Elemental Royalty posts Q2 revenue of $23.8M, GEOs hit record

Elemental Royalty Corporation (NASDAQ: ELE) reported second-quarter revenue of $23.8 million and a company record of 5,248 gold equivalent ounces (GEOs) for the three months ended June 30, 2026, according to a press release statement.

Operating cash flow reached $15.5 million for the quarter, also a company record, while adjusted EBITDA came in at $17.4 million, up 99% from the same period in 2025. Net income for Q2 2026 was $3.6 million, compared with $160,000 in Q2 2025. General and administrative expenses rose to $5.6 million from $2.2 million a year earlier.

For the first half of 2026, the company reported 10,231 GEOs and revenue of $48.1 million. The company said it remains on track to meet its full-year 2026 guidance of 17,000 to 21,000 GEOs and revenue of $76.5 million to $94.5 million. Guidance assumes gold at $4,500 per ounce and copper at $5.50 per pound.

Cash and cash equivalents stood at $74.2 million as of June 30, 2026. Key producing assets during the quarter included Karlawinda, Bonikro, Caserones, Timok, and Leeville. Subsequent to the quarter, Caserones operations were suspended for 13 days due to severe winter storms, prompting operator Lundin Mining Corporation (TSX: LUN) to guide annual copper production toward the lower half of its 130,000 to 140,000 tonne range.

During the quarter, the company declared a dividend of $0.03 per share and repurchased 128,280 common shares for $2.0 million under its normal course issuer bid. The company also announced a proposed acquisition of Vizsla Royalties, which had received shareholder and court approvals as of June 30, 2026, with closing expected in Q3 2026. Additionally, Elemental acquired a 2.5% net smelter return royalty on the Western Queen Gold Project for approximately $7.25 million.

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