My take25 Jul 2024 11:31
My take on ECORA, which is by far my biggest holding, as I like the royalty model. Kestrel has another 2 years to go and they sould use this income to pay down debt from acquisitions. Without Kestrel, current income should be arround £27 million per annun (roughly) and this will ramp up alot when other large scale projects (X3) come on line. Voisey Bay should also ramp up. In summary, the company thankfully has conservative management, is in the correct sectors and pays the highest royalty dividend of royalty companies in Canad, USA etc. I am bullish on this company and expect the shareprice to be significantly higher in the medium term. I have been averaging down in this period and intend to stay the course.