Morning Briefing: Elemental Royalty Announces US$290 Million Acquisition of Royalty and Streaming Portfolio

SPEAKER_1 (0:02)

Good morning and welcome back to the Mining Stock Daily Morning Briefing, presented by the Clear Commodity Network and delivering today's top news in mining and mineral exploration. From the new ClearCom studios, here's your host, Trevor Hall.

Michael McCray (0:17)

Good morning and welcome back to Mining Stock Daily Morning Briefing. I'm Michael McCray filling in for Trevor Hall. It's Tuesday, September 22nd. Oil is dropping. Crude oil futures are down 2.21% to $90.34. Reuters reports that Iran is ready to reopen the Strait of Hormuz within 7 days if the US eases military pressure and lifts its blockade on Iranian ports. The news agency also reported that Saudi Arabia has restarted operations at its east-west pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday. Gold is mostly flat, trading at the 4,379 level. Copper is up, trading at 686, nearing its all-time high it made earlier this month. We'll get to the news from the miners and explorers in just a moment, but first, a mention of the day's sponsor. Today's episode of Mining Stock Daily is brought to you by Vizsla Silver.

Vizsla Silver is advancing a Panuco Silver Gold project in Sinaloa, Mexico, one of the highest-grade silver development projects in the world. The project hosts the world's largest undeveloped high-grade silver resource, and the company has been aggressively expanding its drill program to grow that resource ahead of a development decision. Learn more at vizslasilver.ca. And here is what you need to know today. Elemental Royalty is acquiring a five-asset precious metal streaming and royalty portfolio from Meridian Mine Finance for $290 million, split between $200 million in cash and $90 million in equity. The company says the deal will boost its net asset value and revenue per share while adding North American and Tier 1 jurisdiction exposure. In a related move, Elemental will divest its Generation Business, comprising expiration projects and option agreements to Carlin East in exchange for a cornerstone equity stake. The company says that move will cut G&A by over 25 percent and let Elemental keep its upside from its future royalty generation as Carlin East's largest shareholder. Alongside the restructuring, CEO David M. Cole is stepping down to lead Carlin East, with the current CEO and President Frederick Bell taking over as CEO and Director.

Meridian Mining definitive feasibility study for a Casabelle Gold Copper Silver project in Brazil delivers a base case after tax net present value of 2 billion 108 percent IRR and a 0.9 year payback, improving to 2.9 billion and 135 percent IRR. At spread prices on initial cap of 322 million. Over 13.9 year mine life, the project expected to produce 983, 537 ounces of gold, 18634 tons of copper, and 1.78 million ounces of silver at an all-astaining cost of 1,056 ounces gold equivalent. Pre-construction is already underway with 15.9 million in committed contracts. The installation license permit at lodge and financing activities progressing. Bravo Mining's pre-feasibility study for its Laguna PGM Nickel project in Brazil delivers a base case after tax net present value of 1.45 billion, 35.1% internal rate of return, and a two-year payback with a main reserve of 86.7 million tons at 2.77 grams per ton Palladium equivalent for 7.73 million ounces contained. Selkirk Copper's PEA for its restart on its Minto Copper Gold project in the Yukon delivers an after-tax net present value 7% of 494 million Canadian and 47.8% IRR at planning prices, rising to 1.02 billion and 78.2 IRR at spot prices over a 13-year mine life at 4,100 tons per day. The restart leverages existing infrastructure for strong capital efficiency ratio of 2.71 over 1, and a completed Phase 1 drill prime already grew an M&I resource by 280%.

Selkirk is targeting a Feasibility Study and Permit Amendment by H22027.

Great Pacific Gold made its two-hole program at Kasie Ridge confirm a large high-temperature alteration system at depth with KAS-015, ending in the strongest sulfide-rich zone encountered. Both holes returned gold up to 1.55 grams per ton, and silver up to 22.4 grams per ton, with Pathfinder Elements strengthening down-hole. Surface mapping is now underway to rank follow-up targets while rigs stay active. K2 Gold's four new holes at its Dragonfly zone intersected multiple stacked west-dipping gold structure 75 meters south of its 2020 discovery. Headlined by DF26-028's 53.34 meters of 2 grams per ton, including a high-grade core of 15.24 meters of 5.33 grams per ton gold. All four holes hit main mineralized corridors, extending the high-grade intersection to 160 meters of a strike, while zones remained open in all directions. Revival Gold's 2026 in-field drilling at its Mercur Gold Project in Utah is now 64% complete, with 20 new RC results from its main Mercur area confirming shallow oxidized gold mineralization suitable for heap leaching, including its 0.92 grams per ton over 33.5 meters. It's RM26-213.