Results centre

Q1 2024 Highlights

The portfolio performed in line with expectation, production at Kestrel returned to our private royalty area driving a 117% increase in portfolio contribution compared to Q4 23 ($19.5m vs $9m). Mining at Kestrel is expected to remain within the bounds of our royalty area throughout the quarter which should underpin a strong H1.

“We are keeping a close eye on the progress of the ramp up at Voisey’s Bay, the publication of the Santo Domingo Feasibility Study and the development plan for the West Musgrave nickel-copper project.”

Marc Bishop Lafleche

Chief Executive Officer

2023 Full Year Results

We look forward with confidence in the business and in 2024, we anticipate year on-year production volume growth from the key assets underlying our royalty portfolio, and in the medium term onwards, our royalty portfolio is aligned to strong multi-decade structural demand growth trends driven by the energy transition.

Marc Bishop Lafleche

Chief Executive Officer

Q4 2023 Highlights

The mining sector continues to see underinvestment and a challenging market backdrop. We anticipate these conditions will persist over next 2-3 years, during which royalty financing should be a highly attractive source of capital. The extension of our revolving credit facility puts us in a strong position to continue to grow and diversify our portfolio, which currently offers the leading copper growth profile in the royalty sector.