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Research Team ACF
  • Research Team ACF

GreenRoc Strategic Materials Plc (GROC.L) Core Investment Snapshot 290...

GreenRoc Strategic Materials Plc (AIM: GROC.L) is unusually well positioned to become a key supplier of high-purity, battery-grade graphite into Western markets increasingly focused on critical material security. GROC’s flagship Greenland Amitsoq Graphite Project, has amongst the highest known in-situ graphite grades globally at 20.41% TGC, potential purity is 99.95% (a purity essential to the EV battery value chain looking for lower cost natural graphite vs. synthetic graphite). GROC.L’s Thule ...

Research Team ACF
  • Research Team ACF

Blencowe Resources Plc (BRES.L) Core Investment Case 28052025

Blencowe Resources Plc (Standard: BRES.L) is positioned to become a globally significant, low-cost producer of battery-grade graphite, for energy storage (55%) and traditional secure cash flows (45%) markets. Its flagship Ugandan Orom-Cross Graphite Project has an exceptional resource profile—long LoM, 6% TGC, free-dig ore, and low AISC scaling. BRES.L’s DFS is at its end stage and pilot scale testing is completed. BRES.L is developing a number of key strategic relationships across offtake and f...

Mineral Resources Limited: Update following outlook change to negative

Our credit view of this issuer reflects its rising iron ore production from Onslow, offset by its weak credit metrics for Ba3 rating over next 12 months.

Moody's Ratings changes Mineral Resources' outlook to negative; affirm...

Moody's Ratings (Moody's) has today affirmed the Ba3 corporate family rating (CFR) of Mineral Resources Limited (MinRes). At the same time, we have affirmed the Ba3 senior unsecured bond ratings and changed the outlook to negative from stable.                     IMPORTANT NOTICE: MOODY'S RATINGS ...

Mineral Resources Ltd: 1 director

A director at Mineral Resources Ltd bought 3,935 shares at 38.976AUD and the significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...

Gold Fields Limited: Acquisition of full ownership in Windfall project...

The acquisition will expand the scale of Golf Fields' operations and cash generation base and reduce its average all-in sustaining costs after the mine is put into operation and ramped up.

Mineral Resources Limited: Update to credit analysis

Our credit view of this issuer reflects its rising iron ore production from Onslow, offset by its weak credit metrics for Ba3 rating over next 12 months.

Moody's Ratings announces completion of a periodic review of ratings o...

Moody's Ratings (Moody's) has completed a periodic review of the ratings of Mineral Resources Limited and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 9 July 2024 in which we reassessed the appropriateness of the ratings in the cont...

Mineral Resources Limited: Sale of 49% of Onslow haul road reduces fun...

Sale will reduce MinRes funding requirements for growth plans, but we expect leverage to remain high in the medium term on the back of higher capital spending and weak lithium prices.

Gold Fields Limited: Update to credit analysis

Our credit view of Gold Fields reflects its geographical and asset diversification, solid credit metrics, robust liquidity and exposure to the volatility in gold prices.

Sid Rajeev
  • Sid Rajeev

New Age Metals Inc. (TSXV: NAM / OTCQB: NMTLF / FSE: P7J) – Initiated ...

Fundamental Research Corp has issued a report entitled “Initiated an Aggressive Drill Program Funded by a Lithium Major - FINAL REPORT” and dated Jan 18, 2024. The full report is now at

Mineral Resources Limited: Covenant Quality Post-Sale Snapshot: $1.1bn...

Mineral Resources Limited’s covenant package provides weak protection reflecting a weak covenant score of 3.70.

Mineral Resources Limited: Covenant Quality Pre-Sale Snapshot: $850m ...

Mineral Resources Limited’s covenant package provides weak protection reflecting a weak covenant score of 3.70.

Mineral Resources Limited: Update after rating action

Our credit view of this issuer reflects its contracted mining service revenue, against its additional growth spending relating to restructure of MARBL JV arrangements.

Moody's assigns Ba3 rating to MinRes's notes; outlook stable

Moody's Investors Service has assigned a Ba3 rating to Mineral Resources Limited's (MinRes) proposed USD850 million senior unsecured notes issuance. At the same time, Moody's has also affirmed MinRes's Ba3 corporate family rating ("CFR") and senior unsecured notes rating. The outlook is maintained a...

Gold Fields Limited: Key facts and statistics - 2022

A summary company profile, detailing Gold Fields Limited’s business operations and financial highlights.

Sid Rajeev
  • Sid Rajeev

New Age Metals Inc. (TSXV: NAM / OTCQB: NMTLF / FSE: P7J) – Advancing ...

Fundamental Research Corp has issued a report entitled “Advancing Exploration Funded by a Lithium Major” and dated September 7, 2023. The full report is now at

Mineral Resources Limited: Credit impact of proposed lithium mine acqu...

Company expects to fund the proposed acquisition from existing resources, with the timing and sale price of the transaction still unknown and subject to a number of procedures

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Japan Remains Leadership; Actionable Pullback in Europe; Downgrading China/Hong Kong There continues to be little traction above $93 on the MSCI ACWI (ACWI-US), which remains the top-end of our anticipated 2023 trading range. At the same time, we cannot get too bearish until there is a break below $90.50 short-term support. If $90.50 breaks, important downside targets are $86, $84, and $75-77 on ACWI-US. Meanwhile, the EURO STOXX 50 is pulling back toward our 4100 buy area (the uptrend from the...

Mineral Resources Limited: Credit opinion update

MinRes' credit profile benefits from its rising lithium production, relatively stable mining services earnings, constrained by exposure to commodity cycle and prices and elevated capex.

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