Elemental Royalty
Elemental Royalty Corporation is a publicly traded gold-focused streaming and royalty company (NASDAQ/TSX: ELE) that acquires NSR and GSR royalty interests on mines operated by third parties. It serves institutional investors seeking precious-metals exposure without operational risk, anchored by cornerstone royalties on Caserones, Karlawinda, Timok, Laverton, and Leeville.
- Company typePublic
- Founded2025
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Elemental Royalty does
Elemental Royalty Corporation (NASDAQ:ELE, TSX:ELE) is a gold-focused precious-metals streaming and royalty company. Formed in November 2025 through the merger of Elemental Altus Royalties and EMX Royalty Corporation — backed by a US$100 million private placement from Tether Investments, which now holds approximately 51.4% of the company — Elemental holds over 200 royalty interests across producing, development, and exploration-stage assets, with 18 producing royalties and 28 development-stage royalties generating current cash flow and near-term growth exposure. Cornerstone assets include the Caserones copper-molybdenum royalty (Lundin Mining, Chile), Karlawinda gold royalty (Capricorn Metals, Australia), Timok-Cukaru Peki copper-gold royalty (Zijin Mining, Serbia), Laverton gold royalty (Genesis Minerals, Australia), and Leeville royalty on Nevada Gold Mines' Carlin Trend operations.
The company's revenue model is licensing-royalty in nature: it acquires or generates Net Smelter Return (NSR) and Gross Smelter Return (GSR) royalties on third-party-operated mines, receiving a percentage of mineral production revenue without bearing operational costs, capital overruns, or execution risk. Approximately 67% of revenue is derived from precious metals, with the balance from base metals tied to electrification and digitization demand. The portfolio is geographically diversified across Chile, Australia, Serbia, the United States, Mexico, and Peru, and gross margins exceed 85%.
Go-to-market is sales-led and dual-pronged: the company pursues inorganic growth via direct royalty acquisitions and M&A (Vizsla Royalties for C$327M announced May 2026; Laverton for A$80M completed November 2025), and organic royalty generation through its Bronco Creek Exploration subsidiary, which executes early-stage option agreements with operators such as KGHM and First Quantum. Capital is raised through public equity markets (dual-listed on NASDAQ and TSX) and a US$150 million revolving credit facility with a US$50 million accordion. The company declared an inaugural US$0.12 annual dividend in 2026 with a world-first Tether Gold XAUT token payment alternative, and in FY2025 reported revenue of US$49.2 million with US$53 million in cash and no debt.
Elemental Royalty firmographics
Firmographics- Name
- Elemental Royalty
- Legal name
- Elemental Royalty Corporation
- Website
- https://elementalroyalty.com
- Company type
- Public
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Elemental Royalty Corporation is a publicly traded gold-focused streaming and royalty company (NASDAQ/TSX: ELE) that acquires NSR and GSR royalty interests on mines operated by third parties. It serves institutional investors seeking precious-metals exposure without operational risk, anchored by cornerstone royalties on Caserones, Karlawinda, Timok, Laverton, and Leeville.
- Ownership category
- akta.pro rank
Elemental Royalty industry classification
Industry- Product category
- Mining Royalty and Streaming
- NAICS
- Coal and Other Mineral and Ore Merchant Wholesalers (42352)
- SIC
- Mineral Royalty Traders (6795)
- akta.pro primary industry
- Precious Metals Streaming, Royalties & Offtake (IMAKAEAF)
Keywords
Where Elemental Royalty is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Elemental Royalty business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Revenue model
- Royalty Revenue: The company generates recurring revenue through royalty payments from mining operators. Royalties are typically structured as Net Smelter Return (NSR) interests, providing a percentage of mineral production revenue without operational costs or capital expenditures. The royalty model delivers leverage to mining upside while avoiding operating costs, capital overruns, and execution risk.
