External broker reports(aggregated public sources), Ord Minnett

Ord Minnett

Ord Minnett is a leading Australian wealth management group, incorporating full-service stockbroking, financial planning and funds management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><div><div><div><ul><li>AIS reported a weaker production result (vs OMLe) as assets were impacted by lower throughput / grade, which flowed to costs (A$/Ib basis).</li><li>The cash impact was mitigated by lower capital spend and a one-off ~$29m working capital injection.</li><li>Intrinsic LT value (0.7x P/NAV) in the stock remains high, however, deliverability in 2H23 is critical for investor confidence to see this discount unwind. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

AIS reported a weaker production result (vs OMLe) as assets were impacted by lower throughput / grade, which flowed to costs (A$/Ib basis).The cash impact was mitigated by lower capital spend and a one-off ~$29m working capital injection.Intrinsic LT value (0.7x P/NAV) in the stock remains high, however, deliverability in 2H23 is critical for investor confidence to see this discount unwind. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aeris Resources Limited - 2Q Slightly Softer