Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/resonac-holdings-corp" target="_blank" data-smartkarma-citation="entities:1496:1" rel="noopener">Resonac Holdings (4004 JP)</a> is worth more than ¥200/share over the medium-term. But expect this <a href="https://www.smartkarma.com/entities/crasus-chemical" target="_blank" data-smartkarma-citation="entities:58630:1" rel="noopener">Crasus Chemical (646A JP)</a> spinoff to create trading and accumulation opportunities in the near future.</li>
<li>
<a href="https://www.smartkarma.com/entities/tokio-marine-holdings-inc" target="_blank" data-smartkarma-citation="entities:7591:1" rel="noopener">Tokio Marine (8766 JP)</a> reportedly identified <a href="https://www.smartkarma.com/entities/suncorp-group-ltd" target="_blank" data-smartkarma-citation="entities:4218:1" rel="noopener">Suncorp (SUN AU)</a>. It's a clean play after selling Suncorp Bank to ANZ. <a href="https://www.smartkarma.com/entities/insurance-australia-group-ltd" target="_blank" data-smartkarma-citation="entities:712:1" rel="noopener">IAG (IAG AU)</a> is now cleaner after settling the Greensill litigation.</li>
<li>
<a href="https://www.smartkarma.com/entities/legend-holdings-corporation-class-h" target="_blank" data-smartkarma-citation="entities:517:1" rel="noopener">Legend Holdings (3396 HK)</a> remains deeply valued. It is now seeking to offload its 90% stake in Banque Internationale à Luxembourg for ~HK$23bn. </li>
</ul>



Resonac Holdings (4004 JP) is worth more than ¥200/share over the medium-term. But expect this Crasus Chemical (646A JP) spinoff to create trading and accumulation opportunities in the near future.

Tokio Marine (8766 JP) reportedly identified Suncorp (SUN AU). It's a clean play after selling Suncorp Bank to ANZ. IAG (IAG AU) is now cleaner after settling the Greensill litigation.

Legend Holdings (3396 HK) remains deeply valued. It is now seeking to offload its 90% stake in Banque Internationale à Luxembourg for ~HK$23bn. 


Last Week In Event SPACE: Resonac, Tokio Marine/Suncorp/IAG, Legend, Chery Automobile

Global Lithium Resources Ltd / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mineral-resources-ltd" target="_blank" data-smartkarma-citation="entities:15103:1" rel="noopener">Mineral Resources (MIN AU)</a>-backed Aussie lithium play <a href="https://www.smartkarma.com/entities/global-lithium-resources-ltd" target="_blank" data-smartkarma-citation="entities:34827:1" rel="noopener">Global Lithium Resources Ltd (GL1 AU)</a>, has entered into a Scheme with UAE-backed Titan Mining.</li>
<li>Titan is offering $1.15/share, in cash, for each GL1 share, or a 73% premium to undisturbed. Titan is also providing GL1 with a loan to develop the Manna Lithium Project.</li>
<li>GL1 directors, holding 12.5%, are supportive. The Scheme meeting is expected to be held in December. The Scheme requires FIRB &amp; ACCC signing off. Expect scrutiny.</li>
</ul>



Mineral Resources (MIN AU)-backed Aussie lithium play Global Lithium Resources Ltd (GL1 AU), has entered into a Scheme with UAE-backed Titan Mining.
Titan is offering $1.15/share, in cash, for each GL1 share, or a 73% premium to undisturbed. Titan is also providing GL1 with a loan to develop the Manna Lithium Project.
GL1 directors, holding 12.5%, are supportive. The Scheme meeting is expected to be held in December. The Scheme requires FIRB &amp; ACCC signing off. Expect scrutiny.


Global Lithium (GL1 AU): Trading Wide To Titan's A$1.15/Share Scheme

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/global-lithium-resources-ltd" target="_blank" data-smartkarma-citation="entities:34827:1" rel="noopener">Global Lithium Resources Ltd (GL1 AU)</a> entered into a scheme implementation deed with Titan at A$1.15 per share, a 72.9% premium to the undisturbed price. </li>
<li>Regulatory approvals (FIRB, ACCC) are low-risk. Barring <a href="https://www.smartkarma.com/entities/mineral-resources-ltd" target="_blank" data-smartkarma-citation="entities:15103:1" rel="noopener">Mineral Resources (MIN AU)</a>, there is little doubt that the remaining substantial shareholders will be supportive.  </li>
<li>While MinRes will crystallise a material loss at the offer price, it is unlikely to interfere, as it recently stated that it does not want further exposure to lithium. </li>
</ul>



Global Lithium Resources Ltd (GL1 AU) entered into a scheme implementation deed with Titan at A$1.15 per share, a 72.9% premium to the undisturbed price. 
Regulatory approvals (FIRB, ACCC) are low-risk. Barring Mineral Resources (MIN AU), there is little doubt that the remaining substantial shareholders will be supportive.  
While MinRes will crystallise a material loss at the offer price, it is unlikely to interfere, as it recently stated that it does not want further exposure to lithium. 


