Canadian Materials Undervalued over 20% based on DCF

Barrick Mining

Market Cap: CA$50.3b

Engages in the exploration, development, production, and sale of mineral properties.

Lundin Gold

Market Cap: CA$15.5b

Operates as a mining company in Canada.

Ivanhoe Mines

Market Cap: CA$14.6b

Engages in the mining, development, and exploration of minerals and precious metals in Africa.

CCL Industries

Market Cap: CA$13.6b

Manufactures and sells labels, consumer printable media products, technology-driven label solutions, polymer banknote substrates, and specialty films.

West Fraser Timber

Market Cap: CA$7.6b

A diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy.

Triple Flag Precious Metals

Market Cap: CA$6.5b

A precious metals streaming and royalty company, engages in acquiring and managing precious metals, streams, royalties, and other mineral interests in Australia, Canada, Colombia, Cote d’Ivoire, Honduras, Mexico, Mongolia, Peru, South Africa, and the United States.

OceanaGold

Market Cap: CA$4.4b

A gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand.

NGEx Minerals

Market Cap: CA$4.1b

Engages in the acquisition, exploration, and development of mineral properties in South America.

Sandstorm Gold

Market Cap: CA$3.8b

Operates as a gold royalty company.

K92 Mining

Market Cap: CA$3.5b

Engages in the exploration and development of mineral deposits in Papua New Guinea.

Fortuna Mining

Market Cap: CA$2.7b

Engages in the precious and base metal mining and related activities in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, Peru, and Senegal.

Skeena Resources

Market Cap: CA$2.2b

Engages in the exploration and development of mineral properties in Canada.

Aris Mining

Market Cap: CA$1.7b

Engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana.

Labrador Iron Ore Royalty

Market Cap: CA$1.7b

Through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada that produces and processes iron ores in Canada.

Aya Gold & Silver

Market Cap: CA$1.7b

Engages in the exploration, evaluation, and development of precious metals projects in Morocco.

Silvercorp Metals

Market Cap: CA$1.6b

Acquires, explores, develops, and mines mineral properties in China.

Alphamin Resources

Market Cap: CA$1.2b

Engages in the production and sale of tin concentrate.

Major Drilling Group International

Market Cap: CA$719.8m

Provides contract drilling services to mining and mineral exploration companies in the United States, Canada, South and Central America, Australasia, and Africa.

Versamet Royalties

Market Cap: CA$681.6m

Operates as metals royalty and streaming company, engages in the acquiring and managing royalties, streams, and other similar interests on metals and mining operations and projects in Peru, Africa, Canada.

Elemental Altus Royalties

Market Cap: CA$481.7m

Engages in the acquisition and generation of precious metal royalties.

Lithium Royalty

Market Cap: CA$346.1m

Operates as a lithium-focused royalty company in Canada, the United States, Australia, Argentina, Brazil, and South America.

Western Copper and Gold

Market Cap: CA$338.0m

An exploration stage company, engages in the exploration and development of mineral properties in Canada.

Titan Mining

Market Cap: CA$184.1m

A natural resource company, acquires, explores, develops, produces, and extracts mineral properties.

Vizsla Royalties

Market Cap: CA$181.4m

Operates as a precious metal royalty company.

Foraco International

Market Cap: CA$157.8m

Provides drilling services in North America, South America, the Asia Pacific, the Middle East, Africa, and Europe.

Vitreous Glass

Market Cap: CA$38.0m

Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Canada.

Fab-Form Industries

Market Cap: CA$11.9m

Engages in the developing, manufacturing, and distributing technology to form concrete footings, columns, foundations, and walls for building structures in Canada.