What Triple Flag Precious Metals does

Triple Flag Precious Metals Corp. is a Toronto-headquartered precious metals streaming and royalty company founded in 2016 and publicly listed on the TSX and NYSE under the ticker TFPM (IPO May 26, 2021). The company provides non-dilutive financing solutions to mining operators, funding development, expansion, and acquisitions in exchange for either streaming agreements (rights to purchase a percentage of gold/silver production at a fixed percentage of spot price, typically 5-10%) or net smelter return (NSR) / gross revenue (GR) royalties (typically 1.5%-3.25%) on mine production. As of the most recent disclosures, Triple Flag holds a portfolio of 242 assets (17 streams and 225 royalties) across 7 countries, with 36 producing mines and 206 development or exploration-stage projects.

The portfolio is anchored by producing assets including Northparkes (gold/silver stream with Evolution Mining, Australia), Cerro Lindo (silver stream with Nexa Resources, Peru), Fosterville (NSR royalty with Agnico Eagle, Australia), Buriticá (silver stream with Zijin Gold, Colombia), Impala Bafokeng (gold stream with Implats, South Africa), Young-Davidson (royalty with Alamos Gold, Canada), and the recently acquired Ravenswood gold stream in Queensland (US$440M transaction closed June 2026). Development-stage assets include the Gunnison copper project (Arizona) and Kemess silver project (British Columbia). The capital base is supported by a US$1 billion revolving credit facility (expanded May 2026), and the company maintains a lean operating model of 11-50 employees with specialist in-house technical teams in geology, mining engineering, legal, and corporate development.

Triple Flag generates usage-based revenue from ongoing deliveries and royalty payments over the life of mines, recording $388.7M in revenue and $240M in net earnings in 2025 (a sharp turnaround from a $23.1M net loss in 2024), with 113,237 GEOs sold marking the ninth consecutive year of growth. The company has executed two transformational acquisitions (Maverix Metals for US$606M in 2023; Orogen Royalties for ~US$421M proposed in 2025) and continues to pursue development funding transactions (e.g., the US$84.3M Northparkes E44 funding commitment in February 2026). With a market capitalization of approximately US$6.98 billion as of April 2026, Triple Flag operates as a mid-cap, growth-oriented streaming and royalty vehicle differentiated by technical due diligence depth, management pedigree from major mining and finance institutions, and global asset diversification.

Name

Triple Flag Precious Metals

Legal name

Triple Flag Precious Metals Corp.

Website

https://tripleflagpm.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Triple Flag Precious Metals Corp. is a Toronto-based precious metals streaming and royalty company that provides non-dilutive financing to mining operators in exchange for streaming agreements and NSR/GR royalties. The company holds 242 assets across 7 countries, serving major gold, silver, and copper miners globally.

Ownership category

akta.pro rank

Product category

Mining Royalty and Streaming Financing

SIC

Mineral Royalty Traders (6795)

akta.pro primary industry

Precious Metals Streaming, Royalties & Offtake (IMAKAEAF)

Keywords

• Precious metals streaming
• Mining royalty financing
• Gold stream agreements
• Silver stream financing
• Mining sector capital

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Others, Marketing or Sales

Revenue model

1. Streaming and Royalty Payments: Triple Flag generates revenue by providing upfront financing to mining operators in exchange for rights to purchase precious metals at discounted prices (ongoing payments typically 10-20% of spot prices) or receive royalty payments based on production. The company purchases a percentage of gold and silver production from mining operations, generating recurring revenue over the life of mines.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Triple Flag Precious Metals is a streaming and royalty company that provides upfront financing to mining operators in exchange for the right to purchase a percentage of precious metals production at below-market prices (ongoing payments typically 5-25% of spot prices) or to receive royalty payments based on mine production. The company generates recurring revenue over the life of mine assets through a portfolio of 242 streaming and royalty agreements spanning 7 countries.

Product overview

Triple Flag Precious Metals Corp. is a precious metals focused royalty and streaming company offering financing solutions to the mining industry. The company's core offerings consist of gold and silver streaming agreements (providing upfront capital in exchange for rights to purchase production at below-market prices) and NSR/GR royalty agreements (revenue-based returns on mine production). The portfolio spans 242 assets including 17 streams and 225 royalties, with 36 producing assets and 206 development/exploration stage projects across the Americas and Australia. Key producing assets include Northparkes (gold/silver stream, Australia), Cerro Lindo (silver stream, Peru), Fosterville (royalty, Australia), Buriticá (silver stream, Colombia), Impala Bafokeng (gold stream, South Africa), and Ravenswood (gold stream, Australia). Development-stage assets include the Gunnison copper project and Kemess silver project.

