First, my Base Carbon trade post mortem, which explains why I prefer indirect exposure through Star Royalties.
Now onto Carbon Streaming.
Someone at some point was going to make Anthony Milewski so toxic he could never be involved with another public company. I did not think that person would be newsletter writer and Carbon Streaming CEO Marin Katusa. The company filed a bombshell of a civil suit against Milewski, former CEO Justin Cochrane and others to recover more than $40-million paid out in compensation and corporate expenses.
One thing the statement of claim made clear is Carbon Streaming is not an operating business and probably never was – it’s a corporate shell with a cash hoard, a legal claim that it’s owed more cash, dubious carbon credits that could be converted to cash and some tax losses. Katusa has been buying shares in the open market and the stock has been on a tear since the suit was filed.
Do you trust Katusa? I sure don’t.
His newsletter business probably depends on turning NETZ around, but I won’t be going anywhere near Carbon Streaming. The money is the prize. Juniors don’t distribute cash to shareholders and wind up the company. I’m watching to see which mining promoter eventually ends up with the money, the shell or both.
