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>Duck projects and operations, specializing in large-scale builds</li><li>Jeff Quartermain leads Perseus Mining, discussing Predictive stake and valuation</li><li>Emphasis on creating value and diversification in mining investments</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>

Duck projects and operations, specializing in large-scale buildsJeff Quartermain leads Perseus Mining, discussing Predictive stake and valuationEmphasis on creating value and diversification in mining investmentsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

The Best Use of Capital in a Gold Bull Market (Jeff Quartermaine)

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>
<a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining (DEG AU)</a>, <a href="https://www.smartkarma.com/entities/perseus-mining-ltd" target="_blank" data-smartkarma-citation="entities:15306:1" rel="noopener">Perseus Mining (PRU AU)</a> and <a href="https://www.smartkarma.com/entities/sandfire-resources-limited" target="_blank" data-smartkarma-citation="entities:1259:1" rel="noopener">Sandfire Resources Limited (SFR AU)</a> will be added to the <a href="https://www.smartkarma.com/entities/vaneck-vectors-australian-re" target="_blank" data-smartkarma-citation="entities:30999:1" rel="noopener">Vaneck Vectors Australian Resources ETF (MVR AU)</a> in December.</li>
<li>Constituent changes, float changes and capping changes result in an estimated one-way turnover of 7.4% and in a round-trip trade of A$63m.</li>
<li>
<a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining</a> will be acquired by <a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources</a> in the first half of 2025. The passive buying could push <a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining</a> higher in the short-term.</li>
</ul>



De Grey Mining (DEG AU), Perseus Mining (PRU AU) and Sandfire Resources Limited (SFR AU) will be added to the Vaneck Vectors Australian Resources ETF (MVR AU) in December.
Constituent changes, float changes and capping changes result in an estimated one-way turnover of 7.4% and in a round-trip trade of A$63m.

De Grey Mining will be acquired by Northern Star Resources in the first half of 2025. The passive buying could push De Grey Mining higher in the short-term.


MVIS Australia Resources Index Rebalance: 3 Adds, Capping & Float Changes

Investment Strategist, Transparently.AI

Mark Jolley

Investment Strategist

AI detection of accounting fraud and manipulation

Transparently.AI

Fraud and manipulation of their numbers see companies lose USD1 trillion+ per year for their stakeholders. Transparently.AI has developed an AI system that determines:

1. The likelihood that a company is committing fraud/serious manipulation of their books;
2. Whether it is serious enough to result in total corporate failure;
3. Estimated $ losses to stakeholders;
4. How that manipulation/fraud evolves through time; and
5. Detailed analytics on the forms of manipulation/fraud (e.g. which parts of the accounts, what tricks of the trade, questions for analysts to ask management, where/how to investigate further, etc.).

This is effectively automating the analysis of forensic accountants, activist short sellers, credit analysts, etc to do work that would typically take weeks per company, and instead run it in seconds and for thousands of companies simultaneously.

Critically, this solution frequently alerts users to the presence of serious manipulation risk up to 2-3 years in advance of the wider market and short sellers becoming aware of problems.

Thematic (Sector/Industry)

<ul>
<li>Rising inflation historically benefits gold, offering superior real returns compared to stocks and bonds. </li>
<li>Accounting quality is crucial when selecting gold miners, emphasizing transparency to mitigate manipulation risk.</li>
<li>Investors can use Transparently Risk Engine to screen for gold miners with solid accounting quality.</li>
</ul>


Rising inflation historically benefits gold, offering superior real returns compared to stocks and bonds. 
Accounting quality is crucial when selecting gold miners, emphasizing transparency to mitigate manipulation risk.
Investors can use Transparently Risk Engine to screen for gold miners with solid accounting quality.


Gold Stocks in Trump’s New International Order

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Since late-February (2/25/25 Compass and 2/27/25 Int'l Compass) we expected an 8-10% pullback to provide a buying opportunity.</li>
<li>But that all changed last week (4/1/25 Compass and 4/3/25 Int'l Compass), when we downgraded our outlook to bearish/cautious, citing several concerning developments.</li>
<li>Despite the 90-day pause, we remain cautious and we continue to favor defensives as long as the S&amp;P 500 and ACWI-US are below their 200-day MAs.</li>
</ul>


Since late-February (2/25/25 Compass and 2/27/25 Int'l Compass) we expected an 8-10% pullback to provide a buying opportunity.
But that all changed last week (4/1/25 Compass and 4/3/25 Int'l Compass), when we downgraded our outlook to bearish/cautious, citing several concerning developments.
Despite the 90-day pause, we remain cautious and we continue to favor defensives as long as the S&amp;P 500 and ACWI-US are below their 200-day MAs.


Still Favor Defensives Until Market Dynamics Improve; EURO STOXX 50 Testing Crucial 5000 Level

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Generation Development Group L / Event-Driven

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.</li>
<li>We expect one change for ASX 50, one change for ASX 100, and two changes for ASX 200. </li>
<li>The official index changes will be announced after the close on Friday 6th June 2025.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.
We expect one change for ASX 50, one change for ASX 100, and two changes for ASX 200. 
The official index changes will be announced after the close on Friday 6th June 2025.


Quiddity Leaderboard ASX Jun25: De Grey Mining Intra-Review Replacement + More Regular Changes

Australia

Perseus Mining Limited is a mining and exploration company. The Company acquires, explores, develops, mines, and produces gold. Perseus Mining conducts its mining operations in Africa and Australia.

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Perseus Mining (PRU AU)

The Best Use of Capital in a Gold Bull Market (Jeff Quartermaine)

Predictive is a company specializing in large-scale EEPC builds, facing challenges with project valuation, government interference, and seeking...

Money of Mine

MVIS Australia Resources Index Rebalance: 3 Adds, Capping & Float Changes

De Grey Mining, Perseus Mining and Sandfire Resources will be added to the MVR ETF in December. Estimated one-way turnover is 7.4% resulting in a...

Brian Freitas

Gold Stocks in Trump’s New International Order

Gold stocks are on the investment radar as the tariff wars fuel inflationary concerns. Find out how accounting quality is a useful screening tool...

Mark Jolley

Still Favor Defensives Until Market Dynamics Improve; EURO STOXX 50 Testing Crucial 5000 Level

Still Favor Defensives Until Market Dynamics Improve; EURO $STOXX 50 Testing Crucial 5000 Level; Watch for Resistance at $105-$117.69 on $ACWI. Buy...

Vermilion Research

Quiddity Leaderboard ASX Jun25: De Grey Mining Intra-Review Replacement + More Regular Changes

The last day of trading for De Grey Mining will be 23rd April. There will be an ASX 200 replacement for De Grey mining. For the Acquirer Northern...

Janaghan Jeyakumar, CFA

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