- Streaming Revenue: The company holds streaming agreements that provide for ongoing revenue from commodity production, typically at below-market prices, creating additional revenue streams alongside traditional royalty interests.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Quarterly dividend of $0.03 per share |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
Elemental Royalty product offering
Product offeringCore offering
Elemental Royalty Corporation provides precious metals royalty and streaming financing to the global mining industry. The company acquires Net Smelter Return (NSR) and Gross Smelter Return (GSR) royalty interests on producing, development, and exploration-stage mining assets operated by third-party mining operators, earning percentage-based claims on mineral production revenue without operating costs or capital expenditures. The company also generates organic royalties through early-stage exploration conducted by its wholly-owned subsidiary Bronco Creek Exploration, and offers shareholders a Dividend Election Alternative enabling dividend payments in Tether Gold XAUT tokens.
Product overview
Elemental Royalty Corporation is a mid-tier, gold-focused streaming and royalty company formed through the merger of Elemental Altus and EMX Royalty Corporation in November 2025. The company operates a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets including Caserones (copper-molybdenum), Karlawinda (gold), Timok-Cukaru Peki (copper-gold), Laverton (gold), and Leeville (gold). The company's business model provides mining companies with capital through royalty and streaming agreements, delivering leverage to mining upside while avoiding operating costs, capital overruns, and execution risk. Elemental's portfolio combines producing royalties generating cash flow today with development-stage royalties driving long-term growth. In 2026, the company expanded its offerings through the Dividend Election Alternative, enabling shareholders to receive dividends in Tether Gold XAUT tokens, and announced the acquisition of Vizsla Royalties to add Panuco silver-gold project royalties.
Differentiator
Problem solved
Functional benefit
Products and services
- Royalty and Streaming Financing Services Capital financing services for mining companies through royalty and streaming agreements, providing immediate cash flow to operators without equity dilution. Offered to mid-tier and major mining operators across producing, development, and exploration-stage assets globally.
- Dividend Election Alternative with Tether Gold XAUT Token Payments A dividend payment product allowing qualifying registered shareholders to elect to receive quarterly dividends in Tether Gold XAUT tokens (digital gold tokens) instead of cash, facilitated through the Bullish digital asset platform and Equiniti transfer agent services.
- Caserones Royalty A 1.304% NSR royalty on the Caserones copper-molybdenum mine in Chile, operated by Lundin Mining. The mine is located in the Atacama region at approximately 4,300m elevation and has been in production since 2014, historically producing 100-120kt of copper concentrate annually.
- Karlawinda Royalty A 2% NSR royalty on the Karlawinda Gold Project in Western Australia's Pilbara region, operated by Capricorn Metals. The project achieved commercial production in Q3 2021 and is undergoing expansion targeting 150,000 ounces of gold per year.
- Timok-Cukaru Peki Royalty A 0.3625% NSR royalty covering the Brestovac and Jasikovo East-Durlan Potok properties within the Timok Project controlled by Zijin Mining in Serbia. The Cukaru Peki deposit comprises high-grade epithermal copper-gold (Upper Zone) and deeper porphyry-style mineralization (Lower Zone).
- Laverton Royalty A 2-4% GRR (Gross Revenue Royalty) on the Laverton Project in Western Australia, operated by Genesis Minerals. The project covers multiple Archaean greenstone belts north-northeast of Kalgoorlie and includes deposits such as Beasley Creek, Lancefield-Wedge Trend, and the historic Underground Lancefield Gold Mine.
- Leeville Royalty A 1% GSR (Gross Smelter Return) royalty on portions of Nevada Gold Mines' Leeville, Turf, and other underground gold mining operations on Nevada's prolific Northern Carlin Trend. The royalty covers the Rita K and Full House exploration projects.
- Panuco Silver-Gold Project Royalties A 2.0%-3.5% NSR royalty on the Panuco silver-gold project in Mexico, covering the Copala and Napoleon deposits. The project is operated by Vizsla Silver and is expected to produce 17.4 Moz AgEq annually over a 9.4-year mine life once production begins.
