Royalty & Streaming Companies
A royalty or streaming company doesn't build or run mines itself. Instead, it hands a miner upfront cash — to fund construction, an acquisition, or general growth — in exchange for a permanent slice of that mine's future production: a fixed percentage of revenue (a royalty) or the right to buy a set share of output at a low, locked-in price (a stream). That structure means high margins and no direct exposure to the operating costs, capex overruns, or exploration risk that come with actually running a mine. It's a fundamentally different business from the roughly 800 operating miners covered elsewhere on this site, which is why they get their own page rather than being folded into the main directory.
This page stays deliberately compact: a stat strip of the figures that are cleanly comparable across the whole roster (price, market cap, cash, debt), plus each company's description, and a filter bar over the handful of portfolio facts that are disclosed widely enough to sort a 15-company roster by — commodity exposure, size, producing-asset count, and dividend record. The rest of the structured detail — development and exploration counts, attributable GEOs, credit facilities, and the individual royalty and stream interests with their operators, rates and countries — lives on each company's own page, linked below. What you won't find anywhere here is NAV or P/NAV: those come from an operator's technical study, and a company that doesn't operate mines never produces one.
Wheaton is a Canadian-domiciled royalty/streaming company, not an operator -- it holds no mines and bears no direct jurisdiction/operating risk of its own. This score reflects Canada as the corporate domicile only; the underlying jurisdiction risk actually sits with its ~48 streaming/royalty counterparty mines and projects worldwide (e.g. Salobo/Brazil, Peñasquito/Mexico, Antamina/Peru), which this single-country field cannot represent. See description for the business-model caveat.
Wheaton Precious Metals Corp. provides upfront capital to mining companies in exchange for the right to purchase a fixed percentage of a mine's future silver/gold (and other precious metal) production at a low, fixed cost, generating high-margin cash flow without direct operating, capex or exploration risk. Its streaming/royalty portfolio spans 22 operating mines and 26 development/other projects, including Salobo (Brazil), Peñasquito (Mexico) and Antamina (Peru, where Wheaton announced its largest-ever streaming transaction in Q1 2026, in partnership with BHP). Haytham Hodaly is President and CEO; Gary Brown is Senior VP and CFO. Q1 2026 was a record quarter: $901 million revenue, $582 million net earnings, $766 million operating cash flow.
View full profile →Franco-Nevada is a Canadian-domiciled royalty/streaming company, not an operator -- it holds no mines and bears no direct jurisdiction/operating risk of its own. This score reflects Canada as the corporate domicile only; the underlying risk actually sits with its 430+ royalty/streaming counterparty assets across 27 countries, which a single-country field cannot represent.
Franco-Nevada is the largest gold-focused royalty and streaming company. It provides upfront capital to mining companies in exchange for royalty or streaming interests in future production, generating high-margin cash flow without direct operating, capex, or exploration risk. Its portfolio spans over 430 assets across 27 countries (121 cash-flow producing as of 2025), balanced across gold (~70%), silver, PGMs, and ~10% energy/base metals. Early 2026 deployed over $500M in fresh capital, including a $100M gold stream on Casa Berardi (Orezone Gold), a $250M NSR package on i-80 Gold's Nevada assets, a C$55M acquisition of six Victoria Gold royalties, and an A$170M royalty on Minerals 260's Bullabulling project. Because it has no operating mines, this record's operating fields (digSiteType, construction milestones, per-project economics) do not apply in the normal operator sense.
View full profile →Royal Gold is a US-domiciled (Denver) royalty/streaming company, not an operator -- it holds no mines and bears no direct jurisdiction/operating risk of its own. This score reflects the US corporate domicile only; the underlying risk actually sits with its diversified global royalty/streaming portfolio, which a single-country field cannot represent.
