Hi Just saw the deep dive of Kaspi and I agree of the big picture and analys. I belive that Investors are afraid of the law suit, that they don’t trust the bookkeeping. Also it has not been the best start in Turkie and until you know if it will fly or not it will put precure on the stock price.

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EMX Sells its Moroccan Portfolio and Forms Exploration Alliance with Avesoro July 8, 2025 Strategic rationale: The sale of EMX’s Moroccan business unit is the latest example of efficient execution of our Royalty Generation business. It’s a simple headline, nothing out of the ordinary. This happens often in EMX. The details are as always very interesting: Is it worth 640 thousand USD or 64 million USD? 100x Schrödinger cat uncertainty. Typical. We’ll know 5-10 years from now... DETAILS Alliance stage: - Avesoro has made an execution payment to EMX of $650,000. - Avesoro will provide an initial pool of capital of at least $1.5 million/year to advance the alliance projects and to make new acquisitions within the country of Morocco. The initial term of the alliance will be two years. - Avesoro has agreed to provide the necessary funding to keep the projects in good standing during the term of the alliance. - At any time, Avesoro can elect to deem any of the projects a Designated Project (DP). - Any project that has not been converted to a DP by the end of the alliance term will be returned to EMX. Designated project stage: - Avesoro will retain a 100% ownership in each of the DPs, with EMX retaining a 2% NSR royalty that is uncapped and cannot be repurchased or reduced.  - Each DP will have a minimum $2,500,000 work commitment for the first five years and each DP will be funded from an independent pool of capital.  - Commencing on the first anniversary of the nomination of the first DP, EMX will receive a $50,000 advance royalty payment, escalating by 15% per year until the advance royalty payment reaches $100,000.  - EMX will also receive additional advance royalty payments for each subsequent project for which a positive feasibility study is delivered. These will begin at $50,000, escalating by 15% per year until the project reaches production or the advance royalty payment reaches $100,000. - EMX will also receive milestone payments of $500,000 for each project for which a feasibility study is delivered, and $1,000,000 for each project that reaches production.