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].