Terraco Gold
Terraco Gold Corp was a precious-metals royalty company that held NSR royalties on the Spring Valley and Moonlight gold projects in Nevada. It operated as a Sailfish Royalty Corp subsidiary and was acquired by OR Royalties Inc. in 2026 for $168 million.
- Company typePrivate
- Founded1995
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Terraco Gold does
Terraco Gold Corp was a precious-metals royalty company that held contractual net smelter return (NSR) royalty interests on two gold projects in Nevada, USA. Its core assets were an up to 3% NSR royalty on Solidus Resources' Spring Valley Gold Project and a 2% NSR royalty on the adjacent Moonlight property. The company did not engage in mining operations; instead, it earned passive royalty revenue based on gold production from these assets, with no direct product pricing and no disclosed customer base beyond the operating counterparty.
The business model was a licensing/royalty structure: revenue was generated as a percentage of smelter revenue from produced and sold gold, providing capital-efficient precious-metals exposure without operational cost or labor overhead. Terraco maintained a small organizational footprint (1-10 employees) and was led by President and CEO Todd Hilditch. Originally a publicly listed entity on the TSX Venture Exchange under ticker TEN, the company was delisted and operated as a wholly-owned private subsidiary of Sailfish Royalty Corp from August 2019 onward.
In February 2026, Sailfish Royalty Corp announced the sale of Terraco Gold Corp to OR Royalties Inc. (NYSE:OR) for US$168 million in after-tax cash, with the transaction completing in April 2026. The exit represented approximately 5.4x the August 2019 purchase price and an internal rate of return of roughly 29% over the holding period. Following the closing, Terraco Gold Corp ceased to operate as a standalone entity and became a wholly-owned subsidiary of OR Royalties Inc.
Terraco Gold firmographics
Firmographics- Name
- Terraco Gold
- Legal name
- Terraco Gold Corp
- Website
- https://terracogold.com
- Company type
- Private
- Founded year
- 1995
- Operating status
- Acquired
- Headcount range
- 1–10 employees
- Short description
- Terraco Gold Corp was a precious-metals royalty company that held NSR royalties on the Spring Valley and Moonlight gold projects in Nevada. It operated as a Sailfish Royalty Corp subsidiary and was acquired by OR Royalties Inc. in 2026 for $168 million.
- Ownership category
- akta.pro rank
Terraco Gold industry classification
Industry- Product category
- Mining Royalties
- NAICS
- Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) (533), 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)
- akta.pro secondary industry
- Gold Mining (IMAKAEAA)
Keywords
Where Terraco Gold is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Markets served
Terraco Gold business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others
Revenue model
- Precious Metals Royalties: Revenue generated from net smelter return (NSR) royalties on gold mining projects - specifically 3% NSR on Spring Valley gold project and 2% NSR on Moonlight property in Nevada. Royalties provide revenue based on production output from mining operations.
Terraco Gold product offering
Product offeringCore offering
Terraco Gold Corp was a private precious-metals royalty company that held net smelter return (NSR) royalty interests on gold mining projects in Nevada, USA. Its portfolio consisted of an up to 3% NSR royalty on Solidus Resources' Spring Valley gold project and a 2% NSR royalty on the Moonlight property, generating royalty revenue based on third-party gold production without operational involvement.
Product overview
Terraco Gold Corp was a precious metals royalty company that held net smelter return (NSR) royalties on gold projects in Nevada, USA. The company operated as a subsidiary of Sailfish Royalty Corp and was subsequently acquired by OR Royalties Inc. for $168 million. The portfolio consisted of two primary royalty assets: a 3% NSR on the Spring Valley gold project and a 2% NSR on the Moonlight property, both operated by Solidus Resources.
Differentiator
Problem solved
Functional benefit
Products and services
- Spring Valley Gold Project Royalties
Quantifiable outcome
- Transaction achieved 5.4x return on investment with approximately 29% IRR over the holding period
Companies that use Terraco Gold
Customer profileSegments1 record
Ideal customer profiles2 records
Terraco Gold technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Terraco Gold partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Solidus ResourcescoreSolidus Resources operates the Spring Valley gold project and Moonlight property in Nevada, USA. Terraco Gold held up to 3% NSR royalty on Spring Valley and 2% NSR royalty on Moonlight through this relationship. The royalty interests provided passive income streams based on gold production from these mining operations.
