Versamet Royalties Corporation
Versamet Royalties Corporation is a Vancouver-headquartered royalty and streaming company, incorporated in 2011 and dual-listed on the TSXV and Nasdaq under the ticker VMET. Rather than operating mines directly, Versamet holds a diversified book of royalties and streams across gold, silver, copper, zinc, graphite and uranium projects in Peru, the United States, Africa and Canada, including a royalty interest in the producing Greenstone gold mine in Ontario. Versamet holds no operated mine of its own -- its production-stage classification reflects that its portfolio includes royalties on producing assets, consistent with how this database treats other royalty/streaming companies.
Notable vs. Peers
- Financials score of 1/10 is weaker than the peer average of 6.5/10.
Your Rankings
Versamet Royalties 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 |
|---|---|---|---|---|---|
Greenstone Equinox Gold · Canada Stream on 1.26% of production, minimum 350 oz/month. | Gold | Stream | 1.26%min. 350 oz/month | Production | — |
Kiaka West African Resources · Burkina Faso | Gold | Royalty NSR | 2.7% | Production | — |
Rosh Pinah (RP2.0) Appian · Namibia 90% silver stream. Named among the 7 currently cash-generating interests in the FY2025 20-F; expansion (~95% complete per one source) is on the underlying operating mine, not a pre-production project. | Silver | Stream | 90% | Production | — |
Kolpa Endeavour · Peru | Copper | Stream | 95.8% | Production | — |
Toega West African Resources · Burkina Faso 2.7% NSR. Pre-production (behind schedule) -- stage left null, compound phrase not one enum value. | Gold | Royalty NSR | 2.7% | — | — |
Cuiu Cuiu Cabral Gold · Brazil 1.5% NSR. First gold targeted Sept 2026. | Gold | Royalty NSR | 1.5% | Construction | Sept 2026 (first gold); Q4 2026 (commercial) |
Eskay Creek Skeena Resources · Canada Gold-silver stream, acquired for US$360M, closed Q2 2026. Rate not disclosed in sources reviewed. Operator Skeena Resources' Eskay Creek redevelopment was 49% complete and fully permitted as of Feb 2026 (C$713M capex); initial production is targeted for Q2 2027, with commercial production targeted Q3 2027. | Gold | Stream | — | — | Q2 2027 (initial), Q3 2027 (commercial) |
El Pilar Southern Copper · Mexico 1% GRR. Operator Southern Copper's own July 2026 disclosure confirms this DB's existing H2 2029 figure: preliminary site works (power lines, water pipelines, access roads) begin Sept 2026, construction start targeted 1Q27, initial production targeted 2H29 (US$551M SX-EW project, 317Mt P&P copper-oxide reserves, 18-year mine life). | Copper | Royalty GRR (gross revenue royalty) | 1% | — | H2 2029 |
Santa Rita Operator not disclosed Named as cash-generating in the FY2025 20-F alongside Mercedes; country/commodity/rate ambiguous between the two in sources reviewed ('Brazil / Mexico per sources') -- left null rather than guessed which is which. | — | Other | — | Production | — |
Mercedes Operator not disclosed Named as cash-generating in the FY2025 20-F alongside Santa Rita; country/commodity/rate ambiguous between the two in sources reviewed ('Brazil / Mexico per sources') -- left null rather than guessed which is which. | — | Other | — | Production | — |
Management Team
Chief Executive Officer and Director of Versamet Royalties Corporation, appointed 1 April 2025. 20 years of experience in investment banking and as an executive officer in the mining industry; overseeing over US$300 million in acquisitions since 2022 as Versamet's CEO, growing the company's market cap to approximately US$500 million (as of a mid-2026 measure). Career: Co-founder, Maverix Metals Inc. (2016-2022, through its real sale to Triple Flag Precious Metals Corp for over US$700 million); EVP Corporate Development, Esperanza Resources (through its real acquisition by Alamos Gold Inc., already tracked in this DB, AGI, 2013).
President of Versamet Royalties Corporation, promoted Feb 2026 (also VP Corporate Development). Over 20 years of experience in the mining sector, including 12 years in investment banking advising on over $15 billion in mining M&A transactions (bank names not confirmed to a primary-source standard this pass). BComm, University of British Columbia. Career: SVP Corporate Development, Alexco Resource Corp. (through its real acquisition by Hecla Mining Company, already tracked in this DB, HL, Sep 2022); roles of increasing responsibility, Capstone Mining Corp.
Chief Financial Officer of Versamet Royalties Corporation since the company's 2022 launch. CPA, CA with over 20 years of financial experience across mining and the royalty industry, having led reporting, regulatory, treasury, tax and risk-management functions and contributed to M&A, a U.S. listing and gold-sales operations at mid-tier producers. Career: VP Finance, Galiano Gold Inc. (2016-2017); Financial Controller, Primero Mining Corp. (through its real acquisition by First Majestic Silver Corp., already tracked in this DB, AG, May 2018); CFO, Royalty North Partners Ltd.; 8 years, senior manager assurance, PricewaterhouseCoopers (London and Vancouver). Independent director, BC Hydro & Power Authority (2021-2024); director, Lundin Mining Corporation (since 2025, concurrent, not scored); the exact status of a separately-reported "CFO, Eclipse Gold Mining Corp." role (variously described as since-2019 and possibly concurrent) could not be confirmed to a primary-source standard this pass and is noted but not scored.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Two large cornerstone holders arrived together in November 2025: Tether Investments and the Lundin Family Trusts each bought 11.8 million shares, about 12.7% apiece, and each took the right to nominate a director. Tether later added a further C$22 million through a private placement. The important detail is where those shares came from -- they were Royal Gold's entire holding, so an established royalty major sold out completely to fund the two new arrivals. Equinox Gold, the only mining producer left on the register, is down to 2.7% and has also been selling.
No notable insiders tracked for this miner yet.