SRL - Behind The Idea: Why Scully Royalty Is An Undiscovered Royalty Company Worth Double With A Huge Margin Of Safety
Last week LeeFarnam published a Top Idea on Scully Royalty (SRL). For a look behind the idea, please see their interview with the PRO+ team.
Seeking Alpha: Can you briefly summarize your bullish thesis for readers who may not have seen it yet?
LeeFarnam: SRL holds a 7% royalty on the Scully iron mine in Labrador, Canada, which produces an extremely high quality 65.9% iron ore concentrate. The mine was started in 1965 and shut down in 2014 as a result of Cliffs Natural Resources' bankruptcy of its Canadian operations but was recently restarted by