Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that the Company has, pursuant to Royalty Agreement (“Agreement”) announced on January 6, 2025 with Minera Pampa de Cobre S.A.C. (“MPC”), acquired the additional 1% Net Smelter Returns (“NSR”) royalty interest on the Chapi Copper Mine Property for US$7,000,000. MPC is owned indirectly by a privately held Canadian company, Quilla Resources Inc.
EMX now holds a 2% NSR royalty on the Chapi Copper Mine Property, for a total consideration of US$10,000,000. The Agreement includes a 2% NSR royalty on minerals produced from the approximately 26,000 hectare property (“Property Royalty”) owned by MPC, as well as a 2% NSR royalty from any minerals that are produced from outside the Property Royalty area, but that are processed at the Chapi Mine processing facilities. The Agreement also includes a two-kilometer area of interest (“AOI”) around the Property Royalty area, and any property acquired by MPC within this AOI will also be subject to a 2% NSR royalty.
For more information on the Royalty Agreement and the Chapi Copper Mine Property, please refer to the Company’s news release published on January 6, 2025.
About EMX – EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
North Vancouver, British Columbia–(Newsfile Corp. – January 30, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 3,791.3 metres of underground grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on Zone 2 and targeted the URW and Murau lode systems.
All drilling was completed from existing near surface underground workings. The Company intersected high-grade mineralized structures in 25 holes. Most of the drill holes did not exceed 130 metres in length from underground drill stations. Drill results include multiple bonanza grade gold assays over narrow widths such as 168.3 g/t over 0.4 m, 158.0 g/t over 0.3 m, 145.5 g/t over 0.4 m, 123.5 g/t over 0.6 m, and 119.5 g/t over 0.4 m, all of which are located near existing underground workings. These bonanza grade gold results occur within larger intervals of high-grade mineralization, such as 6.7 m of 25.45 g/t gold, and 4.7 m of 26.89 g/t gold.
The Zone 2 drilling targeted two separate mineralized systems: the URW system and the Murau system. The URW drilling primarily targeted the downdip extension of the URW1 stockwork zone below the 1101 level, while the Murau drilling primarily targeted mineralization below the 1095 level. Both programs intersected high grade mineralization, indicating that both systems extend down vertically below current mining levels. Due to the proximity of these results to active mining levels, these results are anticipated to be incorporated into the mine plan in the next six to twelve months. Notably, the headline intersect of 6.7 m of 25.45 g/t gold is located within the high-grade roscoelite zone, just 10 m below current mining activities in the 1095 level (see press releases dated November 12, 2024 and November 19, 2024 ).
Lion One Chairman and CEO Walter Berukoff commented: “We’re extremely pleased with the new results from our Zone 2 grade control drill program. These drill results are in close proximity to our active mine headings and we’re excited to incorporate them into our near-term mine plan. Together with the high-grade Zone 5 results released last week, we continue to advance Tuvatu on multiple fronts and we look forward to advancing the mine to new levels underground.”
Highlights of New Drill Results:
25.45 g/t Au over 6.7 m (including 145.5 g/t Au over 0.4 m) (TGC-0276, from 45.1 m depth)
26.89 g/t Au over 4.7 m (including 78.0 g/t Au over 0.85 m) (TGC-0264, from 36.8 m depth)
36.94 g/t Au over 2.5 m (including 158.0 g/t Au over 0.3 m) (TGC-0312, from 46.5 m depth)
13.97 g/t Au over 6.6 m (including 54.5 g/t Au over 0.3 m) (TGC-0260, from 31.45 m depth)
45.95 g/t Au over 1.8 m (including 123.5 g/t Au over 0.55 m) (TGC-0308, from 43 m depth)
168.25 g/t Au over 0.4 m (TGC-0276, from 18.5 m depth)
29.23 g/t Au over 2.1 m (including 37.43 g/t Au over 0.9 m) (TGC-0353, from 27.9 m depth)
21.48 g/t Au over 2.7 m (including 119.5 g/t Au over 0.42 m) (TGC-0344, from 70.2 m depth)
12.47 g/t Au over 3.8 m (including 49.86 g/t Au over 0.45 m) (TGC-0264, from 57.2 m depth)
10.82 g/t Au over 3.7 m (including 19.51 g/t Au over 0.6 m) (TGC-0276, from 39.9 m depth)
*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.
Figure 1. Location of the Zone 2 drilling reported in this news release. Left image: Plan view of Tuvatu showing Zone 2 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Right image: Section view of Zone 2 drilling looking northeast. Zone 2 drilling primarily targeted the Murau and URW lode systems below current mine levels.
The Zone 2 area of Tuvatu is located in the northwest part of the deposit, near the main portal. The URW and Murau lode systems are the primary mineralized systems in Zone 2, and they are both actively being mined. A total of 35 drill holes are reported in this news release, including 23 targeting the URW system and 12 targeting the Murau system.
The URW system consists of multiple closely spaced steeply dipping high grade mineralized lodes trending in a north-south direction. Within this system lies the URW1 stockwork zone, which consist of two steeply dipping lodes enveloped within a stockwork zone of gold-bearing veinlets. Four levels of underground mining have been completed within the URW1 stockwork zone; the 1161, 1141, 1121, and 1101 levels. Long hole open stope mining is taking place between these levels. The URW drilling reported here was conducted from the 1116 drill station underground and consists of a series of drill holes oriented in a fan from east to southeast. The drill program primarily targeted the down dip extension of the URW1 stockwork zone below the 1101 level along a 120 m strike length from north to south. High- and bonanza-grade results were intersected in multiple drill holes, indicating the continuation of the system below current mine workings (see Figure 2).
The Murau system consists of a series of high-grade flat to moderately flat mineralized structures located between the steeply dipping URW1 stockwork zone to the east and the steeply dipping Ura lode system to the west. The Murau structures are known as ”flatmakes”[1] and have abundant roscoelite mineralization. They Murau flatmakes are a major component of the high-grade roscoelite zone that was identified in 2024. The first such flatmake is being actively mined along the 1095 level in Zone 2 where a 120 m strike length of the system has been exposed. The Murau drilling reported here was conducted from the 1121 drill station underground. Drilling consists of a series of drill holes oriented in a fan from the north to the northwest. The primary target of the drilling was mineralization below the 1095 level, with several drillholes also targeting mineralization above the 1095 level. High grade mineralization was intersected both above and below the 1095 level, with 6.7 m of 25.45 g/t gold intersected within 10 m below the 1095 level indicating the potential for additional flatmakes below the 1095 level (see Figure 3).
The purpose of the current Zone 2 URW and Murau grade control drill programs are to enhance the mine model and inform stope design in advance of mining in these areas. The majority of the high-grade intervals reported in this release are located within 30 m of underground developments and are anticipated to be included in the mine plan in 2025. Both the URW1 and Murau drill programs have successfully intersected high-grade gold mineralization in close proximity below current underground workings. Highlights of the Zone 2 drilling reported here are shown in Figure 2 and Figure 3.
