Elemental Royalty Corp

Elemental Royalty Corp. is a precious and base metals royalty company with a globally diversified portfolio of producing and development-stage royalties. The company was formed through the combination of Elemental Altus and EMX Royalty, creating a scaled royalty platform with exposure to long-life mining assets operated by leading global producers. Headquartered in Vancouver, Elemental Royalty focuses on generating stable, high-margin cash flows through royalties while maintaining significant upside to exploration success and mine expansions.

Elemental’s portfolio comprises more than 200 royalties across key mining jurisdictions, including North America, South America, Australia, Europe, and Africa. As of 2025, the company holds 16 cash-flowing royalties and 34 advanced development assets, providing both near-term revenue visibility and long-term organic growth. Elemental is listed on the TSX Venture Exchange and NASDAQ under the symbol ELE and benefits from a strong capital markets profile and institutional shareholder base.

Elemental Royalty offers investors diversified exposure to gold and other critical commodities through a low-risk, capital-light royalty business model. Unlike traditional mining companies, Elemental does not operate mines or bear operating and capital cost inflation, allowing it to retain high margins and predictable cash flow. The company’s revenue base is underpinned by cornerstone royalties on high-quality, long-life assets such as Timok in Serbia, Caserones in Chile, and Karlawinda in Western Australia, all operated by established mining companies.

The combined portfolio is positioned for meaningful organic growth, driven by mine expansions, reserve growth, and the advancement of multiple development-stage projects toward production. Analyst consensus estimates forecast revenue of approximately US$89 million in 2026, reflecting strong growth from existing assets without the need for additional acquisitions. With direct leverage to commodity prices and no sustaining capital obligations, Elemental provides investors with exposure to rising gold and copper prices while mitigating many of the risks associated with mine ownership.

Geographic diversification further enhances the investment case, reducing jurisdictional and asset-specific risk. A significant portion of Elemental’s assets are located in Tier-1 and Tier-2 mining jurisdictions, and the company maintains a disciplined approach to portfolio construction. Supported by a strong balance sheet and a strategic investment from Tether, Elemental Royalty is well positioned to pursue additional accretive opportunities over time.

Elemental Royalty is led by an experienced management team with a strong track record in royalty companies, mine finance, and capital markets. The company is chaired by Juan Sartori, former CEO and co-founder of EMX Royalty, who brings more than two decades of experience in building and scaling royalty and investment platforms. The executive team includes CEO Dave Cole, co-founder of Elemental Altus, who has led the company through its public listing and subsequent growth, and President & COO Fred Bell, former CFO of EMX Royalty with extensive experience at Royal Gold.

Financial leadership is provided by CFO Stefan Wenger, who has over 13 years of mining finance experience, while investment strategy is overseen by Chief Investment Officer David Baker, a senior mining finance professional with a background in sourcing and executing royalty transactions. The Board of Directors is composed of industry veterans with expertise spanning mining, finance, asset management, and corporate governance, providing strong oversight and strategic direction.

Elemental Royalty’s growth strategy is centered on organic revenue expansion from its existing portfolio, complemented by disciplined capital deployment into new royalty opportunities. The company prioritizes royalties on long-life assets with expansion potential, allowing revenue to grow over time without additional capital investment. Key near- and medium-term growth catalysts include processing plant expansions, reserve upgrades, and exploration success at cornerstone assets such as Timok, Karlawinda, Caserones, and Laverton.

In addition to organic growth, Elemental leverages its in-house technical expertise to generate royalties through early-stage project generation and partnerships with operators. This approach has historically delivered exceptional returns, as demonstrated by assets like Timok, where a modest initial investment has translated into substantial long-term value. The company remains selective in pursuing acquisitions, focusing on transactions that are immediately accretive on a net asset value basis while preserving balance sheet strength.

Elemental Royalty has achieved meaningful scale following the combination of Elemental Altus and EMX Royalty, with a market capitalization of approximately US$932 million as of late 2025. The company benefits from a strong balance sheet, including approximately US$42 million in cash, no outstanding debt, and access to an undrawn US$50 million credit facility. A strategic US$100 million investment from Tether has further strengthened Elemental’s financial position and enhanced liquidity.

Consensus analyst estimates project revenue of approximately US$89 million in 2026, reflecting strong growth driven by existing producing assets and development projects advancing toward production. Elemental trades at valuation multiples below those of larger royalty peers, with meaningful upside as cash flow increases and the company continues its progression toward the intermediate royalty company tier. The royalty model delivers high-margin cash flow with limited capital requirements, supporting long-term value creation and optional shareholder returns.

Elemental Royalty Corp. represents a compelling opportunity for investors seeking diversified exposure to gold and other critical metals through a low-risk, high-margin royalty business model. With a globally diversified portfolio of producing and development-stage royalties, strong revenue growth visibility, and a proven management team, the company is well positioned to deliver long-term value.

As Elemental continues to benefit from organic growth across its portfolio and advances toward the next tier of royalty companies, investors gain exposure to rising commodity prices without the operational and capital risks associated with mine ownership. Supported by a strong balance sheet, institutional backing, and a disciplined growth strategy, Elemental Royalty is positioned as a scalable, resilient platform for long-term shareholder returns.