ELE

Interested in Elemental Royalty Corp? Here are five stocks we like better. Elemental Royalty reported strong Q2 2026 results, with revenue up 127% year over year to nearly $24 million, GEOs sold up 65% to 5,250, adjusted EBITDA nearly doubling to $17.4 million, and record operating cash flow of $15.5 million. The company is tracking toward the upper end of its full-year guidance of 17,000–21,000 GEOs and ended the quarter with approximately $74 million in cash, alongside a $150 million credit facility. Elemental expects to use about $60 million to close its Vizsla Royalties acquisition, pending Mexican antitrust approval. Elemental is pursuing significant portfolio growth, including increased exposure to Chapi and the Vizsla transaction’s 2%–3.5% royalty on Mexico’s Panuco project. Management forecasts production of approximately 25,000 GEOs in 2028 and 30,000–35,000 GEOs annually in 2029 and 2030, excluding further exploration upside. Steve Cohen's Point72 Disclosed 8.7% Stake In Elevation Oncology Elemental Royalty (NASDAQ:ELE) reported its second-highest quarterly revenue result in company history for the second quarter of 2026, as the royalty company benefited from growth in its portfolio following its combination with EMX Royalty. President and COO Frederick Bell said the company recorded a quarterly record for gold equivalent ounces, or GEOs, sold and was ahead of the midpoint of its full-year guidance at the halfway point of 2026. Elemental ended the quarter with approximately $74 million in cash before subsequent investments and the planned closing of its acquisition of Vizsla Royalties. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat CFO Stefan Wenger said second-quarter revenue totaled nearly $24 million, an increase of 127% from the prior-year period. The company sold 5,250 GEOs during the quarter, up 65% year over year, while adjusted EBITDA rose nearly 100% to $17.4 million. Operating cash flow reached a record $15.5 million. Elemental said it was tracking toward the upper end of its annual GEO guidance range of 17,000 to 21,000 GEOs. The company reported approximately $48 million in revenue and 10,000 GEOs for the first half of the year. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Wenger said the GEO figures reported by the company are calculated using actual average commodity prices for the quarter, with revenue divided by the average price. The company’s guidance assumptions used gold at $4,500 per ounce and copper at $5.50 per pound. He said gold had been slightly below the company’s guidance range while copper had exceeded it. Elemental had working capital of $96 million at quarter-end and an expanded credit facility of $150 million, plus a $50 million accordion feature. Wenger said the company expects to use about $60 million in cash to complete the Vizsla transaction and had also completed the Chapi investment after the quarter ended. The company may use a small amount of its credit facility to maintain working capital following those outlays. → First Solar’s Profit Engine Faces a New Policy Test in Washington The company’s largest sources of cash flow during the first half included royalties on Caserones, Bonanza Creek, Karlawinda, Leeville and Timok. Wenger said those five assets accounted for about 80% of Elemental’s revenue. Wenger said general and administrative expense was elevated in the first half because of merger integration and corporate initiatives, including the company’s NASDAQ listing, TSX uplisting, dividend, normal course issuer bid and credit-facility refinancing. He expects quarterly G&A expense to decline from $5.6 million in the first half to the low-$4 million range going forward, or roughly $16 million to $18 million annually. The company is targeting a reduction of more than 50% in the number of legal entities across the combined group. Wenger said Elemental aims to increase adjusted EBITDA to more than 80% of revenue by 2027, compared with about 74% currently. During the first half, Elemental invested about $7 million to expand its Western Queen royalty, spent $2 million repurchasing shares under its normal course issuer bid and made nearly $2 million in dividend payments. The company introduced its dividend in the first quarter and said shareholders can elect to receive future distributions in either cash or Tether Gold. Bell said Elemental’s portfolio is roughly two-thirds focused on gold and other precious metals and one-third on copper. The company expects to continue increasing its precious-metals exposure, although management said the copper assets are generating substantial cash flow. Elemental expects to close its acquisition of Vizsla Royalties in the third quarter, subject to approval from Mexico’s antitrust commission. Bell said the transaction has already received shareholder and court approvals, and the company expects the remaining clearance “in the coming weeks,” assuming no further follow-up questions. The proposed acquisition would add an uncapped 2% to 3.5% net smelter return royalty on Vizsla’s Panuco project in Mexico. Bell described Panuco as a potentially material future contributor and cited exploration potential across the property, where he said only about one-third of known veins have been explored. Vizsla is also awaiting a mine permit for the project. Bell said Elemental has deployed about $750 million in the year through June 2026, including the EMX and Vizsla corporate transactions, compared with about $28 million in acquisitions during the prior 12-month period. The company said its six largest cornerstone assets would have an average value of approximately $170 million after closing the Vizsla transaction, compared with roughly $40 million as of mid-2025. Elemental also increased its royalty exposure at Chapi in Peru and took an equity position in the operator. Bell said the mine was commissioned in the first half at an initial production level of 10,000 tonnes per year and is being evaluated for expansion to 30,000 tonnes per year. At Karlawinda, Elemental received about $3 million in second-quarter revenue. Bell said Capricorn Metals’ expansion is on track for completion in the third quarter and is expected to increase annual production to about 150,000 ounces from approximately 115,000 to 120,000 ounces. Capricorn also reported increases of about 30% in reserves and 48% in total resources following the quarter. At Caserones in Chile, operator Lundin Mining has continued exploration work, including about 100 kilometers of drilling over the past 18 months, according to Bell. He said the operation has shown incremental improvement since Lundin took majority ownership, despite weather-related interruptions announced for the third quarter. Bell also highlighted ongoing development and exploration at Timok, Leeville and Bonikro. He said Timok’s operator is advancing a lower-zone expansion while continuing to mine the upper zone, and has identified the MG Zone discovery within Elemental’s royalty area. At Leeville, Bell said management sees a multi-decade mine life before accounting for additional exploration. Elemental’s Bonikro royalty is a 4.5% NSR that is expected to continue generating revenue until approximately 2029. Looking ahead, Elemental forecast production of about 25,000 GEOs in 2028 and approximately 30,000 to 35,000 GEOs in 2029 and 2030. Bell said that outlook does not include potential mine-life extensions or exploration success at existing assets such as Karlawinda and Caserones. Elemental Royalties (NASDAQ: ELE) is a publicly traded company that acquires and manages royalty and streaming interests in the mining sector. The firm focuses on securing long‑lived, low‑cost interests that provide ongoing, contractually defined payments or metal deliveries from producing and near‑term development mineral projects. By targeting royalties and streams rather than operating mines, the company seeks exposure to commodity price upside while avoiding the capital intensity and operating risks of miners. Elemental Royalties’ activities include sourcing and negotiating royalty and stream transactions, performing technical and commercial due diligence on potential assets, and actively managing a diversified portfolio of interests. