Member Info for Cacher

https://twitter.com/ajbeaumont7/status/1387701107665915906?s=19

Yes there's a lot going on. I too wish that they were a bit more vocal on their activities, but I'm sure it'll come.
Ruffer Investment Co sat at 17%+ now. Clearly others are beginning to pay attention here

"If I think of a royalty stream operation I think of an 'angel investor' to those in the mining sector where in return for pump priming a project that might not otherwise get into the air a generous royalty stream is delivered."

If this is the sum total of your understanding as far as royalty and streaming companies goes, then rather than criticising the portfolio, I recommend you go back to the very basics of the model.

Yes, I've also recently added to my holding.

BTS, I think the lack of market response today highlights the difference between AIM/UK markets and the North American markets. UK is very cashflow centric, and very much 'show me the money'. North American investors understand the royalty model, and the free upside that's associated with development work on the properties that royalties are held over.
Apollo adding ounces to the resource only serves to grow TRR's future cashflow and extends the life of mine/royalty. All that happens at zero additional cost to Trident.
Hopefully we'll see some additional cashflowing assets added in the not too distant future. The pipeline is looking good, so I'm hoping Adam's attention will be growing that stable of cashflowing assets that'll provide the critical mass and topline growth that the market is waiting for.

Yup, absolutely. Very happy with yesterday's trading update. Eventually the market will cotton on

APF starts approx 1 hour 7 mins into the recording
https://youtu.be/3WWfDutRsDU

Indeed. Quite happy to wait for this one.

Good folks to have feeding you potential projects. Orion often at the centre of financing arrangements for some of the biggest and best projects. Usually pick up a royalty as a consequence, but more often than not they tend to monetise those, rather than reap the benefits over the long term. Hopefully Adam and team will be selective, but if Thacker Pass is anything to go by I think the future is very bright.

I'm amazed at the lack of interest here Spindok. The need for what eSmart and Triconnex in particular should grow very rapidly over coming years. Tamdown business should hopefully be picking up, but really there's very little priced Into the NEXS valuation. Andrew Monk is very bullish on the VSA tech and transitional energy podcast. I agree with him that eSmart alone could see the valuation at multiples of where we are sat right now . Similar businesses in the US and Europe are multiples in terms of valuation already..

Come on Schrödingerscat, cut MS some slack. He's been holding here for as long as I have, contributes with some great content and overviews for when new investors or potential investors come looking. He's also proven himself to be a shrewd stockpicker.
Keep up the valued contributions MS.

A recording of yesterday's webcast for anyone who missed it:
https://webcasting.brrmedia.co.uk/broadcast/606497ae560fbf10fcc505ea/6077fc8bef17a87d0488c093

From the annual report:
'The key features of the facility include: US$150m commitment (day one step down from US$180m upon completion of the equity raise); step down to US$125m after 18 months; operating leverage of up to 3.5x; dividend restrictions if leverage exceeds 2.5x for the Q1 2021 dividend and onwards (not expected to be triggered); security against the Group’s assets; and the option to extend the three-year term by one year subject to lender consent. The facility has a cost of LIBOR plus 2.75-4.5% depending on leverage ratios but we expect the cost to normalise at LIBOR plus 2.75-3.50%. The day one borrowings of US$123.5m implied leverage of just over 3x at closing, with leverage declining to below 2.5x by the end of Q2 21 and reducing thereafter.'

Seems to be a debt covenant issue as a result of the Voiseys Bay transaction.

Care to identify the 'cheerleaders' that you allude to? Some of us here have supported this company from IPO

Trident became a royalty and streamer in May last year. Prior to that it was a shell that didn't require any advertising. The comparisons to 2019 are totally meaningless

....and Julian interviewed by Proactive..
https://youtu.be/WETLPZVW228

https://twitter.com/brr_mediauk/status/1382231623249358851?s=19

I suspect a better remuneration comparison would be some of the smaller royalty companies over in North America. After all, that's where Adam is based and has been for some time. For example, he's earning pretty much the same as Trey Wasser at Ely Gold. Both Adam and Trey earn one third of what Brett Heath earns at Metalla.
Ultimately, Adam has doubled my money (more or less) over 12 months. He's also put in place some decent assets that should assist the company to continue to grow. No doubt there'll be plenty more. From that point of view, if the company replicates another 2x or more over the next 12 months I certainly won't be complaining about Adam's salary.

Great mention of NEXS on today's Tech podcast.
https://soundcloud.com/user-596578261/vsa-capital-tech-transitional-energy-080421

Construction going well. First production anticipated by mid 2021
https://incoa.com/exciting-news/