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Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Premium silica resource implies strong margins. Leeners emphasized that Homerun’s silica consistently achieves sub-10 ppm iron content after basic washing and attrition, materially below the 120-ppm threshold required for solar glass.</li><li>This enables a step change in realized pricing from commodity levels of ~$50/ton toward specialty markets at close to $500/ton with limited incremental capex.</li><li>Further refinement into high-purity quartz (HPQ) supports pricing ranging from $500 to several thousand dollars per ton, with ultra-high-purity benchmarks reaching up to $10,000/ton.</li></ul>

Premium silica resource implies strong margins. Leeners emphasized that Homerun’s silica consistently achieves sub-10 ppm iron content after basic washing and attrition, materially below the 120-ppm threshold required for solar glass.This enables a step change in realized pricing from commodity levels of ~$50/ton toward specialty markets at close to $500/ton with limited incremental capex.Further refinement into high-purity quartz (HPQ) supports pricing ranging from $500 to several thousand dollars per ton, with ultra-high-purity benchmarks reaching up to $10,000/ton.

Canada

Homerun Resources Inc. provides natural resource mining services. The Company operates in Canada.

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Homerun Resources (HMR CN)

HMRFF: WTR Small-Cap Spotlight Recap

Leeners emphasized that Homerun’s silica consistently achieves sub-10 ppm iron content after basic washing and attrition, materially below the 120...

Water Tower Research

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