External broker reports(aggregated public sources), Canaccord Genuity

Canaccord Genuity

External broker reports(aggregated public sources)

Canaccord Genuity Group Inc. is a leading independent investment bank with operations in North America, UK & Europe and Asia-Pacific. Canaccord Genuity Group Inc. is a leading independent, full-service financial services firm. 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.

Equity Bottom-Up

Argosy Minerals Ltd. is a diamond and precious metals mining and exploration company.  The Company's projects include the Albetros Diamond Project in South Africa where Argosy explores for alluvial diamonds.

<div><div><div><div><ul><li>Argosy has announced that the Government of Salta Province has approved the company's Environmental Impact Assessment (EIA) for the development of a 10ktpa battery grade lithium carbonate expansion at its 77.5%-owned Rincon Lithium Project (Rincon), bringing the total capacity of the project to 12ktpa LCE.</li><li>The approval de-risks Rincon, in our view, and shores up the development timeline.</li><li>The company can now advance the strategic partnering process, with the goal of securing funding via a prepayment (with a long-term offtake) or via an equity investment in the project. </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>

Argosy has announced that the Government of Salta Province has approved the company's Environmental Impact Assessment (EIA) for the development of a 10ktpa battery grade lithium carbonate expansion at its 77.5%-owned Rincon Lithium Project (Rincon), bringing the total capacity of the project to 12ktpa LCE.The approval de-risks Rincon, in our view, and shores up the development timeline.The company can now advance the strategic partnering process, with the goal of securing funding via a prepayment (with a long-term offtake) or via an equity investment in the project. 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.

Argosy Minerals Limited - Rincon Receives EIA Approval for Expansion

Bannerman Resources Ltd. explores for uranium in Australia and Africa.

<div><div><div><div><ul><li>BMN has completed a Scoping Study for higher throughput and operating life cases at its flagship Etango Uranium Project (Etango) in Namibia.</li><li>Two future phase options have been evaluated: 1) a post ramp-up expansion in capacity to 6.7Mlb/y (Etango-XP); or 2) an extension of operating life to 27 years (Etango-XT).</li><li>With ~225Mlb of resources and Etango-8's current capacity of 3.5Mlb/y this is a logical next step, in our view. </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>

BMN has completed a Scoping Study for higher throughput and operating life cases at its flagship Etango Uranium Project (Etango) in Namibia.Two future phase options have been evaluated: 1) a post ramp-up expansion in capacity to 6.7Mlb/y (Etango-XP); or 2) an extension of operating life to 27 years (Etango-XT).With ~225Mlb of resources and Etango-8's current capacity of 3.5Mlb/y this is a logical next step, in our view. 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.

Bannerman Energy Ltd - Etango - Longer Life or Higher Throughput?

Smart Parking Limited manufactures products for commercial parking facilities operators and regulatory authorities. The Company produces monitoring devices, infrared sensors, guidance systems, license plate readers, and meters.

<ul><li>SPZ announced the acquisition of UK-based Local Parking Security (LPS) for $5.8m cash consideration.</li><li>The transaction represents a 4.1x trailing EBITDA multiple, relative to SPZ's pre-transaction multiple of 6x EBITDA.</li><li>The acquisition will be funded by its existing cash balance (1H24 $10m)</li></ul><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>

SPZ announced the acquisition of UK-based Local Parking Security (LPS) for $5.8m cash consideration.The transaction represents a 4.1x trailing EBITDA multiple, relative to SPZ's pre-transaction multiple of 6x EBITDA.The acquisition will be funded by its existing cash balance (1H24 $10m)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.

Smart Parking Limited - Wheeling in Earnings Growth

Acusensus Limited provides traffic management solutions. The Company offers road safety and traffic enforcement solutions to address road safety challenges. Acusensus serves customers worldwide.

<div><div><div><div><ul style="list-style-type: disc;"><li><p>ACE reported its 1H24, recording revenue of $25m (pcp $20m; +25% revg.)<br>with 2Q24 representing +28% revg.</p></li><li><p>Gross profit increased +41% to $12m (47% gross profit margin (pcp 43%) with adj. EBITDA of +$2.5m (+14% pcp; +10% margin).</p></li><li><p>The company is globalising its product offering with the headcount increase leading to a +45% uplift in opex to $10m. </p></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>

ACE reported its 1H24, recording revenue of $25m (pcp $20m; +25% revg.) with 2Q24 representing +28% revg.Gross profit increased +41% to $12m (47% gross profit margin (pcp 43%) with adj. EBITDA of +$2.5m (+14% pcp; +10% margin).The company is globalising its product offering with the headcount increase leading to a +45% uplift in opex to $10m. 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.

Acusensus Ltd - Building the Global Pipeline

<div><div><div><div><ul><li>SPZ's 1H24 result illustrated an acceleration in its top-line growth trend, which coupled with its margin expansion to record levels, resulted in a +10% beat to earnings<br>against market expectations.</li><li>Revenue of $27m increased 20% vs. pcp (+26% excl. Aust); CGe $28m) and gross profit of $21m, increased +23% vs. pcp (CGe $20m), representing a gross profit margin of 77% (+500 bps hoh).</li><li>EBITDA of $7.6m increased +44% vs. pcp and was +10% ahead of CGe ($6.6m), driven by its margin expansion to historic highs of 28% (2H23: 27%; 1H23: 24%; 2H22: 19%). </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>

SPZ's 1H24 result illustrated an acceleration in its top-line growth trend, which coupled with its margin expansion to record levels, resulted in a +10% beat to earnings against market expectations.Revenue of $27m increased 20% vs. pcp (+26% excl. Aust); CGe $28m) and gross profit of $21m, increased +23% vs. pcp (CGe $20m), representing a gross profit margin of 77% (+500 bps hoh).EBITDA of $7.6m increased +44% vs. pcp and was +10% ahead of CGe ($6.6m), driven by its margin expansion to historic highs of 28% (2H23: 27%; 1H23: 24%; 2H22: 19%). 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.

Smart Parking Limited - 1H24 Result; Unit Economics Continue to Strengthen

Canaccord Genuity
External broker reports(aggregated public sources)
• Canaccord Genuity

Argosy Minerals Limited - Rincon Receives EIA Approval for Expansion

The company can now advance the strategic partnering process, with the goal of securing funding via a prepayment (with a long-term offtake) or via...

Canaccord Genuity

Bannerman Energy Ltd - Etango - Longer Life or Higher Throughput?

BMN has completed a Scoping Study for higher throughput and operating life cases at its flagship Etango Uranium Project (Etango) in Namibia.

Canaccord Genuity

Smart Parking Limited - Wheeling in Earnings Growth

The transaction represents a 4.1x trailing EBITDA multiple, relative to SPZ's pre-transaction multiple of 6x EBITDA. The acquisition will be funded...

Canaccord Genuity

Acusensus Ltd - Building the Global Pipeline

ACE reported its 1H24, recording revenue of $25m (pcp $20m; +25% revg.)with 2Q24 representing +28% revg. Gross profit increased +41% to $12m (47%...

Canaccord Genuity

Smart Parking Limited - 1H24 Result; Unit Economics Continue to Strengthen

EBITDA of $7.6m increased +44% vs. pcp and was +10% ahead of CGe ($6.6m), driven by its margin expansion to historic highs of 28% (2H23: 27%; 1H23:...

Canaccord Genuity