Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Excellent results. Pleased that they're rapidly freeing up the credit facility after pretty much maxing it out with the Voiseys Bay acquisition. The key for APF going forward is to be selectively acquisitive and continue to grow.
Whilst miners and developoall see their capex and opex projections balloon as inflation really bites, it's clear that the royalty and streaming model enables you to get that commodity exposure whilst largely insulated from cost price inflation. This is the way.
Here's the excellent eSmart Networks Presentation. Quite clear from this that the growth opportunity ahead is immense, and totally under the radar of the market right now.
https://youtu.be/1segu6wuujw
Presentation today on eSmart Networks. 11.30am on the Investor Meet Company website.
Good podcast from Simon at eSmart Networks on the EV charging bill
https://twitter.com/simoncgallagher/status/1508365885047717892?t=fxPMVMsLz2-S2CogXd9-eg&s=19
Absolutely agree the dividend won't be compromised. Quite clear the company are well ahead of their projected debt reduction - though for most royalty and streamers it isn't a problem continually refinancing as cashflow builds and diversifies through further acquisitions. For me the focus in the near term is Piaui going into pilot production sometime in May. APF have the option to increase their GRR on the nickel/cobalt asset for up to $70m. I'm sure Marc is quite keen to ensure Piaui goes a long way to replacing Kestrel as that begins to run off.
Mantos already looking at another expansion - even though this current expansion isn't fully operational yet. That is great news for APF as any increase in production or expansion comes for free. Osisko, who have a stream on the silver production at Mantos are projecting a 60-70% uplift over the next FY
Hi Zebbo,
I'd personally like to see the company continue to divert all funds to securing further deals. I think it's vital that they take this opportunity to focus on growth, add to the immediate cashflow and of course build a pipeline where ounces received are replaced organically over time.
Cashflow will be materially higher when Thacker Pass comes online. I wouldn't be surprised if that's the point where shareholders start to enjoy some initial distribution. Ultimately any dividend needs to be sustainable, with the ability to grow it over time. We're not there yet, but I don't have any problem visualising a time in the not too distant future where TRR is a good growth and income play.
So here's the Tamesis figures:
"We generate a post-tax NPV5 for the offtake of US$6.4million (or 1.6pps) - an effective 1.7x return vs the purchase price, and an IRR of 20% for the Sugar Zone offtake. We estimate that it will generate an average of c. US$0.8-0.9 million in annual pre-tax revenues until mid-2033 with pre-tax receipts totalling c. US$9.4 million of the life of the contract. "
Thanks to PaulNormanSmith below for the link. Would be good to know if that is indeed our Chairman helping us out with links :)
Yes agreed Spindok. I do think our patience will be well rewarded here. I see that eSmart have started their own weekly podcast. Mainly targeted to those within the industry, but it's a good insight nevertheless.
The Investor Meet Company presentation on March 29th should be interesting
Rapid growth over the last quarter and exceptionally strong order book...
https://www.linkedin.com/posts/esmart-networks_qs-commercialmanager-permanant-activity-6894976496268894208-Jk7g
#BRN is pleased to report that the first leach pad modules are now complete and will receive ore this week to stack the first module.
#mining #nickel #cobalt $BRN https://t.co/OmGnUO4PnL
Yes I'm looking forward to the company detailing Piaui's move towards small scale production. I think the market largely overlooks BRN (and the exposure APF has) as it's not a public entity and thus not required to report updates - but significant US government involvement, and Piaui's ability to supply the EV/battery markets will certainly garner interest going forward
https://youtu.be/pVazagJ3gkY
Trident presenting from 25 mins
Here's the presentation from Tuesday:
https://ukinvestormagazine.co.uk/trident-royalties-investor-presentation-february-2022/
It's variable too - depending on the prevailing years production. So in 2021 Sandstorm have received 31% of the gold produced on an adjusted basis at zero cost to Sandstorm. The figures are in the most recent Sandstorm annual report