Since our formation in 2022, we have progressed from a 'buy-and-build' strategy to focusing on building the high-quality assets we now own. Fewer than 15 gold companies worldwide produce more than one million ounces annually — and with our current asset base and growth projects, Aris Mining has a clear path to join that group." About Aris Mining Founded in September 2022, Aris Mining was established with a vision to build a leading South America- focused gold mining company. Our strategy blends current prod ...

Financial Data and Key Metrics Changes - The company reported a strong cash position of $689.9 million with no funded debt, indicating financial stability and capacity for acquisitions [63] - The company anticipates a mid-term growth rate of 15%-20% for Firdapse as it continues to optimize patient adherence and retention strategies [58][59] Business Line Data and Key Metrics Changes - Firdapse has been on the market since 2019 and is focused on Lambert-Eaton myasthenic syndrome (LEMS), with a significant opportunity for growth in both idiopathic and cancer-associated segments [2][6] - Agamree, targeting Duchenne muscular dystrophy, is expected to penetrate the market further, with a total addressable market estimated at $1.4 billion [17][51] - Fycompa, while experiencing revenue decline due to generic competition, has overperformed expectations despite losing patent protection [3][5] Market Data and Key Metrics Changes - The company has achieved 95% penetration in the top 100 Centers of Excellence (COEs) for DMD, indicating strong market adoption [13] - The cancer-associated LEMS market remains largely untapped, with 90% of patients currently undiagnosed, presenting a significant growth opportunity [28] Company Strategy and Development Direction - The company is focused on a buy-and-build strategy, seeking to acquire de-risked products that are either on the market or near market [4] - The management emphasizes the importance of education and changing care pathways to increase diagnosis rates for LEMS, particularly in oncology settings [24][30] - The company is considering moving further back into the pipeline for future development opportunities as it seeks to accelerate growth [65] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming the decline of Fycompa through strong patient adherence programs and optimizing existing products [55] - The company is optimistic about the potential of Agamree, especially if it can demonstrate superiority over standard steroids in various health outcomes [17][19] - The management acknowledged the challenging market environment but remains focused on executing its growth strategy [65] Other Important Information - The company has settled three out of four patent challenges, providing a clearer path for market stability through February 2035 [52][53] - The management highlighted the importance of leveraging its strong infrastructure to support rare disease treatments and patient retention [62] Q&A Session Summary Question: What is the peak market opportunity for Agamree? - The company estimates a $1.4 billion opportunity for Agamree, with potential for a 25% market share if it can demonstrate superiority over competitors [17][51] Question: How is the education and diagnosis process for cancer-associated LEMS progressing? - The company is actively educating oncologists and has seen a significant increase in VGCC antibody tests, indicating progress in diagnosis [34][28] Question: What is the strategy for Firdapse moving forward? - The company plans to continue optimizing patient adherence and retention, aiming for a mid-term growth rate of 15%-20% [58][59] Question: What is the company's approach to business development? - The ideal business development opportunity focuses on rare diseases with peak sales potential around $500 million, allowing for strategic acquisitions [60][62] Question: How does the company view its financial health and acquisition capacity? - The company is comfortable with its cash position and can consider acquisitions exceeding $1 billion, maintaining a strong balance sheet [63]

Core Viewpoint - Aris Mining Corporation has entered into a binding term sheet to acquire the remaining 49% interest in the Soto Norte joint venture in Colombia for a total consideration of US$80 million, which includes US$60 million in cash and newly issued shares [1][2]. Transaction Details - The acquisition will terminate the associated precious metals stream previously granted to Mubadala [1]. - The transaction is expected to close by early December 2025, pending final documentation and customary closing conditions [1]. Strategic Rationale - Post-transaction, Aris Mining will have 100% ownership of Soto Norte, increasing total mineral reserves from 6.9 million ounces (Moz) to 9.1 Moz, a 32.8% increase [3]. - The total mineral resources will rise from 18.3 Moz to 21.7 Moz, an 18.8% increase [3]. - The Net Present Value (NPV) of the Soto Norte project at a gold price of $2,600 per ounce will increase from $1.4 billion to $2.7 billion, an increase of $1.3 billion [3]. Project Overview - Aris Mining first acquired a 20% interest in Soto Norte in April 2022 and increased it to 51% in June 2024 [4]. - The project is confirmed as a high-grade, long-life underground gold project with a positive Prefeasibility Study completed in September 2025 [4]. - Environmental studies are being finalized for licensing submissions planned for the first half of 2026 [4]. Financial Metrics - The transaction is expected to enhance the company's total attributable gold mineral reserves and resources on a per-share basis, leading to NAV accretion [7]. - The Soto Norte project is projected to have an initial capital expenditure of $625 million, with an after-tax NPV of $2.7 billion and an internal rate of return (IRR) of 35.4% [8]. Production and Economic Outlook - The project is designed to support an average annual gold production of 263,000 ounces in years 2 to 10 and 203,000 ounces over the life of the mine [8]. - Life-of-mine cash costs are projected to be low at $345 per ounce, with all-in sustaining costs (AISC) of $534 per ounce [8]. - The project is expected to generate significant by-product credits from copper and silver, with life-of-mine income tax and royalty contributions estimated at $2.6 billion and $393 million, respectively [8].

