Elemental Royalty Corp (ELE) Form 6-K — Sep 21, 2026
Elemental Royalty (Nasdaq/TSX: ELE) announced a US$290 million acquisition of five streams and royalties from funds managed by Orion Mine Finance, funded with US$200 million in cash and US$90 million in equity (4,289,053 shares, about 5.6% of shares outstanding). The portfolio adds a 50% silver stream on i-80 Gold's Ruby Hill Complex and a 5% gold stream on Mansa Resources' producing Kouroussa Mine, with three assets cash-flowing from day one and closing expected in Q4 2026.
Key figures
- Guidance
- 2026 GEO sales guidance of 19,500-22,000 GEOs (18,000-20,500 from existing portfolio, updated from 17,000-21,000 at Q2 2026, plus 1,500 GEOs from the Orion Portfolio from August 1, 2026); 2026 revenue of US$89.8-101.1 million at assumed US$4,500/oz gold and US$6.00/lb copper
- Debt Amount
- 250000000
- Deal Value Usd
- 290000000
- Ga Reduction
- over 25%
- Carlin East Stake
- US$8.5 million deemed value, ~19.9% on a post-financing basis
- Cash Considation
- US$200 million cash portion of acquisition consideration
- Divestment Close
- contemplated no later than October 31, 2026
- Geo Guidance2026
- 19,500-22,000 GEOs
- Acquisition Close
- Q4 2026 (Snowy River stream up to Q1 2027); economic benefit of producing assets accrues from August 1, 2026
- Mansa Buyback Right
- US$22.5 million one-time buyback before November 2028 to halve the Kouroussa stream
- Headcount Reduction
- over 50%
- Carlin East Cash Split
- Carlin East retains first US$1.5 million of annual portfolio payments 2027-2030 (Elemental receives excess); Carlin East receives 100% from 2031
- Credit Facility Prior
- US$150 million existing revolving commitment, upsized to US$250 million; US$50 million accordion retained (potential total US$300 million)
- Equity Consideration
- US$90 million via 4,289,053 Elemental shares (~5.6% of issued and outstanding shares)
- Ruby Hill Stream Terms
- 50% silver stream at 20% of spot silver price, stepping down to 10% after 2.5 million oz delivered (1.3 million oz remaining)
- Kouroussa Stream Terms
- 5% gold stream at 20% of spot price, stepping down to 2.5% after the later of November 2037 or 39,800 oz delivered
- Annual Cash Expense Savings
- approximately US$6 million (~25% of projected annual cash expenditures)
AI analysis
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