Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: EMX Royalty Corp. (EMX) - EMX currently holds a Momentum Style Score of B, indicating a favorable momentum characteristic [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, EMX shares increased by 7.79%, significantly outperforming the Zacks Mining - Miscellaneous industry, which rose by only 0.88% [5] - In a longer timeframe, EMX's shares have risen by 13.31% over the past month, compared to the industry's mere 0.31% [5] - Over the last quarter, EMX shares surged by 45.61%, and over the past year, they have increased by 97.62%, while the S&P 500 only moved 9.33% and 17.71% respectively [6] Trading Volume - EMX's average 20-day trading volume is 388,269 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, one earnings estimate for EMX has increased, while none have decreased, raising the consensus estimate from $0.03 to $0.05 [9] - For the next fiscal year, one estimate has also moved upwards with no downward revisions during the same period [9] Conclusion - Given the strong performance metrics and positive earnings outlook, EMX is positioned as a 1 (Strong Buy) stock with a Momentum Score of B, making it a compelling investment option [11]

Core Insights - EMX Royalty Corporation reported strong financial results for the first half of 2025, with significant increases in adjusted royalty revenue and adjusted EBITDA, leading to an increase in 2025 revenue guidance due to rising commodity prices [1][2][7] Financial Performance - For the six months ended June 30, 2025, EMX achieved revenue and other income of $14.7 million, adjusted royalty revenue of $19.0 million, and adjusted EBITDA of $12.1 million [1][20] - In Q2 2025, the company recognized adjusted revenue and other income of $8.7 million, a 1% decrease from Q2 2024, while adjusted royalty revenue increased by 5% to $8.2 million [17][20] - Cash flows from operating activities for the first half of 2025 were $8.2 million, compared to $0.5 million in the same period of 2024, marking a significant improvement [5][34] Updated Guidance - EMX has updated its 2025 guidance, projecting GEO sales to range from 10,500 to 12,000 and adjusted royalty revenue between $30 million and $35 million, up from the previous guidance of $26 million to $32 million [7][8] Capital Management - The company made a $10 million early repayment towards its credit facility, reducing the principal from $35 million to $25 million [9] - EMX executed a new Normal-Course Issuer Bid program, allowing for the repurchase of up to 5,440,027 common shares, with 1,202,168 shares repurchased during the quarter [9][10] Portfolio Growth - Key growth drivers include producing assets at Caserones in Chile and Timok in Serbia, with ongoing exploration programs aimed at expanding mineral resources [12][16] - The acquisition of a royalty on the Chapi Copper Mine in Peru is expected to contribute to revenue starting in 2026 [13] Operational Highlights - The company reported a 20% decrease in operating expenditures compared to 2024, primarily due to reduced generative expenditures [10] - EMX's financial position remains strong, with cash and cash equivalents of $17.2 million and working capital of $30.2 million as of June 30, 2025 [5][9]

EMX Royalty Corporation Management's Discussion and Analysis Six Months Ended June 30, 2025 Management's Discussion & Analysis (Expressed in U.S. Dollars, except where indicated) General This Management's Discussion and Analysis ("MD&A") for EMX Royalty Corporation, (the "Company", or "EMX") has been prepared based on information known to management as of August 6, 2025. This MD&A is intended to help the reader understand the consolidated financial statements and should be read in conjunction with the conde ...

Core Viewpoint - EMX Royalty (NYSE: EMX) is a polymetallic royalty generator that has shown exceptional growth and is currently underappreciated by most investors, positioning it as a potential outperformer as gold prices rise [1] Company Summary - EMX Royalty operates in the royalty generation sector, focusing on polymetallic resources, which allows for diversified revenue streams [1] - The company has demonstrated strong growth metrics, indicating robust financial health and operational efficiency [1] Industry Insights - The rising price of gold is expected to positively impact companies like EMX Royalty, enhancing their market position and profitability [1]

