Member Info for Cacher

Yes Fulmar. Coking coal isn't going anywhere in the short/medium term. Unfortunately it's still tarnished with the same brush as thermal coal, but as you say, if folks are serious about turning to a green economy then coking coal & iron ore have a very big part to play

Yes indeed. The main difference being that during that time Altius have staked and generated a number of earlier stage prospects that all add to the pipeline. During a commodities bull market a lot of those will be advanced by third parties at no cost to Altius. We're seeing that now from EMX. The newsflow in recent weeks regarding EMX vending out projects (many non-precious metal) has really picked up. I like the prospect generation & royalty retention model a lot, and Altius and EMX do that very well.
For APF, it's all about what they can acquire over the short/medium term, as that organic pipeline doesn't exist.

True, though LIORC income makes up a sizable proportion of total returns too. That said, for the next few years the better Kestrel does the more cash APF have to deploy and ultimately replace that coking coal income. As you probably know, Kestrel has always been the dominant asset that was heavily relied upon. That has been slowly changing. Management know that they have to speed up asset acquisitions - and they need to be cashflowing (or at least very near term cashflowing). I've stated many times on here and elsewhere that the management team see future of the company in clean, green, 21st century resources. Currently the market seems to think the company will fall short in their endeavours to fully replace the Kestrel income. The board, however, seem reasonably confident. Altius is a good example of a company using their coal income as a means to switch to a green/renewable energy focus. The market has seen the progress they're making and the share price performance reflects that, and marks a stark contrast to what we see here. The next couple of deals will be crucial in restoring that belief, and showing the market that they can execute on the plan.

I know that APF have been keen to promote the company as much as they can over in the US/Canada. Yesterday saw the highest daily volume since February for APF's Canadian listing. Could be that the board are starting to get the story across. Ultimately there's a lot to like about APF, and even more so at this price. That won't go unnoticed by resource funds and switched on resource/mining investors

Yes I can see this back at 150p+ fairly soon. Strengthening coking coal prices, along with strong iron ore prices and the likelihood of some deals in the near term will support the price. Income seekers will also be attracted to a significant, well covered yield too.
The potential rabbit out of the hat moment could be developments at Brazilian Nickel's Piaui project. Any firm news regarding US governmental support to take that forward will be massive for APF.

APF +18% on TSX. $2.49, which by my rough maths is around £1.48 equivalent

That was quick.
Here it is...Trident from approx 34mins

https://youtu.be/0u5jmAmcq_s

Great presentation from Adam. Will drop the YouTube link here when it's available. Hope you're well MS

A good write up from @themoneysponge..
https://spongeshare.com/2020/09/09/anglo-pacific-ticks-my-boxes-5-reasons-why/

Yes they've got a 1% NSR on Salamanca

https://www.marketscreener.com/quote/stock/BHP-GROUP-6492795/news/BHP-Sees-Opportunities-in-Coking-Coal-Challenges-for-Iron-Ore-Prices-Commodity-Comment-31136626/

APF selling a bit of BKY. Can't really blame them given the run the BKY share price has had

Yes I agree. Likewise I'm a fan of the royalty companies - especially the base metal players. They don't get the recognition that their precious metal peers enjoy, but I think that'll change as the focus switches to global electrification, and all the necessary resources that are required to make that happen. The likes of Altius has fantastic pipeline visibility. Not only do they generate their own royalties, but those that they're acquired have such long mine lives - an example being their potash royalties where some of the mine lives are in excess of 1000 years!
You're right, APF needs to show it can replace Kestrel in a perceived 'green'manner - rather than just talking about being an ESG leader for 21st Century resources. I quite like Julian, I think he's a very astute and switched on CEO and I'm willing to give him time to prove that he can make good on what has preached.
TRR is another royalty co that's quickly establishing themselves in the generalised category. I hold there too. Again, I think the management team have a good strategy and they're delivering thus far. They're also more than happy to chat too, which is great from my point of view.

Excellent news. The consensus forecast for the rest of the year is for stronger coking coal prices, so that should definitely help

The price of coking coal is weighing on the share price, combined with some market doubts that APF can successfully replace the Kestrel revenue stream over the next few years.
Would love to see a significant deal get over the line in the near term, in order to allay some of these concerns.

Yeah I've got a bit of dry powder waiting. Think we could see some automatic sells triggered if we dip under £1. Will definitely add to my holding again if so

https://www.mining-journal.com/resourcestocks-company-profiles/resourcestocks/1394299/trident-aims-to-fill-valuable-niche

Good to see the directors opening their wallets at this price.
Would like to see some concerted PR, driving home the green/EV/21st century resources strategy.

Scrodingerscat, you have to remember that we didn't pay Calidus for the royalty. Talga sold on the projects a few years ago and retained a royalty on it. They did the same with the other gold projects that TRR have just picked up. For Talga developing their nickel/cobalt assets, those royalties just sitting there were probably best converted into cash. For specialist royalty co like TRR, it provides a very nice pipeline of gold projects.

https://thewest.com.au/business/public-companies/calidus-gets-environment-all-clear-for-warrawoona-gold-mine-c-1262201