Metalla Royalty & Streaming Ltd.
Metalla Royalty & Streaming Ltd. is a precious-metals-focused royalty and streaming company (originally incorporated 1983 as Excalibur Resources Ltd., renamed Dec 2016) with interests across Australia, Brazil, Mexico and the United States, including six currently producing royalties/streams. The company reported record 2025 results (revenue of US$11.74 million, up ~100% y/y) and continued the momentum into Q1 2026: revenue of US$3.06 million (up 78% y/y), a return to net income (US$111.0 thousand), and Adjusted EBITDA of US$1.9 million (+115% y/y), with an operating cash margin of US$4,848 per GEO across its six producing royalties. As at 31 Mar 2026 the company held US$10.0 million in cash and US$12.3 million drawn on its revolving credit facility, against total assets of US$270.0 million and equity of US$253.1 million. 2026 production is guided to weight toward H2 as Tocantinzinho and Wharf ramp toward full-year guidance and La Parrilla and Amalgamated Kirkland contribute first cash flows, alongside continued advancement of cornerstone development assets Cote-Gosselin and Taca Taca. Brett Heath is Chief Executive Officer; Saurabh Handa is Chief Financial Officer.
Your Rankings
Metalla Royalty & Streaming Ltd. 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 |
|---|---|---|---|---|---|
Tocantinzinho G Mining Ventures · Brazil 0.75% GVR (gold value royalty), producing. Q1 2026: 253 attributable GEOs. | Gold | Royalty GVR | 0.75% | Production | — |
Wharf Coeur Mining · USA 1.0% GVR, producing. Q1 2026: 115 attributable GEOs. | Gold | Royalty GVR | 1% | Production | — |
Aranzazu Aura Minerals · Mexico 1.0% NSR, producing. Multi-metal mine (Au/Ag/Cu); GOLD used as the commodity tag per this script's first-listed convention, full mix noted here. Q1 2026: 133 attributable GEOs. | Gold | Royalty NSR | 1% | Production | — |
Endeavor Polymetals Resources · Australia 4.0% NSR, producing. Base-metals mine (Pb/Zn/Ag) -- neither Pb nor Zn has a Commodity enum slot, so tagged OTHER; real mix noted here. Q1 2026: 57 attributable GEOs. | Other | Royalty NSR | 4% | Production | — |
La Guitarra Sierra Madre Gold and Silver · Mexico 2.0% NSR, subject to a 1.0% buyback for $2.0M, producing. Au/Ag mine; GOLD used per first-listed convention. Q1 2026: 41 attributable GEOs. | Gold | Royalty NSR | 2% | Production | — |
La Encantada First Majestic Silver · Mexico 100% GVR, capped at 1.0 koz Au/yr -- commodity tagged GOLD as the research's own source table states ('Au'), even though the underlying mine is primarily silver: this is a gold-value royalty specifically, settled/denominated in gold terms. Q1 2026: 30 attributable GEOs. | Gold | Royalty GVR | 100% | Production | — |
Côté-Gosselin IAMGOLD/Sumitomo · Canada 1.5% NSR, covering ~all of Gosselin and <10% of Côté. One of MTA's two self-named 'material assets'. Côté Gold itself has been in commercial production since 2024 (IAMGOLD); the Gosselin zone specifically remains in exploration/resource-definition (a ~10,000m 2026 drill program testing its north/north-east extensions), with IAMGOLD targeting an updated, consolidated Côté-Gosselin mine plan and reserve estimate in Q4 2026. No discrete production start date has been disclosed for Gosselin as its own mining phase -- this is a real, current gap, not a research miss. | Gold | Royalty NSR | 1.5% | — | — |
Taca Taca First Quantum Minerals · Argentina 0.42% NSR, buyback contingent on reserves. Cu/Au project; COPPER used per first-listed convention (also the dominant commodity by project type -- Cu porphyry). One of MTA's two self-named 'material assets'. First Quantum's Feb 2026 NI 43-101 technical report (US$5.3B capex, initial 40Mtpa expanding to 60Mtpa, 35-year mine life) targets first production in the early 2030s: ESIA completion targeted H1 2026, RIGI application by July 2027, earliest material capital spend from 2028. | Copper | Royalty NSR | 0.42% | — | Early 2030s |