Royal Gold acquires royalty and streaming interests and finances mine development/exploration in exchange for those interests, across gold, silver, copper, and a range of other metals. Following a wave of transformative 2025 acquisitions, Royal Gold reported record Q1 2026 revenue, operating cash flow, and earnings, added a $600M accordion feature to its credit facility (lifting potential commitments to $2.0B), and has actively been repaying debt while rebuilding liquidity -- 2026 guidance points to a 17% five-year growth outlook. The company increased its annual dividend for the 25th consecutive year. Because it has no operating mines, this record's operating fields (digSiteType, construction milestones, per-project economics) do not apply in the normal operator sense.
View full profile →Triple Flag is a Canadian-domiciled royalty/streaming company, not an operator -- it holds no mines and bears no direct jurisdiction/operating risk of its own. This score reflects Canada as corporate domicile only; the real jurisdiction risk sits with its 242-asset royalty/streaming counterparty portfolio spanning the Americas and Australia. Same convention as Wheaton Precious Metals (WPM) in this database.
Triple Flag Precious Metals Corp. provides upfront capital to mining companies in exchange for royalties or the right to purchase a fixed percentage of a mine's future gold/silver production, generating cash flow without direct operating, capex or exploration risk. Its portfolio spans 242 assets (17 streams, 225 royalties) across 36 producing mines and 206 development/exploration-stage projects and other assets, primarily in the Americas and Australia. Because it has no operating mines, this record's operating fields (digSiteType, stage-derived milestones, per-project economics) do not apply in the normal operator sense. Dual-listed on the TSX (primary) and NYSE, both under ticker TFPM. Sheldon Vanderkooy is CEO (transitioned from CFO in 2024); Eban Bari is CFO. Q2 2026 was a record quarter: US$129.2 million revenue; the company raised its full-year 2026 GEO (gold-equivalent-ounce) guidance to 100,000-110,000 from 95,000-105,000, and increased its quarterly dividend for the fifth consecutive year.
View full profile →OR Royalties is a Canadian-domiciled royalty/streaming company, not an operator -- it holds no mines and bears no direct jurisdiction/operating risk of its own. This score reflects Canada as the corporate domicile only; the underlying jurisdiction risk actually sits with its royalty/stream counterparty mines and projects (its largest is the Canadian Malartic complex, Quebec), which this single-country field cannot represent. See description for the business-model caveat.
OR Royalties Inc. (formerly Osisko Gold Royalties Ltd., renamed 2023) holds a portfolio of royalty, stream and other interests on precious-metals projects, most notably a 3-5% net smelter return (NSR) royalty on the Canadian Malartic complex (Quebec), alongside dozens of other royalty/stream interests. Jason Attew is President and CEO (since 1 Jan 2024); Frederic Ruel is CFO and VP Finance (since Feb 2020). Not to be confused with OGG (Osisko Gold Group Inc., formerly Osisko Development Corp.) -- a separate, real, operating mine developer/constructor building the Cariboo Gold Project, sharing 'Osisko' brand lineage but a distinct company with a distinct business model.
View full profile →HQ St. John's, Newfoundland and Labrador, Canada. Royalty portfolio is diversified but concentrated across a small number of jurisdictions: Canada (Voisey's Bay/Labrador, the Kami iron-ore royalty, legacy Saskatchewan potash interests, and the Lithium Royalty Corp/Altius Renewable Royalties portfolios, both themselves globally spread) and Brazil (Chapada, the single largest current base-metals revenue contributor) -- a generally stable, established mining jurisdiction but not scored at full Tier-1 purity given that Brazil weighting. No acute jurisdiction crisis at any current royalty asset.
Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) is a St. John's, Newfoundland-headquartered royalty company that does not operate any mines itself -- it generates revenue entirely from royalty, stream and equity interests in assets operated by other companies, spanning base metals, potash, iron ore, lithium and renewable energy. Its base-metals segment (Q2 2026 revenue of C$9.4 million, the largest single disclosed segment that quarter) blends a 3.7% copper stream on Lundin Mining's Chapada copper-gold mine (Goias, Brazil) with a 3% net value return royalty on the Voisey's Bay nickel-copper-cobalt mine (Labrador, Canada; Vale Base Metals-operated), held via a 10% joint-venture interest in the Labrador Nickel Royalty Limited Partnership. Altius also holds legacy potash-royalty interests across Saskatchewan (via its 2018-2020 Liberty Metals & Mining Holdings, Prairie Royalties and CDP acquisitions; Q2 2026 potash revenue of C$5.0 million), an 8.05% equity stake in the separately-TSX-listed Labrador Iron Ore Royalty Corporation (LIORC, itself a pass-through vehicle holding a 7% gross overriding royalty plus an equity stake in the Iron Ore Company of Canada; Q2 2026 dividend income of C$1.6 million, muted while IOC invests in operational improvements), and a 57%-owned renewable-energy royalty subsidiary, Altius Renewable Royalties Corp (wind/solar interests; 43% owned by Northampton Capital Partners since a Dec 2024 privatization transaction). Altius materially expanded its lithium exposure by completing the acquisition of Lithium Royalty Corp in Q1 2026 (Q2 2026 lithium revenue of C$6.4 million). Q2 2026 attributable royalty revenue of C$30.0 million was a company record (versus C$12.7 million in Q2 2025), and Altius raised C$182 million (US$130 million) via a bought-deal share offering during the year to fund further royalty acquisitions following this growth; the company's common shares were added to the S&P/TSX Composite Index effective 22 Jun 2026.
View full profile →Vancouver, Canada HQ, NASDAQ (UROY) and TSX-V (URC) listed. Royalty portfolio is genuinely diversified across Tier-1 jurisdictions: Saskatchewan Canada (McArthur River, Cigar Lake, Dawn Lake -- Athabasca Basin, Cameco/Orano-operated), Wyoming USA (Lance, Peninsula Energy-operated), and Namibia (Langer Heinrich, Paladin-operated -- see PDN's own jurisdictionRiskNote, this same batch). No single standout-risk jurisdiction.
Uranium Royalty Corp (NASDAQ: UROY / TSX-V: URC) is a Vancouver-headquartered, pure-play uranium royalty and streaming company with a portfolio of approximately 30 projects spanning early-stage exploration through operating assets, recently expanded via the completed Sweetwater transaction. Currently cash-flowing interests include: a 1% gross overriding royalty on ~9% of Orano's ~30.2% ownership share of McArthur River production (Saskatchewan; Cameco-operated; URC elects to receive proceeds as physical uranium), a 10-20% sliding-scale net profits interest on ~3.75% of Orano's ~40.45% ownership share of Cigar Lake production (Saskatchewan; Cameco/Orano JV; 2026 guidance 17.5-18.0 million lbs U3O8 on a 100% basis) and a similar sliding-scale NPI on ~7.5% of overall Dawn Lake production, an A$0.12/kg production royalty on Paladin Energy's restarted Langer Heinrich mine (Namibia -- see PDN, this same batch), and Gross Revenue Royalties (1% and 4%, two separate arrangements) on Peninsula Energy's Lance Project (Wyoming). The portfolio also holds a Churchrock royalty (Laramide Resources, New Mexico; a Gross Overriding Royalty of 6% 'Mine Price,' additional interest acquired Aug 2024 for US$3.5M) and other earlier-stage interests. As a royalty holder, Uranium Royalty Corp owns no mine itself and operates none of these assets.
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Canadian-domiciled royalty/streaming company; risk here reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty/streaming companies (FNV/RGLD/WPM).
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.
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Vancouver-domiciled royalty and streaming company (inc. 2011), dual-listed TSXV/Nasdaq under VMET; risk here reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty/streaming companies (OGN/FNV/RGLD/WPM/ELE/VOXR/GROY/MTA). The underlying royalty/stream book spans Peru, the United States, Africa and Canada -- a materially more diversified and, on average, higher-risk mix than a single-jurisdiction royalty company, but the corporate-domicile convention this database applies to the category is unchanged.
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.
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Canadian-domiciled (Vancouver HQ) royalty and streaming company operating across Australia, Brazil, Mexico and the US; risk here reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty/streaming companies (FNV/RGLD/WPM/ELE/VOXR/GROY).
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.