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Elemental Royalty Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Release Date: August 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Elemental Royalty Corp (NASDAQ:ELE) reported its second-highest quarterly revenue in company history, with a 127% year-over-year increase to nearly $24 million in Q2 2026. The company achieved a record number of gold equivalent ounces (GEOs) sold in the quarter, totaling 5,250, a 65% increase over the prior year period. Elemental Royalty Corp (NASDAQ:ELE) is tracking ahead of the midpoint of its 2026 guidance, with 10,000 GEOs sold in the first half and expectations to finish at the upper end of the 17,000-21,000 GEO range. The company maintains a strong balance sheet with $74 million in cash and an undrawn credit facility, positioning it well to close the Visa Royalty acquisition and fund future growth. Elemental Royalty Corp (NASDAQ:ELE) has a robust organic growth profile, forecasting an increase to 25,000 GEOs by 2028 and 30,000-35,000 GEOs by 2030, driven by expansions at key assets like Carlawinda and Casarones. The company has successfully completed several corporate milestones, including a TSX uplisting, NASDAQ listing, index inclusions (S&P TSX Global Gold, Russell 2000), and the initiation of a maiden dividend. Elemental Royalty Corp (NASDAQ:ELE) is actively returning capital to shareholders through both a dividend and a normal course issuer bid (NCIB), having repurchased $2 million in shares during the quarter. The pending acquisition of Visa Royalty adds an uncapped 2%-3.5% NSR on the high-quality Panuco silver project, which is expected to be a material contributor and is on track to close in Q3 2026. The company's portfolio is well-diversified across commodities (2/3 gold, 1/3 copper) and jurisdictions, with a strong pipeline of development projects backed by operators investing over $800 million. Management expects G&A costs to decline in the second half of the year, with a targeted run rate of $4-$4.5 million per quarter, improving adjusted EBITDA margins to over 80% by 2027. Elemental Royalty Corp (NASDAQ:ELE) has a strong track record of value creation, with its top six cornerstone assets' average value increasing from $40 million to $170 million following the EMX merger and Visa acquisition. The company is benefiting from higher copper prices, which are outperforming guidance assumptions and contributing positively to revenue and GEO calculations. Elemental Royalty Corp (NASDAQ:ELE) has a supportive shareholder base, including major shareholder Tether, and has added new analyst coverage from CIBC, improving its visibility in the market. The company is actively managing its portfolio, having expanded its royalty at Western Queen and made a strategic investment in Chappie, which commissioned in H1 and has expansion potential. Management has a clear strategy to reduce corporate complexity, targeting a 50% reduction in the number of entities within the group, which will lower costs and improve operational efficiency. The closing of the Visa Royalty acquisition is pending approval from the Mexican Antitrust Commission, which has caused delays and introduces uncertainty regarding the exact timing of the transaction. Elemental Royalty Corp (NASDAQ:ELE) expects to use approximately $60 million in cash to close the Visa transaction, which will significantly reduce its cash position and may require drawing on its credit facility. Gold prices have been slightly below the company's guidance assumptions, which could pressure revenue and GEO calculations if the trend continues. The company's G&A expenses were elevated in the first half of 2026 at $5.6 million per quarter due to integration and corporate initiatives, which is higher than the expected future run rate. The company's operating cash flow growth was only 8% year-over-year despite a 127% increase in revenue, due to one-time payments in the prior year period, indicating a potential slowdown in cash conversion. The company's portfolio is exposed to geopolitical risks, particularly in Mexico with the Visa asset, which could face permitting delays or other regulatory hurdles despite progress in the region. The company's growth profile is partly dependent on the successful execution of expansion projects by operators, such as Carlawinda's expansion and Casarones' exploration, which carry execution risks. The company's NCIB repurchases were relatively small at $2 million, suggesting limited impact on reducing share count or boosting shareholder value in the near term. The company's reliance on a few key assets is notable, with 80% of revenue coming from its top five royalties, creating concentration risk if any of these assets underperform. The company's ability to maintain its high cadence of transactions and growth may be challenged by the need to integrate the Visa acquisition and manage its increased portfolio complexity. The company's equity investments, such as the recent Chappie investment, introduce additional risk compared to its traditional royalty model, as they are subject to equity market volatility. The company's guidance for future GEO growth assumes successful development of projects like Viscaria and Bay, which are still in early stages and may face financing or construction delays. The company's dividend and NCIB, while positive, may be viewed as modest relative to its cash position, potentially signaling a lack of larger immediate investment opportunities. The company's increased size and scale may make it harder to find accretive deals that can meaningfully move the needle, potentially leading to capital deployment challenges. The company's exposure to copper, while beneficial now, could become a drag if copper prices decline, given that a third of the portfolio is focused on the metal. Warning! GuruFocus has detected 4 Warning Signs with ELE. Is ELE fairly valued? Test your thesis with our free DCF calculator. Q: Can you walk us through your view on geopolitical risk factors as they pertain to assets and your willingness to take risks, and if that willingness has changed since the merger? A: Frederick Bell (President and COO): The growth of the combined company allows us to take on larger risks, but I would rephrase it to say those risks are mitigated by our diversified portfolio. For example, our Mexico exposure is less than Wheaton's as a percentage of the portfolio and similar to Franco-Nevada's. We always balance geopolitical risk with geological potential, and in the case of Visa, the geological potential is exceptional. The combined company is also better positioned to maintain a higher cadence of deal flow. Q: Would you be willing to issue meaningful amounts of shares for a large-scale acquisition, and what is your maximum size-wise that you're looking at right now? A: Stefan Wenger (CFO): Our first thought when acquiring a new royalty is to be as accretive to net asset value per share as possible. We prefer to use our credit facility and banking partners to lever into a deal at an appropriate level. However, there will come a time when we'll need to issue equity for the right deals, and we'll evaluate the financing together with the deal terms to ensure it's accretive on a NAV per share basis. We won't rule out equity in the future, but we look to utilize our strengthened balance sheet and cash flow first. Q: Can you remind us if the GEO report is calculated at spot prices or your guidance prices, and how does that compare? A: Stefan Wenger (CFO): The GEOs we report are based on actual average prices for the quarter compared to our revenue. Our guidance was made at $4,500 gold and $5.50 copper. Today's spot is just below our guidance for gold but well above it for copper, which has been the outperformer. So we are benefiting from higher copper prices, while gold has been slightly below our guidance range. Q: Does growing in size change the way you look at transactions, whether it's deal sizes or taking equity positions? A: Frederick Bell (President and COO): Our approach is very consistent with the past. We have taken small equity positions alongside royalties where we see value, and we look across the whole spectrum of deal sizes, from $7 million additions like Western Queen to larger corporate transactions like Visa. We have a strong pipeline and the company is in a position to execute. Historically, we syndicated about $200 million of deal flow, but going forward, we don't necessarily have to give away deal flow, allowing us to be more active and retain more value. Q: Can you comment on your targeted precious metals content in the longer-term? A: Stefan Wenger (CFO): Right now we're about two-thirds precious metals. The Visa acquisition adds to that precious metals