Company Verdicts
In-depth junior mining company analysis with scored verdicts using the 5-factor Verdict Framework.
How a Verdict Gets Written
A Company Verdict is the end product of the Verdict Framework applied to a single junior mining issuer. Every scorecard starts the same way: we pull the most recent NI 43-101 or JORC technical report, the last four quarterly MD&As, the most recent management information circular, and the rolling six months of SEDI or equivalent insider filings. From those documents alone — never from a company deck or an IR call — each of the five factors is scored 1 to 5, summed into a composite out of 25, and mapped to one of three verdicts.
BUY is reserved for composites of 18 or higher with no single factor below 3. WATCH is 13 to 17, or 18-plus with at least one factor that concerns us enough to withhold a position. AVOID is anything below 13, or any score where the capital-structure or management factor is scored 1 — because broken cap tables and broken incentives are the two things that never fix themselves in a junior mining company.
Every verdict is dated. When material new information lands — a resource update, a financing, a management change, a catalyst miss — we publish a new scorecard on the same company rather than edit the old one. The history stays public so readers can see where a thesis bent and where it broke.
What to Expect in a Verdict Post
- A one-paragraph answer capsule — verdict, composite score, P/NAV — at the top
- Factor-by-factor scoring with direct citations to the 43-101 page, SEDI filing, or circular table
- A named comparable-transactions table showing the acquisition-value math
- A catalyst calendar versus working-capital runway
- A disclosure line on any position the desk holds in the company