Abitibi Royalties is on a roll

Shares of Abitibi Royalties (TSXV: RZZ) are up 168% since April 2016 — surpassing the XAU Index, which in Canadian dollars was up by about 90% in 2016. The company’s shares were trading at a 52-week low in April last year of $3.45 and touched a 52-week high of $10.75 in February 2017, and are currently trading at around $9.24 apiece. Ian Ball, the company’s president and CEO, believes the junior’s outperformance was due to exploration results at the Odyssey deposit, which is about 1.5 km due east of the current limit of the Canadian Malartic open-pit mine. Abitibi holds a 3% net smelter return royalty on the Odyssey North Zone, within the Canadian Malartic mine property, which has been jointly owned by Agnico Eagle Mines (TSX: AEM; NYSE: AEM) and Yamana Gold (TSX: YRI; NYSE: AUY) since 2014. Read the complete article  at The Northern Miner.