Resources

Almonty Industries Inc. | www.almonty.com
Almonty is a turnaround investor-operator specialising in acquiring distressed and underperforming operations and assets in tungsten markets. We initiated coverage in June 2017.
Recent reports

Bluejay Mining plc | bluejaymining.com
Bluejay’s advanced-stage flagship Dundas Titanium Project, located in western Greenland, is based on the world’s highestgrade ilmenite mineral sands deposit. Two other Bluejay projects in Greenland offer considerable further upside. The DiskoNuussuaq Project is geologically analogous to the world’s largest nickel/copper sulphide mine at Norilsk in Siberia while samples from the Kangerluarsuk zinc/lead/silver project show over 50% metal. We initiated coverage in October 2019.
Recent reports

Deutsche Rohstoff AG | www.rohstoff.de
Deutsche Rohstoff AG (DRAG) is a resources company with a portfolio of properties in gold, oil/gas, base metals and so-called high tech metals such as indium, gallium and rare earths. The business model is based on production of reserves in well explored areas in politically stable countries. The company is based in Heidelberg, Germany. We initiated coverage in July 2010.
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Diversified Gas & Oil PLC | www.dgoc.com
Diversified Gas & Oil PLC is an established, independent owner and operator of producing natural gas & oil wells concentrated in the Appalachian Basin in the United States. Natural gas accounted for 90% of 2019 production by volume. Field operations are densely located throughout the adjacent states of Tennessee, Kentucky, Virginia, West Virginia, Ohio, and Pennsylvania. We initiated coverage in June 2020.
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European Lithium Ltd. | europeanlithium.com
European Lithium is a mining exploration and development company focusing on its wholly owned Wolfsberg Lithium Project in Austria. The company targets the commencement of production of lithium carbonate/hydroxide for battery factories in 2020. We initiated coverage in March 2018.
Recent reports

Klondike Gold Corp. | www.klondikegoldcorp.com
Klondike Gold Corp. is a Canadian gold exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The company’s 557km² Klondike District Project encompasses the original 1896 gold rush discoveries at Bonanza and Eldorado Creeks. We initiated coverage in October 2018.
Recent reports

Rock Tech Lithium Inc.rocktechlithium.com
Rock Tech Lithium Inc. is a Canadian-based mineral exploration company focused on the Georgia Lake lithium property in Ontario. Georgia Lake’s NI 43-101 resource estimate shows an indicated resource of 3.19 million tonnes grading 1.10% Li2O and an inferred resource of 6.31 million tonnes grading 1.00% Li2O. Production is scheduled to start in 2021. We initiated coverage in March 2017
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