Well, whilst I found this episode of MoM excellent, I also swore quite a few times....... Tempo just unloaded the SPR royalty.... for USD $50m....
The Miners on our Radar this Quarterly SeasonTembo have made an incredible amount of money, which I am fine with, except for the bit about the royalty (other posters have done some incredible posts on the deal details if others want to go back to when it first occurred). Suffice to say, MoM explain that in the end the Tembo royalty will sit around 1.44% (after SPR buy back some of it for around $3.1m (which obviously it will do one day, option is open until 2027, as it's peanuts compared to what they would have to pay over the life of the project). There is also a small royalty to Delphi (which I imagine they will sell too).
Nothing can really be done about it.... other than SPR just find so much gold that the royalty won't matter to current shareholders.
In any case, great discussion (25m-41m mark). Appreciate the boys congratulating current shareholders. It was a bloody challenge to hold through it all.
@Joelstar - after I watched it... it made me think of anther stock we hold (not going to cross promote). Not saying it will be able to replicate SPR though! ha. Would be nice.
Tempo still have 9.95%.... but I wonder if the royalty sale also shows that they are more likely to be a seller.... again.... corporate action cannot be far away (even though.... at this point, I am in the camp of SPR going it alone, or... worst case, SPR becomes a target of an ASX listed company, because then I can still hold script in what I hope will be a investment I hold for my children). No pressure SL, that means a 10-20 year mine life would be great
(20min delay)