Core Insights - Rovsing A/S reported Q1 2025/26 results with revenue and EBITDA below expectations due to increased project efforts and delays in service-based projects [2][4] - The company maintains its revenue guidance for the financial year 2025/26, expecting revenue between DKK 37–41 million and positive EBITDA between DKK 1–3 million [3][4] Financial Performance - Q1 revenue was DKK 7.3 million, down from DKK 9.5 million in Q1 2024/25 [4] - Q1 EBITDA was DKK -0.6 million, compared to DKK 0.8 million in Q1 2024/25 [4] - Order intake for the quarter was DKK 3.3 million, with an order backlog of DKK 34.8 million at the end of September 2025 [4] Market Activity - Increased tender activity was noted, with bids submitted for key missions under the European Commission's Copernicus Earth Observation Programme and the Secure Communications Constellation IRIS² [4] - Growing European space budgets are expected to support market growth, with Denmark announcing a national space budget of DKK 2.7 billion for 2026–2029 and Germany announcing EUR 35 billion for national space programmes up to 2030 [4] Strategic Initiatives - Rovsing is executing an updated strategy focused on accelerating growth and identifying potential acquisition targets as part of a buy-and-build strategy [4]

Core Insights - SEGG Media Corporation has launched its international gaming platform, Lottery.com International, allowing players outside the U.S. to create accounts and sample games for free [1][2] - The strategic decision to bring operations in-house is expected to maximize revenue potential, with projections of approximately $6.35 million in revenue for the fiscal year 2026 [2] - The international rollout is seen as a significant growth catalyst, combining enhanced technology and local market execution to rapidly scale revenues and unlock shareholder value [3] Company Strategy - The launch exemplifies the company's buy-and-build strategy, aimed at executing operations at speed and scale while generating revenue from international gaming [3] - The platform will initially offer free games, with real money gaming options becoming available in select jurisdictions starting in November [3] - The company emphasizes disciplined operations, strategic expansion, and rapid market penetration to capitalize on the convergence of sports, entertainment, and gaming [3] Market Positioning - SEGG Media aims to redefine the gaming experience for customers worldwide and position itself as a leader in global gaming, including lottery [3] - The company operates a portfolio of digital assets, focusing on immersive fan engagement and ethical gaming [4]

Core Insights - EVI Industries, Inc. reported a 22% year-over-year revenue increase to a record $110 million for the quarter ended June 30, 2025, with a gross profit rise of 24% to $33.9 million, resulting in a gross margin of 30.8% [2][3] - The company achieved a fiscal 2025 revenue growth of 10% to $390 million, with net income increasing by 33% to $7.5 million and EPS rising to 49 cents, a 32% increase from the previous fiscal year [3][6] - EVI's operational strategy focused on long-term growth through acquisitions and organic growth, with a compounded annual growth rate of 7% in organic revenue over three years [4][9] Financial Performance - The company reported net income of $2.1 million for the quarter, a 1% increase year-over-year, despite a decline in operating cash flow to $21.3 million due to increased working capital investments [2][6] - EVI's gross profit margin expanded to 30.4% for fiscal 2025, with operating income advancing 18% to $13.8 million [3][4] Operational Highlights - EVI's ERP platform usage increased significantly, with 27 out of 31 business units utilizing it by June 2025, enhancing operational efficiency [4][5] - The company optimized field service operations, enabling over 8,500 service appointments in June 2025, which also served as sales touchpoints [5] Strategic Initiatives - EVI's acquisition of Girbau North America, rebranded as Continental Laundry Solutions, is expected to contribute approximately $50 million in annual revenues and enhance sourcing capabilities [14] - The company declared a special cash dividend of 33 cents per share, reflecting confidence in its financial health and ability to return value to shareholders [15] Market Positioning - EVI's strategic focus on essential commercial laundry services across sectors like healthcare and hospitality positions it favorably in a fragmented market [8][9] - The company is optimistic about future growth, supported by a solid backlog of customer orders and a robust acquisition pipeline [12][13]