component, and we're looking at other transactions focused on precious metals that may have base metal components. We look to continue increasing the precious component, but we're really pleased with the copper in our portfolio, which is generating tremendous cash flow. It's a well-balanced portfolio. Q: What is your G&A run rate going forward and how should we expect the cost profile to evolve? A: Stefan Wenger (CFO): The first half was incredibly busy with corporate initiatives, but I expect costs to decline in the second half. We're targeting a G&A run rate in the low $4 million range per quarter, down from the $5.6 million seen in Q2. We're reducing our corporate entity structure by over 50% and have completed many one-time integration costs. Our adjusted EBITDA margin is currently about 74% of revenue, and we expect to improve that to greater than 80% by 2027. Q: What is the timing for closing the Visa Royalty transaction? A: Frederick Bell (President and COO): We have received shareholder and court approval, and we are waiting on the Mexican Antitrust Commission. We have been answering their questions back and forth over the summer, and we anticipate getting approval in the coming weeks, subject to no further follow-up questions. We expect to close the transaction in Q3 2026, with consideration of approximately three-quarters equity and one-quarter cash. Q: What is your expectation for consolidation in the royalty industry? A: Frederick Bell (President and COO): We have been active in consolidation, both as a target and participant, having combined with Altus Strategies and EMX. We saw the benefits in terms of portfolio diversification and increased scale. Going forward, we look at opportunities on an asset basis, doing bottom-up work to see which presents more value. We continue to see value in getting scale and critical mass, and we've strengthened our team in technical, finance, and legal areas to support future growth. We remain very busy with deal flow even while waiting for the Visa transaction to close. Q: With 200 plus royalties, how do you monitor and prioritize material developments across the portfolio? A: Stefan Wenger (CFO): We have an excellent team whose primary goal is to monitor every development within our portfolio, both from a technical and financial perspective. We've developed a really good platform to grow, and that growth is fueled by our platform that includes our 200 royalties. The team plays a major role in prioritizing and tracking material developments across the portfolio. Q: Can you provide an update on the dividend and the option to take it in Tether Gold? A: Frederick Bell (President and COO): Every shareholder has the ability to take the dividend in cash as per normal. We have just added a secondary ability to elect to take it in Tether Gold for those who would like that option. It doesn't mean anyone has to; it's just an additional option going forward. We have now paid two quarterly dividends in Q1 and Q2. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Denver, Colorado--(Newsfile Corp. - August 11, 2026) - Elemental Royalty Corporation (NASDAQ: ELE) (TSX: ELE) ("Elemental" or the "Company") is pleased to report results for the three and six months ended June 30, 2026. For the quarter, Elemental delivered revenue of US$23.8 million, record quarterly GEOs1 of 5,248, record operating cash flow of US$15.5 million, and adjusted EBITDA1 of US$17.4 million. Q2 2026 Financial Highlights Quarterly Revenue of US$23.8 million, the Company’s second highest quarterly result, and up 127% over revenue plus attributable share of Caserones in Q2 20251; Record Gold Equivalent Ounces ("GEOs") of 5,248 for Q2 2026 (3,184 in Q2 2025), and record 10,231 GEOs for H1 2026 (7,790 in H1 2025); Adjusted EBITDA of US$17.4 million, up 99% over adjusted EBITDA1 in Q2 2025, reflecting increased operating leverage and portfolio performance; Record operating cash flow of US$15.5 million, up 8% over adjusted operating cash flow1 in the comparative period; Cash and cash equivalents of US$74.2 million as of June 30, 2026, together with the Company’s undrawn credit facility, provide significant financial flexibility to support continued growth; and On track to meet guidance of 17,000 — 21,000 GEOs for 2026, driven by material contributions from Karlawinda, Bonikro, Timok, and Caserones. David M. Cole, Elemental Chief Executive Officer, commented: "We continue to deliver strong quarterly results, supported by robust metal prices and solid contributions from key producing assets, including Karlawinda, Bonikro, Caserones, Timok, and Leeville. The breadth and quality of our expanded portfolio continue to demonstrate the benefits of the transformational merger with EMX Royalty, providing Elemental with greater scale, diversification, and resilience. "During the quarter, we continued to return value to shareholders through our quarterly dividend and share repurchases under the normal course issuer bid. We also announced the proposed acquisition of Vizsla Royalties, which represents another material milestone in Elemental's growth strategy and will further enhance the scale and quality of our portfolio. With a strong balance sheet, growing cash flow and a broad pipeline of development and exploration opportunities, Elemental is well positioned to continue creating long-term value for shareholders." Investor Webinar An investor webinar will be held on Wednesday August 12, 2026, starting at 11am Eastern Time (8am Pacific Time), to discuss these results, followed by a question-and-answer session. To register for the investor webcast, please click the link below: https://app.webinar.net/XLygmwVkbGV A replay of the event will be available on the Elemental website following the presentation. Summary of Financial Highlights for the Period Ended June 30, 2026 and 2025: Outlook Based on performance during the first half of 2026 and current expectations for the underlying assets, the Company remains on track to achieve its 2026 GEO sales guidance. The Company's guidance for 2026 assumes a commodity price of US$4,500/oz gold and US$5.50/lb copper. The recent decline in gold prices has been partially offset by the increase in copper prices in 2026, which has positively impacted GEOs for Elemental's copper royalties, including Caserones and Timok. Guidance in 2026 is based on public forecasts, other disclosure by the owners and operators of our assets, historical performance, and management’s understanding of the underlying producing assets. Key Strategic Developments Q2 2026 has seen continued performance across Elemental's portfolio, supported by strong commodity prices and solid contributions from key producing assets. including Karlawinda, Bonikro, Caserones, Timok, and Leeville. The results of the quarter further strengthening the Company's position as a growing mid-tier royalty and streaming company, with a broad base of cash-flowing assets supporting a resilient and growing revenue profile. Key developments during and subsequent to the quarter included: Entering into a definitive arrangement agreement for the acquisition of Vizsla Royalties, which will provide Elemental with a life-of-mine 2.0%–3.5% NSR royalty over the Panuco silver-gold project in Mexico, an advanced development-stage project expected to become a cornerstone asset within the portfolio. The transaction has received shareholder and court approvals while subject to regulatory and other customary closing conditions as at June 30, 2026 and is expected to close during the third quarter of 2026. The declaration of the second quarterly dividend of US$0.03 per share as at June 30, 2026, which was paid post quarter end. Eligible registered shareholders were entitled to elect to receive the dividend in kind in the form of Tether Gold XAU₮, an innovative and historic first. The initiation of the Normal Course Issuer Bid repurchase program wherein the Company may purchase 3,222,537 common shares, approximately 5% of the issued and outstanding common shares. During the quarter, the Company repurchased and cancelled 128,280 common shares, for a total cost of US$2.0 million. Subsequent to the end of the period, the Company repurchased an additional 17,749 common shares for a total cost of US$0.3 million. The acquisition of a 2.5% Net Smelter Return royalty on the Western Queen Gold Project for a total consideration of A$10 million (approximately US$7.25 million) with A$5 million to be paid at closing and A$5 million on satisfaction of