Replies to post #385 on Equity Field Notes from temporal sources

[DanWebzster]

AGS is a slot supplier that is being hit by next-wave Covid fear.

2020 Revenues are only expected to approach 33% of 2019 Revs.

AGS has adapted to the COvid THING in 2 ways:

* Drastically cutting expenses

* Borrowing 96M with 13% interest rate. This debt mature in 2024.

( Woke Capital-Banking complex loves this plandemic THING. Why wouldn't they? Previously viable business are borrowing money at 13%.)

* Intend to only add back expenses in proportion to participaton revenue (their share of the revenue of their leased machines)

Will AGS survive? Quite possibly, most of their customer base is in the tribal casino market, which is less vulnerable to central control than Vegas and other major gambling centers.

I will put this on my tax loss selling list.

[DanWebzster]

OR uses 'accelerator' model to enhance value their royal streams during periods of rising gold prices.

Accelerator model means taking the risk of getting involved earlier in the life of a project and taking equity positions in these projects.

In 2020, they have the following producing royalties:

- Malartic 5%
- Eagle 5%
- Elenore ~3%
- Island Gold ~2%
- Seabee ~3%

About 25% of assets are equity positions, including 100% of Barkerville Gold. Progress at the Cariboo project is a key to the future of OR stock.

OR has a higher margin and higher exposure by revenue than FNV or Royal Gold.

Their equity position in Falco has been a drag on OR. In the past they have written down part of this equity position. It's possible that there will be more write-downs in the future. It may be that the Falco project in Quebec will never be economic to bring into production.