We are adding our first gold only holding to the portfolio, giving us direct exposure to higher gold prices, which we expect to reach $5,000/oz by 2027, while also gaining exposure to a company with a clear path to significant growth.
What attracted us to company is the combination of world class management, high grade gold assets, production already underway, and substantial production growth ahead, all in mining-friendly jurisdictions.
We have also heard very positive feedback about the company through our conversations with people familiar with the business. That combination is difficult to find, especially in a company where we still see meaningful upside.
We also think the timing is attractive.
Earnings could inflect higher over the next two quarters as production ramps up, providing a potential near-term catalyst for the stock.
Table of Contents
Why Now?
1.1 An Attractive Entry Point
1.2 The Gold Bull Case
Company Overview
Investment Thesis
The Path to Sustainable Growth
How We Value the Company
What Could Go Wrong
Our Final Thoughts