Global Materials Undervalued based on future growth

AdvanSix

Market Cap: US$547.0m

AdvanSix Inc., integrated chemistry company, engages in the manufacture and sale of polymer resins in the United States and internationally.

Galiano Gold

Market Cap: CA$752.3m

Operates as a gold mining company.

Metals Exploration

Market Cap: UK£390.4m

Metals Exploration plc identifies, acquires, explores, and develops mining and processing properties in the United Kingdom, the Philippines, and Nicaragua.

Fauji Cement

Market Cap: PK₨143.8b

Engages in the manufacturing and selling of various types of cement in Pakistan.

Midwest

Market Cap: ₹49.3b

Engages in the exploration, exploitation, manufacturing, processing, and selling of dressed granite blocks and slabs in India and internationally.

Black Cat Syndicate

Market Cap: AU$721.6m

Engages in the exploration and evaluation of gold properties in Western Australia.

Tharisa

Market Cap: R7.6b

An investment holding company, engages in the mining, processing, sale, and logistics of platinum group metals (PGMs) and chrome concentrates in South Africa, China, Singapore, Hong Kong, the United Arab Emirates, and internationally.

San Fu Chemical

Market Cap: NT$14.5b

Manufactures and sells various chemical products in Taiwan.

Korea Petrochemical Ind

Market Cap: ₩688.6b

Engages in the production and supply of petrochemicals in Korea and internationally.

Alto Ingredients

Market Cap: US$430.8m

Produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States.

AIC Mines

Market Cap: AU$606.2m

Engages in the exploration, development, and production of mines in Australia.

Maple Leaf Cement Factory

Market Cap: PK₨114.7b

Produces and sells cement in Pakistan, Afghanistan, Maldives, Qatar, Sri Lanka, South Africa, Yemen, and Tanzania.

SIMONA

Market Cap: €357.0m

Engages in the development, manufacture, and marketing of range of semi-finished thermoplastics, pipes, fittings, and profiles worldwide.

GHCL

Market Cap: ₹38.7b

Manufactures and trades inorganic chemicals in India and internationally.

Heliostar Metals

Market Cap: CA$572.2m

Engages in gold and silver exploration and mining activities in the United States and Mexico.

TFF Group

Market Cap: €342.5m

Engages in the wine and spirits ageing in the United States, Europe, France, Asia, and internationally.

Caledonia Mining

Market Cap: US$388.0m

Engages in the exploration, development, and production of gold in Zimbabwe.

CNMC Goldmine Holdings

Market Cap: S$498.5m

An investment holding company, engages in the exploration and mining of gold deposits in Malaysia.

Sidi Kerir Petrochemicals

Market Cap: ج.م18.3b

Manufactures, packages, and sells petrochemical products in Egypt and internationally.

Advanced Nano Products

Market Cap: ₩571.7b

Engages in the manufacturing materials used in thin-film solar cells, display panels, and semiconductor CMP processes in South Korea and internationally.

PI Advanced Materials

Market Cap: ₩567.7b

Engages in the manufacture and sale of polyimide-based materials in South Korea.

ADF Group

Market Cap: CA$511.4m

Engages in the design and engineering of connections including industrial coatings in Canada and the United States.

Arabian Pipes

Market Cap: ر.س1.3b

Engages in the production and marketing of longitudinally welded steel pipes for pipelines and for construction and commercial purposes in the Kingdom of Saudi Arabia.

Kohat Cement

Market Cap: PK₨97.5b

Engages in the production and sale of cement in Pakistan and Afghanistan.

Aurelia Metals

Market Cap: AU$499.6m

Engages in the exploration and production of mineral properties in Australia.

Dongsung FineTec

Market Cap: ₩524.4b

Engages in the manufacture and sale of cryogenic insulation products in South Korea.

AltynGold

Market Cap: UK£253.1m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

KG Dongbu SteelLtd

Market Cap: ₩507.4b

Produces and sells steel products in South Korea.

Phuoc Hoa Rubber

Market Cap: ₫8.5t

Phuoc Hoa Rubber Joint Stock Company plants, processes, and trades in rubber and rubber wood products in Vietnam.

29Metals

Market Cap: AU$455.0m

Operates as a copper-focused base and precious metals mining company in Australia and Chile.

Poongsan Holdings

Market Cap: ₩482.6b

Manufactures and sells copper and nonferrous metal products worldwide.

Aeris Resources

Market Cap: AU$448.9m

Explores, produces, and sells precious metals in Australia.

WONIK MaterialsLtd

Market Cap: ₩474.1b

Manufactures and sells specialty gases in South Korea, China, and internationally.

Serabi Gold

Market Cap: UK£231.0m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

SeAH Holdings

Market Cap: ₩465.6b

Engages in the steel materials business in South Korea and internationally.

Sylvania Platinum

Market Cap: UK£227.8m

Operates as a producer of platinum group metals including platinum, palladium, and rhodium, and chrome in South Africa.