Elemental Royalty Corporation
Elemental Royalty Corporation is a mid-tier, gold-focused royalty and streaming company formed via the 2026 merger of Elemental Altus and EMX Royalty, 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.
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 Underlying royalty is a 2.88% NSR; Elemental's attributable share is ~1.3036% (ratePct records the attributable share, the figure relevant to Elemental's own economics). Received net of Chilean taxes with no other costs, per the FY2025 release ('royalty revenue received carries no direct cash cost of sales'). | Copper | Royalty NSR | 1.3036% | Production | — |
Karlawinda Capricorn Metals · Australia 2.0% NSR, uncapped, producing. | Gold | Royalty NSR | 2% | Production | — |
Bonikro Allied Gold · Côte d'Ivoire Rate disclosed as 'up to 4.5%, capped' -- a variable structure, not a single flat rate, so ratePct is left null. | Gold | Royalty NSR | — | Production | — |
Korali-Sud Allied Gold · Côte d'Ivoire Rate disclosed as 'up to 3.0%' -- variable, so ratePct left null. Company states no 2026 revenue is expected from this royalty despite producing status. | Gold | Royalty NSR | — | Production | — |
Timok Zijin Mining · Serbia 0.3625% NSR, uncapped, explicitly not repurchasable. Cu/Au deposit; COPPER used per first-listed convention. Zijin's Timok project is genuinely split-stage: the Upper Zone (Cukaru Peki) has been in commercial production since Oct 2021, while the deeper Lower Zone block-cave mining was, per an Aug 2023 company statement, anticipated to begin in '7 to 10 years' (roughly 2030-2033) -- no more specific or updated date has been found. This DB's 'development/early-production' characterization matches that real split; stage left null because no single Stage value captures a two-zone asset straddling production and pre-development. | Copper | Royalty NSR | 0.3625% | — | — |
Laverton Gold Project Genesis Minerals · Australia 2.0% GRR (gross revenue royalty), uncapped -- acquired for US$52M (A$80M), described as a cornerstone asset. Operator Genesis Minerals' most recent (June 2026) long-term plan names Beasley Creek, within the broader Laverton land package, as a development priority, but no specific production start date has been disclosed for it. | Gold | Royalty GRR | 2% | — | — |
Jasper Hills Brightstar Resources · Australia 2.0% GRR, uncapped. Operator Brightstar Resources' Lord Byron open pit (part of the Jasper Hills package, alongside Fish and Gilt Key) is scheduled to begin mining Q3 2026, with ore processed at Brightstar's own mill, planned to be refurbished and restarted in H2 2026 -- the nearest-term disclosed production date across ELE's entire development-stage book. | 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 (not scored as an external prior company -- it is this company's own direct predecessor). Career: 17 years in senior geologic and management positions at Newmont Mining Corporation (already tracked in this DB, NEM) 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 is also backing Elemental's proposed merger with EMX Royalty. 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.