Versamet Royalties Corp.
VMET.TO
Toronto Stock Exchange12.92
CAD
-0.06
- -
Versamet Royalties Corp.
VMET.TO
(Toronto Stock Exchange)
Recent
price
12.92
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- Versamet Royalties Corporation is a Vancouver, British Columbia-based diversified metals royalty and streaming company that acquires, holds and manages royalties, metal streams and similar interests in mining operations and development projects globally. Incorporated in 2011 and formerly known as Sandbox Royalties Corp., the Company operates a portfolio of 29 royalty and streaming interests spanning producing, near-term cash-flowing, development and exploration-stage assets, without directly operating mines or bearing the associated exploration, development, capital or operating costs. Its common shares trade on the Toronto Stock Exchange and Nasdaq under the symbol VMET. The Company’s business focuses primarily on precious metals while providing exposure to copper, nickel, cobalt, zinc, lead, graphite, uranium, molybdenum and platinum-group metals across Canada, the United States, Mexico, Peru, Brazil, Burkina Faso, Namibia, Sweden, Ethiopia, Côte d’Ivoire, Colombia, Nicaragua, Australia and Mongolia. Versamet’s principal products are mineral royalty and metal-streaming interests, including net smelter return royalties, gross-revenue royalties, gold-production interests and precious- and base-metal streams. Its producing portfolio includes a 1.26% gold interest in the Greenstone mine in Ontario, Canada; a 2.7% NSR royalty on the Kiaka gold mine in Burkina Faso; a 0.21% NSR royalty on the Blackwater gold mine in British Columbia, Canada; a 95.8% copper stream on the Kolpa mine in Peru; a 90% silver stream on the Rosh Pinah zinc mine in Namibia; a 2.75% NSR royalty on the Santa Rita nickel-copper-cobalt-gold-platinum-group-metals mine in Brazil; and a 2.0% NSR royalty on the Mercedes gold-silver mine in Mexico. Near-term and development interests include royalties on the Cuiú Cuiú gold-silver project in Brazil, El Pilar copper project in Mexico, Toega gold deposit in Burkina Faso, Vittangi graphite project in Sweden, Converse gold-silver project and Mason copper-gold-molybdenum-silver project in the United States, Hackett River zinc-silver-copper-lead-gold project and Prairie Creek zinc-lead-silver project in Canada, and Pilar gold project in Brazil. Exploration-stage holdings include interests in copper, gold, silver, zinc, molybdenum and uranium properties in Canada, Ethiopia, Côte d’Ivoire, Colombia, Peru, Nicaragua, Australia and Mongolia. The Company’s revenue is generated through royalty payments based on mine sales or production and through deliveries of metals under streaming agreements, which it purchases at contractually defined prices and sells at prevailing market prices. Its portfolio is anchored by Greenstone, Kiaka, Rosh Pinah, Kolpa and Santa Rita, which the Company identifies as material assets for U.S. disclosure purposes. As of its latest reported quarterly update, Versamet owns 29 royalties and streams, seven of which are cash-generating, with an additional asset expected to enter cash flow during 2026. Recent strategic developments include the completion of a C$141.6 million bought-deal public offering and a concurrent C$21.7 million private placement with Tether Investments S.A. de C.V. in February 2026; proceeds were used to repay amounts outstanding under the Company’s credit facilities. Versamet began trading on the Nasdaq Capital Market on March 5, 2026, while retaining its TSX listing, and expanded its revolving credit facility to $200 million, with a further $25 million accordion feature, through a facility arranged by Bank of Montreal and National Bank of Canada. The Company also added Tether representative Juan Presa to its board and welcomed Gold Mountains Asset Management Limited, a Zijin Mining Group subsidiary, as a shareholder. In 2025 and 2026, Versamet expanded its asset base through the acquisition of the Kolpa copper stream, the Rosh Pinah silver stream and the Santa Rita royalty, and subsequently acquired a 3.52% life-of-mine gold stream on the Eskay Creek project in British Columbia. Eskay Creek is under construction and is expected to commence production in the second quarter of 2027. The Company continues to pursue growth through acquisitions of high-quality royalty and stream interests, supported by major shareholders including B2Gold Corp., Equinox Gold Corp., Tether and members of the Lundin family.