Figure 2. Zone 2 URW grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Oblique view looking down to the north. The URW grade control drilling in Zone 2 was oriented in a fan from the east to the south and primarily targeted the down-dip extension of the URW1 stockwork zone below the 1101 level, as well as the extensions of the system to the north and to the south.
Figure 3. Zone 2 Murau grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Section view looking east-northeast. The Murau grade control drilling in Zone 2 targeted mineralization in the roscoelite zone below the 1095 level, as well as the gap between the Murau and URW1 lode systems. The headline drill intercept of 6.7 m of 25.45 g/t gold is located within 10 m below the 1095 level and is scheduled for mining in the near term.
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and has been reviewed and approved by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.
Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.
Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Appendix 1: Full Drill Results and Collar Information
Table 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TGC-0253
1876320
3920738
123
10.3
-35.7
110.6
TGC-0258
1876320
3920738
122
10.1
-50.1
85.0
TGC-0260
1876320
3920739
122
10.6
-15.9
100.0
TGC-0262
1876320
3920739
123
10.5
0.0
101.0
TGC-0264
1876320
3920740
125
11.2
21.1
105.2
TGC-0266
1876319
3920738
123
353.8
-24.3
106.2
TGC-0270
1876317
3920736
121
295.7
-54.9
75.0
TGC-0272
1876317
3920736
121
295.5
-70.6
55.3
TGC-0274
1876316
3920737
122
300.6
-39.1
100.0
TGC-0276
1876316
3920729
121
320.2
-39.3
75.6
TGC-0280
1876317
3920728
121
322.8
-50.8
75.0
TGC-0283
1876317
3920729
121
339.1
-50.4
75.3
TGC-0285
1876298
3920812
121
103.6
10.9
90.2
TGC-0290
1876298
3920813
121
83.7
13.2
91.7
TGC-0293
1876298
3920813
120
90.0
-5.7
275.4
TGC-0298
1876298
3920812
120
107.0
-13.9
275.0
TGC-0305
1876289
3920808
119
157.3
-30.0
41.4
TGC-0308
1876287
3920806
119
157.9
-28.7
150.0
TGC-0312
1876287
3920806
119
156.4
-24.8
165.3
TGC-0314
1876288
3920807
119
149.6
-26.1
146.4
TGC-0317
1876288
3920808
120
135.1
-11.3
63.2
TGC-0320
1876288
3920807
119
135.5
-24.2
127.0
TGC-0322
1876288
3920807
119
132.1
-28.9
127.0
TGC-0324
1876288
3920808
120
129.3
-22.7
122.7
TGC-0328
1876288
3920807
120
134.2
-6.3
71.5
TGC-0329
1876287
3920806
118
166.1
-35.1
148.3
TGC-0334
1876287
3920806
118
102.0
-9.0
10.6
TGC-0337
1876292
3920809
119
118.1
-23.3
118.7
TGC-0340
1876292
3920809
119
117.4
-28.4
122.5
TGC-0344
1876295
3920810
119
109.2
-27.0
117.3
TGC-0348
1876298
3920811
120
103.3
-8.3
7.8
TGC-0350
1876298
3920811
119
102.7
-19.2
110.0
TGC-0353
1876298
3920811
120
102.3
-8.7
108.0
TGC-0357
1876298
3920811
119
106.9
-34.5
121.0
TGC-0362
1876298
3920812
119
98.3
-31.0
116.1
Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0260
30.0
30.4
0.4
26.50
31.5
38.0
6.6
13.97
including
31.5
31.8
0.3
17.06
and
31.8
32.4
0.7
5.68
and
32.4
33.6
1.2
16.99
and
33.6
33.9
0.3
54.50
and
33.9
34.7
0.8
47.20
and
34.7
35.4
0.7
0.04
and
35.4
36.0
0.7
4.13
and
36.0
36.8
0.8
1.93
and
36.8
38.0
1.2
5.33
39.3
40.0
0.7
3.75
TGC-0262
24.0
24.3
0.3
3.46
45.0
45.3
0.3
6.94
46.5
47.2
0.7
5.04
TGC-0264
36.8
41.5
4.7
26.89
including
36.8
37.1
0.3
10.85
and
37.1
38.3
1.2
16.77
and
38.3
39.5
1.2
13.50
and
39.5
40.0
0.5
0.08
and
40.0
40.9
0.9
78.00
and
40.9
41.5
0.7
31.47
44.4
47.2
2.8
7.94
including
44.4
45.0
0.6
9.77
and
45.0
45.3
0.3
2.23
and
45.3
45.9
0.6
3.22
and
45.9
46.2
0.3
18.99
and
46.2
46.9
0.7
9.37
and
46.9
47.2
0.3
5.31
57.2
61.0
3.8
12.47
including
57.2
57.8
0.6
9.37
and
57.8
58.4
0.6
0.62
and
58.4
58.9
0.5
49.86
and
58.9
59.2
0.3
0.40
and
59.2
59.5
0.3
8.59
and
59.5
59.8
0.3
33.44
and
59.8
60.4
0.7
5.13
and
60.4
61.0
0.6
4.83
TGC-0270
45.4
46.6
1.2
19.55
TGC-0274
29.0
29.7
0.7
27.68
including
29.0
29.4
0.4
26.54
and
29.4
29.7
0.3
29.20
38.3
39.2
0.9
3.90
44.7
45.7
1.0
4.12
53.8
56.2
2.4
5.36
including
53.8
54.6
0.8
8.78
and
54.6
54.9
0.3
1.52
and
54.9
55.4
0.5
1.63
and
55.4
55.8
0.4
8.29
and
55.8
56.2
0.4
3.64
58.1
59.0
0.9
7.02
including
58.1
58.4
0.3
6.88
and
58.4
59.0
0.6
7.09
60.1
64.1
4.0
4.38
including
60.1
60.4
0.3
7.87
and
60.4
61.3
0.9
0.36
and
61.3
61.6
0.3
3.70
and
61.6
62.2
0.6
9.13
and
62.2
62.9
0.7
4.65
and
62.9
63.3
0.4
0.25
and
63.3
64.1
0.8
6.12
TGC-0276
18.5
18.9
0.4
168.25
39.9
43.6
