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>What you need to know: • Nicola has commenced work on its 10,000t bulk sample at Dominion Creek, with infrastructure in place and extraction expected to begin by mid-August.</li><li>• Dominion adds a third near-term high-grade ore source to the Merritt Mill, following Talisker and pending shipments from Blue Lagoon.</li><li>• With multiple feed contracts and throughput ramping, Nicola is on track for significant revenue and cash flow generation in H2/25.</li></ul>

What you need to know: • Nicola has commenced work on its 10,000t bulk sample at Dominion Creek, with infrastructure in place and extraction expected to begin by mid-August.• Dominion adds a third near-term high-grade ore source to the Merritt Mill, following Talisker and pending shipments from Blue Lagoon.• With multiple feed contracts and throughput ramping, Nicola is on track for significant revenue and cash flow generation in H2/25.

NIM: Imminent Mining of Dominion Creek’s 10,000t Bulk Sample

<ul>
<li>NIM announced it has commenced production of at its Merritt Mill, with 3.1Kt of Talisker’s high-grade ore delivered and processing underway.</li>
<li>Nicola expects to ramp-up production to full capacity (200tpd) in Q3.</li>
<li>We look forward to Nicola receiving ore from its two other sources in the near term (Blue Lagoon Resources and the 10,000t bulk sample from Dominion Creek).</li>
</ul>


NIM announced it has commenced production of at its Merritt Mill, with 3.1Kt of Talisker’s high-grade ore delivered and processing underway.
Nicola expects to ramp-up production to full capacity (200tpd) in Q3.
We look forward to Nicola receiving ore from its two other sources in the near term (Blue Lagoon Resources and the 10,000t bulk sample from Dominion Creek).


NIM: Gold & Silver Production Commences at the Merritt Mill

<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!

<ul>
<li>The mining sector posted another solid month in June with gold breaking its streak of gains but silver and copper performing well.</li>
<li>This was led by increased geopolitical uncertainty, continued government spending, and potential for lower interest rates.</li>
<li>Gold was down 2%, silver was up 4%, and copper was up 5% compared to the GDX up 3%, GDXJ up 4%, SILJ up 12%, and COPX up 10%.</li>
</ul>


The mining sector posted another solid month in June with gold breaking its streak of gains but silver and copper performing well.
This was led by increased geopolitical uncertainty, continued government spending, and potential for lower interest rates.
Gold was down 2%, silver was up 4%, and copper was up 5% compared to the GDX up 3%, GDXJ up 4%, SILJ up 12%, and COPX up 10%.


Copper Fox Metals Inc - Mining Monthly: June Edition

<ul><li>What you need to know: • Nicola has officially commenced its 2025 diamond drilling campaign at the New Craigmont Copper Project near Merritt, BC.</li><li>• The program includes 4,000–5,000m of drilling across multiple porphyry and skarn-style copper targets, including two new, undrilled zones.</li><li>• The campaign builds on 2024 results from the MARB-CAS corridor and follows the discovery of the Draken copper showing in 2023.</li></ul>

What you need to know: • Nicola has officially commenced its 2025 diamond drilling campaign at the New Craigmont Copper Project near Merritt, BC.• The program includes 4,000–5,000m of drilling across multiple porphyry and skarn-style copper targets, including two new, undrilled zones.• The campaign builds on 2024 results from the MARB-CAS corridor and follows the discovery of the Draken copper showing in 2023.

NIM: Launching Drill Campaign at New Craigmont Copper Project

Canada

Nicola Mining Inc. offers mining services. The Company provides identification, acquisition, and exploration of precious metals and minerals. Nicola Mining Inc serves customers in Canada.

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Nicola Mining (NIM CN)

NIM: Imminent Mining of Dominion Creek’s 10,000t Bulk Sample

What you need to know: • Nicola has commenced work on its 10,000t bulk sample at Dominion Creek, with infrastructure in place and extraction...

Atrium Research

NIM: Gold & Silver Production Commences at the Merritt Mill

NIM announced it has commenced production of at its Merritt Mill, with 3.1Kt of Talisker’s high-grade ore delivered and processing underway.

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

Copper Fox Metals Inc - Mining Monthly: June Edition

The mining sector posted another solid month in June with gold breaking its streak of gains but silver and copper performing well.

Atrium Research

NIM: Launching Drill Campaign at New Craigmont Copper Project

What you need to know: • Nicola has officially commenced its 2025 diamond drilling campaign at the New Craigmont Copper Project near Merritt,...

Atrium Research

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