ETG and SSL shareholder here, so always interested in what Nolan might be thinking, SSL has 25% or so of ETG's share float plus a valuable royalty over ETG's share of the Oyu Tolgoi joint venture ground or portion.
ETG shareholders see SSL as a key player in any move to take-out ETG, most likely engineered by Rio Tinto and the Mongolian government.
SSL has quite a chunk of probable cash or liquid shares in ... TRQ? Rio Tinto? Other? Likely coming down the pipe here.
The reason this interview is particularly interesting is the candid disappointment in the trading price to peer comparison (other good streamers trading at 2x to 3x NAV:Market Cap for SSL) . Nolan points to two suspect causes - size, too small for major institutional interest and buying support, and the unconventional assets in Hod Maden and Entree. Sounds like there may be a dance partner and a marriage proposal subject to those two assets being converted - Hod Maden to a royalty and a likely sale of the ETG interest.
Especially interesting for ETG the desire to do something this year. Otherwise apart from copper and gold prices rising and forcing buy-side anxiety, ETG could just sit for a few years, pretty deeply discounted and in an ambiguous situation vis-a-vis the Mongolian government and tax treatment among other things.
I see potential catalysts to significant upward revaluation for both companies quite apart from the thesis of rising PM and copper prices, which will bump up interest and price almost guaranteed if that comes to pass.
https://youtu.be/Ro4pOafAoi4
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