3.7
10.82
including
39.9
40.8
0.9
9.00
and
40.8
41.1
0.3
12.00
and
41.1
41.7
0.6
19.51
and
41.7
42.7
1.0
0.44
and
42.7
43.6
0.9
17.99
45.1
51.8
6.7
25.45
including
45.1
45.4
0.3
66.44
and
45.4
46.2
0.8
8.25
and
46.2
46.5
0.3
67.29
and
46.5
46.9
0.4
13.36
and
46.9
47.2
0.3
12.58
and
47.2
47.6
0.4
23.10
and
47.6
48.0
0.4
145.50
and
48.0
48.6
0.6
13.66
and
48.6
49.6
1.0
4.04
and
49.6
50.1
0.5
47.73
and
50.1
50.8
0.7
6.76
and
50.8
51.8
1.0
5.48
TGC-0285
13.8
14.4
0.6
52.57
63.1
63.4
0.3
12.39
TGC-0290
41.7
43.0
1.3
10.85
including
41.7
42.0
0.3
20.38
and
42.0
42.7
0.7
5.93
and
42.7
43.0
0.3
12.79
45.4
46.0
0.6
6.18
58.4
61.0
2.6
10.76
including
58.4
59.2
0.8
24.33
and
59.2
60.4
1.2
4.97
and
60.4
61.0
0.6
4.24
62.2
62.5
0.3
6.90
TGC-0293
48.0
49.2
1.2
9.43
including
48.0
48.6
0.6
14.89
and
48.6
49.2
0.6
3.97
128.0
130.2
2.2
3.02
including
128.0
129.0
1.0
3.09
and
129.0
129.6
0.6
2.10
and
129.6
130.2
0.6
3.83
162.8
165.2
2.4
5.22
including
162.8
163.1
0.3
21.04
and
163.1
163.6
0.5
0.40
and
163.6
164.4
0.8
3.46
and
164.4
165.2
0.8
4.07
169.1
170.0
0.9
5.18
TGC-0298
23.8
24.2
0.4
19.57
56.6
57.5
0.9
8.50
65.4
65.7
0.3
8.48
TGC-0305
5.1
6.7
1.6
11.76
including
5.1
5.4
0.3
4.24
and
5.4
6.0
0.6
26.29
and
6.0
6.3
0.3
1.41
and
6.3
6.7
0.4
3.38
8.8
9.7
0.9
11.85
TGC-0308
4.6
4.9
0.3
3.30
5.6
5.9
0.3
3.15
10.1
10.5
0.4
5.58
11.6
12.5
0.9
6.81
including
11.6
12.0
0.4
9.95
and
12.0
12.5
0.5
4.30
43.0
44.8
1.8
45.95
including
43.0
43.3
0.3
6.21
and
43.3
43.6
0.3
0.18
and
43.6
44.2
0.6
123.50
and
44.2
44.5
0.3
29.20
and
44.5
44.8
0.3
6.03
52.6
53.8
1.2
5.70
57.2
58.4
1.2
4.78
122.6
122.9
0.3
7.08
TGC-0312
4.5
5.4
0.9
3.58
9.3
10.5
1.2
4.07
37.4
37.7
0.3
6.15
46.5
49.0
2.5
36.94
including
46.5
47.2
0.7
17.52
and
47.2
47.5
0.3
48.99
and
47.5
47.8
0.3
158.00
and
47.8
48.4
0.6
25.72
and
48.4
49.0
0.6
4.27
53.5
54.7
1.2
31.28
59.6
59.9
0.3
3.36
TGC-0314
3.4
3.7
0.3
8.36
4.9
6.0
1.1
4.07
51.6
51.9
0.3
3.20
57.8
59.7
1.9
11.67
including
57.8
58.7
0.9
17.99
and
58.7
59.4
0.7
2.32
and
59.4
59.7
0.3
15.36
TGC-0317
2.1
2.5
0.4
4.39
6.1
6.4
0.3
8.93
41.6
41.9
0.3
6.27
47.9
48.2
0.3
4.56
55.9
56.7
0.8
8.12
TGC-0320
3.8
5.8
2.0
4.27
including
3.8
4.3
0.5
7.36
and
4.3
4.6
0.3
1.05
and
4.6
5.3
0.7
<0.01
and
5.3
5.8
0.5
9.10
54.2
56.0
1.8
6.22
including
54.2
55.1
0.9
8.98
and
55.1
56.0
0.9
3.46
82.4
83.0
0.6
9.95
113.9
114.5
0.6
8.48
including
113.9
114.2
0.3
12.79
and
114.2
114.5
0.3
4.16
TGC-0322
123.8
125.6
1.8
6.67
including
123.8
124.1
0.3
3.70
and
124.1
124.4
0.3
0.01
and
124.4
124.7
0.3
2.16
and
124.7
125.0
0.3
9.82
and
125.0
125.6
0.6
11.98
TGC-0324
95.5
95.8
0.3
72.59
TGC-0328
20.0
21.0
1.1
6.16
including
20.0
20.4
0.4
3.65
and
20.4
21.0
0.6
7.77
42.6
44.5
1.9
4.98
including
42.6
43.8
1.2
5.20
and
43.8
44.5
0.7
4.63
53.7
56.3
2.6
11.14
including
53.7
54.0
0.3
6.20
and
54.0
54.3
0.3
1.41
and
54.3
55.0
0.7
23.57
and
55.0
55.3
0.3
9.03
and
55.3
56.0
0.7
6.71
and
56.0
56.3
0.3
10.26
67.4
68.3
0.9
4.98
TGC-0329
11.2
11.5
0.3
3.32
31.7
32.3
0.6
5.00
57.5
58.6
1.1
8.91
133.9
134.2
0.3
14.65
TGC-0344
70.2
72.9
2.7
21.48
including
70.2
71.0
0.8
5.60
and
71.0
71.5
0.5
0.10
and
71.5
71.9
0.4
119.50
and
71.9
72.9
1.0
3.27
TGC-0350
62.3
63.5
1.2
10.43
including
62.3
62.6
0.3
23.99
and
62.6
63.5
0.9
5.91
TGC-0353
27.9
30.0
2.1
29.23
including
27.9
28.8
0.9
37.43
and
28.8
30.0
1.2
23.08
33.3
33.6
0.3
3.46
38.7
39.1
0.4
3.53
54.3
55.3
1.0
7.38
including
54.3
54.6
0.3
9.95
and
54.6
55.0
0.4
0.85
and
55.0
55.3
0.3
14.38
64.0
65.0
0.9
9.72
including
64.0
64.4
0.3
3.16
and
64.4
65.0
0.6
13.45
TGC-0357
75.1
75.4
0.3
6.30
TGC-0362
68.7
69.3
0.6
30.10
including
68.7
69.0
0.3
23.75
and
69.0
69.3
0.3
36.44
1 Flatmakes are flat-dipping mineralized vein structures. The term is a Fijian mining term commonly used at the Vatukoula gold mine northeast of Tuvatu. At Vatukoula, flatmakes have been reported to have hundreds of meters of strike length.
Diamcor Mining has received an investment from a Dubai-based diamond manufacturer that will allow it to advance various projects at its South African operation.
The mining company, which operates the Krone-Endora at Venetia project, will use the funds to expedite the processing of previously stockpiled oversized material, increase processing volume, and develop work programs it currently has underway, it said Monday. It will also further its bulk sampling.
