Core Viewpoint - Metalla Royalty & Streaming Ltd. is entering a significant growth phase, supported by a robust royalty portfolio and favorable macroeconomic conditions, particularly in gold and copper demand [2][3]. Company Overview - Metalla aims to provide shareholders with leveraged exposure to precious and strategic metals through the acquisition of royalties and streams, focusing on increasing share value via a diversified portfolio [4]. Asset Handbook Highlights - The 2025 Asset Handbook details Metalla's high-quality gold, silver, and copper royalty portfolio, showcasing 100 royalties primarily in top mining jurisdictions, managed by major mining companies [3]. Growth Potential - The company anticipates that its operating partners will continue to add value through exploration and development, unlocking significant potential via new discoveries and resource additions without incurring additional costs [3][2].

Core Viewpoint - Metalla Royalty & Streaming Ltd. has secured a $40 million revolving credit facility with Bank of Montreal and National Bank Financial, enhancing its financial flexibility and reducing capital costs without equity dilution [1][2][3] Group 1: Credit Facility Details - The revolving credit facility allows Metalla to borrow up to $40 million, with an accordion feature for an additional $35 million, subject to certain conditions [1][3] - The facility has an initial term of 3 years, extendable annually by mutual agreement [6] - The company has drawn down $13.1 million from the facility to fully repay its existing C$50 million convertible loan facility with Beedie Investments [4][5] Group 2: Financial Implications - The new facility is expected to lower the company's cost of capital and provide the balance sheet strength to pursue larger, accretive transactions [2][6] - Interest rates for the facility will vary based on the type of advances, with USD Base Rate Advances and Term Benchmark Advances linked to the Secured Overnight Financing Rate (SOFR) plus a margin [6] - The undrawn portion of the facility incurs a standby fee ranging from 0.56% to 0.79% per annum, depending on the company's leverage ratio [6] Group 3: Company Background - Metalla focuses on acquiring royalties and streams in the gold, silver, and copper sectors, aiming to increase shareholder value through a diversified portfolio [7] - The company is positioned to become a leading emerging mid-tier royalty and streaming company, supported by a strong asset base and experienced management [2][7]

Core Insights - Metalla Royalty & Streaming Ltd. reported its operating and financial results for Q1 2025, highlighting progress in its royalty portfolio and various asset updates [1][2]. Company Highlights - The company recognized revenue from royalty and stream interests of $1.7 million, with a net loss of $0.7 million and Adjusted EBITDA of $0.9 million for the three months ended March 31, 2025 [5]. - Metalla accrued a total of 628 attributable Gold Equivalent Ounces (GEOs) during the quarter, with an average realized price of $2,855 per GEO and an average cash cost of $11 per GEO [5][54][55]. Asset Updates - **Tocantinzinho**: G Mining Ventures reported Q1 2025 gold production of 36 Koz, with production guidance reaffirmed at 175 to 200 Koz for the year [3][4]. - **Wharf**: Coeur Mining reported Q1 production of 20.5 Koz gold, with full-year guidance maintained at 90-100 Koz [7][8]. - **Aranzazu**: Aura Minerals confirmed a 10-year mine life and projected average annual production of 28.1 million pounds of copper, 25.2 Koz of gold, and 652 Koz of silver [10][11]. - **La Guitarra**: Sierra Madre commenced underground mining at the Coloso mine, which has higher grades than the initial mining front [13][15]. - **Endeavor**: Polymetals reported that redevelopment activities are on schedule, with first ore processing expected in May 2025 [19][20]. - **Côté-Gosselin**: IAMGOLD completed 12,000 meters of drilling at the Gosselin deposit, with plans for further drilling in 2025 [21][22]. Financial Performance - The company generated an operating cash margin of $2,844 per attributable GEO from various royalty interests [5]. - Adjusted working capital as of March 31, 2025, was reported at $11.768 million, reflecting a strong liquidity position [59]. Future Outlook - Metalla's diversified portfolio and ongoing exploration and development activities across its assets position the company for potential growth in the upcoming commodities cycle [50].

