Elemental Royalty Corporation is expanding its royalty portfolio through acquisitions, mine development and production growth at existing assets.
The company holds more than 200 royalties, including 18 producing assets and 28 advanced development projects. Its portfolio covers North America, South America, Australia, Europe and Africa. Precious metals generated 63 per cent of first-quarter 2026 revenue, with copper and other base metals adding further exposure.
Elemental reported US$49.2 million in revenue for 2025 and sold 14,285 gold equivalent ounces. For 2026, it expects to sell between 17,000 and 21,000 gold equivalent ounces and generate revenue of between US$76.5 million and US$94.5 million. These forecasts depend on commodity prices and the operating performance of third-party mine owners.
The company’s current revenue base is led by royalties over Caserones, Karlawinda and Timok.
At Caserones in Chile, Elemental holds an uncapped 1.3036 per cent net smelter return royalty. The mine produced 133,000 tonnes of copper in 2025. Lundin Mining plans almost 40,000 metres of drilling in 2026, focused on extensions to the main deposit and the Angelica area.
At Karlawinda in Western Australia, Elemental holds an uncapped 2 per cent net smelter return royalty. A mill expansion is under construction and is expected to lift annual gold production to about 150,000 ounces from mid-2026. Resource drilling is also under way. Higher production would increase royalty revenue without Elemental funding mine construction or operating costs.
At Timok in Serbia, Elemental owns an uncapped 0.3625 per cent net smelter return royalty over a copper-gold mine operated by Zijin Mining. The Upper Zone processing plant has been expanded from 12,000 tonnes per day to 15,000 tonnes per day. A feasibility study for the Lower Zone has been completed and permitting is under way. The mine has a stated life of more than 40 years, giving Elemental long-term exposure to the asset.
Elemental Royalty Corporation (NASDAQ:ELE, TSX:ELE) is a globally diverse, gold-focused portfolio featuring world-class royalties contributing to peer-leading revenue and strong growth.
