Tiger Brokers

Elemental Royalty Reports Acquisition of Royalty Portfolio

MT Newswires Live
Sep 22

Elemental Royalty (ELE) said late Monday it has struck deals to "materially" increase its cash-generative capacity of its royalty portfolio, simplify corporate structure and reduce its cost base.

The company said it agreed to buy a portfolio of precious metals assets consisting of five streams and royalties from Orion Mine Finance for $200 million in cash and $90 million in equity.

Elemental also said it has struck a non-binding agreement for Carlin East to acquire its Generation Business in return for a cornerstone equity stake in Carlin East.

CEO David Cole has resigned to take up a leadership position at Carlin East, the firm said, adding that COO Frederick Bell has been appointed to the role of CEO, the company said.

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