Quinsam Capital Corp

Well, it's 10 o'clock, so... We're going to get... Hold on, I'm just going to mute people here.

Hello.

Hello. All right. Well, welcome, everybody, and at least welcome to the third quarter conference call. I'm going to assume that everyone's already looked at the results and probably read the press release, so I'm not going to go into, you know, what's already there. Third quarter, basically, we were slightly in the black, which is not terribly dramatic one way or the other. And there wasn't a lot of activity in the court. So really, the key update is what's going on here in Q4. We have two of our private investments that are both at this stage looking to list. The largest one, we've carried it under the name Peninsula. It's announced to go public financing with a syndicate of large investment dealers here in Toronto under the name of Rentax. It's a U.S. single-family rental business. It's out there in the market now trying to raise funds at $1.90. Our carrying value is quite a bit below that. At this stage, they're in marketing. I understand that it's going sort of okay. We're hopeful that the transaction will complete. There's probably, I'm guessing, some risk in the $1.90 price, but we'll see. That's an important development for Q4, and obviously we hope that it goes ahead. The other gold public that we're looking at here in Q4 is a company called Electro Metals. That is a, you know, it's a relatively traditional Canadian mining story, copper gold properties. And, you know, the market obviously for mining is relatively good right now. They are awaiting final approval from the exchange to list. I understand they're down to the short strokes and that they expect to get final listing approval in the next week or two. And once they have that listing approval, they believe that they have the funds lined up to close and then commence trading. So those are probably the two big things in front of us for Q4. Between the two of them, there's about two cents of NAV that are in play here. So, you know, we hopefully will see the amount of liquid investments move from the six cent level up to eight cents. And obviously, hopefully beyond that, you know, with the expected listing prices of both electrometals and um uh peninsula uh uh above where we're carrying them excuse me roger yeah quick question uh electro meta metals what what are they into well it's fairly traditional mining story this is actually a company that we bought uh quite a long time ago uh as a cannabis company You know, back in the day, it was called Ancient Strains, and it was run by Daryl Hodges, who used to run Jennings Capital. And he was, you know, a mining guy for most of his life. He's a geologist. You know, he always focused on mining companies. And when the cannabis market turned, he decided to reposition it as a mining play. So, he's been working with that for the last two or three years. He tried to list about 18 months ago, but obviously mining markets were much less favourable than they are today. And that attempt did not go ahead. He couldn't get the money. But, you know, obviously now we're looking at a much more favorable mining market.