snd.v - have you looked at the metals and energy spinoff yet ... i've been picking up bits, to round off the odd lots, got some .36s this morning, only small amounts so far as it may be a while before they get rolling, we'll have to see where they finance it first
Think you're right on all points there op ... yes fn.to 'was built with mostly low PM prices', there were some smarts, some initiative, and other crucial factors involved as well -
'And it all began with a little luck.
The partners learned of the opportunity from a tiny advertisement placed in a small Nevada newspaper. The vendor wanted to sell his Nevada royalty in order to repay an outstanding bank loan. Lassonde and Schulich believed the asking price was too high, but the financially distressed vendor was adamant; US$2 million or no deal. An agreement was signed and not a moment too soon — another party showed up an hour later, chequebook in hand, hoping to make the same purchase.
The rest, as they say, is mining history. Barrick Gold (then known as American Barrick) bought out the joint venture then operating the small heap-leach mine and began an exploration program, ultimately delineating what has become one of North America’s largest gold deposits. Today, the Goldstrike mine turns out about 2 million oz. gold annually. Franco-Nevada’s royalty share is 4% of the annual gold production, as well as a 5% net profits interest.'
republicofmining.com
Management and the juicy warrant, yup, i owe you for the heads-up on these last summer, they've treated us well ... long run though, the common is going to be the thing, before the next swing up i plan to figure out the right amount to have in each account, for core keepers ... thinking about a little of the new Franco as well, believe it or not, so far only snaffled a few of their wts, but maybe a board lot or two of common for old times' sake |
