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 that its two underground pumps failed at its Kombat Mine, halting operations.</li>
<li>All personnel and mining equipment have been removed from the underground mine.</li>
<li>The Company stated that despite the issues, Horizon still plans to proceed with its commitment to purchase TM’s interest in Kombat.</li>
</ul>


Trigon announced that its two underground pumps failed at its Kombat Mine, halting operations.
All personnel and mining equipment have been removed from the underground mine.
The Company stated that despite the issues, Horizon still plans to proceed with its commitment to purchase TM’s interest in Kombat.


<ul><li>What you need to know: • Trigon provided an update on the previously proposed acquisition of the Kombat Mine by Horizon Corporation.</li><li>• Subject to final negotiation and approvals, the acquisition will consist of $30M plus between $10-20M in additional payments based on specific operational milestones.</li><li> • TM also announced it has signed a binding loan agreement with Horizon for up to $5M to allow for the project to continue to advance.</li></ul>

What you need to know: • Trigon provided an update on the previously proposed acquisition of the Kombat Mine by Horizon Corporation.• Subject to final negotiation and approvals, the acquisition will consist of $30M plus between $10-20M in additional payments based on specific operational milestones. • TM also announced it has signed a binding loan agreement with Horizon for up to $5M to allow for the project to continue to advance.

<ul><li>Q3/25 marked a particularly strong quarter for Atrium, as precious metal prices continued to rise rapidly, driving notable outperformance across our coverage.</li><li>Our covered stocks increased 46% on average in Q3/25 and are up 227% over the past year, outperforming the TSX, which gained 12% during the quarter and 37% YoY, and TSXV, which gained 29% and 67%, respectively.</li><li>This builds on the 27% increase from our coverage universe in Q2/25.</li></ul>

Q3/25 marked a particularly strong quarter for Atrium, as precious metal prices continued to rise rapidly, driving notable outperformance across our coverage.Our covered stocks increased 46% on average in Q3/25 and are up 227% over the past year, outperforming the TSX, which gained 12% during the quarter and 37% YoY, and TSXV, which gained 29% and 67%, respectively.This builds on the 27% increase from our coverage universe in Q2/25.

Exploits Discovery Corp - Q3/25 Recap: All Our Research in One Place!

<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

Canada

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: Operations Halted; Valuation Stands

Trigon announced that its two underground pumps failed at its Kombat Mine, halting operations. All personnel and mining equipment have been removed...

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TM: Kombat Mine Acquisition Update

What you need to know: • Trigon provided an update on the previously proposed acquisition of the Kombat Mine by Horizon Corporation. • Subject to...

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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.

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