Castle Mountain (South Domes) Equinox Gold · USA 5.0% NSR. Equinox Gold's 2021 Phase 2 feasibility study lays out a nine-pit mining sequence (JSLA, Jumbo, Oro Belle, East Ridge, South Domes) starting at JSLA and ending at South Domes -- South Domes is the LAST pit mined in the phased sequence, not an early one -- but no specific calendar production date has been disclosed for this pit individually. | Gold | Royalty NSR | 5% | — | — |
Copper World Hudbay Minerals · USA 0.315% NSR, with a ROFR on an additional 0.360%. Hudbay's Copper World DFS was on track for completion mid-2026 (85%+ complete as of March 2026), with a project sanctioning/construction decision expected later in 2026; if sanctioned, Hudbay guides to ~2029 first production (a ~50% lift to Hudbay's consolidated copper output, to roughly 250,000 t/yr). Hudbay holds 70% of the project via a Jan 2026 JV with Mitsubishi (30%). | Copper | Royalty NSR | 0.315% | — | ~2029 (if sanctioned in 2026) |
Wasamac Agnico Eagle · Canada 1.5% NSR, subject to a 0.5% buyback for C$7.5M. Agnico Eagle's own project materials place Wasamac much further out than most of MTA's other development assets: a 2026 evaluation is meant to support permitting through 2030, with construction potentially starting in 2031 and initial production as early as 2033. | Gold | Royalty NSR | 1.5% | — | As early as 2033 |
Amalgamated Kirkland/North AK Agnico Eagle · Canada 0.45% NSR. Development-stage, first cash flow expected 2026 per the release; stage left null (no specific gate evidenced despite the near-term timeline). | Gold | Royalty NSR | 0.45% | — | First cash flow expected 2026 |
La Parrilla Silver Storm Mining · Mexico 2.0% NSR. Development-stage, first cash flow expected 2026 per the release; stage left null. | Silver | Royalty NSR | 2% | — | First cash flow expected 2026 |
Gurupi G Mining Ventures · Brazil Tiered NSR (1.0%/2.0%/1.0%) -- not reducible to one rate, so ratePct left null and the full tier structure recorded here instead. As of G Mining Ventures' most recent (Jan 2025) guidance, Gurupi remains in exploration/permitting (resource expansion via a 720km² high-resolution survey and core relogging), not construction -- no production date has been disclosed, unlike G Mining's flagship Oko West project in Guyana (construction underway since Oct 2025). | Gold | Royalty NSR | — | — | — |
Management Team
President and Chief Executive Officer of Metalla Royalty & Streaming Ltd. Career in structured finance, corporate finance and investment management. Career: Chairman and CEO, High Stream Corporation (a specialty streaming and royalty consulting company working with First Mining Finance and other private equity funds), through its real, completed Aug 2016 acquisition by Metalla; earlier, President of a private streaming company (name not disclosed in sources found) that deployed US$11 million across 4 producing streaming transactions.
Chief Financial Officer of Metalla Royalty & Streaming Ltd. since Nov 2020 (CPA, CA). Over 15 years' senior-level mining-industry finance experience; also Director and Audit Committee Chair of K92 Mining Inc. Career: CFO and Secretary, Titan Mining Corp. (2017-2018, real US zinc producer); VP Finance, Imperial Metals Corp. (2016-2017, already tracked in this DB, III); earlier CFO roles at Yellowhead Mining Inc. and Meryllion Resources Corp., and Controller at SouthGobi Resources Ltd.; independent consulting through Handa Financial Consulting Inc. between engagements.
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 International, the stablecoin issuer, has been buying this stock on the open market almost daily for months as part of a publicly reported push into gold-royalty companies, raising its stake to roughly 14%. EuroPac Gold Fund and ASA Gold & Precious Metals (advised by Merk Investments) also hold real specialist positions. A director made one clean on-market purchase alongside Tether's buying, with no offsetting selling found.
No notable insiders tracked for this miner yet.