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

0:01Good morning and welcome back to the Mining Stock Daily Morning Briefing.

0:30in 34. Reuters reports that Iran is ready to reopen the Strait of Hormuz within seven days if the U.S. eases military pressure and lifts its blockade on Iranian ports. The news agency also reported that Saudi Arabia's restarted operations at its east-west pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday. Gold is mostly flat, trading at the 4 ,379 level. copper is up trading at 686, nearing its all-time high it made earlier this month. We'll get to the news from the miners and explore us in just a moment, but first, a mention of the day's sponsor. Today's episode of Mining Stock Daily is brought to you by Vizla Silver.

1:17Vizla Silver is advancing a Panuco silver gold project in Sonola, Mexico, one of the highest grade silver development projects in the world. The project hosts world's largest undeveloped high-grade silver resource, and the company has been aggressively expanding its drill program to grow that resource ahead of a development decision. Learn more at visasilver.ca. And here is what you need to know today. Elemental Royalty is acquiring a five-asset precious metal streaming and royalty portfolio from Orion Mine Finance for$290 million, split between$200 million in cash and$90 million in equity. The company says a deal will boost its net asset value and revenue per share while adding North American and Tier 1 jurisdiction exposure.

2:01In a related move, Elemental will divest its generation business, comprising exploration projects and option agreements to Carlin East in exchange for a cornerstone equity stake. The company says that move will cut G &A by over 25 % and let Elemental keep its upside from its future royalty generation as Carlin East's largest shareholder. Alongside the restructuring, CEO David M. Cole is stepping down to lead Carlin East, with the current CEO and present Frederick Bell taking over as CEO and director. Meridian Mining, a definitive feasibility study for a Casabelle gold-copper-silver project in Brazil delivers a base case after tax and net present value of$2 ,108 ,000 IRR and a 0.9-year payback, improving to$2 ,9 ,135 ,000 IRR at Sprite prices on an initial cap of$322 ,000 ,000.

3:00Over a 13.9-year mine life, the project is expected to produce 983 ,537 ounces of gold, 180 634 tons of copper and 1.78 million ounces of silver at an all-instaining cost of 1056 ounces gold equivalent pre-construction is already underway with 15.9 million in committed contracts the installation license permitted lodge and financing activities progressing bravo mining's pre-feasibility study for its laguna pgm nickel project in brazil delivers a base case after tax net present value of$1.45 billion, 35.1 % internal rate of return and a two-year payback, with a main reserve of 86.7 million tons at 2.77 grams per ton, palladium equivalent, for 7.73 million ounces contained.

3:56Selkirk Copper's PEA, for its restart on its Minto Copper Gold project in the Yukon, delivers an after-tax net present value of 7 % of$494 million Canadian at 47.8 % IRR at planning prices, rising to$1.02 billion and$78.2 IRR at spot prices over a 13-year mine life at 4 ,100 tons per day. The Restart leverages existing infrastructure for strong capital efficiency ratio of 2.71 over 1, and a completed phase one drill prime already grew and M &I resource by 280%. Selkirk is targeting feasibility study and permit amendment by H2 2027. Great Pacific Gold Maidens two-hole program at Eskasi Ridge confirmed a large high temperature alteration system at depth with KAS-015 ending in the strongest sulfide-rich zone encountered.

5:00Both holes returned gold up to 1.55 grams per ton and silver up to 22.4 grams per ton with Pathfinder elements strengthening downhole. Surface mapping is now underway to rank follow-up targets while rigs stay active. K2 Gold's four new holes at its Dragonfly zone intersect a multiple stacked west dipping gold structure 75 meters south of its 2020 discovery. Headlined by DF26-028, 53.34 meters of 2 grams per ton, including a high-grade core of 15.24 meters of 5.33 grams per ton gold. All four holes hit main mineralized corridors, extending the high-grade intersection to 160 meters of a strike, while zones remained open in all directions.

5:51revival gold is 2026 infill drilling at its mercur gold project in utah is now 64 percent complete with 20 new rc results from its main mercur area confirming shallow oxidized gold mineralization suitable for heap leaching including its 0.92 grams per ton over 33.5 meters that says RM26-213. The results support grade and leachability estimates from the 2025 PEA. Volkia Resources completed diamond drilling for its new target, carry at the Pana project in Finland, with assays pending for Q4-2026 and disseminated sulfide mineralized noted in three of five holes. Base of till drilling has now started across a wider Panera license following updated aeromagnetic surveys, aiming to rank the best 5 to 10 of the 24 identified targets for diamond drilling this winter, with the second BOT rig arriving in October.

6:56And lastly, Talisker's resources PEA for its Braylorne Gold Project in British Columbia delivers an after-tax net present value 5 % of$1.048 billion at a 31.3 % IRR at a base case gold of$3 ,500 an ounce. The project will produce an average of 110 ,000 ounces of gold annually over 14-year mine life, drawing on a measured and indicated resource of 206 at 300 ,000 ounces at 8.912 grams per tonne gold and an deferred resource of 3.15 million ounces at 8.73 grams per tonne gold. The mining stock daily morning briefing is produced by Clear Commodity Network. It is distributed throughout the world through your podcast network of choice and at Clear Commodity Network.

7:42That's it today, everyone. Have a great day. Stay safe.