Diamcor did not provide the name of the Dubai-based company but did note it was a “manufacturer and supplier of bridal and anniversary diamonds to the global market.” The miner also said the manufacturer would not receive shares in Diamcor in return for the funding.
“This financing is the result of long-term relationships we have developed with key associates in Dubai over many years and the mutual vision our companies share on the merits of building a growing supply of gem-quality non-conflict natural rough diamonds for the luxury-jewelry sector,” said Diamcor CEO Dean Taylor. “While 2024 was a challenging year for everyone in the diamond industry, we believe the factors responsible for this will ultimately begin to stabilize by the second half of 2025, and this financing will help to ensure we are well-positioned and ready for this anticipated recovery.”
KELOWNA, BC / ACCESS Newswire / January 27, 2025 / Diamcor Mining Inc. (TSX-V:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or the “Company”), a well-established Canadian diamond mining company with a proven history in the mining, exploration, and sale of rough diamonds is pleased to announce the Company has entered into a non-binding letter of intent for a non-dilutive financing (the “Financing”) of up to USD $5,000,000 with a well-established Dubai based manufacturer and supplier of bridal and anniversary diamonds to the global market. The commercial terms of the Financing will be finalized in the course of negotiating the associated definitive documentation and are expected to include a security interest, an interest component and a revenue participation component. The proceeds of the Financing will be used to expedite the processing of previously stockpiled oversized material, the concurrent deployment of additional assets aimed at significantly increasing processing volumes for the long-term at the Company’s Krone-Endora at Venetia Project (the “Project”), as well as, the continued advancement of the work programmes previously underway, bulk sampling in the greater areas of the Project, and for general corporate purposes. There will be no issuance of any shares or warrants associated with the Financing.
“This financing is the result of long-term relationships we have developed with key associates in Dubai over many years, and the mutual vision our companies share on the merits of building a growing supply of gem quality non-conflict natural rough diamonds for the luxury jewelry sector”, noted Diamcor CEO Mr. Dean Taylor. “While 2024 was a challenging year for everyone in the diamond industry, we believe the factors responsible for this will ultimately begin to stabilize by the second half of 2025, and this financing will help to ensure we are well positioned and ready for this anticipated recovery”.
The Financing is subject to the regulatory approval of the TSX Venture Exchange along with completion of all definitive documentation and filings as required.
Results of 2024 Annual General and Special Meeting
The Company also wishes to announce that Shareholders passed each of the resolutions described in the Company’s proxy materials by the required majority of voting at the Company’s Annual General and Special Meeting (the “AGM”) held on December 30, 2024.
The total number of votes cast for each resolution is set out in the table below.
NUMBER OF SHARES
PERCENTAGE OF VOTES CAST
MOTIONS
FOR
AGAINST
WITHHELD/ ABSTAIN
RESTRICTED
NON VOTE
FOR
AGAINST
WITHHELD/ ABSTAIN
Number of Directors
88,320,583
203,568
0
0
0
99.77%
0.23%
0.00%
Dean H. Taylor
86,003,393
0
1,380,398
0
1,140,360
98.42%
0.00%
1.58%
Darren Vucurevich
86,642,334
0
741,457
0
1,140,360
99.15%
0.00%
0.85%
Dr. Stephen Haggerty
86,847,334
0
536,457
0
1,140,360
99.39%
0.00%
0.61%
D. Wayne Howard
87,365,156
0
18,365
0
1,140,360
99.98%
0.00%
0.02%
Appointment of Auditors
88,524,116
0
35
0
0
100.0%
0.00%
0.00%
Amendment to Stock Option Plan
64,644,242
*
2,183,438
0
20,556,111
1,140,360
96.73%
3.27%
0.00%
*Excluding 20,556,111 shares held by Insiders
TOTAL SHAREHOLDERS VOTED BY PROXY: 41
TOTAL SHARES ISSUED & OUTSTANDING: 168,638,937
TOTAL SHARES VOTED: 88,524,151
TOTAL % OF SHARES VOTED: 52.49%
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds. The Company’s primary focus is on the mining and development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. Well known Luxury Retailer Tiffany & Co provided the Company with financing to expedite the advancement of the Project and holds a first right of refusal to acquire rough diamonds under 10.8 carats in size at then market prices for the life of the Project. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.
About the Krone-Endora at Venetia Project
Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company is also advancing an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. These deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
At Proven and Probable, we dive deep into the latest developments shaping the world of mining, royalties, and resource investments. 📈 Here’s what’s making headlines at EMX Royalty Corporation:
🔹 Strong Financial Results: EMX’s latest financial update showcases robust performance and strategic fiscal management. 🔹 Share Buyback Completion: The successful conclusion of their $5 million share buyback program underscores their commitment to enhancing shareholder value. 🔹 Strategic Divestment: EMX has executed an agreement to sell four projects in the western USA to Pacific Ridge Exploration, streamlining their portfolio. 🔹 Armenia Expansion: The acquisition of royalty interests in Hayasa’s Urasar Project further solidifies EMX’s position in the region. 🔹 Peruvian Opportunity: EMX’s purchase of a royalty on the Chapi Copper Mine highlights their continued focus on high-potential assets globally.
This is a pivotal moment for EMX Royalty, showcasing their strategic approach to growth, value creation, and global asset diversification.
A conversation with Maurice Jackson of ‘Proven and Probable’ and David Cole of EMX Royalty, the Royalty Generator – NYSE: EMX | TSX.V: EMX
Maurice: EMX Royalty is off to a strong start in 2025. For readers, could you briefly introduce EMX Royalty and its unique investment proposition?
David: Certainly. I’ll start by saying royalties are phenomenal financial instruments embedded with huge optionality, and you want to be exposed to a lot of royalties. My fundamental thesis is that the value of mineral rights is only going to go up over time, as it has throughout our lifetimes. The best way to be exposed to mineral rights is through royalty ownership.
We accumulate royalties around the world, spanning 14 countries, and have built a portfolio of over 150 royalties. We do this through two primary mechanisms: acquiring royalties and generating royalties ourselves by acquiring mineral rights, adding value through geological data, selling assets, and retaining royalties.
Additionally, we make strategic investments along the way, which have been quite profitable. By integrating these three aspects into a synergistic business model, we have built a significant portfolio over the past two decades.
Maurice: You just referenced optionality. Could you expand on that term for someone who might be new to it?
David: That’s a fair question, Maurice, and I get asked about optionality often. It’s a common term within the industry. Essentially, optionality refers to the potential for outcomes—both good and bad—associated with an asset over time. There’s value that can be attributed to this potential.
The most significant aspect of optionality, in our view, is the potential for new discoveries. For example, if we generate or acquire a royalty on a project with a known resource—let’s say, a million ounces of gold in reserve with a 1% royalty—and during production, the geologists discover another half a million or even a million ounces, that additional discovery was not factored into our original acquisition price. That’s discovery optionality.
