Daily Brief Thematic (Sector/Industry): De Grey vs Spartan: Bush Math Battle and more

• Pepper resource upgrade announced, significant increase in ounces and grade
• $220 million raised through equity offering, fully funding underground operations
• Comparison made between Northern Star’s investment in De Grey and potential acquisition of Spartan for investment banking analysis

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• US stocks surged on Wednesday, fueled by a tech rally, with all three major indexes reaching new record closes
• Marvell Technology surged 23% on Wednesday after its fiscal Q4 revenue forecast of $1.8 billion exceeded Wall Street’s expectations; strong AI outlook
• The Japanese government plans to streamline visa requirements for Chinese nationals, reducing application paperwork to boost cross-border exchanges

• Tech and semi’s continuing to favor AI over power/analog post Marvell and Microchip numbers.
• Worth paying attention to less known Japanese SPE Shibaura Mechatronics and the long lost Towa.
• US Homebuilders weak on concern over Trump’s plans to deport undocumented workers.

• Tiruppur’s knitwear exports rebounded with 13% growth in FY25 (April-August), signaling recovery after an 11% decline in FY24.
• Factories started operating at 95% capacity utilization vs 60-70% earlier.
• Bangladesh crisis and upcoming UK FTA giving huge business to indian textile exporter.   

• The incoming US administration has repeatedly indicated that it will favor policies that support US oil and natural gas supply growth.
• Policies will likely include regulatory changes to increase access to onshore and offshore federal leases and streamline the permitting process for new wells and offshore facilities.
• We also expect the administration to streamline the permitting process for new interstate transmission pipelines and LNG export facilities.