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>Capitan announced mapping, trenching, and soil sampling results as part of a reconnaissance-scale program on the newly acquired land package.</li>
<li>Early work shows strong silver and gold mineralization on the north side of the granodiorite intrusion, significantly expanding the size potential.</li>
<li>CAPT has upsized its fully funded Phase 1 program by 50% to 15,000m; ~8,000m drilled to date with 38 RC assays pending.</li>
</ul>


Capitan announced mapping, trenching, and soil sampling results as part of a reconnaissance-scale program on the newly acquired land package.
Early work shows strong silver and gold mineralization on the north side of the granodiorite intrusion, significantly expanding the size potential.
CAPT has upsized its fully funded Phase 1 program by 50% to 15,000m; ~8,000m drilled to date with 38 RC assays pending.


CAPT: Early Exploration on Acquired Land Shows Significant Promise

<ul>
<li>Capitan Silver announced its first set of drill results from its ongoing 10,000m phase 1 drill program.</li>
<li>Drilling intersected a new high-grade intercept (2,636 g/t Ag over 1.5m) ~150m east, expanding the Jesus Maria zone.</li>
<li>Drilling continues with 6,700m of 10,000m completed to date, and assays are pending for 30 holes.</li>
</ul>


Capitan Silver announced its first set of drill results from its ongoing 10,000m phase 1 drill program.
Drilling intersected a new high-grade intercept (2,636 g/t Ag over 1.5m) ~150m east, expanding the Jesus Maria zone.
Drilling continues with 6,700m of 10,000m completed to date, and assays are pending for 30 holes.


CAPT: Drill Results Start to Roll In; New High-Grade Zone Discovered

<ul>
<li>Capitan Silver announced it has executed a definitive agreement to acquire the strategic land package at its Cruz de Plata project, part of the LOI that was announced on June 9th.</li>
<li>The US$4M acquisition expands its land package by ~85% and extends the silver-gold trend by 1.2km to 3.7km.</li>
<li>The transaction was supported by $6.6M in warrant proceeds, leaving CAPT fully funded for 2025 and well into 2026.</li>
</ul>


Capitan Silver announced it has executed a definitive agreement to acquire the strategic land package at its Cruz de Plata project, part of the LOI that was announced on June 9th.
The US$4M acquisition expands its land package by ~85% and extends the silver-gold trend by 1.2km to 3.7km.
The transaction was supported by $6.6M in warrant proceeds, leaving CAPT fully funded for 2025 and well into 2026.


CAPT: LOI Turns Definitive & $6.6M from Warrant Exercises

<ul><li>What you need to know: • The metals and mining market settled in July, following a tremendous run over the last six months.</li><li>• In July, gold was down 1%, silver was up 2%, and copper down 13%.</li><li>The equities underperformed the commodities, with the GDX, GDXJ, SIL, and COPX down 0.8%, 5.0%, 1.5%, and 4.2%, respectively.</li></ul>

What you need to know: • The metals and mining market settled in July, following a tremendous run over the last six months.• In July, gold was down 1%, silver was up 2%, and copper down 13%.The equities underperformed the commodities, with the GDX, GDXJ, SIL, and COPX down 0.8%, 5.0%, 1.5%, and 4.2%, respectively.

Forge Resources Corp - Mining Monthly: July Edition

<ul><li>Quarterly Coverage Update Q2/25 was another strong quarter for Atrium, with continued outperformance from the precious metals space, once again led by silver equities.</li><li>Our coverage universe climbed 27% on average during the quarter and is up 80% over the last year, compared to the TSX which rose 7% and 23%, respectively.</li><li>This builds on the 13% gain from our coverage in Q1/25.</li></ul>

Quarterly Coverage Update Q2/25 was another strong quarter for Atrium, with continued outperformance from the precious metals space, once again led by silver equities.Our coverage universe climbed 27% on average during the quarter and is up 80% over the last year, compared to the TSX which rose 7% and 23%, respectively.This builds on the 13% gain from our coverage in Q1/25.

Kobo Resources Inc - Q2/25 Recap: All Our Research in One Place!

Canada

Capitan Silver Corp. is a gold-silver mining exploration company. The Company focuses on exploration, processing, and distribution of gold and silver. Capitan Silver serves customers in Canada and Mexico.

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Capitan Silver (CAPT CN)

CAPT: Early Exploration on Acquired Land Shows Significant Promise

Capitan announced mapping, trenching, and soil sampling results as part of a reconnaissance-scale program on the newly acquired land package.

Atrium Research

CAPT: Drill Results Start to Roll In; New High-Grade Zone Discovered

Capitan Silver announced its first set of drill results from its ongoing 10,000m phase 1 drill program.Drilling intersected a new high-grade...

Atrium Research

CAPT: LOI Turns Definitive & $6.6M from Warrant Exercises

Capitan Silver announced it has executed a definitive agreement to acquire the strategic land package at its Cruz de Plata project, part of the LOI...

Atrium Research

Forge Resources Corp - Mining Monthly: July Edition

What you need to know: • The metals and mining market settled in July, following a tremendous run over the last six months. • In July, gold was...

Atrium Research

Kobo Resources Inc - Q2/25 Recap: All Our Research in One Place!

Quarterly Coverage Update Q2/25 was another strong quarter for Atrium, with continued outperformance from the precious metals space, once again...

Atrium Research

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