Sprott initiates coverage of Firefinch, page-255

If you look at the constituents of the Sprott Junior Gold Miner ETF none have a market cap near as low as FFX, with most over US$1B. The single asset producers/developers on the list are the highest quality projects in the industry. The probability of the ETF adding FFX anytime soon is near zero.

There are many junior gold companies covered by Sprott's research that are not in the ETF. The primary aim of Sprott's research, like most broker research, is to position themselves for fees associated with capital raisings or debt issues. Coverage of a stock has little relation to how Sprott invests its money.

Rick Rule recently stepped down as the head of Sprott. I watched this interview with him the other day and it's interesting to hear what he has to say about the junior sector of the gold space. He is fairly scathing about the over-valuation and narrative driven nature of many (most) of these companies.