Quinsam Capital Stock Earnings Reports

Quinsam reported its best quarter in some time with a NAV addition of over $1 million; NAV is nearing $0.12 per share and the second quarter is tracking positively so far. Key value drivers were Nevada Organic Phosphate (recent financing lifting implied valuation to $30–$40M) and EDM Resources (an early $150k unit investment that has appreciated to roughly 8x including warrants). The company exited its Saturn Oil & Gas position and currently has no oil & gas exposure. The most important near-term catalyst is the expected direct listing of Peninsula (a U.S. single-family rental business) — carried at $1.30, with Peninsula’s own NAV near $1.90 and an anticipated ~3% dividend; Peninsula could represent roughly $0.02 of Quinsam’s NAV and is expected to list in June/July. Several smaller portfolio companies (Longview Gold, Pelican AI, Bond Intelligence) may also list in coming months but are not expected to be material individually. Management prefers potential transactions that create a meaningful but not overly concentrated stake in an operating, cash-generative business (e.g., buy-in to a ~$50M company to own ~25% or modest financings of $2–3M), and is cautious about making very large single-resource or cash-negative life-science investments. California Nanotech (where management is a director) is highlighted as having promising commercial opportunities — particularly supply of boron control rods for small modular reactors — and management expects potential contract announcements in 2026.