window of no talking due to UK takeover rulesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

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.

<ul>
<li>August was a mixed month for all metals, including the mining equities.</li>
<li>Gold continues to outperform other metals, up 2.3% on the month and up a staggering 29% over the last year.</li>
<li>Mining equities performed in line with broader markets, following significant outperformance in July.</li>
</ul>


August was a mixed month for all metals, including the mining equities.
Gold continues to outperform other metals, up 2.3% on the month and up a staggering 29% over the last year.
Mining equities performed in line with broader markets, following significant outperformance in July.


Trigon Metals Inc - Mining Monthly: August Edition

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>Following the regulatory approval from the Government of Canada, Glencore's cash acquisition of 77% stake in Teck's Elk Valley Resources (EVR) is expected to close on 11 July 2024.</li>
<li>The cash acquisition is forecasted not to cause any passive fund flows based on the deal structure.</li>
<li>The potential demerger introduces the risk for Glencore approaching the exit threshold of STOXX Europe 50. This is yet undetermined due to the long time horizon.</li>
</ul>


Following the regulatory approval from the Government of Canada, Glencore's cash acquisition of 77% stake in Teck's Elk Valley Resources (EVR) is expected to close on 11 July 2024.
The cash acquisition is forecasted not to cause any passive fund flows based on the deal structure.
The potential demerger introduces the risk for Glencore approaching the exit threshold of STOXX Europe 50. This is yet undetermined due to the long time horizon.


Glencore (GLEN): Green Light from Canada for $6.9bn Acquisition of EVR. Demerger on the Table.

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>On 20 May, I wrote that Japanese activist MURAKAMI Yoshiaki and relations/affiliates had gone from 5% to 20% of <a href="https://www.smartkarma.com/entities/mitsui-matsushima-co-ltd" target="_blank" data-smartkarma-citation="entities:13569:1" rel="noopener">Mitsui Matsushima (1518 JP)</a> in 5 trading days.</li>
<li>I wondered if it was real, or a pump &amp; dump, but they went to near 30% in following days. THEN they drifted off as Murakami-Fille sold while Murakami-Père bought. </li>
<li>The reasoning was not clear, but the story had real potential. Still does. Today, shareholders got more good news. </li>
</ul>


On 20 May, I wrote that Japanese activist MURAKAMI Yoshiaki and relations/affiliates had gone from 5% to 20% of Mitsui Matsushima (1518 JP) in 5 trading days.
I wondered if it was real, or a pump &amp; dump, but they went to near 30% in following days. THEN they drifted off as Murakami-Fille sold while Murakami-Père bought. 
The reasoning was not clear, but the story had real potential. Still does. Today, shareholders got more good news. 


JAPAN ACTIVISM: Murakami Target Mitsui Matsushima Cleans Up

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.

Equity Capital Markets

<ul>
<li>On 4 June, <a href="https://www.smartkarma.com/entities/mmg-ltd" target="_blank" data-smartkarma-citation="entities:13961:1" rel="noopener">MMG (1208 HK)</a> announced plans to raise HK$9.1bn (US$1.2bn) through 2 rights shares for every five existing shares rights offering, with a rights price of HK$2.62.</li>
<li>Since the rights issue announcement, MMG shares have declined by 16.2% to the undisturbed price and by 8.0% compared to the TERP of HK$3.48 per share. </li>
<li>MMG’s trading pattern has diverged from Link REIT/Yuexiu’s rights trading due to the statement on 18 May that the Peruvian mine is not liable for a 30% withholding tax.</li>
</ul>


On 4 June, MMG (1208 HK) announced plans to raise HK$9.1bn (US$1.2bn) through 2 rights shares for every five existing shares rights offering, with a rights price of HK$2.62.
Since the rights issue announcement, MMG shares have declined by 16.2% to the undisturbed price and by 8.0% compared to the TERP of HK$3.48 per share. 
MMG’s trading pattern has diverged from Link REIT/Yuexiu’s rights trading due to the statement on 18 May that the Peruvian mine is not liable for a 30% withholding tax.


Switzerland

Glencore is one of the world's largest globally diversified natural resource companies. It produces, sources, markets, and recycles a wide range of raw materials including metals, minerals, and energy products essential for everyday life and the transition to a low-carbon economy. The company was founded in 1974 and is headquartered in Baar, Switzerland.

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Glencore (GLEN LN)

We’re Back. And so are Mega Deals

: Rumors of a potential merger between mining giants Glencore and Rio Tinto have sparked interest in the industry, with potential implications for...

Money of Mine

Trigon Metals Inc - Mining Monthly: August Edition

The precious metals prices and the mining equities were mostly in line with broader markets with the TSX up 1.0% and the S&P500 up 2.3%.

Atrium Research

Glencore (GLEN): Green Light from Canada for $6.9bn Acquisition of EVR. Demerger on the Table.

Glencore's $6.9bn cash acquisition of 77% stake in Teck's Elk Valley Resources is expected to be followed by a demerger which increases the risk...

Dimitris Ioannidis

JAPAN ACTIVISM: Murakami Target Mitsui Matsushima Cleans Up

Mitsui Matsushima today announced that it had agreed to sell its rights to the residual Liddell Mine asset with provision. That is a boost to BVPS...

Travis Lundy

MMG (1208 HK): Rights Trade Playbook

The rights start trading on 24 June. We expect MMG shares to claw back some losses over the rights trading period, particularly towards the end.

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

We’re Back. And so are Mega Deals

: Rumors of a potential merger between mining giants Glencore and Rio Tinto have sparked interest in the industry, with potential implications for...

Money of Mine

Trigon Metals Inc - Mining Monthly: August Edition

The precious metals prices and the mining equities were mostly in line with broader markets with the TSX up 1.0% and the S&P500 up 2.3%.

Atrium Research

Glencore (GLEN): Green Light from Canada for $6.9bn Acquisition of EVR. Demerger on the Table.

​Glencore's $6.9bn cash acquisition of 77% stake in Teck's Elk Valley Resources is expected to be followed by a demerger which increases the risk...

Dimitris Ioannidis

JAPAN ACTIVISM: Murakami Target Mitsui Matsushima Cleans Up

Mitsui Matsushima today announced that it had agreed to sell its rights to the residual Liddell Mine asset with provision. That is a boost to BVPS...

Travis Lundy

MMG (1208 HK): Rights Trade Playbook

The rights start trading on 24 June. We expect MMG shares to claw back some losses over the rights trading period, particularly towards the end.

Arun George

Glencore's $6.9bn cash acquisition of 77% stake in Teck's Elk Valley Resources is expected to be followed by a demerger which increases the risk...