In today’s briefing:
- Quiddity Leaderboard MV Jr-Gold Miners Jun25: Flow Expectations
- Gold Road (GOR AU)’s U-Turn On Gruyere’s Underground Mine Estimates
- EBOS Group Placement – Accretive Deal with Synergies
Quiddity Leaderboard MV Jr-Gold Miners Jun25: Flow Expectations
- The MV Jr-Gold Miners index represents the performance of small-cap gold and silver mining companies listed around the world.
- This index is reviewed semiannually in March and September. There will be no index changes for the June 2025 index rebal event but there will be capping flows.
- We expect one-way flows of US$81mm for June 2025 which translates to a turnover of 1.4%.
Gold Road (GOR AU)’s U-Turn On Gruyere’s Underground Mine Estimates
- After rejecting Gold Fields (GFI SJ)‘s Offer last month, calling terms “low ball and opportunistic”, Gold Road (GOR AU) has done a bang-up job how NOT to underpin that position.
- After correcting minor information (on the 4th April) to an Australian Roadshow Investor Presentation, GOR has now retracted details of the underground mining potential at the Gruyere mine.
- But don’t expect any new developments in this transaction until after De Grey Mining (DEG AU)‘s Scheme vote on the 16th April.
EBOS Group Placement – Accretive Deal with Synergies
- Ebos Group Ltd (EBO NZ) aims to raise around US$122m in order to partly fund its acquisition of SVS Veterinary Supplies (SVS).
- This will complement the company’s strategy of investing for growth and the second acquisition done in 2H25.
- In this note, we comment on the deal dynamics and run the deal through our ECM framework.
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