Other aspects of optionality include commodity prices, which can fluctuate. Over the course of my career, I’ve seen prices generally increase. Over time, as geological understanding improves, infrastructure is developed, and engineering and metallurgical techniques advance, the likelihood of additional discoveries and improved project economics increases.
A great example is the Goldstrike Royalty, which Pierre Lassonde of Franco Nevada acquired for $2 million Canadian dollars. Thanks to discovery optionality and other factors, that royalty has now generated over a billion dollars in cash flow and is still paying. It’s a tremendous example of how optionality can create extraordinary returns. Not every royalty turns out that way, of course, but the potential for these outcomes is what makes royalties so compelling.
Maurice: Within your portfolio, you have the Timok investment—$200,000 initially, I believe. I don’t want to steal your thunder, so can you share the numbers with us?
David: Certainly. So far, Timok has paid about $7 million to us. But that’s just the beginning—there’s potentially half a billion dollars or more coming to us over time based on the existing, known resource. And that’s before we fully account for the new MG Discovery. Zijin Mining recently announced in their last quarterly report that they’ve made a significant, high-grade copper-gold discovery within our royalty footprint. This new discovery is called the MG Zone.
We’ve been able to see its location through satellite imagery, but Zijin hasn’t disclosed the tonnage and grade yet. They’ve indicated they’ll provide more details in their next reporting period. We expect their annual report to be released toward the end of the first quarter or early second quarter.
Maurice: That’s a fantastic example. You mentioned commodity price optionality and the cost to shareholders. Could you explain how royalties mitigate those risks and costs?
David: Absolutely. The beauty of a royalty is that we get paid on the top-line revenue of a mine. Most of our royalties are net smelter return (NSR) royalties, which means we earn a percentage—commonly 1%-4%—of the revenue the mine receives from the smelter. As royalty holders, we don’t pay for the mine’s capital expenditures, exploration costs, or reclamation expenses. We simply receive our royalty payment based on production revenue. This structure exposes us to the upside potential of a project—like discoveries or commodity price increases—without the operational risks and costs borne by the mining company.
Maurice: That’s an profitable value proposition. Let’s transition to EMX’s recent developments. The company recently reported $27 million in cash and cash equivalents and $35 million in long-term debt maturing in 2029. How does this financial standing influence your strategic decisions for 2025 and beyond?
David: Capital allocation is one of the most critical decisions we make to benefit our shareholders. With our shares trading at a discount to price-to-net-asset value (PNAV), we’ve focused on buying back stock. Over the past year, we’ve purchased 5 million shares, fully utilizing the allotment permitted by the TSX exchange. We’ll likely apply for approval to buy back more in the coming year. We’re also incrementally paying down debt and acquiring royalties, all while generating cash flow from top assets like Timok, Caserones in Chile, and Carlin Trend in Nevada.
In addition to share buybacks, we plan to incrementally pay down debt, which, by the way, is held by Franco-Nevada—our capital partner and a significant shareholder. They’ve been a great partner in various royalty acquisitions.
Maurice: For shareholders who may not fully understand, how does the share buyback program impact EMX’s financial health?
David: By reducing the number of outstanding shares, we increase each shareholder’s proportional ownership in the company. When shares are trading below NAV, buybacks effectively create value for shareholders. It’s a tax-efficient alternative to dividends and reflects our confidence in the company’s intrinsic value. Of course, we’re also growing the portfolio organically and through strategic acquisitions, as you’ve seen with recent transactions.
Maurice: Speaking of transactions, let’s start with Armenia, where EMX acquired a royalty interest in the Urasar gold-copper project. What motivated this acquisition, and what potential do you see in the project?
David: This acquisition was motivated by two factors: the geology of Armenia and our trust in the project’s steward, Dennis Moore. Dennis has a proven track record of world-class discoveries, and his involvement gives us confidence.
Geologically, Armenia offers excellent mineral potential, which aligns with our strategy of acquiring assets with strong long-term discovery potential. This royalty adds to the base of our portfolio, exposing us to future upside at minimal upfront cost.
Maurice: How does this transaction align with EMX’s broader strategy and portfolio?
David: This fits perfectly with our early-stage royalty acquisition strategy, where we aim to augment the foundation of our portfolio with assets that offer significant long-term potential.
This deal was part of our joint venture with Franco-Nevada, where they provide a premium for royalties we identify and acquire. This partnership not only validates our due diligence but also allows us to achieve a financial “lift” on the transaction.
Maurice: Let’s move to South America, where EMX recently acquired a royalty on the Chapi copper mine in Peru. Could you elaborate on the significance of this acquisition?
David: Certainly. The Chapi copper mine is located in a region with world-class copper endowment. This acquisition gives us exposure to a proven project with immediate cash-flow potential and substantial long-term discovery potential.
This project is being restarted by a team with a solid track record of copper production, and we anticipate cash flow within a couple of years. Beyond the restart, the exploration upside is what excites us most—it’s a classic example of how optionality can transform a royalty into a company-making asset.
Maurice: The optionality in the Chapi copper mine acquisition seems consistent with EMX’s strategy. Can you expand on the timing and significance of securing cash-flowing assets like this?
David: Acquiring cash-flowing or near-term cash-flowing assets is a deliberate part of our strategy. While we excel at generating royalties organically, the reality is that acquiring royalties on producing or development-stage assets can accelerate the financial returns to our shareholders.
The Chapi royalty exemplifies this. It strengthens our portfolio’s cash flow potential while maintaining long-term upside through exploration. By securing a mix of cash-flowing and earlier-stage royalties, we achieve a balanced portfolio that supports near-term financial health and long-term growth.
Maurice: Sticking in Peru, where EMX received an early property payment from Aftermath Silver. Aftermath Silver made an early $2.9 million property payment for the Berenguela project in Peru. How does this early payment impact EMX’s cash flow and plans for similar agreements?
David: EMX is fully supportive of what Aftermath Silver is doing on the ground there. They’re advancing a very interesting manganese and silver deposit, with some copper exploration on the property as well. We’re quite interested in that long-term copper optionality; there’s potential for the discovery of new copper deposits. But the manganese and silver deposit is particularly compelling.
The manganese, of course, is an important metal in the battery business, and this deposit has the potential to be a key source of manganese for batteries. That said, we’ll let them work on that. For us, a nice aspect is that we’re just sitting back here as a royalty holder. There are specific payments that have to be made to us over time. We’ve allowed them some flexibility—one payment was made a little late in exchange for an interest fee, and another was made a little early for a small reduction. We’re supportive of them advancing this asset. I believe it’s being managed by some very capable people.
Maurice: A good symbiotic relationship there. Now, let’s visit the U.S., where EMX announced the sale of four projects to Pacific Ridge Exploration. What benefits does this transaction bring to EMX, and how does it align with your growth strategy?
