{
  "docId": "019de073-0e3e-718f-a619-12ed5a3bf0bd",
  "docSlug": "64ba5cf989a0cf767f243c357144339d",
  "documentTitle": "TD Securities | Investment Banking Pitch Book | 40 slides",
  "authorId": "td-securities",
  "authorName": "TD Securities",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.294673,
  "pageNumber": 9,
  "pageCount": 40,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 12,
  "notes": "The chart highlights a specific inflection point on March 11, 2022, related to a proposal.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de073-0e3e-718f-a619-12ed5a3bf0bd/9",
  "deckHref": "/decks/019de073-0e3e-718f-a619-12ed5a3bf0bd",
  "deckJsonHref": "/decks/019de073-0e3e-718f-a619-12ed5a3bf0bd.json",
  "deckAnchorHref": "/decks/019de073-0e3e-718f-a619-12ed5a3bf0bd#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.215,
        "x": 0.425,
        "y": 0.305
      },
      "kind": "callout",
      "text": "TRQ Relative Performance Pre-Proposal (As of Mar 11, 2022): 147%",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c43ffa62-d731-4138-8e1a-39f2757315fb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.215,
        "x": 0.425,
        "y": 0.245
      },
      "kind": "callout",
      "text": "Peers Relative Performance Pre-Proposal (As of Mar 11, 2022): 242%",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f3e28be6-cb9f-4ff7-be27-02d829f9b383",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.58,
        "w": 0.86,
        "x": 0.07,
        "y": 0.175
      },
      "kind": "chart",
      "text": "Relative share price performance chart",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "67a96045-c50b-4492-a68f-b7284221ef6f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.15,
        "x": 0.825,
        "y": 0.035
      },
      "kind": "disclaimer",
      "text": "DRAFT as of 27-Jun-2022 Strictly Confidential For Discussion Purposes Only",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6a003e3c-e9fb-40be-8a84-02aff9825f13",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.15,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Capital IQ. Note: Market data as of June 23, 2022. (1) Peers include... (2) Peers include...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1c1c4bec-2d6b-4487-855f-c4a61141400e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.36,
        "x": 0.105,
        "y": 0.225
      },
      "kind": "table",
      "text": "Performance Since March 11, 2022 table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cf292a18-414f-4d87-a99c-e8f995d1231e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.704,
        "x": 0.148,
        "y": 0.815
      },
      "kind": "title",
      "text": "TRQ peers suffered significant sell-off since Rio proposal",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ad6d52f4-543e-42dc-87b4-12e17d38b273",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.25,
        "x": 0.148,
        "y": 0.095
      },
      "kind": "title",
      "text": "Relative Share Performance",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0026915f-2c22-4343-b56b-17257589fc88",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Contrast Pairs",
      "slug": "contrast-pairs",
      "agent": "Storyteller",
      "layer": "loop",
      "matchId": "019debe5-4415-728b-9d14-58424310e9d6",
      "evidence": "Loop establishes TRQ vs peers contrast across Market View; first page anchors Loop tool.",
      "confidence": 80
    },
    {
      "name": "Annotation",
      "slug": "annotation",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "019debe5-43f0-720f-8ba4-baa2442d712c",
      "evidence": "Mar 11 2022 inflection labelled with peers 242% vs TRQ 147% callouts.",
      "confidence": 85
    }
  ],
  "frameworks": [
    {
      "name": "Peer gap chart",
      "slug": null,
      "matchId": "019debe5-4bc2-77af-a666-fb089def782d",
      "evidence": "TRQ vs peers vs base metals vs copper relative-performance line chart.",
      "confidence": 80
    }
  ],
  "arcBeats": [
    {
      "to": 11,
      "from": 7,
      "beatId": "019debe5-4034-71e8-a54a-db2132f8fefb",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Problem & Complication",
      "beatSlug": null,
      "evidence": "Market View shows TRQ trades at persistent P/NAV discount to peers.",
      "position": 2,
      "confidence": 82,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 11,
      "from": 6,
      "beatId": "019debe5-40eb-7055-9cb5-f743c4f28c0d",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Facts (What)",
      "beatSlug": null,
      "evidence": "Capitalization plus market view showing TRQ vs peers.",
      "position": 1,
      "confidence": 58,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 11,
      "from": 8,
      "name": "Benchmark Gap",
      "slug": "39-benchmark-gap",
      "bestFor": "Performance improvement, competitive analysis, target setting",
      "matchId": "019debe5-417d-749b-a8a7-fd044f765c1d",
      "evidence": "Action title p10 states 'TRQ prior to Rio Proposal consistently traded at a discount to peers on P/NAV'; callouts compare TRQ vs peers explicitly.",
      "position": 2,
      "objective": "Show TRQ trades at a persistent discount to peers, S&P Base Metals and copper",
      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
      "confidence": 88,
      "description": "Compare performance against best-in-class to quantify the opportunity"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}