Core Viewpoint - Elemental Altus and EMX Royalty Corporation are merging to form a new mid-tier gold-focused royalty company named Elemental Royalty Corp, with a projected revenue of approximately US$80 million in 2026 [1][3]. Transaction Overview - The merger involves Elemental Altus acquiring all outstanding shares of EMX through a court-approved plan of arrangement [1]. - Tether Investments has agreed to purchase approximately 75 million Elemental Altus Shares for gross proceeds of US$100 million, supporting the transaction [2]. Financial Projections - The merged entity is expected to generate combined revenue of US$70 million in 2025 and US$80 million in 2026, with a commodity split of 67% precious metals and 33% base metals [6][3]. - The implied market capitalization of the merged company is estimated at US$933 million [11]. Strategic Rationale - The merger creates a peer-leading revenue-generating royalty company with a diversified portfolio of 16 producing royalties and 200 total royalties [6]. - The combined company will have a stronger asset portfolio anchored by four cornerstone royalties with world-class operators [6]. Management and Governance - The Board of Directors will consist of three representatives from Elemental Altus and two from EMX, with Juan Sartori as Executive Chairman and David Cole as CEO [19]. - The merger is supported by significant shareholder backing, with certain EMX shareholders holding approximately 23% of the outstanding shares entering into voting support agreements [18]. Future Growth Potential - The merged company aims to leverage its combined management expertise to pursue further accretive royalty opportunities in the market [10]. - The transaction is expected to enhance trading liquidity and capital markets exposure, facilitating access to new investors [10]. Shareholder Considerations - EMX shareholders will receive either 0.2822 or 2.822 Elemental Altus Shares for each EMX Share held, depending on the timing of a share consolidation [11][14]. - The transaction offers a premium of 9.8% based on closing prices and 21.5% based on the 20-day volume-weighted average price [15]. Regulatory and Approval Process - The transaction requires approval from at least 66 2/3% of EMX shareholders and is subject to various regulatory and court approvals [16][20]. - The completion of the transaction is expected in the fourth quarter of 2025, pending necessary approvals [31].

Core Points - Silver Crown Royalties Inc. has signed a Letter of Intent with Kuya Silver Corp. to acquire a 4.5% royalty on silver produced from the Bethania Silver Mine in Peru [1][3] - The Bethania Silver Mine resumed production in May 2024 and was previously operational until 2016 [2] - The acquisition will involve a payment of US$3,000,000 in cash and US$2,000,000 in Silver Crown units, with each unit priced at C$6.50 [3] - Silver Crown will receive varying amounts of silver over time, starting with 4,500 ounces per quarter for the first year, increasing to 12,375 ounces per quarter for the subsequent years, before reducing to 1% royalty after 475,000 ounces [4] - The partnership is expected to significantly increase Silver Crown's annual silver revenue from 78,000 to over 128,000 ounces [5] Company Overview - Silver Crown Royalties Inc. is a publicly traded silver royalty company with four silver royalties, three of which are revenue-generating [5] - The company's business model provides investors with exposure to precious metals while minimizing the impact of cost inflation associated with production [5]

Group 1: Acquisition Overview - Franco-Nevada Corporation (FNV) has announced the acquisition of a royalty package on the Côté Gold Mine in Ontario for $1.05 billion in cash, enhancing its portfolio and generating immediate gold revenues from a significant new mine [1][7] - The Côté Gold Mine is a joint venture between IAMGOLD Corporation (IAG) and Sumitomo Metal Mining Co. Ltd., with IAG holding a 70% stake and Sumitomo holding 30% [2] - The mine contains 16 million ounces of Measured and Indicated Mineral Resources and 4 million ounces of Inferred Mineral Resources [2] Group 2: Royalty Details - The royalty package includes a 7.5% gross margin royalty applicable to 100% of mineral production from the Chester claims, covering all Mineral Reserves and over 99.9% of current Mineral Resources at the mine [4] - Existing royalty arrangements will be replaced with a new agreement that clarifies audit and information rights, while the payment calculation methodology will remain unchanged [5] Group 3: Financial Projections - Franco-Nevada is expected to generate annual revenues of $67 million at a gold price of $3,200 per ounce from this acquisition [7] - The mine is projected to reach its nameplate capacity of 13 million tonnes per annum (Mtpa) by year-end, with potential increases to 20 Mtpa [9] Group 4: Operational Efficiency - The Côté Gold Mine utilizes modern design and technology, including autonomous equipment and efficient milling, which are expected to keep production costs low [8] - The mine's cash costs are anticipated to decrease as production volume increases and operational processes improve [8] Group 5: Market Performance - Franco-Nevada's shares have increased by 39.8% over the past year, compared to the industry's growth of 43.4% [10]