Scale indicators2 records
Recent moves5 records
Expansion highlights3 records
Terraco Gold competitors and assessment
Company assessmentDirect peers
- Franco-Nevada Corporation: The world's largest precious-metals royalty and streaming company. Directly comparable to Terraco's NSR-royalty business model, with a diversified gold-focused portfolio and gold-price-linked cash flows.
- Wheaton Precious Metals: Major precious-metals streaming and royalty company with significant gold exposure. Operates the same NSR/streaming model as Terraco, providing upfront capital to miners in exchange for a share of production.
- Royal Gold: US-listed precious-metals royalty and streaming company with a portfolio of NSR royalties and streams on gold and other metals. Closely mirrors Terraco's model of passive exposure to third-party mine production.
- Osisko Gold Royalties: Canadian precious-metals royalty company that actually acquired Terraco via its OR Royalties entity. Comparable mid-cap royalty operator with a gold-heavy, North-America-focused portfolio.
- Sandstorm Gold Royalties: Gold-focused royalty and streaming company holding NSR royalties and streams on producing and development-stage assets. Comparable business model and gold-price leverage to Terraco.
- Metalla Royalty & Streaming: Growth-oriented precious-metals royalty company that acquires NSR royalties and streams, primarily on gold and silver assets in the Americas. Closely aligned with Terraco's royalty-acquisition strategy.
- Vox Royalty Corp. Smaller-cap precious-metals royalty company focused on acquiring single-asset NSR royalties on gold projects. Highly comparable to Terraco in size, structure, and royalty-acquisition approach.
- Gold Royalty Corp. Royalty company focused on acquiring gold-focused NSR royalties and similar interests, primarily in North America. Operates a similar model to Terraco on a broader scale.
- EMX Royalty Corporation: Royalty and mineral-property streaming company with exposure to gold, copper, and other metals. Comparable royalty/streaming model and counterparty structure to Terraco.
Others
- Sailfish Royalty Corp: Former parent company of Terraco Gold. Holds a broader precious-metals royalty and streaming portfolio and provided the platform through which Terraco's Nevada assets were originally acquired.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat2 records
Key risks5 records
Key highlights5 records
Customer concentration
Terraco Gold financial estimates
Financial estimateRevenue estimate
Valuation estimate
Terraco Gold leadership team
Management profileNumber of profiles
Profiles1 record
Terraco Gold funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Terraco Gold M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Terraco Gold
What does Terraco Gold do?
Terraco Gold Corp was a private precious-metals royalty company that held net smelter return (NSR) royalty interests on gold mining projects in Nevada, USA. Its portfolio consisted of an up to 3% NSR royalty on Solidus Resources' Spring Valley gold project and a 2% NSR royalty on the Moonlight property, generating royalty revenue based on third-party gold production without operational involvement.
Is Terraco Gold a public or private company?
Terraco Gold is a private company. It is classified as corporate owned and is currently acquired.
When was Terraco Gold founded?
Terraco Gold was founded in 1995. It employs 1 to 10 people.
Where is Terraco Gold based?
Terraco Gold is headquartered in Vancouver, Canada, in the North America region.
How does Terraco Gold make money?
One revenue line is on record: precious Metals Royalties.
Who are Terraco Gold's main competitors?
Direct peers on record are Franco-Nevada Corporation, Wheaton Precious Metals, Royal Gold, Osisko Gold Royalties, Sandstorm Gold Royalties, Metalla Royalty & Streaming, Vox Royalty Corp., Gold Royalty Corp. and EMX Royalty Corporation. Sailfish Royalty Corp is listed as an others.
Does Terraco Gold have an API?
No public API is recorded for Terraco Gold.
What industry is Terraco Gold in?
Terraco Gold's product category is Mining Royalties. Its primary akta.pro industry code is FSAHAIAK, Real Assets — Natural Resources & Minerals (Mining, Royalties/Streaming), with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 533 and its SIC code is 6795.