Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>Trigon announced drill results from Kombat at the East 400 area, with a highlight of 4.2% Cu over 13m.</li>
<li>This morning, Trigon Metals Inc. (TM:TSXV) announced confirmation drill results at the Kombat Mine in Namibia.</li>
<li>The drill results reported today have extended the known mineralization and mineable tonnage in the East 400 area (Figure 1).</li>
</ul>


Trigon announced drill results from Kombat at the East 400 area, with a highlight of 4.2% Cu over 13m.
This morning, Trigon Metals Inc. (TM:TSXV) announced confirmation drill results at the Kombat Mine in Namibia.
The drill results reported today have extended the known mineralization and mineable tonnage in the East 400 area (Figure 1).


TM: Strong Results Continue at Kombat; Drilling at Silver Hill

<ul>
<li>Trigon announced initial production results from its first copper concentrate.</li>
<li>The newly commissioned mill produced a concentrate grade of 33.5% copper (well above the 20% expected) at 79.5% recoveries.</li>
<li>Underground Fleet On August 21st, TM announced its $8.9M order to purchase underground mining equipment from Epiroc.</li>
</ul>


Trigon announced initial production results from its first copper concentrate.
The newly commissioned mill produced a concentrate grade of 33.5% copper (well above the 20% expected) at 79.5% recoveries.
Underground Fleet On August 21st, TM announced its $8.9M order to purchase underground mining equipment from Epiroc.


TM: Initial Concentrate Recovery Exceeds Expectations

<ul>
<li>The precious metals markets rebounded well in July following a healthy consolidation period in May and June.</li>
<li>Commodity prices as well as mining equities rose in the month of July, bouncing back from two modest down months in May and June.</li>
<li>Also on July 12th, U.S. inflation came in at 3.0% YoY and 0.2% MoM, compared to consensus of 3.1% YoY and 0.3% MoM.</li>
</ul>


The precious metals markets rebounded well in July following a healthy consolidation period in May and June.
Commodity prices as well as mining equities rose in the month of July, bouncing back from two modest down months in May and June.
Also on July 12th, U.S. inflation came in at 3.0% YoY and 0.2% MoM, compared to consensus of 3.1% YoY and 0.3% MoM.


<ul>
<li>Trigon announced that the Kombat Mine mill will produce its first concentrate in the coming week, with sales planned for end of August.</li>
<li>This morning, Trigon Metals Inc. (TM:TSXV), provided a progress update on mining operations at the Kombat Mine in Namibia.</li>
<li>The Company provided a detailed update on the open pit mining operations as well as all the work being done to achieve their goal of starting the underground mining operations in April 2024.</li>
</ul>


Trigon announced that the Kombat Mine mill will produce its first concentrate in the coming week, with sales planned for end of August.
This morning, Trigon Metals Inc. (TM:TSXV), provided a progress update on mining operations at the Kombat Mine in Namibia.
The Company provided a detailed update on the open pit mining operations as well as all the work being done to achieve their goal of starting the underground mining operations in April 2024.


TM: Positive Kombat Mine Update & Previous Drill Results

<ul>
<li>Following back-to-back positive months and new all-time highs, gold closed down slightly in June, while the gold equities sold off more dramatically.</li>
<li>Silver fell more sharply than gold (down 9%) following the strong outperformance in May (up 14%), and silver equities followed suit.</li>
<li>Copper also dropped significantly in June, down 9% to $4.4/lb while the copper equities outperformed the metal slightly, down 7%.</li>
</ul>


Following back-to-back positive months and new all-time highs, gold closed down slightly in June, while the gold equities sold off more dramatically.
Silver fell more sharply than gold (down 9%) following the strong outperformance in May (up 14%), and silver equities followed suit.
Copper also dropped significantly in June, down 9% to $4.4/lb while the copper equities outperformed the metal slightly, down 7%.


Agnico Eagle Mines Ltd - Mining Monthly: June Edition

Canada

Victoria Gold Corporation is a gold exploration company. The Company is focused on adding shareholder value through project development and exploration, with full year production targeted for 2014.  Victoria's priorities are focused in the Yukon and Nevada.

Novo Resources Corporation evaluates, acquires, explores, and develops natural resource properties. The Company presently has an option to acquire an interest in an exploration property situated in south-central British Columbia.

Asiamet Resources Limited operates as a mining company. The Company mines metals and minerals in Kalimantan and Sumatra, Indonesia.

