investedthis years dividend and about 1/2 my trading gains in
T.ALS and T.AMI today.
Both cheap royalty plays now.
As for ALS...even if you discount all coal related royalties to ZERO you still have about 19-20million in annual revenue.
Some investments as well, and the average ROI on ALS investemnts was >50% in the past years, so Brian and his Team are outstanding value creators, even in a very difficult market.
Essentially, i can`t see any reason why such a high quality royalty portfolio trades at such a substancial discount to the PM Royalty Co`s.
Brian in my view has the Potential to become the Pierre Lassonde of Diversified Mining Royalties.
If you compare for example to osisko Gold Royalties, i wonder why, with much shorter mine lifes OR has almost double the EV, with only 25% more Revenue...makes no sense to me.
For instance, with mine lifes of 500yrs the potash roylites alone might be worth current marketcap in a better market.
btw: would love to see T.ALS take out T.AMI - Aurico Metals...
chrs
teatimenow