Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest announcement is out from Xtierra ( (TSE:RI) ).
Royalties Inc. reported that Capstone Gold, a subsidiary of Capstone Copper, has filed a direct Amparo with Mexico’s Federal Collegiate Tribunal, temporarily suspending an appellate court decision that upheld earlier rulings finding Capstone had improperly transferred and attempted to sell a 2% NSR royalty belonging to Minera Portree de Zacatecas without consent or payment. The company characterizes the Amparo as a weak, largely procedural delay tactic and expects the federal court to affirm the prior rulings, which would clear the way for MPZ to seek quantification and collection of seven years of unpaid royalties from 2019 to 2025 on production from the Cozamin mine, a claim whose potential value has been amplified by sharply higher copper and silver prices and could materially re-rate Royalties Inc.’s market valuation and lead to further legal action in Canada over alleged economic losses.
More about Xtierra
Royalties Inc. is a royalty-focused company with interests in mining and music assets. It owns 100% of the Bilbao silver-zinc-lead project, subject to a 1.5% net smelter return (NSR) royalty, and an 88% stake in Minera Portree de Zacatecas (MPZ), which holds a court-confirmed 2% NSR royalty on five mining concessions partly covering Capstone Copper’s Cozamin mine in Mexico. The company also holds a 5% stake in Music Royalties Inc., which generates recurring dividend income from a portfolio of cash-flowing music catalogs.
Average Trading Volume: 162,732
Technical Sentiment Signal: Buy
Current Market Cap: C$17.82M
For an in-depth examination of RI stock, go to TipRanks’ Overview page.