Rimfire Pacific Mining Limited · ASX:RIM
Rimfire Pacific Mining — Shareholder Meeting (November 2015)
10 slides from Rimfire Pacific Mining's shareholder meeting presentation, Nov 27, 2015
Slide 1: Mining Market Snapshot
For personal use only Mining Market Snapshot Rimfire Pacific Mining AGM Hedley Widdup Lion Selection Group ASX : LSX @HedleyWiddup
Slide 2: Market for Miners
Market for Miners For personal use only 1999-2008 2009-2013 New Cycle April 2011 = 100% All Ordinaries ASX100 Resources ASX Small Resources Source: IRESS Data
Slide 3: A$ Gold
A$ Gold • ASX Gold Index has performed in line with A$ Gold For personal use only • Not necessarily the case for constituent stocks A$ Gold US$ Gold Source: IRESS Data
Slide 4: Rising Stars – New Mid Tier
Rising Stars – New Mid Tier For personal use only • Majors: sellers for more than 3 years – selling to pay down debt • Buyers are Mid Tier • Choicest assets dealt – where do acquirers turn next ? Size of Select Australian Mining Deals • Increasing Deal Size • Increasing Deal Flow 2013 2014 2015 Sour
Slide 5: Case study: ASX Gold companies
Case study: ASX Gold companies For personal use only • Best performers have been largest stocks Large gold stocks The rest • Best overall % performance • Marginal to negative % performance • High correlation to A$ gold • Low correlation to A$ gold -23% -52% -40% -32% -61% -61% -49% -59% -73% -15% 79
Slide 6: Miners: Smaller they are, Harder they fall…
Miners: Smaller they are, Harder they fall… For personal use only % Fall since 2011 2015: priced for Major 40-50% Premium: Yield Mid tier 50-70% Premium: Growth Junior 70-90% Discount: small, illiquid Severe discount: Micro cap 90-99% Unfunded
Slide 7: Commodities
Commodities For personal use only • Highly correlated since 2011 But Cu • Different supply / demand fundamentals • Prices impinging most cost curves Au Source: IRESS Data
Slide 8: Risks
Risks For personal use only • Some things are cheap because funding is close to impossible • Others because their underlying commodity has crashed out of a once-in-a-lifetime cyclical upswing • Are you speculating on a project working, or reliant on a new technology being successful first ?
Slide 9: Lion Clock
Lion Clock 1997, 2008, For personal use only 2012/13 2004-07, 2010-11
Slide 10: Lion Selection Group
LION SELECTION GROUP ASX : LSX For personal use only BUILDING EMERGING MINERS People • Projects • Opportunities SPECIALIST LISTED INVESTMENT COMPANY www.lionselection.com.au
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