Differentiator

Problem solved

Functional benefit

Products and services

• Gold and Silver Streaming Agreements
• Royalty Agreements
• Northparkes Stream
• Cerro Lindo Stream

Quantifiable outcome

• Record revenue of $388.7 million in 2025, up significantly year-over-year
• +3 more outcomes

Named customers10 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Ravenswood GoldcoreStrategic or Co-development Partner · 25 June 2026Triple Flag completed its US$440 million gold stream acquisition on the producing Ravenswood Gold Mine in Queensland, Australia. First deliveries expected to commence in Q3 2026. Stream grants rights to purchase 5.50% of payable gold initially, decreasing to 3.75% after 194,200 ounces and 2.50% after 253,000 ounces.
• Steppe Gold Ltd.coreStrategic or Co-development Partner · 11 June 2026Settlement agreement resolving outstanding delivery obligations under their streaming arrangement. Steppe delivered 4,096 ounces of gold and 15,618 ounces of silver in arrears. Amended agreement provides for fixed cumulative deliveries of 34,770 ounces of gold over ten years starting Q3 2026, followed by 1.5% of prior quarter gold production from the ATO mine.
• Evolution Mining LimitedcoreStrategic or Co-development Partner · 10 February 2026Triple Flag agreed to fund US$84.3 million in Q4 2026 for development of the gold-dominant E44 open pit deposit at Northparkes in Australia. Evolution committed to guaranteed minimum deliveries of 45,052 ounces of gold and 446,200 ounces of silver from 2030 to 2037. Triple Flag retains rights to purchase 20% of payable gold and 30% of payable silver at 10% of spot prices.
• World Gold CouncilminorOthersCEO Sheldon Vanderkooy serves as a director of the World Gold Council, providing industry engagement and representation.
• Various Mining OperatorscoreStrategic or Co-development PartnerLong-term streaming and royalty partnerships with mining operators including Alamos Gold (Young-Davidson), Agnico Eagle (Fosterville, Hope Bay), Orla Mining (Camino Rojo), Nexa Resources (Cerro Lindo), Zijin (Buriticá), Impala Platinum (Bafokeng), Westgold (Beta Hunt), and others across 242 assets.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Vox Royalty Corp. Vox is a precious metals royalty company that acquires and aggregates royalties. While smaller and royalty-focused rather than streaming-focused, it operates in the same mining finance niche and competes for similar royalty assets.
• Sandstorm Gold Royalties Ltd. Sandstorm is a gold royalty and streaming company with a global portfolio of streams and royalties. It is a direct competitor to Triple Flag for streaming and royalty acquisitions, particularly in the Americas and Africa.
• EMX Royalty Corporation: EMX Royalty generates royalties from a global portfolio including precious metals. It is comparable in business model to Triple Flag's royalty business (though with broader commodity coverage) and competes for similar mining finance opportunities.
• Metalla Royalty & Streaming Ltd. Metalla is a smaller royalty and streaming company focused on precious metals. Although smaller in scale, it competes with Triple Flag on individual royalty and stream acquisitions and shares the same core business model.
• Franco-Nevada Corporation: Franco-Nevada is the largest gold-focused royalty and streaming company globally, with a diversified portfolio of streams, royalties, and oil & gas interests. It competes with Triple Flag directly for mining finance deals and is the closest comparable in business model.
• Osisko Gold Royalties Ltd: Osisko is a Canadian royalty and streaming company with interests in gold, silver, and other commodities, plus a controlling stake in Osisko Mining. It is a direct peer in the precious metals streaming/royalty space and competes with Triple Flag for similar transactions.
• Royal Gold, Inc. Royal Gold is a US-listed precious metals royalty and streaming company with a portfolio of streams, royalties, and similar interests. It competes with Triple Flag for streaming/royalty transactions and shares the same underlying business model.
• Wheaton Precious Metals Corp. Wheaton is a senior precious metals streaming company with long-term agreements on producing mines (Salobo, Antamina, Constancia, etc.). It is a direct competitor to Triple Flag in upfront streaming financing of gold and silver production.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/TripleFlagPM
• YouTubeyoutube.com/@tripleflagpreciousmetals5448
• LinkedInlinkedin.com/company/triple-flag-precious-metals

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Triple Flag Precious Metals