Elemental Royalty Corporation reported record quarterly gold equivalent ounces of 5,248 and record operating cash flow of US$15.5 million for the second quarter of 2026.

For the three months ended June 30, 2026, Elemental generated revenue of US$23.8 million and adjusted EBITDA of US$17.4 million, reflecting increased operating leverage across the business. Revenue for the first six months of 2026 reached US$48.1 million, compared to US$20.7 million for the same period in 2025. The company held US$74.2 million in cash and cash equivalents at the end of the period, which, together with an undrawn credit facility, provides financial flexibility to support continued growth.

Elemental remains on track to achieve its full-year guidance of 17,000 to 21,000 GEOs and US$76.5 to US$94.5 million in revenue for 2026, based on an assumed commodity price of US$4,500 per ounce of gold and US$5.50 per pound of copper. The company's royalty portfolio is anchored by cornerstone producing assets including Caserones, Karlawinda, Timok, and Bonikro.

“We continue to deliver strong quarterly results, supported by robust metal prices and solid contributions from key producing assets, including Karlawinda, Bonikro, Caserones, Timok, and Leeville. The breadth and quality of our expanded portfolio continue to demonstrate the benefits of the transformational merger with EMX Royalty, providing Elemental with greater scale, diversification, and resilience.”

— David M. Cole, Chief Executive Officer

Corporate developments during and subsequent to the period advanced several strategic portfolio initiatives. Elemental entered into a definitive arrangement agreement for the proposed acquisition of Vizsla Royalties, which is expected to close during the third quarter of 2026 and bring a life-of-mine royalty over the Panuco silver-gold project in Mexico into the portfolio.

Elemental also declared a second quarterly dividend of US$0.03 per share, with eligible registered shareholders given the option to receive the payment in kind as Tether Gold XAU₮. Additionally, the company initiated a normal course issuer bid to repurchase up to 3,222,537 common shares, and acquired a 2.5% net smelter return royalty on the Western Queen Gold Project for total consideration of A$10 million. Elemental up-listed to the TSX main board during the period and secured additions to the S&P/TSX Global Gold Index as well as the Russell 3000 and Russell 2000 Indexes.

Across other development assets in the portfolio, first copper and zinc concentrate production from the Gediktepe Sulphide Expansion Project is expected in August 2026, a feasibility study for the Dugbe project is expected in the third quarter of 2026, and an updated pre-feasibility study for the Cactus project is scheduled for completion in the second half of 2027.

Read the full announcement: Elemental Royalty Delivers Record Quarterly GEOs and Operating Cash Flow