Core Viewpoint - Metalla Royalty & Streaming Ltd. reported positive operational and financial results for the year ended December 31, 2024, with expectations for continued growth in 2025 driven by new production milestones and cash flow generation from various projects [3][4][5]. Company Highlights - For the year ended December 31, 2024, Metalla received or accrued payments on 2,481 attributable Gold Equivalent Ounces (GEOs) at an average realized price of $2,411 and an average cash cost of $19 per attributable GEO [4][49]. - The company recognized revenue from royalty and stream interests of $5.9 million, with a net loss of $5.5 million and Adjusted EBITDA of $1.4 million for the same period [4][54]. - Operating cash margin was reported at $2,401 per attributable GEO from various royalty interests [4][54]. Outlook - In 2025, Metalla expects to receive or accrue payments on 3,500 to 4,500 attributable GEOs, with primary cash flow sources anticipated from Tocantinzinho, Wharf, Endeavor, Aranzazu, La Encantada, and La Guitarra [5][6]. Asset Updates - **Tocantinzinho**: As of year-end 2024, Proven Mineral Reserves totaled 1.06 million ounces at 1.23 g/t gold, with plans for near-mine exploration budgeted at $2 million for 2025 [7][8]. - **Wharf**: Coeur Mining reported production guidance for 2025 at Wharf of 90,000 to 100,000 ounces of gold, with exploration investment expected to be $7-10 million [11][12][13]. - **Aranzazu**: Aura Minerals announced fourth quarter 2024 production at Aranzazu totaled 23.4 K GEOs, with 2025 production guidance between 88,000 to 97,000 GEOs [14][15][16]. - **La Guitarra**: Sierra Madre announced full commercial production commenced on January 1, 2025, with Metalla accruing 25 GEOs for Q4 2024 [17]. - **Endeavor**: Polymetals Resources announced plans to commence production in Q2 2025, with Metalla holding a 4.0% NSR royalty on lead, zinc, and silver produced [20][21]. - **Côté-Gosselin**: IAMGOLD plans to spend approximately $18.6 million on exploration in 2025, including 45,000 meters of drilling [22][23][24]. - **Copper World**: Hudbay received the final major permit for the project, with a definitive feasibility study expected to be completed in the first half of 2026 [29][30]. Financial Information - Adjusted working capital as of December 31, 2024, was reported at $11.8 million, reflecting the exclusion of the Convertible Loan Facility [56].

Core Points - Beedie Capital has increased its equity position in Metalla by converting C$1.5 million of accrued interest into 412,088 common shares at a conversion price of C$3.64 per share, resulting in Beedie owning approximately 10.3% of the company [1] - Metalla made a payment of C$2.0 million to Beedie to reduce all unpaid fees and interest under the loan facility to zero, leaving C$16.4 million outstanding under the loan facility with a conversion price of C$6.00 per share [2] - Metalla completed its 2024 annual equity grant, issuing 525,788 restricted share units and 955,000 stock options to directors, officers, and employees, with options exercisable at C$4.41 for five years [3] Company Overview - Metalla is a royalty and streaming company focused on gold, silver, and copper, with a strong growth profile and operations in North America, South America, and Australia [4]

Core Insights - Metalla Royalty & Streaming Ltd. has reported significant developments in its royalty portfolio, highlighting the potential for increased production and cash flow from various mining projects [1][19]. Group 1: Wharf Mine Developments - Metalla holds a 1.0% Gross Value Return royalty on Coeur Mining's Wharf Mine in South Dakota [2]. - Coeur Mining announced a substantial increase in Mineral Resources due to optimization initiatives, with Proven and Probable Reserves totaling 757 Koz at 0.81 g/t gold, and Measured and Indicated Resources totaling 1,020 Koz at 0.53 g/t gold [3]. Group 2: Endeavor Project Updates - Metalla holds a 4.0% Net Smelter Return royalty on Polymetals Resources' Endeavor project in Australia [5]. - Polymetals announced a A$35 million equity capital raise to strengthen its balance sheet as it transitions towards first production in Q2 2025, with a pro forma cash position of approximately A$37 million [6][7]. Group 3: Taca Taca Project Progress - Metalla holds a 0.42% NSR royalty on First Quantum's Taca Taca project in Argentina [8]. - First Quantum reported that key ESIA milestones were met, and an updated NI 43-101 Technical Report is in progress ahead of the expected application for the RIGI incentive regime [9]. Group 4: Wasamac Mine Developments - Metalla holds a 1.5% NSR royalty on Agnico Eagle Mines' Wasamac Mine in Canada [10]. - Agnico reported an initial declaration of Proven and Probable Mineral Reserves of 1.38 Moz at 2.9 g/t gold, with plans to spend $2.3 million for drilling and $6.8 million for further technical evaluation in 2025 [11][12]. Group 5: Hoyle Pond Acquisition - Metalla holds a 2.0% NSR royalty on Discovery Silver's planned acquisition of the Hoyle Pond mine [13]. - Discovery Silver outlined opportunities to grow production and extend mine life through improved systems and increased automation [14][15]. Group 6: Amalgamated Kirkland Project - Metalla holds a 0.45% NSR royalty on Agnico's Amalgamated Kirkland project [16]. - Agnico announced that production from the AK deposit is forecasted to be approximately 10 Koz gold in 2025, and 50-60 Koz gold in 2026 and 2027 [16].

