Emx Royalty Stock Price, News & Analysis

EMX Royalty announces significant production increases at the Timok/Cukaru Peki Mine in Serbia by its royalty partner Zijin Mining. In H1 2024, the mine produced 90,008 tonnes of copper and 2,894 kilograms of gold, resulting in Q2 royalty revenues of $1,586,000 for EMX. Zijin is expanding the processing plant capacity from 12,000 to 15,000 tonnes per day, with a total annual copper production capacity reaching 450,000 tonnes across their Serbian operations. EMX holds various uncapped royalty interests, including a 0.3625% NSR royalty over the Brestovac permit area.

EMX Royalty has executed an exploration and option agreement for its Gumsberg Project in Sweden with Alpha Future Funds S.C.S. The agreement includes:

- A US$100,000 cash payment upon closing
- Work commitments during a one-year option period
- Upon option exercise, EMX will receive:
• Additional deferred option payments totaling US$850,000
• US$5,000,000 in project expenditures over five years
• Annual advance royalty payments
• A 2% NSR royalty
• Milestone payments

The Gumsberg polymetallic project is located in the Bergslagen Mining Region of southern Sweden, known for its long history of mining. The project includes multiple past-producing mining areas, notably the Östersilvberg silver mine. Recent drilling has discovered new silver-rich polymetallic mineralization at Östersilvberg, as well as zinc-lead-silver deposits at Fredikssongruvan and Vallberget-Loberget.

EMX Royalty (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) has announced a significant share buyback through its existing Normal Course Issuer Bid (NCIB). The company recently repurchased 2 million shares in a block trade at C$2.05 per share, totaling C$4.1 million (approximately US$3.0M). Since the NCIB's announcement on February 7, 2024, EMX has bought back a total of 2,805,346 shares at an average price of C$2.15, amounting to about C$6.0 million. The company can still purchase an additional 2,194,654 shares under the current NCIB program, which expires on February 13, 2025. EMX CEO Dave Cole stated that the company is committed to prudent capital allocation and believes EMX shares are undervalued, expecting the buybacks to provide exceptional risk-adjusted returns on capital.

EMX Royalty (NYSE American: EMX) has announced the appointment of Stefan L. Wenger as Chief Financial Officer, effective October 1, 2024. Wenger, previously CFO and Treasurer at Royal Gold from 2006 to 2018, brings extensive experience in the mining royalty sector. During his tenure at Royal Gold, the company's portfolio grew from 14 to 188 royalties, with annual revenues increasing from $15 million to $459 million.

As part of EMX's corporate restructuring, Douglas Reed transitions from CFO to Chief Accounting Officer, while Ryan Hindmarch is appointed as Director of Finance. Wenger will receive 50,000 incentive stock options and 50,000 restricted share units (RSUs) as part of his compensation package.

EMX Royalty (NYSE American: EMX) reported strong Q2 2024 results, with adjusted royalty revenue up 49% year-over-year to $7.836 million. Key highlights include:

1. Robust performance from Timok, Gediktepe, and Leeville royalties
2. Adjusted revenue and other income increased 32% to $8.758 million
3. Record quarterly revenue from Timok at $1.586 million
4. Positive adjusted cash flows from operating activities for the fifth consecutive quarter
5. On track to achieve upper end of 2024 guidance for GEOs sold and adjusted royalty revenue

The company maintains a positive outlook, expecting continued growth from key assets like Caserones and Timok. EMX also closed a new $35 million credit agreement with Franco-Nevada , extending debt maturity to July 1, 2029.

EMX Royalty (NYSE American: EMX) has successfully closed and drawn down a $35 million loan from a subsidiary of Franco-Nevada The loan, maturing on July 1, 2029, was used to repay a $34.42 million outstanding balance to Sprott Resource Lending Corp. and cover a 1% commitment fee. The interest rate is based on the three-month SOFR plus a margin determined by EMX's net debt to adjusted EBITDA ratio, ranging from 300 to 425 basis points.

The loan is secured by EMX's assets and includes certain covenants. Up to $10 million can be voluntarily prepaid annually without penalty. This arrangement further strengthens EMX's relationship with Franco-Nevada, a key shareholder, with whom they have previously collaborated on royalty purchases and joint ventures.

EMX Royalty (NYSE American: EMX) has executed an exploration and option agreement with Alpha Future Funds S.C.S for its Sulitjelma Project in Norway. The agreement includes:

- A cash payment and work commitments during a one-year option period
- Additional deferred option payments upon exercise
- Advance royalty payments
- Milestone payments
- A 2% NSR royalty

The Sulitjelma project is a past producer of copper-rich polymetallic mineralization from volcanogenic massive sulfide (VMS) deposits. Alpha aims to revitalize the district through investment and exploration. The project produced over 25 million tonnes averaging 1.84% copper, 0.86% zinc, 10 g/t silver, and 0.25 g/t gold historically.

EMX Royalty (NYSE American: EMX) announced the successful approval of all proposed resolutions at its 2024 Annual General Meeting held on June 28, 2024, in Vancouver, BC. The number of directors was set at seven, with all nominees elected to serve for a one-year term. Proxy vote results were overwhelmingly positive, with support for directors ranging from 94.70% to 98.97%. Shareholders also voted 97.21% in favor of setting the number of directors at seven, 99.02% for appointing Davidson & Company LLP as auditors, and 94.76% for the Company’s Stock Option Plan.

Additionally, EMX published its inaugural Sustainability Report for 2023, outlining its commitment to sustainable and ethical business practices. The report provides details on the Company’s key ESG initiatives, performance metrics, improvement areas, and future targets. It adheres to guidelines from several esteemed frameworks such as the Global Reporting Initiative and the International Sustainability Standards Board. The full report is available on EMX's website.

EMX Royalty (NYSE American: EMX) has announced the grant of security-based compensation under its equity incentive plan. The company has issued 1,442,400 stock options to its officers, directors, employees, and consultants, which are exercisable at C$2.47 per share over five years. Additionally, 647,000 restricted share units (RSUs) with performance criteria have been granted, subject to a 3-year cliff vesting provision. These RSUs can convert into up to 1.5 common shares based on performance metrics like total shareholder return and operational milestones. Furthermore, 132,000 RSUs without performance criteria have been issued to employees and consultants, vesting in three equal tranches over three years. All securities issued to officers and directors will be restricted from resale for four months and one day post-issuance.