- Chapi Copper Royalty A 2% NSR royalty on the Chapi Copper Project in southern Peru, operated by Quilla Resources Inc. First copper cathode production was achieved in Q1 2026, with ramp-up toward nameplate capacity of approximately 10,000 tonnes per annum of copper cathode.
Quantifiable outcome
- 128% revenue increase in 2025 to US$49.2 million, exceeding guidance of US$42 million
- +4 more outcomes
Companies that use Elemental Royalty
Customer profileNamed customers8 records
Segments2 records
Ideal customer profiles2 records
Elemental Royalty technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Elemental Royalty partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, supporting and minor.
- Robinson Holdings (USA) Ltd (KGHM)coreElemental's subsidiary Bronco Creek Exploration executed exploration and option agreement with KGHM subsidiary on four porphyry copper projects (Royston, Big E, Tango, Whiskey) in Nevada. KGHM can earn 100% interest by spending US$5 million per project over six years. Elemental retains 2% NSR royalty upon option exercise plus escalating AAR payments and milestone payments.
- Vizsla Royalties CorpcoreElemental announced definitive agreement to acquire Vizsla Royalties for approximately C$327 million (US$239 million). Vizsla Royalties holds 2.0%-3.5% NSR royalties on the Panuco silver-gold project in Mexico, expected to add approximately 7,500 GEOs annually once in production. Transaction expected to close Q3 2026 pending shareholder, court, and regulatory approvals.
- Quilla ResourcessupportingOperator of Chapi Copper Project in southern Peru where Elemental holds 2% NSR royalty. Quilla achieved first copper cathode production in Q1 2026, with ramp-up underway toward 10,000 tonnes per annum nameplate capacity. Elemental expects first royalty payment in Q1 2026.
- Goldsky ResourcesminorGoldsky acquired Elemental's Nordic operational platform for staged payments of approximately US$360,000. Elemental retains existing royalty portfolio and 1% NSR royalty on any new projects generated by Goldsky in Sweden and Finland within five years.
- EquinitisupportingTransfer agent partnership facilitating dividend distributions. Equiniti processes dividend payments alongside Computershare for withholding tax reporting and shareholder record management.
- BullishsupportingDigital asset platform partnership enabling Elemental's world-first Dividend Election Alternative. Qualifying registered shareholders can elect to receive dividends in Tether Gold XAUT tokens instead of cash, with Bullish facilitating wallet services for token delivery.
- First Quantum MineralsminorElemental's subsidiary Bronco Creek Exploration signed option agreement with First Quantum Minerals to explore the Hachita porphyry copper-gold project in New Mexico. Deal involves staged payments over five years, exploration expenditures, and future royalties and milestone payments if project advances.
- ComputersharesupportingTransfer agent (Computershare Trust Company of Canada) providing shareholder services, dividend distribution, and withholding tax administration. Located at 3rd Floor, 510 Burrard Street, Vancouver BC.
- Bennett Jones LLPsupportingLegal counsel to Elemental for the Vizsla Royalties acquisition transaction.
Scale indicators11 records
Recent moves8 records
Expansion highlights6 records
Elemental Royalty competitors and assessment
Company assessmentDirect peers
- Osisko Gold Royalties: Osisko is a mid-tier precious metals royalty company with a portfolio similar in scale and commodity mix to Elemental, including gold and silver royalties. Direct competitor in the royalty acquisition market, particularly for North American gold royalties, with comparable revenue profile and asset count.
- Metalla Royalty & Streaming: Metalla is a precious metals royalty and streaming company with a portfolio of approximately 90 royalties, smaller than Elemental but with a directly comparable acquisition-led growth model. Direct competitor in royalty acquisition market with focus on silver and gold.
- Altius Minerals Corporation: Altius is a diversified mining royalty and streaming company with interests in base metals, precious metals, and renewable energy royalties. Comparable to Elemental in royalty model and commodity exposure, with additional potash and iron ore royalty holdings that Elemental does not match.
- Sandstorm Gold Ltd. Sandstorm is a gold-focused royalty and streaming company with a portfolio of over 200 royalties and streams. Closely comparable mid-tier competitor to Elemental with similar commodity focus and asset count, though with a longer operating history and stronger streaming component.
