Iti Nerant

[Iti Nerant @ItinerantMusing]

👍More cleaning up of the Sandstorm mess by $RGLD

[Junior Mining News @JRMiningIntel]

🚨 BREAKING: Americas Gold and Silver Announces Agreement with Affiliate of Royal Gold to Settle Fixed Gold Delivery Obligation $USA.TO

Read more here 👉
https://t.co/8Yjd5GUOKB

[Iti Nerant @ItinerantMusing]

Paul Andre Huet, Chairman and CEO, commented: "Today's announcement marks a significant step in further strengthening our balance sheet..."

"... and continue to dilute our registry." which he conveniently forgot to add.

$USAS

[Iti Nerant @ItinerantMusing]

MeToo Vicuña.
Another one.
$HART.v $MOG.v

[Junior Mining News @JRMiningIntel]

📢 Gold Hart Copper Provides Updates on Drilling at Flagship Tolita Asset in Vicuña District, Geochemical Survey at Nessa Properties in Domeyko Fault System, and New Property Application for Historic Gold Copper Silver Asset & Former Mine - $HART.V

Details here 👉
https://t.co/hnScNaxyKc

[Iti Nerant @ItinerantMusing]

Chapeau!
First the Mercedes desaster, now Hod Maden.
Royal Gold is wasting no time sorting through the dog's breakfast that was Sandstorm Gold.
Now please get rid of the remaining 15% of the Artmin JV.
$RGLD
https://t.co/vd4uTq8obR

[Iti Nerant @ItinerantMusing]

Regis & Vault now need to buy Genesis to make me a very happy Regis holder, indeed.
Forget about McPhillamy, get rid of Deflector, and focus on consolidating Leonora.
Then buy the rest of Tropicana.

$RRL.ax $VAU.ax $GMD.ax

[Iti Nerant @ItinerantMusing]

That was fast...

https://t.co/KpNHdJLe93

[Iti Nerant @ItinerantMusing]

Congratulations, Aurion shareholders!
Rupert next?
$AU.v $RUP $AEM

https://t.co/OkYPSdAK0Q

[Iti Nerant @ItinerantMusing]

Congratulations, Aurion shareholders!
Rupert next?
$AU.v $RUP $AEM

https://t.co/OkYPSdAK0Q

[Iti Nerant @ItinerantMusing]

Altius is buying 9.9% of $TNR.v - with a right of first offer on the Mariana and Los Azules royalties thrown in for good measure. Let's hope this closes.

happy long $ALS

https://t.co/t5w9j2z6r3

[Iti Nerant @ItinerantMusing]

@ArrakisGlobal $MUX - a "good gold mining biz"? Hmm...

[TMX Newsfile @newsfile_corp]

American Eagle Gold Commences Unsolicited Offer for Pacific Booker Minerals

Full Story: https://t.co/cSpYlHHjni

#AmEagleGold #AE.CA #AE.V #AMEGF #JuniorMining #Mining #MiningStocks #Gold #Metals #PreciousMetals #OTC #OTCMarkets #OTCStocks #SmallCaps #TSXV #Investing

[Iti Nerant @ItinerantMusing]

8.5% interest. Anyone game enough to chase that yield from an as-of-yet non-cash flowing junior developer?

$SKE

[Junior Mining News @JRMiningIntel]

Skeena Gold & Silver Announces Pricing of US$750 Million Senior Secured Notes Offering to Refinance Former Project Financing and to Fund Partial Buyback of Existing Gold Stream - $SKE.TO $SKE.US | CEOCA Breaking News
https://t.co/TcRg7x5TF4

[Iti Nerant @ItinerantMusing]

Good news for NevGold if confirmed outside lab conditions. 👇

$NAU.v

[Junior Mining News @JRMiningIntel]

NevGold Announces Up to 99% Gold Recovery From Phase II Metallurgical Testwork on Oxide Antimony-Gold; Identifies More Antimony Mineralization At Surface In Historical Gold Waste Dump - $NAU.V $NAUFF.US | CEOCA Breaking News
https://t.co/UszVxjBp1j

[Iti Nerant @ItinerantMusing]

"It is anticipated that there could be significant increases to the previously disclosed total estimated capital budget" 👇

That's up from the already disclosed $6B capex estimate...

