EMX Royalty Corp

CIK:0001285786|SEC Filings

Consolidated Statements of Loss - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Loss - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenue [abstract]
Revenue and Other Income (Note 13)	$ 27,448	$ 26,621
Costs and Expenses
General and administrative (Note 14)	7,084	6,045
Royalty generation and project evaluation, net (Note 15)	10,984	10,806
Depletion, depreciation, and direct royalty taxes (Note 7)	6,647	5,246
Share-based payments (Note 16)	1,769	1,577
Total costs and expenses	26,484	23,674
Income from operations	964	2,947
Gain (loss) on revaluation of investments	4,071	(1,732)
Loss on sale of marketable securities	(2,020)	(73)
Gain on revaluation of derivative liabilities (Note 9)	282	551
Equity income from investment in SLM California (Note 6)	4,329	4,134
Foreign exchange loss	(600)	(1,010)
Loss on settlements and modifications, net (Notes 4 and 10)	(53)	(314)
Gain (loss) on revaluation and provisioning of receivables (Note 5)	8	(2,735)
Finance expense (Note 10)	(3,814)	(5,091)
Other losses (Note 17)	(2,326)	0
Impairment charges (Note 7)	(399)	(70)
Income (loss) before income taxes	442	(3,393)
Deferred income tax recovery (expense) (Note 11)	(770)	282
Income tax expense (Note 11)	(2,960)	(1,522)
Loss for the year	$ (3,288)	$ (4,633)
Basic earnings (loss) per share (in dollars per share)	$ (0.03)	$ (0.04)
Diluted earnings (loss) per share (in dollars per share)	$ (0.03)	$ (0.04)
Weighted average number of common shares outstanding - basic (in shares)	112,558,197	111,154,405
Weighted average number of common shares outstanding - diluted (in shares)	112,558,197	111,154,405

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Loss for the year	$ (3,288)	$ (4,633)
Items not affecting operating activities:
Interest income	(1,920)	(1,549)
Effect of exchange rate changes on cash and cash equivalents	213	(70)
Items not affecting cash:
Gain (loss) on revaluation of investments	(4,071)	1,732
Equity income from investment in SLM California (Note 6)	(4,329)	(4,134)
Share-based payments (Note 16)	2,346	2,068
Loss (gain) on revaluation and provisioning of receivables (Note 5)	(8)	2,735
Deferred income tax expense (recovery) (Note 11)	770	(282)
Depletion and depreciation (Note 7)	6,528	5,220
Finance expense (Note 10)	3,814	5,091
Shares received pursuant to property agreements	(82)	(2,526)
Other non-cash movements (Note 21)	2,047	(1,191)
Changes in non-cash working capital items (Note 21)	4,798	4,598
Total cash provided by operating activities	6,818	7,059
Cash flows from investing activities
Dividends and other distributions (Note 6)	6,955	7,225
Acquisition of royalty and other property interests, net (Note 7)	(3,500)	(169)
Purchase of investment in SLM California (Note 6)	(4,742)	(3,517)
Proceeds from the sale of preferred shares in Ensero Holdings Inc. (Note 4)	4,500	0
Sale of fair value through profit and loss investments, net	2,431	4,921
Other movements (Note 21)	704	367
Total cash provided by investing activities	6,348	8,827
Cash flows from financing activities
Proceeds from Franco-Nevada loan (Note 10)	35,000	0
Loan repayments (Note 10)	(34,660)	(10,000)
Interest paid (Note 10)	(2,655)	(3,142)
Purchase of common shares returned to treasury	(5,658)	0
Proceeds from exercise of options and settlement of RSUs, net	1,600	1,085
Financing costs	(484)	(60)
Total cash used in financing activities	(6,857)	(12,117)
Effect of exchange rate changes on cash and cash equivalents	(213)	70
Change in cash and cash equivalents	6,096	3,839
Cash and cash equivalents, beginning	20,677	16,838
Cash and cash equivalents, ending	$ 26,773	$ 20,677

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents (Note 3)	$ 26,773	$ 20,677
Investments (Note 4)	6,034	6,628
Trade receivables and other assets (Note 5)	13,982	7,743
Total current assets	46,789	35,048
Restricted cash	144	144
Investments (Note 4)	0	3,940
Trade receivables and other assets (Note 5)	2,938	11,207
Investment in SLM California (Note 6)	61,126	58,827
Royalty and other property interests (Note 7)	44,771	48,099
Property and equipment	706	853
Deferred charges	429	450
Total non-current assets	110,114	123,520
Total Assets	156,903	158,568
Current liabilities [abstract]
Accounts payable and accrued liabilities	4,450	2,818
Advances from joint venture partners (Note 8)	413	994
Derivative liabilities (Note 9)	425	754
Loan payable (Note 10)	0	32,752
Total current liabilities	5,288	37,318
Non-current liabilities [abstract]
Loan payable (Note 10)	34,550	0
Deferred income tax liability (Note 11)	1,585	815
Total non-current liabilities	36,135	815
Total Liabilities	41,423	38,133
Shareholders' Equity
Capital stock (Note 12)	159,525	160,913
Reserves	18,341	18,620
Deficit	(62,386)	(59,098)
Total Shareholders' Equity	115,480	120,435
Total Liabilities and Shareholders' Equity	$ 156,903	$ 158,568