Franco-Nevada (Franco) has been one of our favourite precious metals royalty businesses for a long time. Back in 1998, Jonathan Wellum who was the former CEO of AIC Mutual Funds and a portfolio manager accumulated the largest institutional position in Franco. Jonathan had the priviledge of spending many hours with the co-founder of Franco, Seymour Schulich one of Canada’s most successful investors. Jonathan, along with a handful of other investors travelled with Mr. Schulich to the famous Goldstrike mine in Nevada in the Fall of 1997. Franco was the pioneer of the precious metal royalty industry which later spawned the streaming business of which Franco-Nevada is apart of today. Needless to say, when Rocklinc commenced operations in January 2010 we starting building positions in the company. During this period, Franco has provided excellent returns and has proved to be one of the very best ways to gain exposure to precious metals and their steady price appreciation.
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