Core Viewpoint - Silver Crown Royalties Inc. successfully closed an oversubscribed financing of $3.3 million, indicating strong investor demand and allowing the company to increase the offering size [1][2]. Financing Details - A total of 599,064 Units were sold at a price of $5.50 per Unit, resulting in aggregate gross proceeds of $3,294,852 [1]. - The offering was led by Centurion One Capital Corp. as the lead agent and sole bookrunner [1]. Use of Proceeds - The net proceeds from the offering will be utilized to finalize remaining royalty transactions and to expand SCRi's silver royalty portfolio by funding precious metal mining opportunities and processing facilities [4]. - Funds will also support the acquisition of new royalty opportunities, due diligence efforts, and administrative expenses to enhance growth and shareholder value in a strong silver market [4]. Securities Issuance - Each Unit consists of one common share and one common share purchase warrant, with each warrant allowing the holder to acquire one common share at a price of $8.25 for a period of 36 months from the closing date [2]. - The securities issued are not subject to a hold period under applicable Canadian securities laws [3]. Broker Compensation - In connection with the offering, the company paid a cash commission of $263,588.16 and issued 47,925 broker warrants, each entitling the holder to acquire a Unit at the issue price for three years from the closing date [5].

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].

Group 1 - Vox Royalty (NASDAQ: VOXR) is identified as a small-cap precious-metals royalty company with shares trading at approximately $3.13 and a market capitalization of around $162 million, which is perceived to be undervalued relative to its growth prospects [1] - The company has a diversified portfolio consisting of over 60 royalties, indicating a broad exposure to the precious metals sector [1] - The management team is described as shareholder-aligned, suggesting a focus on maximizing shareholder value [1]

Core Viewpoint - Vizsla Royalties Corp. congratulates Vizsla Silver Corp. on its US$100 million bought deal financing, which is crucial for advancing the Panuco Project towards production and cash flow [1][2]. Financing Details - The financing will provide the necessary capital to advance the Panuco Project through final feasibility and into development, positioning Vizsla Silver for initial production [2]. - Vizsla Royalties, as the sole royalty holder on the Panuco Project, views this financing as a significant milestone that strengthens Vizsla Silver's balance sheet and enhances its ability to execute key de-risking activities [2][3]. Project Development - Vizsla Silver is focused on developing a fully permitted and fully funded test mine, with the Feasibility Study expected to be completed in the second half of 2025 [3]. - The CEO of Vizsla Royalties stated that the financing validates the strength of the Panuco Project and supports continued momentum toward production [3]. Marketing Agreement - Vizsla Royalties has entered into a digital marketing services agreement with Machai Capital Inc. for a comprehensive digital media marketing campaign, with a total compensation of C$303,000 for a 3-month term [4][5]. - The campaign will include branding, content creation, data optimization, and various digital marketing strategies [5][6]. Company Overview - Vizsla Royalties Corp. is a precious metals-focused royalty company, primarily holding a Net Smelter Return Royalty on Vizsla Silver's Panuco Project in Mexico [7]. - The Panuco Project is highlighted for its potential with an estimated annual production of 15.2 million ounces of silver equivalent over an initial mine life of 10.6 years, an after-tax NPV5% of US$1.1 billion, and an 86% IRR [7].

Core Insights - Star Royalties Ltd. has provided an update on Green Star Royalties Ltd.'s royalty portfolio and corporate strategy, highlighting the challenges faced in the carbon markets and the decision to terminate future capital commitments to the CarbonNOW program [1][3][4]. Carbon Markets Update - North American carbon markets are experiencing significant headwinds, leading to reduced carbon credit pricing and demand due to factors such as the U.S. withdrawal from the Paris Agreement and economic uncertainties [2]. - A key carbon credit offtaker has announced solvency issues, further impacting market conditions [2]. Green Star's Strategic Decisions - Green Star's management has reassessed the economic feasibility of its assets, resulting in the termination of commitments to the CarbonNOW program due to elevated risks and a deteriorating return profile [3][6]. - The decision was unanimously supported by joint-venture partners, with a focus on reallocating capital to high-quality, cash-flowing royalties in decarbonization projects [4][6]. Portfolio Updates - Green Star has acquired gross revenue royalties from NativState LLC on Improved Forest Management projects, actively engaging with brokers to monetize carbon offsets [8][10]. - The company is exploring various monetization strategies, including long-term offtakes and direct sales [10]. Project Highlights - Project ACR 912 and Project ACR 913 involve sustainably managed forestland in Arkansas, with expected carbon offset issuances by the end of 2025 [12][13]. - The Elizabeth Metis Settlement Forest Carbon Project is set to complete baseline inventory measurement by late 2025, with carbon credit issuance anticipated by 2027 [18]. - The Lac Seul First Nation Forest Carbon Project currently lacks a viable path for carbon credit generation, with future updates pending [19]. Corporate Strategy - Star Royalties aims for an 80% focus on precious metals and 20% on green initiatives, including carbon credits and cleantech [20]. - Green Star, 46% owned by Star Royalties, was established to provide exposure to carbon markets and ESG themes, with a focus on cash-flowing opportunities [21][22]. - The company remains optimistic about future value creation despite current market challenges, believing in the royalty model's fit for carbon markets [22][23]. Mining Portfolio Outlook - The mining royalty portfolio outlook has improved, with rising gold prices exceeding US$3,300/oz, and the Copperstone Gold Project expected to generate significant cash flows upon resuming production in mid-2026 [23][24]. - The company anticipates several de-risking events and milestones across its mining assets, aiming to close the valuation gap with its market capitalization [27].