certain milestone conditions. This upgrades and replaces an existing gold royalty of A$6-20 per ounce of gold produced. Elemental up-listed to the TSX main board, in addition to being added to the S&P/TSX Global Gold Index, and to the Russell 3000 and Russell 2000 Indexes, which have already helped to enhance the Company's visibility among Canadian and U.S. institutional investors and index-oriented investment funds and bolster trading liquidity. Advancement across the portfolio, both at producing and development royalty assets, including cornerstones Timok, Caserones, Karlawinda, and Laverton, as well as updates at Diablillos, Cactus, and Dugbe. Operators continued to progress development, optimization, production, and exploration activities that support near-term cash flow visibility and long-term portfolio optionality. Elemental continues to evaluate a pipeline of potential royalty and streaming opportunities across precious and base metals, supported by a strong balance sheet, diversified portfolio, and disciplined capital allocation approach. Subsequent to quarter-end, Elemental also increased its royalty interest in the Chapi copper mine and completed a strategic investment in Quilla Resources, owner of the Chapi mine. Together, these investments further expand the Company's copper exposure and add long-term development and exploration optionality to the portfolio. Asset update Cornerstone and Key Producing Assets Caserones - Copper and Molybdenum - Effective 1.304% NSR Effective revenue from Caserones of US$6.7 million and US$13.5 million for the three and six months ended June 30, 2026 respectively. Copper production for the three and six months ended June 30, 2026 was 33,964 and 72,516 tonnes, respectively. Subsequent to quarter end, Caserones operations were suspended for thirteen days following severe winter storms that restricted site access and disrupted power supply. Consequently, Lundin Mining Corporation (TSX: LUN) stated annual copper production was now expected to be in the lower half of its guidance range of 130,000 to 140,000 tonnes. Karlawinda - Gold - 2% NSR Royalty revenue from Karlawinda of US$3.1 million and US$5.9 million for the three and six months ended June 30, 2026 respectively. Gold production for the three and six months ended June 30, 2026 was 30,437 ounces and 60,795 ounces, respectively. Capricorn Metals Ltd. (ASX: CMM) ("Capricorn") continues to advance the Karlawinda Expansion Project, which is expected to increase processing capacity to 6.5 million tonnes per annum and annual gold production to approximately 150,000 ounces. Subsequent to the end of the period, Capricorn announced a 32% increase in Mineral Reserves at Karlawinda, supporting an approximately 10-year mine life at the expanded processing capacity. Timok - Copper and Gold - 0.3625% NSR Royalty revenue from Timok of US$2.2 million and US$4.5 million for the three and six months ended June 30, 2026 respectively. Expansions and optimizations continue at the Upper Zone with ongoing advancement of multi-level mining; Phase 1 of the Lower Zone is progressing with key works including shafts and conveyor declines on track. At the Malka Golaja Project, exploration drilling is progressing as planned with preliminary work and infrastructure implementation underway. Bonikro - Gold - Up to 4.5% NSR, capped at 560,000 ounces Royalty revenue from Bonikro of US$5.0 million and US$11.2 million for the three and six months ended June 30, 2026 respectively. Gold production for the three and six months ended June 30, 2026 was 29,011 and 60,482 ounces, respectively. As at the end of the period, there were 285,732 ounces remaining on the Bonikro capped royalty of 560,000 ounces. Leeville - Gold - 1.0% GSR Royalty revenue from Leeville of US$2.1 million and US$4.2 million for the three and six months ended June 30, 2026 respectively. Gold sales for the three and six months ended June 30, 2026 was 47,347 ounces and 89,131 ounces, respectively. Gediktepe - Gold and Polymetallic - 2.25% NSR Royalty revenue from Gediktepe of US$0.6 million and US$1.7 million for the three and six months ended June 30, 2026 respectively. Gold production for the six months ended June 30, 2026 was 18,487 gold equivalent ounces from the Gediktepe oxide operation, exceeding its full-year oxide production target of 17,500 gold equivalent ounces; no further oxide production is expected this year. ACG Metals Corporation (LSE: ACG) reiterated its 2026 consolidated production guidance of 20,000 to 22,000 tonnes of copper equivalent. Construction of the Gediktepe Sulphide Expansion Project continued on schedule and within budget, with first copper and zinc concentrate production expected in August 2026. Key Development Assets Laverton - Gold - 2.0% - 4.0% GRR - Resource Development Genesis Minerals Limited (ASX: GMD) ("Genesis") continued to advance exploration activity across the Laverton district, including evaluation of Beasley Creek as a potential future source of base load feed for the Laverton mill. Subsequent to the period, Genesis entered into a binding agreement to merge with Vault Minerals Limited, the owner of the Mount Monger operation. The transaction is expected to increase operational flexibility and create opportunities to optimize ore sources and processing capacity across the combined portfolio, including assets over which the Company holds royalties. Diablillos - Silver and Gold - 1.0% NSR - Feasibility Study AbraSilver Resources Corp. (TSX: ABRA) ("AbraSilver") reported an updated Mineral Resource Estimate for the Diablillos silver-gold project and completed a Definitive Feasibility Study outlining a 9,000-tonne-per-day operation with a 25-year mine life, an after-tax NPV of C$4.2 billion and an internal rate of return of approximately 42%. Final provincial environmental approval was received, completing the principal environmental permitting required to advance the project toward construction. Post period-end, AbraSilver announced a C$45.0 million bought-deal public offering, with the net proceeds intended to fund early works, procurement of long-lead equipment and other development activities at Diablillos. Dugbe - Gold - 2.0% - 2.5% NSR - Feasibility Study Major shareholder, Mansa Resources Limited ("Mansa") completed its acquisition of operator Pasofino Gold Limited (TSXV: VEIN) ("Pasofino"), resulting in Pasofino becoming an indirect wholly owned subsidiary of Mansa. Mansa now controls the Dugbe Gold Project in Liberia, providing consolidated ownership and funding support for the continued advancement of the project. A Feasibility Study for the Dugbe Project is expected in Q3 2026. Cactus & Parks/Salyer - Copper - 0.50% - 0.54% NSR - Pre-Feasibility Study On June 24, 2026, Hudbay Minerals Inc. (NYSE: HBM) ("Hudbay") completed the acquisition of Arizona Sonoran Copper Company Inc. ("Arizona Sonoran"), resulting in Arizona Sonoran becoming a wholly owned subsidiary of Hudbay. The acquisition adds the Cactus project, including Parks/Salyer, to Hudbay's existing Arizona portfolio and is expected to create opportunities for regional operating and infrastructure synergies with the Copper World project. Hudbay expects to spend approximately US$30 million at Cactus in the second half of 2026 to advance an updated PFS, perform site de-risking activities, conduct exploration activities and for other ongoing site costs. The updated Cactus PFS is expected to be completed in the second half of 2027. Mactung - Tungsten - 4.0% NSR - Resource Development Fireweed Metals (TSXV: FWZ) ("Fireweed") commenced its 2026 field program, including up to 2,000 meters of drilling at Mactung to support resource conversion, geotechnical studies and continued project development. A Feasibility Study is underway and is expected to be completed in the first quarter of 2027. During the quarter, Fireweed also completed a C$61.5 million private placement to fund exploration and development activities across its northern Canadian project portfolio, including Mactung. Second Quarter 2026 Performance by Asset The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the second quarter of 2026 and 2025: Year to Date 2026 Performance by Asset The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the first six months of 2026 and 2025: Qualified Person Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified, and approved the above technical disclosure. About Elemental Royalty Corporation. Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus's track record of accretive royalty acquisitions with EMX's strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise. Elemental Royalty trades on NASDAQ and on the TSX under the ticker symbol "ELE". For further information, contact: www.elementalroyalty.com Phone: +1 (604) 688-6390 (NASDAQ: ELE) | (TSX: ELE) | ISIN: CA28620K1066 | CUSIP: 28620K Cautionary note regarding forward-looking statements This news release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental's expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2025. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management's best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Nasdaq Stock Market LLC, or the TSX, or its Regulation Service Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release. Notes Royalty revenue received carries no direct cash cost of sales: distributions from associates related to Elemental's effective royalty on Caserones were received net of Chilean taxes and have no other costs. Refer to the "Non-IFRS financial measures" section below or on page 24 of the Q2 2026 MD&A for more information on each non-IFRS financial measure. These non-IFRS measures are not standardized financial measures under the financial reporting framework used to prepare the financial statements to which the measures relate and might not be comparable to similar financial measures disclosed by other issuers. Effective November 13, 2025, the Company discontinued accounting for SLM California as an investment in associate and began recognizing its share of revenue from the Caserones royalty directly, rather than as a share of profit from associate. Non-IFRS Financial Measures The Company has included performance measures which are non-IFRS and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. The non-IFRS measures do not have any standard meaning under IFRS Accounting Standards and other companies may calculate measures differently. Caserones Reclassification Effective November 13, 2025, the shareholders of SLM California executed an amendment to the entity's shareholder agreement, resulting in the Company reassessing the classification of its interest in SLM California, which holds the Company's Caserones royalty. As a result of the amendment to the shareholder agreement, the Company determined that the revised arrangement constituted a joint operation in accordance with IFRS 11 Joint Arrangements. Consequently, on November 13, 2025, the Company discontinued equity accounting under IAS 28 Investments in Associates and Joint Ventures and began recognizing its proportionate share of the assets, liabilities, revenues, and expenses of SLM California as a joint operation. As a result, there are no adjustments in the current period for revenue plus attributable share of Caserones, depletion plus attributable share of Caserones, or tax expense plus attributable share of Caserones. Reconciliation of Adjusted EBITDA: The following is the reconciliation of adjusted EBITDA: The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently. Reconciliation of Revenue, Depletion and Tax expense plus Attributable Share of Caserones: Revenue plus attributable share of Caserones is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental's effective royalty on the Caserones copper mine. Management uses revenue plus attributable share of Caserones to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as revenue, investors may use revenue plus attributable share of Caserones to evaluate the results of the underlying business, particularly as the revenue plus attributable share of Caserones may not typically be included in operating results. Management believes that revenue plus attributable share of Caserones is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company's core operating results from period to period. Revenue plus attributable share of Caserones is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. Depletion plus attributable share of Caserones and tax expense plus attributable share of Caserones are non-IFRS measures which include depletion and tax expense from the Caserones royalty asset respectively, consistent with the recognition of revenue plus attributable share of Caserones as described above. The following is the reconciliation of revenue plus attributable share of Caserones: The following is the reconciliation of depletion plus attributable share of Caserones: The following is the reconciliation of tax expense plus attributable share of Caserones: Reconciliation of Adjusted Cash Flows from Operating Activities: Adjusted cash flows from operating activities is a non-IFRS measure which includes dividends from the Caserones royalty asset. The following is the reconciliation of adjusted cash flows from operating activities: Reconciliation of Gold Equivalent Ounces Sold Elemental's revenue plus attributable share of Caserones is converted to an attributable gold equivalent ounce, or GEO, basis by dividing the royalty and other revenue from associates in a period by the average gold price for the same respective period. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently. The following is the reconciliation of gold equivalent ounces sold: To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309133

Denver, Colorado--(Newsfile Corp. - August 4, 2026) - Elemental Royalty Corporation (NASDAQ: ELE) (TSX: ELE) ("Elemental") will release its Q2 2026 results after market close on Tuesday, August 11, 2026. An investor webcast will be held on Wednesday, August 12, 2026, starting at 11 a.m. Eastern Time (8 a.m. Pacific Time) to discuss these results, followed by a question-and-answer session. To register for the webcast, please follow the link below: https://app.webinar.net/XLygmwVkbGV A recording of the presentation will be available on the Elemental website following the presentation. For further information contact: NASDAQ: ELE | TSX: ELE | ISIN: CA28620K1066 | CUSIP: 28620K About Elemental Royalty Corporation.Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus's track record of accretive royalty acquisitions with EMX's strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise. Elemental Royalty trades on NASDAQ and on the TSX under the ticker symbol "ELE". Cautionary note regarding forward-looking statements and financial outlookThis news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable United States and Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology (including negative and grammatical variations thereof). Forward-looking statements and information include, but are not limited to, statements regarding future royalties and future consideration payments or issuances of shares, or other statements that are not statements of fact. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental's expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2025. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represent management's best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Nasdaq Stock Market LLC, or the TSX, or its Regulation Service Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307938

Elemental Royalty Corporation recently announced that its Board of Directors declared a quarterly dividend of US$0.03 per common share for 2026, payable to shareholders of record as of June 30, 2026, with distribution expected around July 15, 2026. This clear, full-year dividend framework offers investors greater visibility on cash returns, which can be particularly important for assessing income reliability in royalty-focused business models. Next, we will examine how this confirmed quarterly dividend framework shapes Elemental Royalty’s investment narrative and perceived income stability. AI is about to change healthcare. These 5 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. To own Elemental Royalty, you have to believe in a maturing gold royalty platform that can turn a still-unprofitable, acquisition-heavy model into consistent, cash-backed returns. The newly affirmed US$0.03 quarterly dividend for 2026 slightly tilts the near-term story toward income, reinforcing the idea that management is confident enough in current royalty cash flow to commit capital back to shareholders, not just to new deals. That said, it does not really alter the key short term catalysts, which still sit in how quickly recent royalty acquisitions ramp, how the enlarged credit facility is used, and whether the new management and board can prove themselves after a period of shareholder dilution. The biggest immediate risk is that a relatively expensive stock by sales multiples is now also carrying a fixed cash commitment. However, this new dividend commitment may limit flexibility if royalty cash flows disappoint. Elemental Royalty's shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be. Four Simply Wall St Community fair value views span from just US$0.75 to nearly US$70 per share, underlining how far apart expectations can be. Set against a young management team, an expensive sales multiple and a now-embedded dividend, this spread reminds you to test several viewpoints before deciding how Elemental’s risk and income profile really fits your portfolio. Explore 4 other fair value estimates on Elemental Royalty - why the stock might be worth over 3x more than the current price! Disagree with this assessment? