Queen's Road Capital Provides Update on Portfolio

Core Viewpoint - Queen's Road Capital Investment Ltd. (QRC) has provided an update on its investment portfolio, highlighting significant investments in Moxico Resources plc, Adriatic Metals plc, and IsoEnergy Ltd., along with a strong overall financial position and growth potential [1][6]. Investment Updates - QRC completed an additional US$20 million convertible debenture investment in Moxico Resources plc, bringing its total investment in Moxico to US$70 million, with an 11.0% coupon and a conversion price of GBP0.90 [2]. - Moxico's flagship asset, the Mimbula copper mine in Zambia, is expected to produce at an annual rate of 36,000 tonnes by year-end, with plans to expand to 58,000 tonnes per annum by the end of 2026 [3]. - QRC's investment in Adriatic Metals plc, initially US$20 million in a convertible debenture, is now valued at A$7.04 per share following its acquisition by Dundee Precious Metals Inc., with potential for a higher value if full allocation is granted [4]. - The conversion of a US$6 million debenture in IsoEnergy Ltd. into common shares was completed, with IsoEnergy shares currently trading at C$12.46, significantly above the conversion price of C$3.52 [5]. Financial Position - QRC holds a convertible debenture portfolio valued at US$223 million, earning an average coupon of 9.7%, with 75% of this portfolio currently in the money based on investee share prices [6]. - The company has a US$130 million equity investment portfolio and reports an all-time high net asset value, with annual interest income of US$22 million and a growing dividend, positioning it well for future growth [6]. Company Overview - QRC is a dividend-paying investment company focused on the global resource sector, investing in both privately held and publicly traded companies, with an emphasis on convertible debt securities and resource projects in politically stable regions [7].