David: This is right down the alley of EMX’s bread-and-butter royalty generation business. We go out, acquire prospective mineral rights—commonly very inexpensively—consolidate data, collect additional field data, and illustrate prospectivity by building geological models. These models demonstrate the potential for significant gold or copper deposits. We then sell the projects on, often to junior companies, for a combination of commercial terms. These typically include share payments, incremental payments over time, and always a royalty at the end of the day.
This transaction with Pacific Ridge is just another example of what we do repeatedly—roughly 20 projects a year, and we might exceed that this year. These deals build long-term discovery optionality at the base of our portfolio pyramid. At the top, we have producing royalties; at the base, we have exploration assets being advanced using other people’s expertise and money, with EMX as the long-term beneficiary.
Maurice: Diversification seems to be a recurring theme in EMX’s strategy. How does the company ensure that its acquisitions align with its broader objectives?
David: Diversification is indeed one of our core principles. When evaluating acquisitions, we focus on several key criteria: the quality of the underlying asset, the jurisdiction, the operator’s track record, and the potential for long-term upside.
Our acquisitions span various geographies, commodities, and stages of development to reduce risk and enhance returns. For example, our portfolio includes royalties on gold, copper, and polymetallic projects in North and South America, Europe, Asia, and Australia. This global reach allows us to capitalize on opportunities in different markets while mitigating exposure to regional risks.
Maurice: It’s clear that EMX has been strategic in its acquisitions. As we wrap up, what’s next for the company in 2025 and beyond?
David: We’re fortunate to be in a strong position with positive cash flow for seven consecutive quarters. We anticipate this continuing for some time, driven by key assets like our Caserones royalty in Chile, operated by Lundin Mining Corporation. That’s performing nicely, with significant exploration work ongoing.
Zijin Mining is also producing at Timok in Serbia, generating handsome payments. Additionally, our royalty on the Carlin Trend in Nevada—advanced and produced by Barrick as part of their joint venture with Newmont—is generating over $4 million annually.
With these assets delivering robust returns, our focus is on astute capital allocation. This includes paying down debt, buying back shares while undervalued, and pursuing incremental acquisitions like the one at the Chapi Mine in Peru.
Maurice: Has EMX considered changing its logo to a cow surrounded by cash? EMX is quite literally becoming a cash cow.
David: I’ve said for years we’d become one, and we have! We’re thrilled to be in this position, allocating cash strategically to grow the portfolio, buy more royalties, and repurchase shares when the price is low. Managing long-term debt and driving shareholder value remains our priority.
Maurice: You’ve touched on this, but how do you plan to navigate potential challenges in the current market environment?
David: The money is coming in, and our royalties are performing exceptionally well. While metal prices are strong, the natural resource capital markets have been tough. It’s an intriguing bifurcation, but we’re capitalizing on our strengths.
By buying back stock at a discount to our net asset value, we maximize value. Once rectified, we’ll allocate more capital to expand the royalty portfolio. It’s about understanding and deploying our capital effectively in any market.
Our portfolio also boasts exciting developments. For instance, Zijin’s MG Zone in Serbia, with 12 drill rigs on-site, is remarkable. South 32’s Peak Discovery in Arizona could be a game-changer with promising copper-zinc-silver drill results. These discoveries reinforce why owning royalties is so valuable.
Maurice: Absolutely! In closing, what did I forget to ask?
David: Nothing comes to mind, Maurice. Insider buying, share buybacks, strong cash flow, and global discoveries—all make EMX a company worth following.
Maurice: If someone wants to learn more about EMX Royalty, where can they go?
What will the stock market look like in 2025, a year that has started grimly with catastrophic fires burning in California and dangerous snow and ice blanketing the east even before the presidential inauguration?
While interviewing 321gold’s Bob Moriarty this week on CEO & Market Expert Interviews on YouTube, Lucijan Valkovic said his own unofficial private polling found that 95% of people he asked said the market is heavily overvalued and is “about to crash or correct big.”
Moriarty said that while he was a “contrarian,” and it scares him “when 95% of people agree on anything,” the market is “clearly in a bubble.”
“The stock market is a giant bubble in search of a pin,” said Moriarty.
“There are some immense forces in play (and) no one can really predict what’s going to happen,” he said. “However, it’s very easy to predict whatever happens is going to be bad. So, my belief is the stock market’s an accident waiting to happen. And it’s like Bitcoin, you’ve got a lot of people playing musical chairs. And everybody thinks when the music stops, they’re going to be able to reach a chair. And there’s one slight problem with that theory, . . . and that is, what if there’s no chairs?”
Moriarty predicted the fall would be worse than 1929, “much worse.”
“We are going to go through pain, and it’s going to be extreme pain because this economy is so far out of whack,” he said.
Precious Metals as Insurance Policies
How to protect yourself? “You should put your money in something that is not part of the bubble,” Moriarty said.
“I happen to believe the highest value of precious metals is not their investment potential; it’s their potential as an insurance policy against chaos,” he said. “But the cheapest thing in the world right now is resource stocks. They’re literally being given away.”
The world’s central banks have “added significant amounts of gold to their reserves in recent years — and their buying continues even as gold’s price reaches new highs,” Sharon Wu reported for CBS News in December.
“While the precious metal offers unique protections during economic uncertainty, it also comes with challenges,” she wrote. “Storage costs and lack of income generation, for example, make it a complex investment choice.”
However, Valkovic noted that central bank gold purchases are expected to continue this year.
Gold and silver are insurance policies “against financial chaos,” Moriarty told him. “We all need reserves. You need it as an individual. You need it as a family. You need it as a town or city. You need it as a country. And you certainly need it as a bank.”
Moriarty said the banks are looking at the world and the state of the economy and deciding they need extra protection from negative events.
“There are some very dangerous black swans flying, and we need to protect ourselves,” he said. ” And that’s exactly the reason that individuals should be doing the same thing.”
Could Silver Outperform Gold?
Both gold and silver recently hit four-week highs, and gold is expected to have another solid year, but investors should brace for some volatility and temper their upside expectations, Kirill Kirilenko, Senior Analyst at CRU, told Kitco News’ Neils Christensen.
But he predicted gold prices would average around US$2,580 per ounce in 2025 as markets react to Trump’s proposed economic policies. The analyst had more optimism for silver, forecasting an average price of US$31.35 per ounce for the year.
“Silver could slightly outperform gold this year, driven by an increasingly tight fundamental outlook,” he said.
The British research firm expects silver, which as nature’s most conductive metal remains integral to the green energy transition, to remain well-supported.
Moriarty gave another reason for looking at the white metal. “Silver is absurdly cheap,” he said. “My belief is if you’re faced with three or four different alternatives for investing, you should buy what’s cheap, and you should save.”
“Silver has got a long way to run,” Moriarty said. “My opinion is silver will always be the most attractive investment in the resource sector.”
