Daily Brief Australia: African Gold Ltd, Havilah Resources, Venus Metals Corp, AUD and more

• The gold rush continues with another Canadian outfit bidding to take over an Aussie-listed West African gold play. 
• Junior miner African Gold (A1G AU)has entered into a Scheme with Montage Gold (MAU CN). African Gold shareholders will receive 0.0628 new MAU shares for every A1G share.
• That backs out an implied value of A$0.50/share. Independent directors, holding 11.6% of shares out, are supportive. Montage holds 17.3%. Clean deal.

• The speaker discusses their interest in an intriguing South Australian undeveloped copper stock called Havilah (HAV)
• The speaker shares their initial encounter with the company in 2022 and their impression of its potential value and optionality of assets

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• QGold’s hostile takeover offer for Venus Metals at A$0.17/share is expected to increase, with VMS stock trading at A$0.195/share.
• VMC’s assets in Rox Resources are valued at A$46m, with a 1% net smelter royalty potentially undervalued due to outdated assumptions.
• Christopher Wallin’s QGold has acquired a 26% stake in VMC and a 9% stake in Rox Resources, indicating strategic interest.

• Macro crew discussed a benign outlook on carry fairly risk on climate for the first half of the year
• FX vols expected to be fairly contained in 2026 due to factors like US growth and central bank activity
• Themes for positioning in 2026 include bullish European growth, antipodean FX, and bearish Yen outlook

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.