Elemental Royalties: A $290 Million Deal Changes the Game

Elemental Royalties' $290M Orion acquisition and Panuco royalty close mark a shift to self-funded, larger-scale dealmaking.

• $290M Orion acquisition: Elemental bought a royalty/streaming portfolio from Orion Mine Finance covering five assets, including a 50% silver stream at Ruby Hill (Nevada, IAT), a 5% gold stream at Karoussa (Guinea, Mansa), 2.5% GRR at La Negra, 1% Goldstream at Snowy River, and 1% NSR at Homestake District.
• Back-to-back deals: The Orion deal was announced just six days after closing the Vizsla Silver royalty acquisition at Panuco (Mexico) on September 15th, following delayed Mexican antitrust approval.

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