- Triple Flag Precious Metals: Triple Flag is a precious metals-focused royalty and streaming company with a mid-cap profile similar to Elemental. Direct competitor for streaming transactions with operators, holding interests in assets including Cerro Lindo, RBPlat, and Copper Bay.
- Vox Royalty Corp. Vox is a precious metals royalty company with a portfolio of over 50 royalties, smaller than Elemental but operating with similar model. Comparable as a growth-oriented royalty acquirer competing for similar gold and copper royalty opportunities globally.
Broad incumbents
- Franco-Nevada Corporation: Franco-Nevada is the largest precious metals royalty and streaming company globally with a diversified portfolio across gold, silver, and base metals. Directly comparable to Elemental as a royalty company, but operates at significantly larger scale and broader diversification, serving as the benchmark incumbent in the space.
- Wheaton Precious Metals: Wheaton is a leading precious metals streaming company, providing upfront payments to miners in exchange for future metal deliveries at below-market prices. Directly comparable to Elemental's streaming activities, with a larger portfolio anchored by Salobo, Antamina, and Constancia streams.
- Royal Gold Inc. Royal Gold is a major precious metals royalty and streaming company with significant gold-focused exposure including Mount Milligan, Pueblo Viejo, and Cortez royalties. Comparable business model to Elemental with overlapping operator counterparties (e.g., Barrick), but operating at materially larger scale.
Emerging players
- Maverix Metals Inc. Maverix was a precious metals royalty and streaming company with a portfolio of approximately 100 royalties, providing a smaller-scale template for Elemental's growth trajectory. Was acquired by Triple Flag in 2023, illustrating the consolidation path available to mid-tier royalty companies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Elemental Royalty social profiles
Digital presenceElemental Royalty financial estimates
Financial estimateRevenue estimate
Valuation estimate
Elemental Royalty leadership team
Management profileNumber of profiles
Profiles8 records
Elemental Royalty subsidiaries and ownership
Company hierarchySubsidiaries1 record
Elemental Royalty funding detail
Funding detailFunding overview
Funding rounds8 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Elemental Royalty M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Elemental Royalty
What does Elemental Royalty do?
Elemental Royalty Corporation provides precious metals royalty and streaming financing to the global mining industry. The company acquires Net Smelter Return (NSR) and Gross Smelter Return (GSR) royalty interests on producing, development, and exploration-stage mining assets operated by third-party mining operators, earning percentage-based claims on mineral production revenue without operating costs or capital expenditures. The company also generates organic royalties through early-stage exploration conducted by its wholly-owned subsidiary Bronco Creek Exploration, and offers shareholders a Dividend Election Alternative enabling dividend payments in Tether Gold XAUT tokens.
Is Elemental Royalty a public or private company?
Elemental Royalty is a public company. It is classified as public and is currently operating.
When was Elemental Royalty founded?
Elemental Royalty was founded in 2025. It employs 11 to 50 people.
Where is Elemental Royalty based?
Elemental Royalty is headquartered in Vancouver, Canada, in the North America region.
How does Elemental Royalty make money?
Two revenue lines are on record. Royalty Revenue is the primary driver. The others are streaming Revenue.
Who are Elemental Royalty's main competitors?
Direct peers on record are Osisko Gold Royalties, Metalla Royalty & Streaming, Altius Minerals Corporation, Sandstorm Gold Ltd., Triple Flag Precious Metals and Vox Royalty Corp.. Broad incumbents are Franco-Nevada Corporation, Wheaton Precious Metals and Royal Gold Inc.. Maverix Metals Inc. is listed as an emerging player.
Does Elemental Royalty have an API?
No public API is recorded for Elemental Royalty.
What industry is Elemental Royalty in?
Elemental Royalty's product category is Mining Royalty and Streaming. Its primary akta.pro industry code is IMAKAEAF, Precious Metals Streaming, Royalties & Offtake. Its NAICS code is 42352 and its SIC code is 6795.