Morning Briefing: Elemental Royalty Announces US$290 Million Acquisition of Royalty and Streaming Portfolio

Elemental Royalty's $290M portfolio acquisition and multiple mid-tier feasibility studies signal accelerating consolidation and project de-risking in the mining royalty and development space.

• Elemental Royalty's $290M deal: Acquires a five-asset precious-metal streaming/royalty portfolio from Orion Mine Finance ($200M cash, $90M equity) while divesting its Generation Business to Carlin East, cutting G&A over 25%; CEO David M. Cole moves to lead Carlin East, Frederick Bell becomes new CEO.
• Meridian's Cabaçal DFS: Brazil gold-copper-silver project shows US$2.108B after-tax NPV, 0.9-year payback, US$322M initial capex, and output of ~983,537 oz gold, 180,634 tons copper, 1.78M oz silver at AISC of $1,056/oz gold-equivalent.

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