It’s a baby $TPL that just had 80% FCF margins last quarter and 90% EBITDA margins. They have a FWD PE of 34, and this is before any data center agreements, which will be a huge win for them long term. They will collect royalties from all of different use cases on their land. These agreements will be set up so that as the data center uses more power, they collect more royalties from the power being used and the water to cool these data centers. link
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