Core Viewpoint - Metalla Royalty & Streaming Ltd. has reported significant developments in its royalty portfolio, highlighting production milestones and project advancements from its partners, G Mining and Hudbay Minerals, among others [1][5]. Group 1: Tocantinzinho Project - Metalla holds a 0.75% Gross Value Return (GVR) royalty on G Mining's Tocantinzinho project in Brazil [1]. - G Mining produced 40 Koz of gold in Q4 2024, totaling 64 Koz for the year, with the plant achieving over 100% of nameplate capacity and recoveries of 89.2% [2]. - G Mining plans to ramp up production and confirm exploration plans for nearby targets in 2025 [2][3]. Group 2: Copper World Project - Metalla holds a 0.315% Net Smelter Return (NSR) royalty on Hudbay's Copper World project in Arizona, expected to produce 85 Kt of copper annually over a 20-year mine life [5]. - Hudbay received the final air quality permit for Copper World, allowing development to proceed, with a definitive feasibility study expected to be completed in H1 2026 [6][8]. - The project is anticipated to increase Hudbay's annual copper production by over 50% and contribute to the U.S. supply chain [8]. Group 3: Côté / Gosselin Project - Metalla holds a 1.35% NSR royalty on IAMGOLD's Gosselin project and the northern portion of the Côté mine in Canada [9]. - IAMGOLD plans to spend approximately $18.6 million on exploration in 2025, focusing on resource conversion and testing mineralization [10]. - The combined resource base of the Côté and Gosselin zones is over 16.5 million ounces of measured and indicated resources and 4.2 million ounces of inferred resources [10]. Group 4: La Guitarra Project - Metalla holds a 2.0% NSR royalty on Sierra Madre's La Guitarra project in Mexico [11]. - Sierra Madre announced full commercial production at La Guitarra effective January 1, 2025, with operations running at a capacity of 500 tonnes per day [11]. Group 5: Tower Mountain Project - Metalla holds a 2.0% NSR royalty on Thunder Gold's Tower Mountain project in Canada [13]. - Thunder Gold reported drill results with significant gold intercepts, including 1.93 g/t over 54.2 meters [13]. Group 6: Amalgamated Kirkland Project - Metalla holds a 0.45% NSR royalty on Agnico Eagle's Amalgamated Kirkland project [15]. - Processing of Amalgamated Kirkland ores has been rescheduled to begin in Q4 2025 [16]. Group 7: Convertible Loan Agreement - Beedie Capital will convert C$1.5 million of accrued interest into 412,088 common shares of Metalla at C$3.64 per share, increasing their equity position to approximately 10.3% [17]. - Metalla plans to make a payment of approximately C$2.0 million to reduce outstanding fees and interest to zero by January 31, 2025 [18].

Incident Overview - A Long Island Rail Road (LIRR) train crashed into a vehicle at the Lowell Ave grade crossing in Central Islip around 4:20 a.m. [1] - The incident involved a westbound LIRR Ronkonkoma Branch train and occurred near Lowell and East Suffolk avenues [1] Driver Information - The driver of the vehicle, identified as Jonathan Hernandez-Lima, 27, from Central Islip, was arrested and hospitalized following the incident [2] - Charges against the driver include first-degree reckless endangerment, second-degree criminal mischief, leaving the scene with an injury, leaving the scene of property damage, and driving while intoxicated [2]

Core Viewpoint - Metalla Royalty & Streaming Ltd. (MTA) has received a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, indicating a positive outlook for the company's stock price [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - For Metalla Royalty & Streaming, the expected earnings for the fiscal year ending December 2024 are -$0.07 per share, reflecting a year-over-year change of 36.4% [8]. - Over the past three months, the Zacks Consensus Estimate for the company has increased by 8.3%, indicating a positive trend in earnings expectations [8]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Metalla Royalty & Streaming to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11].

Core Insights - Metalla Royalty & Streaming Ltd. achieved significant milestones in Q3 2024, including receiving its first royalty payments from Tocantinzinho and La Guitarra, with expectations for continued production scaling into 2025 [2][3] Financial Performance - For Q3 2024, Metalla received or accrued payments on 648 attributable Gold Equivalent Ounces (GEOs) at an average realized price of $2,481 and an average cash cost of $9 per attributable GEO [3][49] - The company recognized revenue from royalty and stream interests of $1.6 million, with a net loss of $1.2 million and Adjusted EBITDA of $0.9 million for the same period [3][52] - For the nine months ended September 30, 2024, Metalla accrued payments on 1,673 attributable GEOs at an average realized price of $2,292 and an average cash cost of $11 per attributable GEO, resulting in total revenue of $3.8 million and a net loss of $4.4 million [3][49] Asset Updates - Tocantinzinho achieved commercial production with a mill operating at 76% of nameplate throughput, processing 304 kilotonnes of ore at a recovery rate of 88% [5][6] - Metalla accrued 67 GEOs from Tocantinzinho and holds a 0.75% GVR royalty on the project [6] - Wharf reported production of 33.7 Koz gold in Q3 2024, with Metalla accruing 268 GEOs from the mine, where it holds a 1.0% GVR royalty [7][8] - Aranzazu produced 24,486 GEOs in Q3 2024, with Metalla accruing 196 GEOs from the mine, holding a 1.0% NSR royalty [9][11] - La Guitarra achieved daily throughput rates averaging 350 tpd, generating over $2.4 million in revenue since mining commenced, with Metalla accruing 20 GEOs [14][15] Strategic Developments - The company adopted a minimum share ownership policy for directors and officers to align their financial interests with shareholders [4] - Metalla appointed Jason Cho as President, who made a C$1.0 million equity investment in the company [3] Future Outlook - Metalla anticipates production from Amalgamated Kirkland and Endeavor to begin in Q4 2024 and H1 2025, respectively, which is expected to accelerate the company's GEO growth trajectory [2]