LunR Royalties Corp.L
LunR Royalties Corp. (TSX: LUNR) is a newly-incorporated (2025) royalty and streaming company, part of the Lundin Group of companies. Its portfolio comprises a cash-flowing life-of-mine silver stream on Lundin Gold's producing Fruta del Norte gold mine in Ecuador (LunR purchases 100% of Fruta del Norte's silver production at 10% of the prevailing silver spot price at each delivery), plus 1.00% and 1.38% NSR royalties on NGEx Minerals' Lunahuasi and Los Helados copper-gold exploration projects respectively, in the emerging Vicuna District spanning the Argentina/Chile border -- among the largest undeveloped copper-gold porphyry discoveries globally. LunR completed the FDN Stream acquisition on 28 May 2026 for US$670.2 million (paid entirely in LunR shares issued to Lundin Gold, which were then distributed to Lundin Gold's own shareholders via a dividend-in-kind on 11 June 2026), and received conditional approval to graduate to the TSX around the same time. The Stream became effective 1 March 2026, with first silver deliveries by end of Q2 2026 -- LunR's Q2 2026 results reported its first-ever quarterly revenue and positive cash flow. In April 2026, Lundin Mining Corp. acquired the 30.9% interest in Los Helados not already owned by NGEx from JX Advanced Metals Corporation.
Notable vs. Peers
- Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 6.8/10.
- Financials score of 5.5/10 is weaker than the peer average of 7.1/10.
Jurisdiction (40%, counts 100% here)9/10
Vancouver-based royalty company and part of the Lundin Group; as for other royalty companies, the rating reflects its home jurisdiction rather than any single mine. Its main revenue source, Fruta del Norte, is in Ecuador, and its exploration-stage royalties (Lunahuasi, Los Helados) are on the Argentina-Chile border.
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
LunR Royalties Corp. 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.
No individual royalty or stream interests are recorded for this company yet.
Management Team
Chairman of the Board of Lundin Mining Corporation since 2022, part of the Lundin Group of Companies founded by his late father, Adolf H. Lundin; also President, Chief Executive Officer & Chair of LunR Royalties Corp. and Chairman & Director of Fireweed Metals Corp. President and CEO of Filo Mining Corp. (2017-2019), overseeing the major Filo del Sol copper-gold-silver porphyry discovery, then Independent Chairman (as Filo Corp.) through BHP and Lundin Mining's completed Jan 2025 joint acquisition forming Vicuna Corp. President, CEO and Director of Josemaria Resources Inc. (2019-2022), through its own Apr 2022 acquisition by Lundin Mining. Independent Director of Africa Energy Corp. Began his career with several Lundin Group companies before moving into finance, ultimately co-heading the London office of an international securities firm. Studied Mining Technology and Marketing Management, British Columbia Institute of Technology.
CFO of LunR Royalties Corp., appointed effective 21 Jan 2026, previously the company's VP of Corporate Development and Investor Relations. Over 10 years of financial and technical experience in the resource industry spanning capital markets and project development.
Chief Investment Officer of LunR Royalties Corp.
Corporate Controller of LunR Royalties Corp. Over 15 years of accounting and finance experience, primarily in the mining industry. C.A., CPA.
Corporate Secretary of LunR Royalties Corp.
President and Chief Executive Officer of Lundin Gold Inc. since 7 Nov 2025, succeeding Ron Hochstein; also a director of LunR Royalties Corp. and Fireweed Metals Corp. Before Lundin Gold, CEO of Filo Corp. (2020-2025), guiding it to a US$4.5B acquisition by BHP and Lundin Mining (an ~1,700% shareholder return); before that, numerous senior roles within the Lundin Group of Companies since 2009 (NGEx Resources, Filo Mining, Josemaria Resources, Lundin Mining), most recently VP Corporate Development and Projects. P.Eng. (Ontario); BASc, Queen's University; MBA, University of British Columbia.
20-year mining executive; CFA charterholder; appointed CEO of Montage Gold in February 2024, during which the company's market cap grew from ~$140M to over $4B and construction of Koné was launched; also a director of LunR Royalties Corp.
Executive Vice President of Silverco Mining Ltd.; also a director of LunR Royalties Corp. (P.Eng., Ontario) 20 years of mine operations, project development and capital markets experience. As Senior VP of Corporate Development at SilverCrest Metals she helped secure over $250 million in financing and facilitated its $1.5 billion sale to Coeur Mining in October 2024. Former precious-metals equity research analyst; earlier mining engineer roles at Inco and Placer Dome. Director at Orezone Gold and Americas Gold and Silver; previously on the Maverix Metals board. Mining Engineering degree, Queen's University.
Director of LunR Royalties Corp., appointed effective 7 Aug 2026. Group Head of Corporate Development at Newmont Corporation; 15+ years in investment banking metals and mining, most recently as Managing Director at Bank of America.
Director of LunR Royalties Corp. 16+ years in commodity trading and commercial leadership; Regional Team Leader for Latin America and West Africa at Shell Western Supply and Trading, overseeing crude-oil desks handling approximately 1 million barrels per day.
President and CEO of NGEx Minerals Ltd., a Lundin Group company advancing the Los Helados and Lunahuasi copper-gold projects in Chile and Argentina, since 2019; also a director of LunR Royalties Corp. and Fireweed Metals Corp. Geologist (PhD Geosciences, University of Arizona) with 30+ years of experience in international mineral exploration and corporate management. With the Lundin Group since 2007: CEO of Sanu Resources Ltd. (2007-2009), CEO of Josemaria Resources Inc., and concurrently CEO of Filo Corp. (2016-2017, a separate Lundin Group entity, later jointly acquired by Lundin Mining and BHP in 2025 to form Vicuna Corp., years after his tenure there). Before the Lundin Group, with Teck Cominco Ltd, managing exploration offices across South America and finishing as General Manager of Exploration for North America and Europe-Africa.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
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