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>Kenorland announced the commencement of the maiden diamond drill program at the Western Wabigoon Project in northwestern Ontario.</li>
<li>The Western Wabigoon Project is held under an earn-in agreement with a subsidiary of Centerra Gold, whereby Centerra can earn up to a 70% interest in the project by achieving certain development milestones.</li>
<li>The program has a $3.2M budget that has been approved by Centerra and will consist of up to 3,650m of diamond drilling, till surveys, mapping and prospecting.</li>
</ul>


Kenorland announced the commencement of the maiden diamond drill program at the Western Wabigoon Project in northwestern Ontario.
The Western Wabigoon Project is held under an earn-in agreement with a subsidiary of Centerra Gold, whereby Centerra can earn up to a 70% interest in the project by achieving certain development milestones.
The program has a $3.2M budget that has been approved by Centerra and will consist of up to 3,650m of diamond drilling, till surveys, mapping and prospecting.


KLD: Commences 2026 Maiden Drill Program at Western Wabigoon

<ul>
<li>Kenorland is a project generator with a significant project pipeline across North America and track record of grassroots discoveries.</li>
<li>The Company has an excellent balance sheet and generates management fees on some of its projects, covering corporate expenses.</li>
<li>KLD’s main assets are a 4% NSR on the Frotet Project in Quebec and a 49% interest in the South Uchi Project in Ontario’s Red Lake District.</li>
</ul>


Kenorland is a project generator with a significant project pipeline across North America and track record of grassroots discoveries.
The Company has an excellent balance sheet and generates management fees on some of its projects, covering corporate expenses.
KLD’s main assets are a 4% NSR on the Frotet Project in Quebec and a 49% interest in the South Uchi Project in Ontario’s Red Lake District.


KLD: Project Generator Holding a Key NSR on Major Project

<ul><li>What you need to know: • Mining royalties and streams have performed well over the last few years as rising commodity prices led to increased margins and ROIC.</li><li>• Government support for the mining industry is fast-tracking projects in Canada, the U.S., and Australia, unlocking value for royalty firms faster.</li><li>• There has been significant M&A over the last year, providing higher valuation benchmarks for assets.</li></ul>

What you need to know: • Mining royalties and streams have performed well over the last few years as rising commodity prices led to increased margins and ROIC.• Government support for the mining industry is fast-tracking projects in Canada, the U.S., and Australia, unlocking value for royalty firms faster.• There has been significant M&A over the last year, providing higher valuation benchmarks for assets.

ECORA RESOURCES PLC - Mining Royalties: Staying Bullish on Mining Royalties & Streams

<ul>
<li>Precious metals were mixed in May amid easing geopolitical tensions, with gold down 1.7% and silver up 2.6%.</li>
<li>Mining equities finished broadly higher, with the GDX up 1.3%, GDXJ up 2.4%, despite gold’s pullback, while SILJ gained 5.8% and COPX climbed 10.7%, with the TSX up 2.1% and the S&amp;P500 up 5.4%.</li>
<li>M&amp;A momentum further accelerated in May with Equinox Gold’s ~US$5.1B all-share acquisition of Orla Mining to create North America’s second largest gold producer (~1.1Moz of annual projection), building on Agnico Eagle’s and G Mining Ventures’ large deals in April.</li>
</ul>


Precious metals were mixed in May amid easing geopolitical tensions, with gold down 1.7% and silver up 2.6%.
Mining equities finished broadly higher, with the GDX up 1.3%, GDXJ up 2.4%, despite gold’s pullback, while SILJ gained 5.8% and COPX climbed 10.7%, with the TSX up 2.1% and the S&amp;P500 up 5.4%.
M&amp;A momentum further accelerated in May with Equinox Gold’s ~US$5.1B all-share acquisition of Orla Mining to create North America’s second largest gold producer (~1.1Moz of annual projection), building on Agnico Eagle’s and G Mining Ventures’ large deals in April.


Canterra Minerals Corp - Mining Monthly: May Edition

<ul>
<li>Precious metals were slightly down in April amid ongoing geopolitical tensions, with gold down 1.2% and silver down 1.9%.</li>
<li>Mining equities declined alongside metals, with GDX down 3.8%, GDXJ down 3.1%, SILJ down 1.7%, while COPX was up 4.2% alongside copper, while the TSX was up 3.7% and the S&amp;P 500 was up 10.7%.</li>
<li>Q1 earnings confirmed the new price environment as Newmont posted a record $3.1B in FCF, while M&amp;A returned in scale with Agnico Eagle’s ~C$3.8B Finland consolidation and G Mining Ventures’ C$3.0B acquisition of G2 Goldfields.</li>
</ul>


Precious metals were slightly down in April amid ongoing geopolitical tensions, with gold down 1.2% and silver down 1.9%.
Mining equities declined alongside metals, with GDX down 3.8%, GDXJ down 3.1%, SILJ down 1.7%, while COPX was up 4.2% alongside copper, while the TSX was up 3.7% and the S&amp;P 500 was up 10.7%.
Q1 earnings confirmed the new price environment as Newmont posted a record $3.1B in FCF, while M&amp;A returned in scale with Agnico Eagle’s ~C$3.8B Finland consolidation and G Mining Ventures’ C$3.0B acquisition of G2 Goldfields.


Canterra Minerals Corp - Mining Monthly: April Edition

Canada

Kenorland Minerals Ltd. operates as a mineral exploration company. The Company focuses on identification, acquisition, and exploration of mineral properties. Kenorland Minerals serves customers worldwide.

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Kenorland Minerals (KLD CN)

KLD: Commences 2026 Maiden Drill Program at Western Wabigoon

Kenorland announced the commencement of the maiden diamond drill program at the Western Wabigoon Project in northwestern Ontario.

Atrium Research

KLD: Project Generator Holding a Key NSR on Major Project

KLD’s main assets are a 4% NSR on the Frotet Project in Quebec and a 49% interest in the South Uchi Project in Ontario’s Red Lake District.

Atrium Research

ECORA RESOURCES PLC - Mining Royalties: Staying Bullish on Mining Royalties & Streams

What you need to know: • Mining royalties and streams have performed well over the last few years as rising commodity prices led to increased...

Atrium Research

Canterra Minerals Corp - Mining Monthly: May Edition

Mining equities finished broadly higher, with the GDX up 1.3%, GDXJ up 2.4%, despite gold’s pullback, while SILJ gained 5.8% and COPX climbed 10.7%...

Atrium Research

Canterra Minerals Corp - Mining Monthly: April Edition

Mining equities declined alongside metals, with GDX down 3.8%, GDXJ down 3.1%, SILJ down 1.7%, while COPX was up 4.2% alongside copper, while the...

Atrium Research

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