Ace River Capital

Nicholas D'Agnillo, Founder Ace River Capital | Small Cap | Concentrated | Long-Term | Asymmetric Risk/Reward| [email protected] - not investment advice.

[Vox Royalty @vox_royalty]

📢 @vox_royalty announces a 400% increase in Bonikro's life-of-mine production, supporting +120,000oz annual production. This highlights the embedded growth optionality that underpinned $VOXR acquisition🔗News: https://t.co/cQj0TIMhAi
#royalties #gold #mining #preciousmetals

[Ace River Capital @AceRiverCapital]

Vox Royalty initiated with Buy rating at Roth, citing 'differentiated model' https://t.co/TeXuclfa2D

[Ace River Capital @AceRiverCapital]

@ToffCap $400m Market Cap now :)

[Ace River Capital @AceRiverCapital]

@JesseLonis Agreed

[Ace River Capital @AceRiverCapital]

Ace River Capital – Investor Update (Year-End 2025), by @AceRiverCapital https://t.co/Wm1tXlA9pY

[Ace River Capital @AceRiverCapital]

@ThomasD48342358 Em, DMX, Nas

[Jussi Askola, CFA @askjussi]

My thoughts on the $RICK blowup: https://t.co/Efhyu9cx5q

[Ace River Capital @AceRiverCapital]

https://t.co/wvk9QADIdU

[Ace River Capital @AceRiverCapital]

@RicksCEO I see now, it's in a plaza part of larger property. Got it

[Ace River Capital @AceRiverCapital]

@RicksCEO Could not secure the building? Good lease terms?

[Vox Royalty @vox_royalty]

📢 @Vox_Royalty set to join the Russell 3000®, Russell 2000® & Russell Microcap® Indexes

💡“Joining these Russell indexes marks a significant achievement for Vox. This accomplishment underscores the strength of our diversified royalty portfolio and the accretive growth in value the business has realized since going public in May of 2020.”

➡️ Vox is set to join the indexes at the conclusion of the 2025 annual reconstitution, effective after the U.S. market closes on June 27, 2025

➡️ Expected increased exposure and enhanced visibility among institutional investors and broadening the Company’s shareholder base.

Full details HERE: https://t.co/vOSiGWVQzE

$VOXR.US $VOXR.TO #mining #gold #royalties #FTSE #Russell3000 #Russell2000

[Ace River Capital @AceRiverCapital]

@RealKidPoker Got some gl

[Ace River Capital @AceRiverCapital]

Ace River Capital Q1 2025 Quarterly Letter, by @AceRiverCapital https://t.co/bBqgaZz90N

[Ace River Capital @AceRiverCapital]

@gurgavin RICK

[Ace River Capital @AceRiverCapital]

@Reardon_Dean1 @RicksCEO Big news, huge upside. Glad to see it, been harping on this for awhile now. Love to see it gaining traction.

[Ace River Capital @AceRiverCapital]

https://t.co/FRmamLMcCf

[Ace River Capital @AceRiverCapital]

@Szymon_fi100 Medicine Man

[Ace River Capital @AceRiverCapital]

100% agree, espn had it right early and we have moved away from the players to trying to showcase the game. There is nothing to tell or share without the individual stories of the characters. It's like live streaming rock paper scissors, it gets repetitive and boring fast. Less hand analysis and more people sharing perspectives and individual stories with poker being the intersection not the whole set.

[Dustin Iannotti @dustini]

I'm about to alienate the entire poker industry with what I'm going to say.

But someone needs to point out that we've been telling the wrong story for 20 years.

The evidence is undeniable. The solution is uncomfortable.

The poker content industry is creatively bankrupt and

I'm done pretending otherwise.

While other games turn niche audiences into a global phenomenon, we're recycling formulas for the same shrinking pool of viewers.

Wrestling is scripted. Chess is silent. Golf is slow.

All three are Netflix sensations worth hundreds of millions.

Poker—where people literally risk their life savings while engaging in psychological warfare—can barely crack 250K YouTube views.

This shouldn't be possible. But it is.

The Queen's Gambit made more people care about chess in 8 weeks than poker content has made people care about poker in 8 years.

