Metalla Royalty & Streaming

What Metalla Royalty & Streaming does

Metalla Royalty & Streaming Ltd. is a Vancouver-based, publicly traded (NYSE American and TSX-V: MTA) royalty and streaming company founded in 2016 that acquires passive interests in mining assets to provide investors with leveraged exposure to gold, silver, and copper prices without the operational risks of mine ownership. The company operates a portfolio of approximately 100 royalties and streams across production, development, and exploration stages, focusing on Tier-1 jurisdictions (Canada, USA, Australia) and select Latin American and African assets operated by major counterparties including IAMGOLD/Sumitomo (Côte/Gosselin), Agnico Eagle (Wasamac, Camflo), Hudbay Minerals (Copper World), First Quantum Minerals (Taca Taca), Equinox Gold (Castle Mountain), Coeur Mining (Wharf), and First Majestic Silver (Endeavor). Metalla does not develop proprietary technology; its "product" is the curated royalty portfolio itself, structured primarily as Net Smelter Return (NSR) and Gross Value Royalty (GVR) agreements that grant perpetual, percentage-based claims on operator production or revenue.

Revenue is generated as licensing_royalties payments from operators based on commodity prices and production volumes, with FY2025 marking a record $11.7 million in revenue (a 99% year-over-year increase) and Q1 2026 revenue of $3.1 million (78% growth versus Q1 2025). The capital-light business model, run by 1-10 employees, delivered $4.7 million in adjusted EBITDA and $4.4 million in operating cash flow in 2025. Growth is driven by accretive acquisitions funded through a mix of equity, the recently established $40 million BMO/NBF revolving credit facility (with $35 million accordion), and an active ATM program. Management has guided to 3,500-4,500 attributable gold equivalent ounces (GEOs) for 2025 and projects growth to 23,500 GEOs by 2031, implying a 35%+ CAGR underpinned by both asset ramp-up (Tocantinzinho commercial production in 2024, Côté commercial production in 2024) and continued portfolio expansion.

Name

Metalla Royalty & Streaming

Legal name

Metalla Royalty & Streaming Ltd.

Website

https://metallaroyalty.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Mining Royalties and Streaming

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Mineral Royalty Traders (6795)

akta.pro primary industry

Real Assets — Natural Resources & Minerals (Mining, Royalties/Streaming) (FSAHAIAK)

Keywords

• Mining royalties
• Metal streaming
• Royalty financing
• Precious metals
• Gold silver copper

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Royalty and Streaming Revenue: Metalla generates revenue through royalty and streaming interests in gold, silver, and copper mining operations. The company receives payments based on production or revenue from mining assets it holds royalties and streams on, with revenues driven by commodity prices and production volumes.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Metalla Royalty & Streaming acquires royalty and streaming interests in gold, silver, and copper mining assets in exchange for upfront capital payments to operators. The company holds approximately 100 royalty and stream positions spanning production, development, and exploration stages across Tier-1 mining jurisdictions. Revenue is generated through percentage-based payments tied to commodity production or gross revenue from underlying mining operations.

Product overview

Metalla Royalty & Streaming is a royalty and streaming company that offers investors leveraged exposure to gold, silver, and copper through acquiring royalties and streams on mining assets. The company operates a portfolio of approximately 100 royalties across production, development, and exploration stages, focusing on Tier-1 assets in established mining jurisdictions operated by major mining companies. Key assets include Cote and Gosselin (IAMGOLD/Sumitomo), Taca Taca (First Quantum Minerals), Castle Mountain (Equinox Gold), Tocantinzinho (G Mining), Copper World (Hudbay Minerals), Wharf (Coeur Mining), Aranzazu (Aura Minerals), Vizcachitas (Los Andes Copper), Wasamac (Agnico Eagle), and Camflo Mine (Agnico Eagle/Yamana Gold). The company generates revenue through NSR (Net Smelter Return) royalties and GVR (Gross Value Royalty) structures, providing perpetual royalty interests on long-life mining operations without operational involvement.

Differentiator

Problem solved

Functional benefit

Products and services

• Gold Royalties and Streams Royalty and streaming interests on gold production assets providing investors with leveraged exposure to gold prices without operational risks. The portfolio includes interests across production, development, and exploration stage gold mines operated by major mining companies.
• Silver Royalties and Streams Royalty and streaming interests on silver production assets providing exposure to silver prices through interests in producing and development-stage silver mines, including the Endeavor mine operated by First Majestic Silver.
• Copper Royalties and Streams

Quantifiable outcome

• 99% revenue increase year-over-year to $11.7M in 2025
• +2 more outcomes

Named customers9 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

One partnership is on record.

• Mitsubishi CorporationnotableStrategic or Co-development Partner · 21 January 2025Mitsubishi Corporation made a $600 million strategic investment in Hudbay's Copper World project, a key asset in Metalla's royalty portfolio. This investment supports the development of Copper World where Metalla holds a 0.315% NSR royalty.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Royal Gold, Inc. Major precious and base metals royalty company with interests on producing mines including Mount Milligan, Peñasquito, and Pueblo Viejo. Operates the same royalty/streaming model as Metalla with a deeper producing-asset base.
• Wheaton Precious Metals Corp. One of the largest precious metals streaming companies globally, with long-term streaming agreements on producing and development-stage mines. Closest pure-play streaming comparable to Metalla's streaming/royalty mix and the model Metalla explicitly emulates as an emerging intermediate.
• Franco-Nevada Corporation: World's largest precious metals royalty and streaming company with a diversified gold, silver, copper, and energy royalty portfolio. Directly comparable business model to Metalla, but at vastly greater scale, broader commodity exposure, and a 20+ year operating track record — the benchmark for the entire royalty subsector.

Direct peers

• Vox Royalty Corp. Small-cap diversified precious metals royalty company built through roll-up acquisitions of junior royalty portfolios. Operates the same model as Metalla at a smaller scale and serves as a deal-flow and capital-raising comparable.
• Sandstorm Gold Royalties Ltd. Intermediate precious metals royalty and streaming company with ~250 royalties and streams, including cornerstone assets like Hod Maden and Côté Lake. Directly competes with Metalla for streaming/royalty deals on intermediate and development-stage gold and copper assets.
• Gold Royalty Corp. Royalty and streaming company formed from the combination of GoldMining Inc.'s royalty portfolio with Ely Gold Royalties; offers a ~200 royalty portfolio with gold and copper exposure. A smaller, capital-constrained peer that has competed with Metalla for junior royalty acquisitions.
• Triple Flag Precious Metals Corp. Emerging intermediate precious metals royalty and streaming company spun out from First Quantum, with a portfolio centered on gold and by-product streams. Closely comparable size, growth profile, and deal-flow orientation to Metalla.
• Osisko Gold Royalties Ltd. Mid-tier precious metals royalty company with a portfolio of ~160 royalties, streams, and offtakes plus a Canadian mining subsidiary (Osisko Mining). Most directly comparable mid-cap franchise to Metalla's ~100-asset portfolio; notably, Metalla board nominee Sandeep Singh is Osisko's former CEO.

Emerging players

• Empress Royalty Corp. Emerging junior royalty company focused on precious and base metals streaming/royalty financings. Smaller and earlier-stage than Metalla but uses the same capital-light royalty model and targets similar operator counterparties.
• Sailfish Royalty Corp. Royalty and streaming company with a portfolio of precious metals royalties, including a stake in the Tocantinzinho royalty complex alongside Metalla. Smaller emerging peer that has competed with Metalla in junior royalty transactions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/metallaroyalty

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors5 records

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

M&A3 records

Investments

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

Frequently asked questions about Metalla Royalty & Streaming