$GOLD $ABX

[Junior Mining News @JRMiningIntel]

Barrick Provides an Update on Reko Diq - $ABX.TO $B.US | CEOCA Breaking News
https://t.co/gF467HO8OW

[TMX Newsfile @newsfile_corp]

AbraSilver Completes Condoryacu Acquisition; Intersects 72 Metres Grading 18.7 g/t Gold, 117 g/t Silver and 2.06% Copper from Surface

Full Story: https://t.co/hAj4MKJwyX

$ABBRF $ABRA.CA #Mining #MiningStocks #Acquisition #Copper #DrillResults #Gold #Metals #PreciousMetals

[Iti Nerant @ItinerantMusing]

What took you so long, Eric?

Long $AE.v

[TMX Newsfile @newsfile_corp]

American Eagle Announces $23 Million Strategic Investment Backed by Eric Sprott

Full Story: https://t.co/UpMaWNGWeS

#AmEagleGold $AE.CA $AE.V $AMEGF #JuniorMining #Mining #MiningStocks #OTC #OTCMarkets #OTCStocks #SmallCaps #TSXV #Investing

[Iti Nerant @ItinerantMusing]

Happy $ASL.TO holder, even happier after this one 👇

[Junior Mining News @JRMiningIntel]

Lithium Royalty Corp. Shareholders Approve Arrangement with Altius Minerals Corporation - $LIRC.TO | CEOCA Breaking News
https://t.co/2u8QrFtYXd

[Iti Nerant @ItinerantMusing]

This is a significant news release. Hole 70 opens up a new dimension to the NAK project.
Watch $AE.v rally today.

[TMX Newsfile @newsfile_corp]

American Eagle Reports Breakthrough Drilling at NAK, Encountering Continuous Mineralization over Previously Untested 1.7 km Trend, Including 901 m of 0.43% CuEq from Surface

Full Story: https://t.co/jgEwGCrXOy

#AmEagleGold $AE.CA $AE.V $AMEGF #JuniorMining #Mining #OTC #TSXV

[Iti Nerant @ItinerantMusing]

So yes, there is very little IRR in this deal for $LUNR.v when looking strictly at reserves.
However, there is an insane amount of exploration optionality. And secondly, there is value in turning $LUNR.v into a cash-flowing enterprise.
Market seems to see this.

[Yellow Lab Life Capital @YellowLabLife]

So this was a little difficult to interpret and the koala did that intentionally yesterday, this deal is difficult to interpret

~9MM ounces silver in reserve at FdN

Forget time value and IRR for a second, spot silver today is $86/oz

So LunR $LUNR.V just paid $670MM in stock for ~$775MM of silver in reserves (before considering recoveries etc)

There is another ~2MM ounces in M&I and 5MM in inferred already on the books just to be fair

It seems like Lundin Gold $LUG.TO got a great deal here

But, Lundin Gold didn't need to do this? Didn't need cash for anything (quite clear since it's a share consideration after all)

So this is sort of a "special dividend" of the silver reserves?

But it also kind of acknowledges if you value LunR on NAV it's trading at a big premium?

So Lundin Gold shareholders get a "silver special dividend" in LunR shares

LunR shareholders get more trading liquidity such that the share price can find equilibrium and have currency to do more deals, and LunR gets a material cash flowing asset into the portfolio

To be honest, both love this AND hate this for both sides of the deal. So probably will age well

Now let's see LunR do a deal outside the Group's companies...

[Iti Nerant @ItinerantMusing]

Pure genius.
$LUNR

[Junior Mining Network @JrMiningNetwork]

LunR Royalties to Acquire a Life-of-Mine Silver Stream on the Fruta Del Norte Mine for $670 Million $LUNR.V https://t.co/SXeBzoLH6a

[Iti Nerant @ItinerantMusing]

Excellent start to the drill program. Already looking forward to the results from hole 66.
$PCU.v

[Junior Mining News @JRMiningIntel]

Pecoy Copper Intersects 1,014 m of 0.37% Cu and 0.13 g/t Au from 17 m, Extending 407 m Below Resource Pit Shell - $PCU.V | CEOCA Breaking News
https://t.co/38W7eUp1KF