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Tamesis near term price target for TRR increased to 60p

Probably a sensible move. Take some now, and another tranche once the debt repayment is behind us.

Hi MonkeyPrice,

Worth watching this presentation if you haven't already done so. It's a very good overview, and questions towards the end specifically address the La Mancha loan.
https://youtu.be/7yB3pj2D8X0

Congrats on Triple Flag MS. One that I haven't pulled the trigger on yet but I'm certainty fond of. I think I probably would already be a holder if I wasn't overweight gold royalties already. Sandstorm being my biggest hold in that particular sphere, closely followed by Wheaton. I've a few other smaller gold royalty plays which I expect to move faster than their larger peers, so I'll probably look to recycle cash into the likes of TFPM, as I like the bigger players on a long term horizon.
One I'm particularly keen on is EMX. Some of the base metals royalties that are about to start paying are seriously big globally significant assets. I've long been a fan of Dave Cole and Eric Jensen. Two of the smartest brains in the sector for sure.
As for TRR, exciting times with the bidding war for Apollo. Lake Rebecca getting cash thrown at it for discovery and development to production just adds to the value here.
Looking forward to seeing what Adam and team deliver next.

Yes great news MS. Both companies have the balance sheet to ensure Lake Rebecca develops into a serious asset

Another bidder appears today for Apollo:
https://www.e-mj.com/breaking-news/gold-road-makes-offer-for-apollo-consolidated/

Yes, I like it a lot and have held in the past. I'm a particular fan of the royalty model.
Hesitant to get back in here solely based on the loan repayment terms - with the recent La Mancha loan having a 6 month term to be repaid in February.
Very much on watch with a view to a long term position here.

https://www.proactiveinvestors.co.uk/companies/news/963573/trident-royalties-happy-with-proposed-change-of-ownership-of-lake-rebecca-project-963573.html

Excellent news. Ramelius is 10x the size of Apollo, so will undoubtedly be able to throw plenty of cash at exploration and development. I expect the timeline to production to be a lot faster and smoother if this does proceed as outlined.

ARK could easily have sold their ownership of Stonepark many times, and for multiples of the current ARK valuation. Stonepark is likely a tier 1 asset, akin to Glencores Pallas Green operation just down the road. Pretty obvious where Glencore will go when they look to expand the resource at PG.

Yeah I agree regarding foresight. The shift to a more ESG centric world has been ongoing for some time. That said, now that APF can point to this disposal it'll open up more doors with the bigger investment houses who have a mandate not to touch thermal coal. I think they've probably surprised themselves with a relatively successful disposal. Potential buyers would be few and far between vs when they acquired the royalty, so it isn't any wonder that it's the operator who has bought this back.
I have confidence in the Voiseys Bay deal. Wheaton (another of my holdings) was also involved in that deal, and has reported excellent progress from Vale at that operation. Wheatons due diligence is second to none, so APF did well to piggy back on that deal. One must be mindful though that Voiseys Bay makes up less than 2% of Wheatons portfolio - vs a much higher number for Anglo Pac, so that particular risk comparison is slightly skewed.
Must admit I'm disappointed by Julian stepping down. I think he's done a good job. He's a good capital allocator on the whole, and with the likes of Piaui and VB he leaves the company with a much more attractive portfolio going forward.

https://www.brrmedia.co.uk/broadcasts/6166c8e54e29f55a941937bb/anglo-pacific-update-on-the-narrabri-thermal-coal-royalty/
Excellent deal imv. Thermal coal exposure has been a drag on the portfolio for some time. This'll open up the opportunity for more ESG centric funds to look more closely at APF.

@mullins58, here's a snippet from the APF interim report - dated 27/08/20:
"We have seen strong and growing momentum in our development assets which could see considerable value accrue to the Group for assets which are ascribed little balance sheet value, noticeably the recent permit grant for Berkeley Energia, the cornerstone position Fortescue have taken in the Canariaco project, the earn-in agreement we consented to for Dugbe 1 and the efforts being made to bring Amapá back on line as reported by Cadence Minerals."

The Amapa royalty? Julian referred to it fairoy recently in a general update.
Here's the info on the gross revenue royalty that APF have over the life of the mine...
https://www.anglopacificgroup.com/royalties/amapa-tucano/

You may or may not be aware that APF has a royalty over Amapa.

Here's last nights presentation:
https://youtu.be/nFlWwKx7zD0

It's a better gold royalty portfolio than some of the junior precious metals specific royalty companies! The jewel is clearly Lake Rebecca, with the NSR over the entire project.
Would like to see some nickel exposure added, along with more iron ore and copper. They tend to be significant life of mine operations, which provide that earnings visibility that's key for Trident going forward.

Copper is performing very well. Don't forget, the minimum payments at Mimbula provide an improved level of income going forward - though Adam has stated he thinks Moxico will surpass the minimum payment plan in the not too distant future. Yes, iron ore has been weak. I think we can realistically expect a $100-120/t range going forward. Other royalty co's are modelling $75-100/t, but I'm a little more optimistic.
To be honest I don't really have an opinion on Adam's pay. Since IPO he's given me a good return on my investment. Having spoken with him/exchanged emails on many occasions I'm aware of how hard he works. He puts himself Infront of the interview cameras as much as he possibly can - much more than most other ceo's that I'm involved with. I think they're building a decent portfolio, and I also think that as Thacker Pass progresses it will be the deal that propels Trident into the big league. It's the sort of deal on an asset that you'd expect to see one of the big boys boast about.
At this stage it's important Trident strives for critical mass with smart accretive deals. So far I've been very happy with the performance.

It's difficult to know when you're relying on a translation algorithm. I guess we'll just have to wait and see whether there's more news on this front. It's not a big asset, but if MNRG take their interest up to 50% then that'll be decent cashflow. It's a relatively simple ISR deposit that doesn't need much capex to get it running. Not many London listed co's can claim they could have a uranium asset in production during this cycle. Perfectly plausible that MNRG could - or certainly have a significant interest in one either way..

One to translate into English...
https://rus.azattyq.org/a/31459438.html