The following segment was excerpted from this fund letter published by Massif Capital.
New Position: Long Cobalt 27 Capital Corp (CBLLF).
Cobalt 27 is a nickel and cobalt royalty and streaming (R&S) company. When a mine is in pre-production, traditional avenues of capital can be quite expensive. R&S companies will provide capital to mines in return for either a royalty or streaming interest in the future production of the mine. A royalty agreement stipulates that the mine agrees to pay a portion of their revenue to the royalty owner. The owner of the royalty