Nuclear: Very Cheap, Very Safe
Moriarty also said he saw uranium stocks performing well as artificial intelligence (AI) and a surging number of data centers recently helped push the price for element, the main fuel for nuclear reactors, to a record high, according to a Yolowire release posted on Barchart.
Prices for enriched uranium rose to US$190 per separative work unit, the commodity’s standard measure, which is up 239% from US$56 three years ago,” according to the report.
“A resurgence of interest in nuclear power has come as governments and companies source carbon-free power to service major industrial facilities and communities,” the release said.
“Nuclear power is a very cheap, very safe form of energy,” Moriarty said. “And we need more of it. … Green energy has been oversold. It is not a solution. It is a very expensive problem.”
But which uranium stocks to invest in? “I think you could walk into a dark room, and you could put the names of the stocks up on a wall. You could shut the light off and throw a dart, and hit something. Uranium is very cheap.”
Moriarty said he doesn’t know which bubble will burst first. But “we’ve got a lot of bubbles, and it is a time for safety, and in a time for safety, you go for what is the least bubbly,” he said.
“The least bubbly, I like that,” agreed Valkovic.
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Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
North Vancouver, British Columbia–(Newsfile Corp. – January 23, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 3,866.8 metres of infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on Zone 5 and includes the Zone’s best assay result to-date of 2,749.86 g/t of gold over 0.3 metres (88.42 oz/t of gold over 1.0 feet).
All drilling was completed from existing near surface underground workings. The Company intersected high-grade mineralized structures in 24 holes drilled up-dip, down-dip, and south along strike of the UR2 and URW3 lodes where current mining activities are in progress. 17 holes intersected multiple high-grade mineralized structures, all of which are near existing underground workings. Most of the drill holes did not exceed 130 metres in length from underground drill stations. Drill results include multiple bonanza grade assays such as 2,749.86 g/t, 269.5 g/t and 235.2 g/t over narrow widths of 0.3 metres. Due to proximity of drill results to existing workings there is a strong probability that some of these structures can be incorporated into the mine plan in the next six to twelve months.
Bonanza grades in Zone 5 at the Tuvatu Alkaline Gold Project are not unexpected. Previously the Company announced high-grade drill results from Zone 5 including 1,986.23 g/t gold over 0.6 metres (see press release dated December 13, 2023), 1,568.55 g/t over 0.3 metres (see press release dated June 5, 2024), and 1,517.79 g/t over 0.3 m (see press release dated December 17, 2024).
Lion One Chairman and CEO Walter Berukoff commented: “We’re extremely pleased with the new results from our Zone 5 infill and grade control drill program. These significant underground drill results continue to confirm the high-grade nature of the Tuvatu Alkaline gold system and provide strong support for our ongoing mining efforts in Zone 5. We’re excited to expand our near-term mine plan in Zone 5 and look forward to mining these areas in 2025. I was particularly interested to see that three of the highest-grade intersections were all identified in hole TGC-265 as separate and distinct structures.”
Highlights of New Drill Results:
2,749.86 g/t Au over 0.3 metres (TGC 265, from 96.2 m depth) Best assay to-date in Zone 5
162.97 g/t Au over 0.6 m (including 269.5 g/t Au over 0.3 m) (TGC-281, from 75.89 m depth)
53.11 g/t Au over 1.5 m (including 235.2 g/t over 0.3 m) (TGC-282, from 92.6 m depth)
96.5 g/t Au over 0.6 m (TGC-288, from 28.8 m depth)
46.94 g/t Au over 1.2 m (including 86.44 g/t Au over 0.3 m) (TGC-265, from 45.7 m depth)
47.22 g/t Au over 0.9 m (including 62.25 g/t over 0.3 m (TGC-265, from 81.1 m depth)
69.38 g/t Au over 0.6 m (including 126.5 g/t over 0.3 m (TGC-267, from 125 m depth)
*Drill intersects are downhole lengths, 3.0 g/t cutoff. See Table 1 in Appendix for additional data.
Figure 1. Location of the Zone 5 drilling reported in this news release. Left image: Plan view of Tuvatu showing Zone 5 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Yellow dashed square represents the area shown in the right image. Right image: Oblique view of Zone 5 drilling looking approximately east-northeast. Zone 5 drilling is targeting the up-dip and down-dip extensions of the mineralized lodes above and below current underground developments, shown in red.
The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south oriented lodes (UR1 to UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and several of the western lodes (URW2, URW2A, URW3). These lodes are steeply dipping structures that converge at approximately 500 m depth to form Zone 500, which is the highest-grade part of the deposit and is interpreted to be a major feeder zone at Tuvatu. The system remains open at depth with the deepest high-grade intersections occurring below 1000 m depth.
The drilling reported in this news release targeted the near-surface portions of the UR2 and URW3 lodes. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes, directly above and below current underground developments. The drilling targeted a 200 m strike length of the UR2 and URW3 lodes. The current total strike length of the UR2 lode is approximately 620 m, while that of the URW3 lode is approximately 330 m. Both lodes remain open along strike and at depth.
The Zone 5 grade control drilling reported in this release was conducted from two underground locations: the 1135 drill station and the 1090 drill station. These drillholes are designed to intersect the mineralized lodes in a perpendicular to sub-perpendicular orientation such that the mineralized intervals approximate the true width of the lodes. Grade control drilling is being conducted on a 10 m grid to provide a detailed understanding of the geometry and mineralization of the Zone 5 lodes. The purpose of the current Zone 5 grade control drill program is to enhance the mine model and inform stope design in advance of mining in the target areas. The majority of the high-grade intervals reported in this release are located within 30 m of underground developments and are anticipated to be included in the mine plan in 2025. Highlights of the Zone 5 drilling reported here are shown in Figure 2.
Figure 2. Zone 5 infill and grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Plan view looking down with north to the left. The primary areas targeted by the Zone 5 drilling are the up-dip and down-dip areas of the UR2 and URW3 lodes above and below current underground developments. These areas are scheduled for near-term mining. Drill holes are oriented perpendicular to sub-perpendicular to the mineralized lodes.
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and reviewed by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.
Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.
Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Appendix 1: Full Drill Results and Collar Information
Table 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TGC-0265
1876384
3920429
94
87.7
-11.1
116.0
TGC-0267
1876380
3920530
129
109.8
-10.5
131.0
TGC-0268
1876384
3920429
94
96.1
-14.0
10.7
TGC-0269
1876384
3920429
94
96.3
-10.3
110.2
TGC-0271
1876381
3920530
130
114.8
10.5
136.6
TGC-0273
1876384
3920429
94
103.2
-10.9
91.8
TGC-0275
1876384
3920428
94
111.2
-9.9
85.8
TGC-0277
1876384
3920428
94
119.3
-10.5
85.7
TGC-0278
1876381
3920530
131
116.9
20.3
135.0
TGC-0279
1876385
3920425
96
140.4
11.7
90.6
TGC-0281
1876384
3920425
96
154.2
11.6
102.5
TGC-0282
1876381
3920530
131
113.2
14.8
139.2
TGC-0284
1876381
3920530
131
108.5
19.8
135.7
TGC-0286
1876383
3920424
96
165.4
12.4
111.5
TGC-0287
1876381
3920532
131
88.2
14.4
118.0
TGC-0288
1876381
3920531
131
96.7
14.1
115.1
TGC-0289
1876383
3920424
96
175.0
10.5
126.3
TGC-0291
1876381
3920532
131
87.4
20.0
120.7
TGC-0292
1876382
3920425
94
174.2
-10.4
13.7
TGC-0294
1876382
3920425
94
174.8
-12.5
127.7
TGC-0295
1876381
3920531
131
95.2
23.0
180.7
TGC-0296
1876382
3920426
94
175.2
-24.6
152.1
TGC-0297
1876381
3920530
131
102.0
23.1
120.0
TGC-0299
1876382
3920426
94
174.8
-35.5
200.7
TGC-0300
1876381
3920530
130
104.1
13.5
122.1
TGC-0301
1876381
3920531
130
96.2
13.3
121.4
TGC-0302
1876383
3920425
94
160.5
-10.5
112.8
TGC-0303
1876380
3920530
129
120.6
-20.6
160.0
TGC-0304
1876383
3920426
94
155.6
-31.4
122.6
TGC-0306
1876380
3920529
129
126.1
-19.6
160.1
TGC-0307
1876383
3920426
93
154.5
-44.9
154.1
TGC-0309
1876384
3920427
93
130.5
-45.1
140.6
TGC-0310
1876380
3920532
128
78.4
-48.0
15.8
Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).
North Vancouver, British Columbia–(Newsfile Corp. – January 15, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to report record quarterly gold sales and gold production from the Tuvatu Gold Mine in Fiji for Q4 CY2024.
Summary of Quarterly Results:
4,741 oz of gold sold
4,300 oz of gold recovered
29,525 tonnes milled
Total revenue of C$17,993,020
72% increase in revenue compared to previous quarter
Quarterly Production Results
Lion One Metals sold approximately 4,741 oz of gold and 841 oz of silver during the three-month period ending December 31st, 2024. The average sale price for the quarter was C$3,787 per ounce of gold sold. Total revenue for the quarter was C$17,993,020, which represents a 72% increase in revenue compared to the previous quarter’s revenue of C$10,470,518. Gold revenue for the quarter was enhanced by higher gold prices, improved gold grades and recoveries, and the addition of unsold gold from the previous quarter. Approximately 4,300 oz of gold was recovered during the quarter, compared to 3,638 oz from the previous quarter. This represents an 18% increase in quarter-over-quarter gold production and is a new record for the company.
Table 1. Quarterly Production and Operations Summary
Q4 CY2024
Q3 CY2024
Gold sold
oz
4,741
3,129
Silver sold
oz
841
1,093
Total Revenue
C$
17,993,020
10,470,518
Plant throughput
tpd
321
341
Gold grade
g/t
5.49
4.59
Gold recovery
%
82.50
78.20
Gold produced
oz
4,300
3,638
2024 was the first calendar year of production at Tuvatu. The company has achieved consistent quarter-over-quarter increases in gold production, gold recoveries, and gold grades since plant commissioning was complete in Q1 CY2024 (Figure 1). The company is currently in the 300 tpd pilot plant phase of operations, with expansion to the 600 tpd phase of operations anticipated in 2026.
Lion One Chairman and CEO Walter Berukoff stated: “2024 was a pivotal year for Lion One Metals as we brought the Tuvatu mine in Fiji into production at the pilot plant level. We are delighted to have achieved consecutive increases in production every quarter throughout 2024, culminating in a record C$18.0M of quarterly revenue at the end of the year. As we continue to develop the mine and unlock the higher-grade portions of the deposit, we look forward to continuing this trend of increased production at Tuvatu, and ultimately doubling our plant capacity from 300 tpd to 600 tpd in 2026.”
Figure 1. Tuvatu Average Quarterly Gold Grade and Recovery, 2024. Gold grades and recovery have consistently increased quarter-over-quarter at Tuvatu since pilot plant commissioning was complete in Q1 CY2024.
Qualified Persons Statement In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
About Lion One Metals Limited Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Vancouver, British Columbia–(Newsfile Corp. – January 9, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX“) is pleased to announce that the Company ended the year with approximately $27 million in cash and cash equivalents and $35 million in long term debt that matures in July 2029 under an agreement with Franco Nevada Corporation. The Company’s balance sheet was strengthened because of several transactions closing before the end of the December quarter as discussed below.
Sale of Shares in Ensero Holdings Inc (“Ensero”) – Ensero repurchased all our common and preferred share holdings in Ensero for approximately $5.6 million. The Company invested approximately $3.8 million in Ensero in 2020, and since making the investment has earned approximately $1.0 million in dividends. The Company has sold all its holdings in Ensero as of December 31, 2024.
Early Property Payment at Berenguela Royalty Property in Peru – The Company received an early property payment from Aftermath Silver Ltd (“Aftermath”) totaling $2.9 million. Aftermath has one final payment totaling $3.25 million which is due in November 2026. The Company has a sliding-scale net smelter return (NSR) Royalty on all mineral production from the Project for the life of mine commencing at the declaration of commercial production, and includes a 1.0% NSR royalty on all mineral production when the silver market price is up to and including US$25 per ounce, and a 1.25% NSR royalty on all mineral production when the silver market price is over US$25 per ounce and when the copper market price is above US$2 per pound.
Royalty buy-down Completed at Park Salyer Property in Arizona – The Company has received $500,000 from Arizona Sonoran Copper Company Inc. (“Arizona Sonoran”) from the buyback of 1.0% NSR royalty covering the Park Salyer Property which is part of the Arizona Sonoran’s Cactus Property. The buy-down by Arizona Sonoran reduces the Company’s NSR royalty on Park Salyer from 1.5% to 0.5% which is not capped and cannot be reduced.
About EMX – EMX is a precious, and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
Vancouver, British Columbia–(Newsfile Corp. – January 8, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce it has completed its existing Normal Course Issuer Bid (“NCIB”) program announced on February 7, 2024. Under the NCIB, the Company was allowed to purchase for cancellation up to 5,000,000 common shares over a twelve-month period representing approximately 4.45% of the issued and outstanding shares prior to commencement. EMX has purchased for cancellation the full 5,000,000 common shares at an average price of US$1.65 per share totaling approximately US$8.3M including a recently purchased 1,375,600 shares in a block trade from an undisclosed seller at a price of approximately US$1.64 (C$2.35) per share.
About EMX. EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