Core Viewpoint - Vandemoortele, a Belgian bakery group, has secured €100 million ($118.01 million) in funding to support its expansion and acquisition strategy in the bakery sector [1][2]. Group Financial Overview - Vandemoortele reported a turnover of €1.98 billion and an operating profit of €256 million in 2024 [3]. - The company achieved revenue of €1.05 billion in the first half of 2025, reflecting a 10.6% increase compared to the same period in 2024 [5]. - Adjusted group EBIT for the same period stood at €70.2 million, a decrease of approximately 22.51% [6]. - Attributable group earnings after tax reached €16 million, down by approximately 72.4% from 2024 [6]. Acquisition Strategy - The company has been active in mergers and acquisitions, completing multiple deals in the past eighteen months that contributed an additional €1.7 billion to its turnover [3][4]. - Recent acquisitions include Délifrance, Bunge's European margarine and spreads division, and Italian frozen bakery business Lizzi [4]. - The pending acquisitions are expected to broaden Vandemoortele's product portfolio and enhance its international presence [7]. Investment and Growth Focus - The newly secured financing aims to strengthen Vandemoortele's capital framework, enabling continued focus on mergers and acquisitions [2]. - The company is also investing in enhancing production capacity and improving product mix, innovation, and cost management [5].

Core Viewpoint - EVI Industries, Inc. has experienced significant stock price growth, outperforming the industry and key competitors, driven by strategic acquisitions and strong demand in the commercial laundry sector [1][11][12] Company Overview - EVI Industries is a value-added distributor of commercial laundry equipment and services, operating across the U.S., Canada, the Caribbean, and Latin America [3] - The company employs a "buy-and-build" strategy since 2015, focusing on acquiring complementary businesses to enhance growth and service offerings [3][4] Financial Performance - For the nine months ending March 31, 2025, EVI's revenues increased to $279.9 million from $263.4 million year-over-year, with net income rising over 50% to $5.4 million [5] - The company has improved its financial flexibility with an extended credit agreement maturing in 2030 and an expanded borrowing capacity of $200 million [6] Market Position and Demand - EVI benefits from steady demand in the commercial laundry sector, supported by a diversified customer base that includes institutional, industrial, and government clients [7] - The company's strategic acquisitions have enhanced its market position, allowing for deeper penetration and sustainable growth [4][11] Valuation - EVI Industries is currently undervalued, trading at 1.01X trailing 12-month EV/sales, significantly lower than the industry average of 7.8X and its peers [9][12] Challenges - The company faces challenges such as rising SG&A costs and the need for digital transformation to remain competitive [8] - Environmental compliance issues may pose reputational risks that could impact future growth [8]

Core Insights - SEGG Media Corporation has announced a strategic investment in Veloce Media Group, aiming to enhance its position in the sports, entertainment, and gaming sectors [1][2][3] Investment Details - The investment values Veloce at £40 million ($53 million USD) pre-money and will be executed in two tranches, allowing SEGG to acquire a majority stake of 51% [2][7] - The first tranche includes a commitment of £2 million ($2.6 million USD) for Veloce's acquisition of Quadrant, with the remainder expected to be completed by the end of July 2025 [7] Company Performance - Veloce Media Group reported £12.8 million ($17.5 million USD) in revenue for the fiscal year ending March 2025, showcasing strong growth potential [4] - The company has established the world's largest racing and gaming media network, achieving over 750 million monthly digital views [4][14] Strategic Focus - SEGG Media's investment is part of a broader buy-and-build strategy aimed at creating immersive sports experiences and next-generation media [2][3] - The company is focusing on motorsport and soccer as key verticals for future growth, leveraging partnerships and content creation to enhance fan engagement [8][9] Market Positioning - The partnership with Veloce positions SEGG Media to tap into a digitally active youth demographic, particularly in regions like Saudi Arabia, which has a significant gaming population [11][12] - Veloce Media Group is recognized for its innovative approach in engaging Gen-Z and millennial audiences through immersive content and competitive platforms [4][10]

Core Insights - Lottery.com Inc. is acquiring a 90% stake in Nook Holdings Limited, a UAE-based sports and wellness incubator, expected to be completed by June 30, 2025 [1][2] - The acquisition is part of a broader growth strategy that includes a multi-market rollout plan for Sports.com-branded co-working and incubation models [2][3] - Nook is projected to increase its net profit from $354,000 in FY 2024 to $490,000 in 2025, reflecting a 38% growth [3] Company Strategy - The company is executing an aggressive buy-and-build strategy, aiming to integrate high-potential, cash-generative businesses into its operations [3][6] - A $100 million financing facility with Generating Alpha is in place to support strategic acquisitions and enhance existing operations [3] - The second Sports.com incubator hub will be located in Al Quoz, Dubai, and is expected to open in Q4 2025 [4] Market Expansion - Additional locations for international expansion have been identified, indicating a long-term platform play [6] - Each Sports.com hub is designed to serve as a launchpad for startups in sports, health, wellness, and entertainment, aiming to unlock new monetization channels [6]