Core Viewpoint - EMX Royalty Corporation holds a 2% NSR royalty on the Vittangi graphite project, which is advancing towards mine permitting in Sweden, with all major permits now in force for the Nunasvaara South Mine, part of Europe's largest and highest grade natural graphite resource [1][2]. Company Summary - EMX Royalty Corporation congratulates Talga Group Ltd on its progress with the Vittangi graphite project, which is crucial for producing high-performance battery graphite anode materials for electric vehicles and defense industries [1][2]. - The company acquired its 2% NSR royalty through the acquisition of Phelps Dodge Exploration Sweden AB in July 2010, which included a royalty agreement covering the Vittangi project exploration permits [5]. Industry Summary - The Vittangi project is strategically important as graphite is classified as a critical element by the EU and the US, with current production largely dominated by China [2][3]. - Demand for graphite is expected to rise significantly due to the increasing production of lithium-ion batteries, highlighting the potential of the Vittangi project within EMX's royalty portfolio [4]. - The project has received EU funding support and is designated as a Strategic Project under the European Commission's Critical Raw Materials Act, aiming to produce natural graphite anode materials with a low emissions footprint [3].

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the strategy of "buying high, hoping to sell even higher" [1] - The Zacks Momentum Style Score helps investors identify stocks with momentum by focusing on key metrics [2] Group 2: EMX Royalty Corp. Performance - EMX Royalty Corp. currently has a Momentum Style Score of A and a Zacks Rank of 2 (Buy) [3][4] - Over the past week, EMX shares increased by 2.55%, outperforming the Zacks Mining - Miscellaneous industry, which rose by 1.46% [6] - In the last month, EMX shares rose by 16.8%, compared to the industry's 7.88% [6] - Over the past quarter, EMX shares have risen by 23.91%, and by 50.79% over the last year, while the S&P 500 increased by 19.7% and 14.09%, respectively [7] Group 3: Trading Volume and Earnings Outlook - EMX's average 20-day trading volume is 387,652 shares, indicating a bullish sign with rising stock prices [8] - In the past two months, one earnings estimate for EMX moved higher, increasing the consensus estimate from $0.02 to $0.04 [10] - For the next fiscal year, one estimate has also moved upwards, with no downward revisions [10] Group 4: Conclusion - Given the strong performance metrics and positive earnings outlook, EMX Royalty Corp. is positioned as a promising investment opportunity [12]

Core Viewpoint - EMX Royalty Corporation has entered into an exploration alliance with Avesoro Morocco LTD to advance its Moroccan exploration portfolio while reducing operational expenses [4][2]. Company Overview - EMX Royalty Corporation is a precious and base metals royalty company, providing investors with discovery, development, and commodity price optionality [13]. - Avesoro Resources Inc. is a privately owned mid-tier gold producer focused on West Africa, committed to sustainable mining practices and recognized for its technical expertise [14]. Strategic Rationale - The sale of EMX's Moroccan business unit exemplifies efficient execution of its Royalty Generation business, allowing for continued upside royalty exposure across a large portfolio of exploration assets [4]. - The exploration alliance aims to leverage Avesoro's operational and exploration experience in western Africa to explore new opportunities in Morocco [1][2]. Financial Terms - Avesoro will fully fund alliance activities with an initial capital pool of at least $1.5 million per year [8]. - EMX has received an execution payment of $650,000 from Avesoro [8]. - Each Designated Project (DP) will have a minimum work commitment of $2.5 million for the first five years, with EMX receiving escalating advance royalty payments starting at $50,000 [16]. Project Overview - EMX has acquired 18 exploration projects in Morocco, covering 860 square kilometers, including gold, copper, and other base metal projects [9]. - Morocco is viewed as an attractive jurisdiction for mineral exploration due to its stable regulatory framework and underexplored geological settings [10]. Alliance Structure - The initial term of the alliance is two years, with the possibility of extension by mutual agreement [3]. - Projects will be designated as Alliance Exploration Projects (AEPs) and can be converted to Designated Projects (DPs) for further advancement [2][3].