Chess set sales: +1000%
New online players: +5 MILLION
Chess school applications: DOUBLED

From a FICTIONAL story about a game where two people sit in complete silence staring down at a board and occasionally move tiny wooden objects.

Have we already forgotten?

Twenty years ago, poker exploded because of a story. Not a hand.

A nobody accountant with a perfect last name…

Facing off against a guy whose picture belongs in the dictionary next to "poker player"...

An unlit cigarette hanging from his mouth...

The coolest, coldest motherfucker ripped straight out of a Scorsese movie.

And the underdog prevails.

THAT'S storytelling. THAT'S what captivated millions.

Then we lost our way.

Poker suffered a decade-long drought after Black Friday. TV coverage dried up. Online sites vanished overnight. The industry was on life support.
What brought it back? Not strategy videos. Not hand breakdowns.

It was personalities. Stories. Characters. Influencers who understood that poker without people is just math.

We've been here before. We know what works. Yet we're drifting back into the same trap.

While poker content creators play musical chairs, recycling the same 250,000 existing YouTube viewers, Formula 1 converted 20 million non-fans into rabid followers.

99% of gambling content is created for the 1% who already play.

While sites battle over the same shrinking player pool, they're ignoring the 300M potential fans hungry for real human drama.

What do Formula 1, chess, and professional wrestling have that poker doesn't?

It's not bigger audiences. It's not more drama.

It's one specific storytelling approach that poker content creators actively avoid:

They focus on PEOPLE first, activity second.

They build CHARACTERS, not just champions.

They create EMOTION, not just education.

Meanwhile, poker sites pour millions into new features and UI improvements, while investing next to nothing in original, impactful content.

They'd rather spend $3M optimizing their lobby than $1M on a story that could bring in a million new players.

Short-term metrics over long-term vision.
Quick conversions over cultural relevance.
Features over feelings.

Everyone criticizes @RealKidPoker and @phil_hellmuth - But they are in the arena, trying different things to actively participate in growing the game.

Name someone who’s done more to bring new fans to poker…I’ll wait.

Meanwhile, we've convinced ourselves that a stream's 37th close-up of some math wizard calling a 3-bet with J7 suited is "revolutionary content."

Even the shows considered "industry standard" – Hustler Casino Live and High Stakes Poker – make the same fundamental error:

Selecting hands based on POT SIZE rather than NARRATIVE VALUE.
High stakes should be part of the storytelling – not the ONLY story.

We need to be the change we want to see in poker storytelling.

I'm putting these principles into practice through my work on @Mister_Keating's channel.

Not to self-promote. But to prove it can be done.

We're crafting narrative arcs across multiple hands.
We're revealing the psychological warfare.
We're turning poker sessions into cinematic experiences.

The future belongs to storytellers who understand that gambling at high stakes is dramatic CONTEXT, not compelling CONTENT by itself.

I'm tired of hearing "When is Rounders 2 coming out?"

We don't need Rounders 2.

We need creators and businesses with a stake in this beautiful game to come together and make content that breaks beyond anything Rounders ever did.

We need to aim higher than recycling nostalgia. We need to create NEW classics.

Here's what happens if we succeed:

Poker becomes cultural currency again.
New players flood into the game.
Sites and casinos thrive with fresh blood.
A generation of storytellers finds their canvas.

And if we fail?

We continue the slow, uncomfortable decline. We keep talking to the same shrinking audience. We become chess before The Queen's Gambit – a niche game for a dedicated few.

And for the executives reading this thread right now, calculating ROI:

While your competitors chase micro-conversions, imagine owning the next cultural sensation.

Imagine poker's Drive to Survive moment – 20M new fans, 53% viewership increases.

The long-term math isn't complicated. The courage to be first is rare.

We've spent 20 years showing cards.
It's time to show character.

We've spent two decades explaining how to play.
Now let's show why people NEED to watch.

The storytelling must finally match the stakes.

Poker content needs an entirely new narrative.

I plan to write it.

This is a call to the entire industry to join me.

Challenge yourself.
Challenge the status quo.

We need to move at the speed of attention.
Or the attention will disappear.