Important Disclaimer—This may affect your legal rights: Because this document has been prepared without consideration of any specific client’s financial situation, particular needs and investment objectives, a Bell Potter Securities Limited investment adviser (or the financial services licensee, or the proper authority of such licensee, who has provided you with this report by arrangement with Bell Potter Securities Limited) should be consulted before any investment decision is made. While this document is based on the information from sources which are considered reliable, Bell Potter Securities Limited, its directors, employees and consultants do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate. Nor does Bell Potter Securities Limited accept any responsibility to inform you of any matter that subsequently comes to its notice, which may affect any of the information contained in this document. This document is a private communication to clients and is not intended for public circulation or for the use of any third party, without the prior approval of Bell Potter Securities Limited. In the USA and the UK this research is only for institutional investors. It is not for release, publication or distribution in whole or in part to any persons in the two specified countries. This is general investment advice only and does not constitute advice to any person.
Disclosure of Interest: Bell Potter Securities Limited receives commission from dealing in securities and its authorised representatives, or introducers of business, may directly share in this commission. Bell Potter Securities and its associates may hold shares in the companies recommended.
Pantoro Limited (PNR):
Disclosure: Bell Potter Securities acted as Lead Manager to Pantoro Limited’s (PNR) $43m equity raise of May 2019 and received fees for that service.
Breaker Resources (BRB):
Disclosure: Bell Potter Securities acted as Lead Manager to Breaker Resources (BRB) $6.4m equity raise of May 2019 and received fees for that service.
DeGrey Mining (DEG):
Disclosure: Bell Potter Securities acted as Joint Lead Manager to DeGrey Mining’s (DEG) $31.2m equity placement in April 2020 and received fees for that service.
David Coates holds long positions in shares in EVN, NST, OGC, RRL, SBM, RSG, PNR WGX, and SLR.