Core Viewpoint - Aftermath Silver Ltd. has made a partial payment of US$1.5 million towards the acquisition of the Berenguela silver-copper-manganese project in Peru, ahead of the due date, which has resulted in a reduced balance owed to EMX Royalty Corp. [3][5] Group 1: Financial Transactions - The company has an option to acquire a 100% interest in the Berenguela project through agreements with SSR Mining Inc. and EMX Royalty Corp. [2] - Aftermath Silver's payment obligations total US$13 million, with the remaining payments summarized as follows: US$3 million paid on May 15, 2025; US$1.5 million paid in June 2025; and US$1.65 million due in November 2026 [5][7]. - A sliding-scale NSR royalty will be applied to all mineral production from the project, starting at 1.0% when silver prices are up to US$25 per ounce, and increasing to 1.25% when silver prices exceed US$25 and copper prices are above US$2 per pound [7]. Group 2: Project Development - The company is focusing on the Berenguela project and expects an updated NI43-101 mineral resource estimate to be completed soon [4]. - Recent drilling in the eastern part of Berenguela intersected 153 meters of mineralization, including 1.12% copper, 290 g/t silver, and 7% manganese [4]. Group 3: Company Background - Aftermath Silver is a Canadian junior exploration company focused on silver, aiming to deliver shareholder value through the discovery, acquisition, and development of quality silver projects in stable jurisdictions [9]. - The company has developed a pipeline of projects at various stages of advancement, selected based on growth and development potential [9].

Core Points - EMX Royalty Corporation announced that all proposed resolutions were approved at its Annual General Meeting held on June 2, 2025, in Vancouver, British Columbia [1] - The number of directors was set at six, and all nominated directors were elected to serve a one-year term [1] - Shareholder voting results showed strong support for the resolutions, with 99.14% in favor of setting the number of directors at six and 99.10% in favor of appointing Davidson & Company LLP as auditors [1][2] Voting Results - Dawson C. Brisco received 99.41% votes in favor, while 0.59% votes were withheld [1] - David M. Cole received 99.55% votes in favor, with 0.45% votes withheld [1] - Sunny S.C. Lowe received 96.88% votes in favor, with 3.12% votes withheld [1] - Henrik K.B. Lundin received 99.34% votes in favor, with 0.66% votes withheld [1] - Geoff G. Smith received 99.52% votes in favor, with 0.48% votes withheld [1] - Michael D. Winn received 99.51% votes in favor, with 0.49% votes withheld [1] Company Overview - EMX is a precious and base metals royalty company that provides investors with discovery, development, and commodity price optionality while limiting exposure to risks associated with operating companies [3] - The company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX" [3]

Core Viewpoint - EMX Royalty Corporation has announced the sale of its Nordic operational platform to First Nordic Metals Corporation, which is expected to streamline operations and reduce costs while maintaining royalty exposure in the region [1][2]. Strategic Rationale and Long-Term Benefits - The transaction aims to streamline EMX's global operations and reduce administrative costs while retaining upside royalty exposure from partner-funded exploration efforts [2]. - EMX has over 15 years of generative exploration experience in the Nordic countries and will retain a broad portfolio of royalties in the region [2]. - Future royalty interests will be granted to EMX on projects generated by FNM for five years, aligning with EMX's strategic objectives [2]. Commercial Terms - EMX will receive staged payments totaling 3.25 million SEK (approximately US$335,000) over two years, with payments made in equal parts of cash and shares of FNM [3]. - EMX will also receive a 1% net smelter return (NSR) royalty on any new projects generated in Sweden and Finland over the next five years [3]. Company Background - EMX is a precious and base metals royalty company, providing investors with discovery, development, and commodity price optionality while limiting exposure to operational risks [5]. - First Nordic Metals Corp. is a Canadian-based gold exploration company with assets in Sweden and Finland, including the Barsele gold project and the Oijärvi greenstone belt [6].