Massif Capital
Our archive holds 7 letters from Massif Capital, behind 12 investment theses and positions in 9 companies. Every quote below is copied verbatim from the letter it came from.
Massif Capital’s own letters pageCompanies held · 9
Every company Massif Capital has disclosed a position in across our archive, with the letter that last mentioned it.
- Aker BPJun 2026
- Allied Critical MetalsJun 2026
- ChemringJun 2026
- EnovixJun 2026
- EquinorJun 2026
- Global AtomicJun 2026
- Harbour EnergyJun 2026
- LarvottoJun 2026
- Var EnergiJun 2026
Theses · 12
- June 2026
Allied Critical Metals is advancing tungsten projects in Portugal with strong project economics and exposure to a Western supply-chain rerating.
Read the full thesis - June 2026
Equinox Gold is a de-risking gold producer with falling debt, dividend initiation, merger-driven scale and restart upside that the market is not fully recognizing.
Read the full thesis - June 2026
Larvotto Resources is bringing the Hillgrove antimony mine into production with secured offtake in a market reshaped by China’s export ban.
Read the full thesis - December 2025
Vår Energi is a European E&P with operational cash flow from Johan Castberg and Balder X and industry-leading free cash flow yields supported by capex flexibility.
Read the full thesis - December 2025
Equinor is a diversified, net-cash producer with embedded late-cycle offshore growth and low dependence on new FIDs, providing defensive ballast.
Read the full thesis - December 2025
Midnight Sun Mining is exploring a large Zambian land package to discover a strategically significant sulfide copper system near the world-class Lumwana mine.
Read the full thesis - December 2025
Harbour Energy is poised to increase free cash flow via portfolio and balance sheet actions such as Waldorf and LLOG, reducing reliance on oil price moves.
Read the full thesis - December 2025
Lithium Argentina is benefiting from lithium price recovery and holds strategic value to partner Ganfeng Lithium, which may seek a takeover after the 2026 standstill.
Read the full thesis - December 2025
Magna Mining is leveraging Sudbury’s existing infrastructure and underutilized processing capacity to restart high-grade deposits and scale to 100M lbs of copper by 2028.
Read the full thesis - December 2025
Larvotto Resources is advancing the Hillgrove project with gold and antimony, offering exposure driven primarily by antimony economics rather than gold sentiment.
Read the full thesis - June 2025
Alphamin is well-positioned for the next decade due to strong tin demand outpacing supply growth amidst limited new projects.
Read the full thesis - December 2024
Harbour Energy is well-positioned for growth and value generation through strategic acquisitions and strong cash flow, particularly following its recent expansion into diverse international markets and increased natural gas exposure.
Read the full thesis
Letter archive · 7
2025
Funds · 2
- Massif Capital6
- Massif Capital Real Assets Strategy1
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