Global Lithium (GL1 AU): Titan’s Binding Scheme, an Uncertain MinRes Vote

Dry Bulk Commodity Market Insights, DBX Commodities Limited

DBX Commodities

Dry Bulk Commodity Market Insights

DBX Commodities Limited

DBX provides the most accurate and comprehensive real-time data and insights for dry bulk commodities based on satellite imagery and intelligence.

Alex CLAUDE, an expert in commodity tech with 15 years experience in the commodity trading industry, teamed up with the Signal Group in 2020 and started DBX. 

Our product is the result of a unique combination of domain and technological expertise. We offer the most comprehensive, accurate and deepest research analytics of the dry bulk commodity market: coal, iron ore, alumina, bauxite, sugar, wheat, soybeans and soymeal.

Cross Asset Strategy

<ul>
<li>Outperformers: Uranium, Coal &amp; Battery Materials. The strongest performers this month were uranium and thermal coal producers, which benefitted from renewed institutional interest and long-term structural tailwinds.</li>
<li>Underperformers: Gold Miners, Energy, and Select Coal. Despite a +5.2% increase in the gold price, key miners such as Barrick Gold (-7.6%) and Agnico Eagle (-0.9%) underperformed</li>
<li>Equities vs Commodities. There was a notable decoupling between equity and commodity performance this month.</li>
</ul>


Outperformers: Uranium, Coal &amp; Battery Materials. The strongest performers this month were uranium and thermal coal producers, which benefitted from renewed institutional interest and long-term structural tailwinds.
Underperformers: Gold Miners, Energy, and Select Coal. Despite a +5.2% increase in the gold price, key miners such as Barrick Gold (-7.6%) and Agnico Eagle (-0.9%) underperformed
Equities vs Commodities. There was a notable decoupling between equity and commodity performance this month.


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>Minres has sold its gas assets to Gina Reinhart's Hancock prospecting, receiving $804 million upfront with potential for an additional $300 million based on drilling results.</li><li>The sale has boosted Minres' share price by 14%, with the CFO estimating around $650 million in after-tax cash coming in.</li><li>Gina Reinhart's press release indicates a close collaboration with Minres CEO Chris Ellison, suggesting a strong partnership and potential for future growth and export opportunities.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Minres has sold its gas assets to Gina Reinhart's Hancock prospecting, receiving $804 million upfront with potential for an additional $300 million based on drilling results.The sale has boosted Minres' share price by 14%, with the CFO estimating around $650 million in after-tax cash coming in.Gina Reinhart's press release indicates a close collaboration with Minres CEO Chris Ellison, suggesting a strong partnership and potential for future growth and export opportunities.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Australia

Mineral Resources Ltd. offers contract crushing services to the mining industry in Australia.  The Company serves gold, iron ore, tantalum, and coal companies.

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Mineral Resources (MIN AU)

Last Week In Event SPACE: Resonac, Tokio Marine/Suncorp/IAG, Legend, Chery Automobile

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Global Lithium (GL1 AU): Titan’s Binding Scheme, an Uncertain MinRes Vote

While MinRes will crystallise a material loss at the offer price, it is unlikely to interfere, as it recently stated that it does not want further...

Arun George

Commodity Equity Monitor: May 2025 Issue

Outperformers: Uranium, Coal & Battery Materials. The strongest performers this month were uranium and thermal coal producers which benefitted from...

DBX Commodities

Will we see respite for lithium miners?

Minres sells gas assets to Hancock Prospecting for $804 million upfront, retaining exploration assets and receiving praise for CEO Chris Ellison's...

Money of Mine

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52-week Range

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Last Week In Event SPACE: Resonac, Tokio Marine/Suncorp/IAG, Legend, Chery Automobile

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Global Lithium (GL1 AU): Trading Wide To Titan's A$1.15/Share Scheme

Trading wide at a gross/annualised spread of 11.7%/42.3%, assuming mid-Jan 2027 completion, presumably on reg approval risks. I'd be getting...

David Blennerhassett

Global Lithium (GL1 AU): Titan’s Binding Scheme, an Uncertain MinRes Vote

While MinRes will crystallise a material loss at the offer price, it is unlikely to interfere, as it recently stated that it does not want further...

Arun George

Commodity Equity Monitor: May 2025 Issue

Outperformers: Uranium, Coal & Battery Materials. The strongest performers this month were uranium and thermal coal producers which benefitted from...

DBX Commodities

Will we see respite for lithium miners?

Minres sells gas assets to Hancock Prospecting for $804 million upfront, retaining exploration assets and receiving praise for CEO Chris Ellison's...

Money of Mine