Our Portfolio’s smallest-cap royalty company is up 90% so far this year. Part of this is undoubtedly due to the precious metals bull market, a tide that’s lifting most boats in the commodities space.
But something else has just happened that’s both new and potentially important: Cryptocurrency players have discovered the royalty/streaming business model, and they like what they see. Specifically, a major “stablecoin” company has taken a substantial stake in a royalty company, potentially paving the way for more such deals— at much higher prices. The details: