Riverwater Partners, an investment management company, released its “Micro Opportunities Strategy” Q3 2025 investor letter. A copy of the letter can be downloaded here. The strategy reported solid absolute returns in the quarter but lagged the benchmark as it did not keep pace with the strong rally. The strategy continues to focus on quality companies in the volatile environment. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025. In its third-quarter 2025 investor ...

Group 1 - The context surrounding Uranium Royalty (UROY) has significantly changed over the past few months, indicating a shift in market dynamics [1] - The analysis emphasizes the importance of macroeconomic context in company-level valuation to identify long-term investment opportunities [1] - The investment philosophy focuses on underfollowed or undervalued companies, as well as established leaders with emerging structural value [1]

Core Insights - The context surrounding Uranium Royalty (UROY) has significantly changed over the past few months, indicating a shift in market dynamics and potential investment opportunities [1]. Company Analysis - The analysis emphasizes a deep-value investment philosophy, focusing on underfollowed or undervalued companies where fundamentals are often overlooked, as well as established leaders with emerging structural value [1]. Market Context - The author provides insights into the macroeconomic context of Argentina, highlighting its complexity and dynamism, which allows for a thorough exploration of local assets and broader Latin American and global trends [1].

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] - A specific company is highlighted as a key player in the AI energy sector, owning critical energy infrastructure assets that are essential for meeting the increasing energy demands of AI technologies [3][7] Investment Landscape - Wall Street is investing hundreds of billions into AI, but there is a looming question regarding the energy supply needed to sustain this growth [2] - AI data centers consume energy equivalent to that of small cities, leading to concerns about power grid strain and rising electricity prices [2] Company Profile - The company in focus is not a chipmaker or cloud platform but is positioned as a crucial player in the energy sector, particularly in nuclear energy infrastructure [7] - It is capable of executing large-scale engineering, procurement, and construction (EPC) projects across various energy sectors, including oil, gas, and renewable fuels [7] Financial Position - The company is noted for being completely debt-free and holding a significant cash reserve, amounting to nearly one-third of its market capitalization [8] - It is trading at less than 7 times earnings, indicating a potentially undervalued position in the market [10] Market Trends - The company is poised to benefit from the onshoring trend driven by tariffs, as well as the surge in U.S. LNG exports under the current administration [5][14] - There is a growing recognition on Wall Street of this company's potential, as it quietly capitalizes on multiple favorable market trends without the high valuations seen in other sectors [8][6] Future Outlook - The demand for AI is expected to continue growing, with a talent influx ensuring ongoing innovation and advancements in the field [12] - The company is positioned to profit from the anticipated energy spike driven by AI data centers, making it a strategic investment opportunity [3][11]

Core Points - Uranium Royalty Corp. held its annual general meeting on October 16, 2025, where all proposed nominees were elected as directors [1] - A total of 65,682,446 common shares were voted, representing 49.15% of all outstanding shares [3] Director Elections - Six nominees were elected as directors with the following votes: - Amir Adnani: 35,606,472 votes - Scott Melbye: 36,419,052 votes - Vina Patel: 46,004,748 votes - Neil Gregson: 46,054,180 votes - Donna Wichers: 36,310,681 votes - Ken Robertson: 46,047,607 votes - The board now consists of Amir Adnani, Scott Melbye, Vina Patel, Neil Gregson, Donna Wichers, and Ken Robertson [2] Auditor Appointment - Shareholders approved the appointment of PricewaterhouseCoopers LLP as the auditor for the upcoming year and authorized the Board to fix the auditor's remuneration [3] Company Overview - Uranium Royalty Corp. is the only uranium-focused royalty and streaming company listed on NASDAQ, providing investors with exposure to uranium commodity prices through various strategic acquisitions [4] - The company aims to meet the growing demand for uranium as fuel for carbon-free nuclear energy, leveraging its deep industry knowledge and expertise [4]

Group 1: AI Investment Opportunity - Artificial intelligence is considered the greatest investment opportunity of our lifetime, with a strong emphasis on the urgency to invest now [1] - Wall Street is investing hundreds of billions into AI, but there is a critical question regarding the energy supply needed to support this technology [2] - AI data centers consume as much energy as small cities, leading to concerns about power grid strain and rising electricity prices [2] Group 2: Company Overview - A specific company is highlighted as a potential investment opportunity, owning critical energy infrastructure assets that are essential for the upcoming AI energy demand [3][6] - This company is not a chipmaker or cloud platform but is positioned to benefit from the increasing need for electricity in the AI sector [3][6] - It has a significant role in U.S. LNG exportation and is capable of executing large-scale engineering projects across various energy sectors [7] Group 3: Financial Position - The company is completely debt-free and has a cash reserve equal to nearly one-third of its market cap, making it financially robust compared to other energy firms [8] - It also holds a substantial equity stake in another AI-related company, providing indirect exposure to multiple growth engines without a premium [9] Group 4: Market Sentiment - The company is gaining attention from Wall Street as it is undervalued, trading at less than 7 times earnings, which is attractive for investors [10] - There is a growing interest among hedge fund managers who are discreetly promoting this stock at exclusive investment summits [9][10] Group 5: Future Outlook - The future of energy is closely tied to AI, with a focus on the need for infrastructure to support this technological revolution [11][12] - The influx of talent into the AI sector is expected to drive rapid advancements and innovative ideas, reinforcing the importance of investing in this field [12] - The company is positioned to capitalize on the AI infrastructure supercycle, the onshoring boom, and the surge in U.S. LNG exports [14]

Core Insights - Mining stocks are leading gainers on the TSX as gold prices reach new highs, indicating a strong investor sentiment towards a commodity supercycle [3][4]. Group 1: Top Gainers - Generation Mining Limited (TSX: GENM) is trading at 0.445, gaining 0.07, which is an increase of 18.67% on a volume of 663,945 [4]. - Uranium Royalty Corp. (TSX: URC) is trading at 6.035, up 0.90, reflecting a gain of 17.41% on a volume of 464,088 [4]. - Future Mineral Resources Inc. (TSX: FMR) is trading at 0.40, up 0.05, marking a gain of 14.29% on a volume of 15,470 [4]. - Endeavour Silver Corp. (TSX: EDR) is trading at $10.545, up 1.22, which is a gain of 13.02% on a volume of 991,426 [4]. Group 2: Industry Context - The current performance of mining stocks is attributed to rising gold prices, which are driving investor interest and confidence in the mining sector [3]. - The overall market sentiment suggests a potential long-term trend towards a commodity supercycle, which could benefit mining companies significantly [3]. Group 3: Additional Resources - Investorideas.com offers a podcast titled "Exploring Mining" that features the latest news and interviews with industry experts, providing further insights into mining stocks [6]. - The platform also provides a free mining stocks directory and stock news alerts, which can be beneficial for investors looking to stay informed [6].

Core Insights - Uranium Royalty Corp. (NASDAQ: UROY) has garnered significant interest from hedge funds, positioning itself as one of the top uranium stocks to consider for investment [1] Group 1: Equity Program Renewal - On August 20, 2025, Uranium Royalty Corp. renewed its at-the-market (ATM) equity program, allowing the sale of up to $54 million in common shares [2] - The proceeds from this program will be utilized to acquire additional royalties, streams, and physical uranium holdings, as well as to meet working capital needs [2][3] - The program is managed by a syndicate of agents including BMO Capital Markets, Canaccord Genuity, and Raymond James, and will take effect upon the filing of a prospectus supplement in Canada and the U.S. [3] Group 2: Company Overview - Uranium Royalty Corp. is recognized as the world's only uranium-focused royalty and streaming company, providing investors with exposure to uranium prices through various financial instruments [4] - The company aims to expand its uranium portfolio while maintaining balance sheet strength to support the global transition to clean energy [3]

Company Leadership Changes - Uranium Royalty Corp. has appointed Andy Marshall as the new Chief Financial Officer, succeeding Josephine Man [1][2] - Josephine Man has been recognized for her seven years of financial leadership and her impact on the company's foundational stage [2] Executive Background - Andy Marshall brings over 20 years of senior financial leadership experience in the natural resources sector, including roles as CFO at multiple publicly listed resource companies [2] - His expertise includes corporate financial management, strategic planning, project development, accounting, corporate reporting, financial and risk management, transactional financing, M&A, and support for growth-stage mining companies [2] Company Overview - Uranium Royalty Corp. is the only publicly traded uranium-focused royalty and streaming company, providing investors with exposure to uranium commodity prices through strategic acquisitions [3] - The company is positioned as a capital provider to an industry requiring significant investments to meet the growing demand for uranium as fuel for carbon-free nuclear energy [3] - Management and the Board possess extensive experience in the uranium and nuclear energy sectors, with specific expertise in mine finance, project identification, evaluation, development, and uranium sales and trading [3]

Core Viewpoint - Uranium Royalty Corp. has entered into an agreement to acquire a new royalty on the Aberdeen Uranium Project in Nunavut, Canada, operated by Forum Energy Metals Corp. [1] Group 1: Acquisition Details - The acquisition involves a 2.0% gross revenue royalty on the Aberdeen Project, with a buy-back option for Forum to repurchase 0.5% of the royalty for CAD$1,000,000 within six months of a successful pre-feasibility study [5][8] - The total cash payment for the royalty acquisition is CAD$1,000,000, scheduled to close by the end of May 2025, funded from cash on hand [8] Group 2: Project Overview - The Aberdeen Project is an exploration stage project covering approximately 95,519 hectares, located in the underexplored Thelon Basin, adjacent to the Kiggavik advanced uranium project [4][8] - The Kiggavik Project, operated by Orano, hosts over 132 million pounds of U₃O₈ in indicated and inferred resources, making it one of the largest undeveloped uranium projects globally [8] Group 3: Exploration Potential - Drilling results from the Aberdeen Project have shown high-grade uranium mineralization, including 1.15% U₃O₈ over 2.4 meters, 0.62% over 17.9 meters, and 0.11% U₃O₈ over 35.3 meters [8]