- The company specializes in copper and nickel-focused royalties and is focused on the Americas.
- The 0.42% NSR on Taca Taca is the only significant asset of Nova Royalty, and the project's key financial figures look bad at copper prices of $3.00 and below.
- I think the company’s valuation has grown due to record copper prices, but I don’t expect this to last.
- Overall, shorting the shares of Nova Royalty is a play on lower copper prices. I don’t believe we’re at the beginning of a new commodities supercycle.
For further details see:
The Assets Of Nova Royalty Don't Look Valuable