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US-domiciled royalty company; risk here reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty/streaming companies (FNV/RGLD/WPM/ELE/VOXR).
Gold Royalty Corp. is a gold-focused royalty and streaming company. Q2 2026 (quarter ended 30 Jun 2026) revenue rose ~76% year-over-year to US$6.7 million, with net income turning positive at US$1.8 million, adjusted EBITDA up 137% to US$5.6 million, and operating cash flow of US$3.7 million; six-month 2026 revenue more than doubled year-over-year with gold-equivalent ounces up over 40%. Results were released 5 Aug 2026 alongside an acquisition of additional net-smelter-return royalties (~US$0.8M). The company ended the quarter with over US$11.3 million of cash, no debt, and a fully undrawn US$150 million credit facility (inclusive of a US$25 million accordion feature). David Garofalo is Chairman and CEO; Andrew Gubbels is Chief Financial Officer.
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Canadian-domiciled royalty company (US corporate HQ in Westminster, Colorado); risk here reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty/streaming companies (FNV/RGLD/WPM/ELE).
Vox Royalty Corp. is a precious-metals-focused royalty company holding a portfolio of 70+ royalties across Australia, Canada, the United States, South Africa, Brazil and Peru. The company delivered record Q1 2026 results (quarter ended 31 Mar 2026): record net income of US$24.5 million (US$0.36/share) and record operating cash flows of US$15.2 million, and repaid in full the US$6.7 million credit facility balance outstanding at the end of Dec 2025, leaving its BMO revolving credit facility (US$15M, with a US$10M accordion) fully undrawn. Following the strong quarter Vox raised 2026 receipts guidance to US$32-37 million (from US$28-32 million) and increased its quarterly dividend, with total 2026 gold-equivalent deliveries guided to ~230,000 oz. Kyle Floyd is Chief Executive Officer; Pascal Attard is Chief Financial Officer.
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Royalty/streaming company -- risk here reflects the underlying, revenue-dominant royalty asset (the San Albino gold stream/purchase agreement tied to Mako Mining's producing mine in Nicaragua) rather than Sailfish's own corporate domicile (Road Town, British Virgin Islands). Nicaragua carries real authoritarian-governance and political risk; gold mining continues to operate and attract investment, but this is a materially higher-risk jurisdiction than Canada/US/Australia. The secondary Gavilanes silver NSR (Durango, Mexico) is a lower-risk, moderate-risk jurisdiction not separately scored here, consistent with how this database scores other single-country-dominant royalty companies (e.g. FNV/RGLD by their producing-mine exposure).
Sailfish Royalty Corp. is a British Virgin Islands-domiciled, TSXV-listed precious-metals royalty and streaming company (also OTCQB:SROYF), graduating to TSX Venture Tier 1 status in May 2026. Its portfolio centers on an 11-year gold purchase agreement / stream equivalent to a 3% NSR on the San Albino area in northern Nicaragua (Mako Mining Corp.'s producing mine), plus a 2% NSR on the Gavilanes Silver Project in Durango State, Mexico. Q1 2026 results: royalty revenue of US$999,378, total revenue of US$1,809,769, gross profit of US$1,724,508, 8,924 silver-equivalent stream ounces and 6 gold stream ounces earned. On 10 April 2026 the company closed the sale of its Terraco Gold Corp. shares to OR Royalties for after-tax cash consideration of US$168 million, and on 13 April 2026 repaid a US$40,000,000 short-term loan plus US$1,794,310 accrued interest in full. Stage recorded as PRODUCTION (royalty on a producing mine, not an operator itself), consistent with this database's treatment of other royalty/streaming companies (FNV, RGLD, VMET) -- construction-milestone tracking is not applicable, as Sailfish has no mine of its own to permit/construct.
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Canadian-domiciled royalty company; risk here reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty companies (FNV/RGLD/WPM/ELE/VOXR/GROY/MTA). The producing Ermitaño mine underlying its principal royalty is in Sonora, Mexico -- a Tier-2 jurisdiction with a longer operating history but more variable permitting/security conditions than Canada.
