IFCM MicroCap

$GG.V $GGGOF reports results in USD ✔️ $GGGOF $1.68 per share ($120m EV) ✔️$0.07 diluted earnings in Q1 ✔️Stock buyback likely soon ✔️Shareholders also get Q1 2027 spinoff of Summit USA likely worth 2x current market cap Disc: Long and wrong a lot

$LIB.V Battery grade lithium being produced at Select Water $WTTR site.

@AbdrazakAlmas Yes

@IntelligentCM may I ask if you recorded it yourself ?

$KLNG

$SNWV Peak skin sub disruption caused distributor churn and slower sales cycles the last few quarters. Management says bottom is in. Q1 3% YoY growth Q2 guided 10-15% growth FY 26 guided 16-25% growth “We've been seeing a great deal of engagement from some large systems right now.”

$BILD.V Management continuing to see consolidation opportunities due to the recent weakness in homebuilding and renovation markets. Recently acquired three additional locations in Florida for at 1-2x EBITDA that also expands them into tile, new flooring category.

$SNWV Morgan has done a good job being transparent through peak wound care disruption.

Here is a new presentation. What three centuries of Norse raiders teach us about microcap investing. microcapclub.com/we-are-vikings/

Good update with Golconda Gold $GG $GGGOF $130m market cap/EV Should do $30m USD EBITDA @ $4300 Au NCIB should start May/June In this valuation investors also get the US asset spinoff late 2026/Early 2027 likely worth another $200m+ for free Disc: long youtu.be/oFDSWpotE2g?si…

Houston bound ✈️

New Article My high school golf coach was 82 years old. On the day I made the varsity team, he walked over to me before our practice round and said, "Ian, I'm going to play with you today. And I'm going to play one-handed. I bet I can beat you." microcapclub.com/investing-is-n…

Here is our recent update with Golconda Gold $GG.V $GGGOF w/ 28% owner CEO Ravi Sood. Disciplined gold producer trading at 4x EV/EBITDA (2026), aiming to triple gold production by 2029 + spinoff of US asset in 2027 as standalone US gold producer. microcapclub.com/update-with-go…

New Article - The Last Moat As AI tools become more widespread and more capable, the informational playing field for for this data flattens. The alpha must go somewhere, and it migrates to wherever commoditization has not arrived yet. microcapclub.com/the-last-moat/

$BLM.V hiring for 30-90 day assignment in the Caribbean Probably get more inquiries if it said "spouse not allowed" 😆

$USAR gets all the headlines and wants to do more acquisitions. We've always believed $IDR is a great acquisition target and surprised $HL hasn't over the years. $IDR a domestic profitable gold mine that consolidated an entire district in Idaho. The largest critical mineral land holder in the US, and the largest Thorium position in the US. They also added copper recently. Oddly I think Thorium is what sparks something in the not too distant future (do a search for Thorium). $IDR has a great management team with many ways to win being operated on a generational timeframe. Disc: Long $IDR and wrong a lot

$QXO acquiring $BLD at 15x ADJ EBITDA. $BILD.V acquiring small flooring cos at 1-3x Disc: Long $BILD.V and wrong a lot

New Article John LeFrere, an analyst hired by Michael Steinhardt in the 1970s, recalls his first weeks on the job; he visited IBM and returned convinced that its profits were headed upward. LeFrere recommended buying IBM stock ahead of that Friday's quarterly results, but Steinhardt pushed back. He had been watching IBM splutter about aimlessly on the stock ticker, and he had a black feeling in his gut that the stock was going nowhere. “Mike, I think you're wrong,” LeFrere said. It took courage to contradict Steinhardt, but LeFrere had a strong build and figured he could bench him. “I hate the pig,” said Steinhardt. “Mike, I don't care how it looks on the tape. The results are going to be good and the stock's going up.” Steinhardt's contrarian radar flickered. “How much you want to buy then?” “How about ten thousand?” LeFrere ventured, calculating that, with IBM trading at $365, owning three and a half million dollars' worth of one stock was about the maximum conceivable. Steinhardt hit a button and ordered his trader to buy 25,000 IBM immediately. “Mike, I said ten thousand,” LeFrere said anxiously. “How convinced are you of your fuckin' opinion?” Steinhardt barked. “I'm very convinced.” “You better be right,” Steinhardt said grimly. He hit the button again and bought another 25,000. That exchange left Steinhardt with some $18 million worth of IBM, representing perhaps a quarter of his capital. It was a hefty concentration of risk in one stock, five times the size that LeFrere had recommended. But when IBM's results came out at the end of the week, the stock shot up 20 points, yielding an instant profit of $1 million. LeFrere had survived his rite of passage. microcapclub.com/are-you-an-ana…

We finally got around to updating our website from a mid 2000's theme to a more mid-2020's vibe. From time to time we still enjoy living in the past but investing for the future😂 if.capital

We like Koil Energy $KLNG - a tiny $30m EV offshore O&G subsea tieback company providing products and services in an expanding market. The company was taking market share at $55 oil (growing), and now long-term production decisions are shifting even more so to offshore subsea basins around the world. Global energy demand continues to rise , with deepwater fields naturally declining at an average rate of 7% per year , underscoring the urgency for new development to maintain current output. Global operators are allocating more capital towards deepwater and ultra deepwater developments , particularly in Brazil, the U.S., and West Africa. Subsea tieback developments are gaining momentum as a preferred approach among offshore operators , allowing operators to access nearby reservoirs, utilize available topside capacity, and leverage existing subsea infrastructure with potential for shorter payback periods than traditional greenfield projects. Subsea tieback projects frequently have the potential to achieve first oil within 2 years of final investment decision Industry analysts expect subsea tree awards to increase from 247 in 2025 to 296 in 2026 , a 20% increase, with Koil's product sales tending to correlate with subsea tree awards. Analysts also expect subsea tree installation activity to increase by approximately 8% compared to last year's elevated installation levels, closely correlated with Koil service activity. $KLNG represents a nano cap pure play in the subsea tieback market. They have expanded from one basin in the Gulf of America to several others (Brazil, West Africa, North Sea) in 2025-2026 that will provide a significant organic growth opportunity over the next several years. Disc: Long and wrong a lot