$ELE
Elemental Royalty Corp
CIK:0002086771|SEC Filings
Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Cash flows from operating activities | ||
| Income (loss) for the year | $ 1,772 | $ (364) |
| Adjustments for: | ||
| Depletion and depreciation | 16,359 | 7,218 |
| Impairment charge (Note 9) | 2,017 | 436 |
| Share-based compensation expense (Note 14) | 2,436 | 1,388 |
| Share of profit of associates (Note 9) | (2,203) | (2,036) |
| Loss (gain) on revaluation of financial instruments | (769) | 5 |
| Interest and finance expenses (Note 12) | 478 | 2,028 |
| Tax expense (Note 13) | 4,508 | 1,321 |
| Other non-cash movements (Note 22) | 3,245 | (893) |
| Accounts receivable | 5,598 | (2,537) |
| Accounts payable and accrued liabilities | 568 | (479) |
| Total cash provided by operating activities before taxes | 34,009 | 6,087 |
| Taxes paid | (3,198) | (1,271) |
| Total cash provided by operating activities | 30,811 | 4,816 |
| Cash flows from investing activities | ||
| Distributions from SLM California (Note 9) | 3,126 | 3,922 |
| Acquisition of royalty interests (Note 8) | (68,697) | (3,241) |
| Net cash received from the purchase of EMX Royalty Corp. (Note 4) | 3,097 | 0 |
| Proceeds from royalty buy-back (Note 8) | 1,913 | 0 |
| Proceeds from the sale of investments | 5,231 | 3,500 |
| Purchase of Tether Gold cryptocurrency tokens (Note 7) | (1,000) | 0 |
| Other movements (Note 22) | 5 | 333 |
| Total cash provided by (used in) investing activities | (56,325) | 4,514 |
| Cash flows from financing activities | ||
| Interest received | 507 | 198 |
| Interest paid | (408) | (1,979) |
| Loan repayments (Note 12) | (28,000) | (27,000) |
| Proceeds from private placement (Note 13 and 18) | 100,000 | 12,763 |
| Share issue costs | (227) | (91) |
| Proceeds from exercise of options and settlement of PSUs (Note 14) | 2,674 | 0 |
| Finance lease payments | 10 | 0 |
| Total cash provided by (used in) financing activities | 74,556 | (16,109) |
| Effect of exchange rate changes on cash and cash equivalents | (353) | (54) |
| Change in cash and cash equivalents | 48,689 | (6,833) |
| Cash and cash equivalents, beginning | 4,454 | 11,287 |
| Cash and cash equivalents, ending | $ 53,143 | $ 4,454 |
Consolidated Statements of Financial Position - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents (Note 5) | $ 53,143 | $ 4,454 |
| Trade receivables and other assets (Note 6) | 25,154 | 16,632 |
| Investments (Note 7) | 16,115 | 0 |
| Total current assets | 94,412 | 21,086 |
| Trade receivables and other assets (Note 6) | 2,043 | 4,031 |
| Investments (Note 7) | 0 | 2,243 |
| Investment in associates (Note 9) | 1,000 | 41,087 |
| Royalty interests | 808,720 | 135,720 |
| Property and equipment | 1,141 | 0 |
| Total non-current assets | 812,904 | 183,081 |
| Total Assets | 907,316 | 204,167 |
| Current liabilities [abstract] | ||
| Accounts payable and accrued liabilities (Note 10) | 6,664 | 3,349 |
| Warrant liability (Note 11) | 7,684 | 0 |
| Total current liabilities | 14,348 | 3,349 |
| Non-current liabilities [abstract] | ||
| Borrowings (Note 12) | 0 | 2,687 |
| Deferred income tax liability (Note 13) | 112,553 | 1,747 |
| Total non-current liabilities | 112,553 | 4,434 |
| Total Liabilities | 126,901 | 7,783 |
| Shareholders' Equity | ||
| Share Capital (Note 14) | 787,682 | 217,449 |
| Contributed Surplus | 17,481 | 6,535 |
| Accumulated other comprehensive income ("AOCI") | 1,503 | 1,416 |
| Deficit | (26,251) | (29,016) |
| Total Shareholders' Equity | 780,415 | 196,384 |
| Total Liabilities and Shareholders' Equity | $ 907,316 | $ 204,167 |