Elemental Royalty Corporation
Elemental Royalty Corporation is a mid-tier, gold-focused royalty and streaming company formed by the merger of Elemental Altus and EMX Royalty, completed on 13 November 2025, combining Elemental Altus's accretive royalty-acquisition track record with EMX's royalty-generation strengths. The portfolio spans 18 producing assets and 200+ royalties globally, anchored by cornerstone assets operated by major mining partners. Shares began trading on the TSX on 7 Apr 2026 (symbol ELE), concurrent with a voluntary delisting from TSXV, without issuing new shares. The company was subsequently added to the S&P/TSX Global Gold Index (Jun 2026) and the Russell 3000/2000 indexes (26 Jun 2026). Q1 2026 delivered record revenue of US$24.3m (+83% y/y) and adjusted EBITDA of US$17.7m; cash was US$69.1m and working capital US$92.5m as at 31 Mar 2026. The company also upsized its revolving credit facility to US$150m (with a US$50m accordion, up to US$200m total capacity), maturing Feb 2029, to support future royalty/streaming transactions. CEO is David M. Cole; President & COO is Frederick Bell.
Jurisdiction (40%, counts 100% here)9/10
Canadian-domiciled royalty company; as for other royalty companies, the rating reflects its home jurisdiction rather than any single mine.
Infrastructure (40%)Not scored
A royalty/streaming company holds interests in other operators' mines rather than building its own, so a flagship infrastructure checklist isn't scored for it.
Nearby producing mine (20%)Not scored
Not scored for a royalty/streaming company, which doesn't build or run a mine of its own.
Your Rankings
Elemental Royalty Corporation does not operate mines, so it has no technical study of its own. What it holds instead is a book of royalty and stream interests in other companies' assets -- the portfolio below. Only figures the company has actually disclosed are shown; nothing here is estimated.
| Asset | Commodity | Interest | Rate / price | Stage | Next Production |
|---|---|---|---|---|---|
Caserones MLCC (JX Nippon subsidiary) · Chile | Copper | Royalty NSR | 1.3036% | Production | — |
Karlawinda Capricorn Metals · Australia | Gold | Royalty NSR | 2% | Production | — |
Bonikro Allied Gold · Côte d'Ivoire | Gold | Royalty NSR | — | Production | — |
Korali-Sud Allied Gold · Côte d'Ivoire | Gold | Royalty NSR | — | Production | — |
Timok Zijin Mining · Serbia | Copper | Royalty NSR | 0.3625% | — | — |
Laverton Gold Project Genesis Minerals · Australia | Gold | Royalty GRR | 2% | — | — |
Jasper Hills Brightstar Resources · Australia | Gold | Royalty GRR | 2% | — | Q3 2026 (Lord Byron mining start); H2 2026 (mill restart) |
Management Team
Chief Executive Officer of Elemental Royalty Corporation. Economic geologist (geology degrees, Fort Lewis College and Colorado State University) with over two decades as long-time CEO and co-founder of EMX Royalty Corp., which merged with Elemental Altus Royalties in 2025 to form Elemental Royalty Corporation. Career: 17 years in senior geologic and management positions at Newmont Mining Corporation on four continents, before founding EMX Royalty Corp. in 1996.
President and Chief Operating Officer of Elemental Royalty Corporation; founded Elemental Royalties Limited in 2016 (private) and advanced it through a 2020 listing and mergers with Altus Strategies PLC (2022) and EMX Royalty Corp. (2025) to form today's ELE. History degree, University of Edinburgh. International mining executive with 15 years' experience in the UK, Canada and Australia. Career: Managing Director, Goldcrest Resources plc (London-listed gold explorer, 2012-2016, assembled a Ghana licence portfolio, raised funds for a 2014 AIM IPO); General Manager, Resource Star Ltd (ASX-listed uranium explorer, from age 25).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Tether -- the company behind the USDT stablecoin -- is the cornerstone shareholder at 31.9%, having paid roughly US$100 million in cash in June 2025 to buy out La Mancha's entire stake, and it holds an option over a further 34.4 million shares. Tether frames this as a strategic move into gold and hard-asset-backed finance rather than as a portfolio allocation, and it also backed Elemental's merger with EMX Royalty, which completed in November 2025. Set against that: Tether is not a mining company, La Mancha was the one dedicated resource fund on the register and it exited completely, and there are no insider transactions on record.
No notable insiders tracked for this miner yet.