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Elemental Royalty research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision. Our free Elemental Royalty research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Elemental Royalty's overall financial health at a glance. Our top stock finds are flying under the radar-for now. Get in early: Capitalize on the AI infrastructure supercycle with our selection of the 51 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. Uncover the next big thing with 12 elite penny stocks that balance risk and reward. The latest GPUs need a type of rare earth metal called Terbium and there are only 30 companies in the world exploring or producing it. Find the list for free. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ELE.TO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Denver, Colorado--(Newsfile Corp. - May 28, 2026) - Elemental Royalty Corporation (TSX: ELE) (NASDAQ: ELE) ("Elemental" or "the Company") is pleased to report that all proposed resolutions were approved at the Company's Annual General and Special Meeting of shareholders held on May 27, 2026, in Vancouver, British Columbia (the "Meeting"). The number of directors was set at 5 and all director nominees, as listed in the Management Information Circular dated April 16, 2026 (the "Information Circular"), were elected as directors of the Company at the Meeting to serve for a one-year term and hold office until the next annual meeting of shareholders. According to the proxy votes received from shareholders, the results were as follows: Shareholders voted 99.08% in favour of setting the number of directors at five, 99.81% in favour of appointing PricewaterhouseCoopers LLP as auditors of the Company, and 94.93% in favour of ratifying and approving the Company's Amended Omnibus Plan. Voting results for all resolutions noted above are reported in the Report on Voting Results as filed under the Company's SEDAR+ profile on May 28, 2026. For further information contact: Elemental Royalty Corporation: www.elementalroyalty.comPhone: +1 (604) 688-6390NASDAQ: ELE | TSX: ELE | ISIN: CA28620K1066 | CUSIP: 28620K About Elemental Royalty Corporation. Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus's track record of accretive royalty acquisitions with EMX's strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise. Elemental Royalty trades on NASDAQ and on the TSX under the ticker symbol "ELE". Neither the Nasdaq Stock Market LLC, or the TSX, or its Regulation Service Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299229

This article first appeared on GuruFocus. Release Date: May 14, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Elemental Royalty Corp (NASDAQ:ELE) reported a record quarterly revenue of $24.3 million, marking an 83% increase over the prior year. The company successfully completed a merger with EMX Royalty Corporation, enhancing its scale and capital availability. Elemental Royalty Corp (NASDAQ:ELE) has increased its revolving credit facility to $200 million, improving its financial flexibility. The company has uplisted to the TSX Big Board, enhancing its trading liquidity and visibility in the capital markets. Elemental Royalty Corp (NASDAQ:ELE) announced its inaugural dividend, offering shareholders the option to receive it in cash or XAUT tether gold stablecoin. General and administrative expenses were higher than expected, impacting the company's cost structure. The company experienced higher costs due to closing deal expenses, uplisting, and credit facility upsizing. There is uncertainty regarding future payments from the Corelli Stud asset, as the mine plan is pending updates from the new operator. The company's royalty revenue from Bonacro is subject to fluctuations due to timing and sales variability. Elemental Royalty Corp (NASDAQ:ELE) faces a competitive environment in the royalty space, which could impact future deal flows. Warning! GuruFocus has detected 6 Warning Signs with ELE. Is ELE fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more details on the performance of the Bonacro asset and whether the outperformance was due to gold prices or other factors? A: Fred Bell, CEO, explained that the performance was partly due to the timing of sales, which can fluctuate from quarter to quarter. The ore processed was consistent, so the strong quarter was more about sales timing rather than changes in the royalty area. Q: What should we expect from the Corelli Stud asset for the rest of the year, and are there any pending payments? A: Fred Bell, CEO, noted that with the acquisition of Allied, there will likely be a refreshed mine plan. They expect some further payments related to mined royalty revenue and milestone payments, but are awaiting an updated plan from the new operator. Q: How did the merger with EMX Royalty Corporation impact Elemental Royalty Corp's financial results? A: Stefan Wenger, CFO, highlighted that the merger led to record quarterly revenue, EBITDA, and cash flow, with revenue increasing by 83% over the prior year. The merger has also improved capital availability and decreased the cost of capital. Q: Can you elaborate on the strategic focus of Elemental Royalty Corp moving forward? A: David Cole, CEO, emphasized that the company remains gold-focused but is increasing its silver exposure. They aim to maintain over 50% precious metals in their revenue to potentially be included in index funds focused on precious metals. Q: What are the future growth prospects for Elemental Royalty Corp's portfolio? A: Fred Bell, CEO, mentioned that the company expects significant organic growth, with a projected 50% increase by 2029 from the existing portfolio. The addition of new assets like Panuko and Vizla could push growth up to 75%. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Elemental Royalty Corp? Here are five stocks we like better. Elemental Royalty posted record first-quarter results after the merger of EMX Royalty and Elemental Altus, with revenue up 83% year over year to CAD 24.3 million and adjusted EBITDA nearly CAD 18 million. Management said stronger metal prices, a larger portfolio and added scale are driving the improved performance. The company strengthened its balance sheet and shareholder returns by expanding its revolving credit facility to CAD 200 million, while still expecting to remain in a net cash position after recent transactions. It also introduced an inaugural dividend, payable in cash or XAUT, and completed an uplist to the main board of the Toronto Stock Exchange. Management sees meaningful growth ahead from both existing and development assets, with a portfolio concentrated in precious metals but increasingly exposed to silver and copper. The company pointed to ongoing expansion at Karlawinda, development progress at Timok and several other projects, and said it expects about 50% organic growth to 2029 from the current portfolio, rising to about 75% including Panuco and Vizsla. Steve Cohen's Point72 Disclosed 8.7% Stake In Elevation Oncology Elemental Royalty (NASDAQ:ELE) reported record quarterly results in its first full quarter following the merger of EMX Royalty Corporation and Elemental Altus Royalty, with management pointing to stronger metal prices, expanded scale and a larger royalty portfolio as key drivers of performance. Chief Executive Officer David Cole said the company is operating in a favorable environment for mining and royalty companies, citing strong commodity prices and improved capital markets recognition for the mining sector. He said the merger was intended to create scale in the royalty space and strengthen the company’s ability to allocate capital across a larger portfolio. