Tavi Costa
Fund ManagerFounder and CEO, Azuria Capital
Norsemont Mining is the largest position in Tavi Costa's disclosed book
6 tracked · Mixed sources · Positions as of Apr 7, 2026 · Filings and statements
Tavi Costa founded Azuria Capital after years as a Crescat Capital partner and macro strategist. This page is Costa's public comments, not Crescat's official combined-fund book and not Kevin Smith's page.
Portfolio allocation
2 of 6 positions weighted
Weights are each position's share of the reported value of the charted positions. 2 separate issuer-ownership rows are listed below and are not 13F portfolio weights. 4 more disclosed names have no size data and are not charted.
Holdings (6)
Ordered by reported value
HVGDF 19.7%
Largest % ownership stake
C$20.1M
Named fair value (CAD)
Portfolio Intelligence
Portfolio Intelligence
Aggregated from this investor's disclosed positions. Methodology
Portfolio Gold Beta
Equal-weight average of cached stock-level gold beta values across disclosed holdings with available regression data.
Beta
0.82
R-squared
0.16
Coverage
83%
5 of 6 holdings, equal weight
Consensus Holdings
Holdings also disclosed by other tracked investors.
| Ticker | Company | Also held by |
|---|---|---|
| GOTRF | Goliath Resources Limited | 2 investors, Crescat Capital, Rob McEwen |
| HVGDF | Harvest Gold Corp. | 2 investors, Bob Moriarty, Crescat Capital |
| TETOF | Tectonic Metals Inc. | 2 investors, Crescat Capital, Jeff Clark |
| ALTA | Altamira Gold Corp. | 1 investor, Crescat Capital |
| JUGRF | Juggernaut Exploration Ltd. | 1 investor, Crescat Capital |
| NRRSF | Norsemont Mining Inc. | 1 investor, Don Durrett |
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Filing Timeline
- Apr 7, 2026ALTAAltamira Gold Corp.
Azuria-era board seat (appointed Apr 7 2026). Newsfile: Founder and CEO of Azuria Capital. Share count / issuer % UNVERIFIED — board seat only, not a Crescat hold.
Public StatementNewsfile · Altamira board appointment - Dec 23, 2025NRRSFNorsemont Mining Inc.
Crescat (not Azuria) increased support in a financing that closed for approximately CAD$15,075,900 (US$10,929,000). Placement dollars, not an issuer %. Issuer % UNVERIFIED.
Fund HoldingIssuer PR · Norsemont / Crescat close - Aug 1, 2025HVGDFHarvest Gold Corp.
Crescat (not Azuria) lead investor; non-diluted ownership approximately 19.73% after the Aug 1 2025 close (supersedes the Apr 21 ~18.79% close).
Fund HoldingTheNewswire · Harvest Gold / Crescat close - Apr 24, 2025TETOFTectonic Metals Inc.
Crescat (not Azuria) cornerstone C$2,000,000 inside a >C$5M strategic funding (Apr 24 2025); later close anchored by Crescat + principals totalling C$3.5M. Placement dollars, not an issuer %. Issuer % UNVERIFIED.
Fund HoldingIssuer PR · Tectonic / Crescat financing - Apr 14, 2025JUGRFJuggernaut Exploration Ltd.
Crescat (not Azuria) announced a strategic investment representing 28.95% ownership post-funding on a partially diluted basis. Close PRs do not restate 28.95% — FLAG announce-only. Size of a later Crescat hold UNVERIFIED.
Fund HoldingIssuer PR · Juggernaut / Crescat announce - Mar 21, 2025GOTRFGoliath Resources Limited
Issuer-stated Crescat (not Azuria) ownership ~14.4% in the Mar 21 2025 warrant-exercise PR (with Rob McEwen ~3.9%).
Fund HoldingGlobeNewswire · Goliath warrant exercise
Notable disclosed positions from regulatory filings and public statements.