BMO Capital Markets | Investment Banking Pitch Book | 22 slides

BMO Capital Markets · 2022-08
arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 1
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Slide inventory

22
every slide · same image gating as the playbook
01
Slide 1
front_matter
Open slide detailBeat · Situation & Context
02
other
Open slide detailBeat · Situation & Context
03
The slide compares a benchmark against the Rio Tinto proposal using various financial metrics.compare_options
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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The chart highlights the initial premium at the time of the offer and the current premium relative to the peer group index.analyze_data
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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Includes three distinct charts: production volume, cost curve, and country risk premium.compare_peers
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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The chart displays a transition from debt-heavy years to dividend-paying years, with a corresponding copper price table at the bottom.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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Includes Copper Transactions Greater than US$1.0 bn since 2010. Medians exclude Rio Tinto - Turquoise Hill and BHP - OZ Minerals.cite_precedent
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The chart uses a log-log scale for both axes. One data point is highlighted with a blue outline and a dashed line indicating its position.cite_precedent
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The chart uses a timeline-based scatter plot overlay on a line chart to correlate market prices with M&A activity.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The table compares initial and revised proposal premiums/discounts against a range of future P/NAV multiples and resulting IRRs.compare_options
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
11
The slide uses a football field chart format to compare valuation ranges across different financial methodologies.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Benchmark Gap
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BMO Capital Markets branding present; slide 11 of Project Asterix.illustrate_case
Open slide detailBeat · Evidence & ProofLoop · Benchmark Gap
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MI 61-101 refers to Multilateral Instrument 61-101, a Canadian regulation regarding protection of minority security holders in special transactions.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Benchmark Gap
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appendix
Open slide detailBeat · Evidence & ProofLoop · Benchmark Gap
15
The slide shows a two-stage buildup: first calculating the Oyu Tolgoi asset value, then adding corporate-level adjustments to arrive at the final NAVPS.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Benchmark Gap
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The chart uses a combination of bar charts and horizontal reference lines to compare analyst targets against a specific acquisition offer.analyze_data
Open slide detailBeat · Impact & Next Steps
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compare_peers
Open slide detailBeat · Impact & Next Steps
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The chart categorizes companies into Producers, Developers, and Producer/Developer.compare_peers
Open slide detailBeat · Impact & Next Steps
19
The chart highlights Turquoise Hill (Model) in light blue and includes a median line.compare_peers
Open slide detailBeat · Impact & Next Steps
20
The chart uses a log scale for the x-axis (EV/Resource).compare_peers
Open slide detailBeat · Impact & Next Steps
21
The chart uses a vertical green line to indicate the median P/NAV multiple of 0.62x.compare_peers
Open slide detailBeat · Impact & Next Steps
22
Includes detailed footnotes explaining financial methodology for WACC and beta calculations.analyze_data
Open slide detailBeat · Impact & Next Steps