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? “I’m very pleased with how that merger has come to fruition and the results that we’re seeing,” Cole said on the call. Chief Financial Officer Stefan Wenger said the company reported revenue of CAD 24.3 million for the quarter, an 83% increase over the prior year for Elemental. He said annualizing that figure puts the company near a CAD 100 million revenue run rate. → MP Materials Is Quietly Building a Rare Earth Powerhouse The company sold just under 5,000 gold equivalent ounces, or GEOs, during the quarter. Wenger said that level keeps Elemental on track with its full-year guidance and supports a production profile of about 20,000 GEOs annually. Adjusted EBITDA was nearly CAD 18 million, up 55% from the prior year, while operating cash flow was nearly CAD 15 million. Wenger said EBITDA could strengthen further as some expenses in the quarter were elevated by transaction-related activity, including merger closing costs, exchange uplistings, the inaugural dividend and the upsizing of the credit facility. → Micron Investors Face a High-Stakes Moment After the Latest Rally General and administrative expenses were CAD 5.5 million for the quarter. Wenger said that was above the annualized run rate he expects, which he put closer to CAD 16 million. Royalty generation expenses were described as on budget and in line with full-year expectations. Wenger also noted that Caserones was included in the revenue line as a royalty for the first full quarter, rather than being reflected as an investment. He said Caserones, Timok, Bonikro and Carlin were among the cornerstone assets driving results. Cole said the company has increased its revolving credit facility to CAD 200 million, a move he said demonstrates how the merger has improved Elemental’s access to capital and reduced its cost of capital. Wenger said the company has a CAD 150 million undrawn credit facility with a CAD 50 million accordion feature, as well as CAD 70 million on the balance sheet. Wenger said that even after the cash component of the Vizsla transaction announced the same morning as the call, the company expects to remain in a net cash position and continue pursuing transactions in the royalty space. Cole also highlighted the company’s inaugural dividend, which gives shareholders the option to receive payment in cash or in XAUT, the Tether Gold stablecoin. He said the payout ratio is modest because management still sees opportunities to invest capital to expand the portfolio. The company has also uplisted to the main board of the Toronto Stock Exchange from the TSX Venture Exchange. Cole said trading liquidity on Nasdaq and the TSX is now “multiples ahead” of where the two companies were on a combined basis before the merger, which he said could support future index inclusion. Cole said Elemental remains gold-focused while also increasing its silver exposure. He said the company intends to remain more than 50% precious-metals focused to support potential inclusion in precious-metals-focused index funds, including the GDXJ. He said the company currently has more than 60% of ongoing revenue from precious metals. Management said the company has about 300 mineral property assets in more than 20 countries, including about 200 royalties. Cole said more than CAD 100 million in annual exploration drilling is being undertaken across the portfolio by counterparties, which he described as a key source of long-term optionality. Executive Frederick Bell said record revenues were recorded during the quarter from Karlawinda, Leeville, Bonikro and Timok, while Caserones delivered a near-record quarter. He said strong copper prices are also benefiting the company, with copper the company’s second most material commodity exposure after gold. At Karlawinda, Bell said an expansion aimed at 150,000 ounces per year from the second half onward remains on track for commissioning in the third quarter. At Timok, he said the record quarter came from the upper zone, while Zijin is advancing development of the lower zone, which he said is expected to be much larger and is also subject to Elemental’s royalty. Bell pointed to several development-stage assets as potential contributors to future growth. At Laverton, he said Genesis is expected to update its five-year plan around the middle of the year or in the third quarter, and Elemental expects some royalty-covered ground to be included in that plan. At Cactus, Bell noted that Arizona Sonoran is being acquired by Hudbay, with a recent shareholder vote showing 99% approval. He said the move to a larger mining company could be positive for project development. He also cited AbraSilver’s Diablillos project, where a resource update was released during the week and a feasibility study and construction decision are expected this year. Bell said Fireweed is continuing work on an updated feasibility study for Mactung, expected in 2027, and described the tungsten project as a potential long-term contributor. He also discussed Dugbe, where the operator is updating a feasibility study and has discussed a construction decision in the second half of the year. Looking ahead, Bell said Elemental sees about 50% organic growth to 2029 from the existing portfolio, before the addition of Panuco and Vizsla. Including those assets, he said the growth profile rises to about 75% from current levels. During the question-and-answer session, Raymond James analyst Brian MacArthur asked about Bonikro’s outperformance. Bell said the stronger quarter was partly related to the timing of sales rather than a major change in ore moving in and out of royalty-covered areas. He said Bonikro was ahead of expectations on a quarterly basis but management is maintaining its prior view for the year. MacArthur also asked about Korali-Sud, which generated no revenue in the quarter. Bell said Elemental expects some residual payments this year related to previously mined royalty revenue and milestone payments. He added that the company is waiting for an updated mine plan following the acquisition of Allied Gold by Zijin. Cole closed the call by directing investors to a separate call on the Vizsla Silver transaction. He said the company continues to focus on assets with discovery optionality, which management believes is a key driver of long-term royalty valuation. Elemental Royalties (NASDAQ: ELE) is a publicly traded company that acquires and manages royalty and streaming interests in the mining sector. The firm focuses on securing long‑lived, low‑cost interests that provide ongoing, contractually defined payments or metal deliveries from producing and near‑term development mineral projects. By targeting royalties and streams rather than operating mines, the company seeks exposure to commodity price upside while avoiding the capital intensity and operating risks of miners. Elemental Royalties’ activities include sourcing and negotiating royalty and stream transactions, performing technical and commercial due diligence on potential assets, and actively managing a diversified portfolio of interests. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Elemental Royalty Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Denver, Colorado--(Newsfile Corp. - May 13, 2026) - Elemental Royalty Corporation (NASDAQ: ELE) (TSX: ELE) ("Elemental" or the "Company") is pleased to report results for the three months ended March 31, 2026. For the quarter, Elemental delivered revenue of US$24.3 million, and adjusted EBITDA1 of US$17.7 million. Q1 2026 Financial Highlights Record quarterly revenue of US$24.3 million, up 83% over revenue plus attributable share of Caserones in Q1 20251; Gold Equivalent Ounces ("GEOs") of 4,983 for Q1 2026 (4,606 in Q1 2025), driven by significant contributions from Karlawinda, Bonikro, Timok, and Caserones; Record adjusted EBITDA of US$17.7 million, up 55% over adjusted EBITDA1 in Q1 2025, reflecting increased operating leverage and portfolio performance; Operating cash flow of US$14.5 million, up 340% over adjusted operating cash flow1 in the comparative period demonstrating strong cash flow conversion; and Cash and cash equivalents as of March 31, 2026 of US$69.1 million and working capital1 of US$92.5 million, demonstrating financial flexibility for growth. David M. Cole, Elemental Chief Executive Officer, commented: "Q1 saw a strong start to the year for Elemental, with a significant increase in revenue supported by strong metal prices and contributions from Bonikro, Karlawinda, Timok, and