Analyst Articles

We have written a 53-page Industry Report on “Royalty and Streaming Companies: A Low-Risk Path to Mining Exposure”. The report highlights the mining royalty and streaming sector as it has become an increasingly attractive investment avenue for those seeking exposure to the mining industry. Royalty and streaming companies generate revenue by providing upfront capital in exchange for a percentage of future mine production or revenue. This business model allows them to benefit from long-term mine production without incurring the high costs and uncertainties associated with direct mine operations. This report explores the industry landscape, recent developments, and an overview of 18 companies shaping this sector. Sailfish Royalty Corp. (TSXV: FISH) is a featured company in the report. Other companies include Franco-Nevada (TSX: FNV), Royal Gold (NASDAQ: RGLD), Sandstorm Gold (TSX: SSL), and Wheaton Precious Metals (TSX: WPM). [more]

The PDAC 2025 Convention, taking place in Toronto from March 2-5, features a keynote program covering four key themes: Commodity Outlook, Mining Industry Outlook, Technology & Innovation, and Discovery of the Year. Industry leaders, including BHP’s CEO Mike Henry and veteran investor Eric Sprott, will discuss the metals demand for 2050, trends in Canadian mining, and the impact of AI and satellite technology on exploration. The Discovery of the Year session will highlight the Onto copper-gold discovery in Indonesia. [more]

We have written a 10-page Update Report on Silver Bullet Mines Corp. (“SBMI” or “the Company”) (TSXV: SBMI | OTC: SBMCF). The Company continues advancing its high-grade silver projects in Arizona and Idaho. Recent updates include strategic financing initiatives, ongoing Super Champ development, and underground progress at the Washington Mine. SBMI is focused on leveraging operational improvements and targeted exploration to generate near-term revenue while resolving safety issues at the Buckeye Mine. The Company expects revenue from Super Champ in early 2025, supported by optimized milling at its Globe, Arizona, facility. It recently announced a $1.5M private placement to fund these efforts, emphasizing SBMI’s commitment to unlocking value across its portfolio. We maintained a Speculative Buy rating on SBMI and a one-year Price Target to $0.20. [more]

Honda and Nissan plan to merge by 2026 to form the world’s third-largest automaker. The merger will create a new holding company, consolidating operations to enhance efficiency, reduce costs, and accelerate innovation in electric vehicles (EVs) and autonomous technology. The combined entity is expected to generate $238.9 billion in annual sales with an enterprise value of $138 billion. Mitsubishi Motors, a Nissan partner, may join the merger, broadening the company’s global reach and technological capabilities. This move comes amidst rising competition from Chinese EV makers and Tesla. Key challenges include integration complexities and overcoming market hurdles in China and the US. [more]

Vermilion Energy announced the acquisition of privately-held Westbrick Energy for $1.075 billion. The deal includes 50,000 barrels of oil equivalent per day (boe/d) of production, 1.1 million acres of land, and four gas plants. Vermilion expects the acquisition to boost its 2025 production to 126,000–133,000 boe/d while strengthening its position as the fifth largest Deep Basin producer. This aligns with the company’s focus on natural gas as a transition fuel and balancing its North American and European portfolios. The company anticipates significant cash flow generation and long-term operational synergies from these assets. [more]

Nordstrom is set to go private in a $6.25 billion deal led by the Nordstrom family and Mexican retail giant Liverpool. Shareholders will receive $24.25 per share, a 42% premium to pre-deal speculation. The move aligns with industry trends, as department stores adapt to online competition and shifting shopping habits. Going private could provide Nordstrom greater flexibility, supported by Liverpool’s expertise in e-commerce and logistics. The deal, expected to close in the first half of 2025, requires shareholder and regulatory approval. Nordstrom will retain its headquarters, management team, and iconic brand identity. [more]

After Newmont acquired Newcrest, Newmont is reshaping its portfolio, selling non-core assets at significantly higher valuations. The 2024 divestiture program has raised $3.9 billion so far, exceeding its $2 billion target. Highlights include $909 per ounce of Reserves it received for Akyem from Zijin and $567 for Musselwhite from Orla, compared to $198 per ounce paid for the Newcrest’s Reserves. By focusing on Tier 1 gold and copper assets, Newmont is positioning itself for sustained growth and enhanced shareholder returns. [more]

Silver Bullet Mines (SBMI), a Canadian silver and copper exploration company, reported significant progress at its Super Champ and Washington properties. At Super Champ, assays revealed high-grade silver and gold potential, including historic workings with samples up to 1,093.2 oz/t silver. The Washington Mine development targets historic high-grade zones with plans to resume mining from the 150-foot level to the surface. These developments align with SBMI’s strategy to process third-party material at its Globe, Arizona mill, generating revenue while advancing its core assets. Recent updates support eResearch’s revised one-year target price of $0.20 and two-year target price of $0.35. [more]