Mountain Province Diamonds Inc. explores and develops diamond properties. The Company holds a partial interest in the AK and CJ claims located in the Northwest Territories of Canada.

Kincora Copper Limited acquires, explores, and develops mineral properties. The Company is focused on the development of the Bronze Fox copper-gold prospect and acquiring other copper and gold exploration and development projects in Mongolia.

Sherritt International Corporation owns an interest in a nickel/cobalt metals business. The Company also owns assets which provide for the input requirements of the metals refinery and which also produce fertilizer.  Sherritt explores for, develops, and produces oil and natural gas reserves worldwide, as well as holds interests in power and agriculture industries.

Lucara Diamond Corporation is a diamond mining company. The Company owns interests in diamond projects in Botswana and Lesotho, Africa.

Lion One Metals Ltd.acquires and explores mineral properties.  The Company has an option to acquire certain mineral claims located on the Fijian Islands, including the assets collectively known as the Tuvatu Gold project.

Almonty Industries Inc. operates as a mineral exploration company. The Company operates production activities at the Los Santos Project, a tungsten mine located near Salamanca, in western Spain. Almonty Industries serves worldwide.

Sierra Metals Inc. is a Canadian mining company focused on precious and base metals from its Yauricocha mine in Peru and its Bolivar mine in Mexico. The Company is also advancing its Cusi silver project in Mexico from advanced development into commercial production. In addition, Sierra Metals is exploring several precious and base metal targets in Peru and Mexico.

S2 Resources Ltd explores, mines, and develops mineral resources. The Company offers commodities such as gold and base metals. S2 Resources conducts its business worldwide.

Sambo Industrial Co., Ltd. produces aluminum alloy ingots used in automobile parts.  The Company's major customers include major Korean car manufacturers.

Australian Pacific Coal Ltd. is a coal mining company. The Company is focused on coal tenements in Australia and has pending and granted Exploration Permits for Coal located in Queensland's Bowen, Galilee, Surat and Clarence-Moreton basins.

NIC Autotec, Inc. produces and sells Aluminum frames and Aluminum related products such as work cells and machine covers for industrial use. The company also offers a clean room system used for Semi-conductor and Micro-electronics industries.

NIPPON CHUTETSUKAN K.K. manufactures and sells iron pipes.  The Company sells its products to utility companies such as Tokyo Water Department and Tokyo Gas. Nippon Chutetsukan also produces manhole lids and other iron products.

Magnis Energy Technologies Limited operates as a exploration and development company. The Company owns graphite project in South East Tanzania, as well as uranium deposits in Tanzania and Western Australia.

Dongyang S.TEC Co., Ltd. develops and manufactures various steel products.  The Company's main products include thin steel sheets and plates used in auto, construction, shipbuilding, and machinery industry.

Neometals Ltd explores and develops mineral projects. The Company focuses on the exploration and development of lithium, titanium, vanadium, and other base mineral properties.

Indiana Resources Limited operates as a minerals exploration company. The Company focuses on gold exploration. Indiana Resources also owns and operates the Nachingwea Regional Exploration Project in south-east Tanzania, which includes the Ntaka Hill Nickel Sulphide Project.

Ionic Rare Earths Limited operates as a mineral exploration company. The Company extract gold and copper. Ionic Rare Earths serves customers in Australia.

Trigon Metals Inc. provides mining services. The Company develops mineral properties, as well as offers investment solutions. Trigon Metals serves customers in Canada.

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Trigon Metals (TM CN)

TM: Strong Results Continue at Kombat; Drilling at Silver Hill

Trigon announced drill results from Kombat at the East 400 area, with a highlight of 4.2% Cu over 13m. This morning, Trigon Metals Inc. (TM:TSXV)...

Atrium Research

TM: Initial Concentrate Recovery Exceeds Expectations

What you need to know: • Trigon announced initial production results from its first copper concentrate. The newly commissioned mill produced a...

Atrium Research

Mining Monthly: July Edition

Commodity prices as well as mining equities rose in the month of July, bouncing back from two modest down months in May and June.

Atrium Research

TM: Positive Kombat Mine Update & Previous Drill Results

Trigon announced that the Kombat Mine mill will produce its first concentrate in the coming week, with sales planned for end of August.

Atrium Research

Agnico Eagle Mines Ltd - Mining Monthly: June Edition

Following back-to-back positive months and new all-time highs, gold closed down slightly in June, while the gold equities sold off more dramatically.

Atrium Research

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