Caserones. Following the transformational merger with EMX Royalty, Elemental now benefits from a larger, more diversified royalty portfolio with enhanced scale, resilience, and growth potential. During the quarter, we strengthened our financial capacity through a new US$150 million revolving credit facility, with a US$50 million accordion feature, providing enhanced flexibility to pursue meaningful growth opportunities. With a stronger balance sheet, supportive metal price environment, and broader base of cash-flowing assets, Elemental is well positioned to build on its Q1 momentum and continue delivering value for our shareholders." Investor Webinar An investor webinar will be held on Thursday May 14, 2026, starting at 11am Eastern Time, to discuss these results, followed by a question-and-answer session. To register for the investor webcast, please click the link below: https://app.webinar.net/1jd8kJRkVWo A replay of the event will be available on the Elemental website following the presentation. Summary of Financial Highlights for the Period Ended March 31, 2026 and 2025: Key Strategic Developments Q1 2026 was a period of continued strategic execution for Elemental, building on the transformational steps completed in 2025 and further strengthening the Company's position as a growing mid-tier royalty and streaming company. Key developments during and subsequent to the quarter included: Achieved a historic milestone by declaring an inaugural annual dividend of US$0.12 per share, payable quarterly to qualifying shareholders in either cash or Tether Gold XAU₮ tokens, reflecting management's confidence in the sustainability of the Company's cash flow profile while maintaining capacity for dividend growth in the coming quarters. Strengthened financial capacity through an upsized revolving credit facility of US$150 million with a US$50 million accordion feature, providing up to US$200 million of additional capital to provide increased financial flexibility and support for more material future transactions. Benefited from advancement across key royalty assets, including Timok, Caserones, Karlawinda, and Laverton, where operators continued to progress development, optimization, production, and exploration activities that support near-term cash flow visibility and long-term portfolio optionality. Continued to evaluate a pipeline of potential royalty and streaming opportunities across precious and base metals, supported by an enhanced balance sheet, diversified portfolio, and disciplined capital allocation approach. Post Quarter Activities TSX Listing Post quarter end, on April 7, 2026, Elemental shares commenced trading on the Toronto Stock Exchange. The uplist to the main exchange reflects the progress the Company has made in building a disciplined, growth-oriented public company, and has already been beneficial in enhancing our capital markets visibility. Western Queen On May 4, 2026, Elemental entered into a transaction with owner and operator Rumble Resources Ltd ("Rumble") to acquire a 2.5% Net Smelter Return royalty on the Western Queen Gold Project for a total consideration of A$10 million (approximately US$7.25 million) with A$5 million to be paid at closing and A$5 million on satisfaction of certain milestone conditions. This upgrades and replaces an existing gold royalty of A$6-20 per ounce of gold produced. Rumble has made material progress in the mine planning and permitting processes, providing confidence in the team's ability to advance the Western Queen Project toward production stage. First Quarter 2026 Performance by Asset The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the first quarter of 2026 and 2025: Qualified Person Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified, and approved the above technical disclosure. About Elemental Royalty Corporation. Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus's track record of accretive royalty acquisitions with EMX's strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise. Elemental Royalty trades on NASDAQ and on the TSX under the ticker symbol "ELE". For further information, contact: www.elementalroyalty.com Phone: +1 (604) 688-6390 NASDAQ: ELE | TSX: ELE | ISIN: CA28620K1066 | CUSIP: 28620K Cautionary note regarding forward-looking statements This news release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental's expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2025. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management's best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Nasdaq Stock Market LLC, or the TSX or its Regulation Service Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release. Notes Royalty revenue received carries no direct cash cost of sales: distributions from associates related to Elemental's effective royalty on Caserones were received net of Chilean taxes and have no other costs. Non-IFRS Financial Measures The Company has included performance measures which are non-IFRS and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. The non-IFRS measures do not have any standard meaning under IFRS Accounting Standards and other companies may calculate measures differently. Caserones Reclassification Effective November 13, 2025, the shareholders of SLM California executed an amendment to the entity's shareholder agreement, resulting in the Company reassessing the classification of its interest in SLM California, which holds the Company's Caserones royalty. As a result of the amendment to the shareholder agreement, the Company determined that the revised arrangement constituted a joint operation in accordance with IFRS 11 Joint Arrangements. Consequently, on November 13, 2025, the Company discontinued equity accounting under IAS 28 Investments in Associates and Joint Ventures and began recognizing its proportionate share of the assets, liabilities, revenues, and expenses of SLM California as a joint operation. As a result, there are no adjustments in the current period for revenue plus attributable share of Caserones, depletion plus attributable share of Caserones, or tax expense plus attributable share of Caserones. Reconciliation of Adjusted EBITDA: The following is the reconciliation of adjusted EBITDA: The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently. Reconciliation of Revenue, Depletion and Tax Expense plus Attributable Share of Caserones: Revenue plus attributable share of Caserones is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental's effective royalty on the Caserones copper mine. Management uses revenue plus attributable share of Caserones to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as revenue, investors may use revenue plus attributable share of Caserones to evaluate the results of the underlying business, particularly as the revenue plus attributable share of Caserones may not typically be included in operating results. Management believes that revenue plus attributable share of Caserones is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company's core operating results from period to period. Revenue plus attributable share of Caserones is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. Depletion plus attributable share of Caserones and tax expense plus attributable share of Caserones are non-IFRS measures which include depletion and tax expense from the Caserones royalty asset respectively, consistent with the recognition of revenue plus attributable share of Caserones as described above. The following is the reconciliation of revenue plus attributable share of Caserones: The following is the reconciliation of depletion plus attributable share of Caserones: The following is the reconciliation of tax expense plus attributable share of Caserones: Reconciliation of Adjusted Cash Flows from Operating Activities: Adjusted cash flows from operating activities is a non-IFRS measure which includes dividends from the Caserones royalty asset. The following is the reconciliation of adjusted cash flows from operating activities: Reconciliation of Gold Equivalent Ounces Sold Elemental's revenue plus attributable share of Caserones is converted to an attributable gold equivalent ounce, or GEO, basis by dividing the royalty and other revenue from associates in a period by the average gold price for the same respective period. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently. The following is the reconciliation of gold equivalent ounces sold: To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297204