Orogen Royalties Inc. is a royalty company built around a 2% net smelter return royalty on First Majestic's producing Ermitaño mine and the surrounding 167km2 land package in Sonora, Mexico, alongside a broader partner-funded royalty portfolio spanning the United States, Canada, Argentina, Kenya and Colombia. In H1 2026 Orogen's royalty and option partners funded approximately 44,000 metres of drilling across the portfolio, and the company received $1.72 million in royalty/option payments year-to-date. Orogen holds no operated mine of its own -- its production-stage classification reflects that its principal royalty (Ermitaño) is on an active, producing operation, consistent with how this database treats other royalty companies.
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Canadian-domiciled (Vancouver HQ) royalty company; risk here reflects corporate jurisdiction rather than any single project location, consistent with how this database scores other royalty/streaming companies (FNV/RGLD/OR/TFPM/VOXR/GROY/MTA/EMPR/OGN/ELE/VMET).
Nations Royalty Corp. is a Vancouver-headquartered royalty company founded by the Nisga'a Nation and Frank Giustra to create royalty diversification tied to Nisga'a Nation benefit agreements. It holds no operated mines, instead holding royalty/benefit-payment entitlements linked to five projects in British Columbia: the producing Brucejack gold mine (operated by Newmont), the KSM copper-gold-silver-molybdenum project (Seabridge Gold), the Premier Gold and Red Mountain gold projects (Cambria Gold Mines), and the Kitsault molybdenum deposit (New Moly LLC). Brucejack is currently the company's sole cash-flowing royalty. Fiscal 2026 (year ended 31 Mar 2026) royalty revenue rose 91% year-over-year to C$1.61 million (Q4 alone: C$530,655, up 95% y/y), and the company held C$17.1 million in cash and equivalents as at 31 Mar 2026. Derrick Pattenden was appointed President & CEO effective 6 Jan 2026, succeeding founder Robert McLeod; Liam Morrison became interim CFO effective 1 Aug 2026, succeeding Josh Kierce.
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Canadian-domiciled (TSXV-listed) royalty/streaming company; this score reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty/streaming companies (FNV/RGLD/WPM/TFPM/VOXR).
Since listing in December 2020, Empress has built a portfolio of 17 gold/silver royalty and streaming investments (2 currently producing), providing non-dilutive capital to development- and production-stage mining companies in exchange for royalty/stream rights, with strategic partnerships (Endeavour Financial, Terra Capital) supporting deal sourcing. H1 2026 revenue reached US$17.3 million, up 166% year-over-year from US$6.5 million, with Q2 2026 alone contributing US$8.2 million and six-month net income of US$3.9 million (vs. US$1.6 million in H1 2025); income from operations rose 285%. The company drew on a Nebari Accordion Credit Facility (US$28.5M capacity; US$3.5M drawn Dec 2023, US$5M drawn Mar 2024) to fund portfolio growth. Alexandra Woodyer Sherron is CEO and President; Xavier Wenzel (Fehr & Associates) is Interim CFO.
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Canadian-domiciled royalty/streaming company; risk here reflects corporate jurisdiction rather than any single mine location, consistent with how this database scores other royalty/streaming companies (OGN/VMET/FNV/RGLD/WPM/ELE/VOXR/GROY/MTA). The underlying royalty/stream book (48 royalties/streams post-Star Royalties acquisition) spans multiple jurisdictions, including a 4% gold stream on Mining Americas' Copperstone project in Arizona, USA.
Summit Royalties Ltd. is a royalty and streaming company, not an operator. Following completion of its acquisition of Star Royalties on 3 Jul 2026, the combined portfolio holds 48 royalties/streams, including 4 producing assets and 2 assets entering construction in 2026 (targeting production in 2027), among them a 4% gold stream on Mining Americas' Copperstone project in Arizona, USA. Approximately 63% of net asset value is attributed to production or committed-timeline assets. Summit holds no operated mine of its own -- its production-stage classification reflects that its portfolio includes royalties/streams on producing assets, consistent with how this database treats other royalty/streaming companies.
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