EMX Royalty (EMX) Newsfile·2024-11-07 22:30Core Insights - EMX Royalty Corporation reported strong financial results for Q3 2024, driven by robust royalty production and high metal prices, particularly from Caserones, Gediktepe, and Leeville [3][5][13] - The company expects to exceed its 2024 adjusted royalty revenue guidance of 27.5 million [7][9] Financial Performance - For Q3 2024, adjusted revenue and other income reached 8.82 million, up 45% year-over-year [4][5][13] - Net income for Q3 2024 was 5.06 million in the same quarter of the previous year [4] - Cash flows from operating activities were negative at 7.12 million in Q3 2023 [4][8] Royalty Production - The company sold 3,560 gold equivalent ounces (GEOs) in Q3 2024, a decrease from 6,608 GEOs in Q3 2023 [4][14] - Significant increases in royalty revenue were noted from Gediktepe (72% increase) and Leeville (44% increase) compared to Q3 2023 [13] Development and Investments - EMX continues to invest in generating and acquiring royalties globally, with notable investments from Zijin Mining Group at Timok and increased exploration activities [6][10] - The company is optimistic about growth prospects from major deposits at Caserones and Timok, with ongoing exploration and development efforts [10][11] Corporate Updates - Stefan Wenger was appointed as Chief Financial Officer effective October 1, 2024, bringing prior experience from Royal Gold, Inc. [17] - In August 2024, EMX entered a $35 million credit agreement with Franco-Nevada Corporation to refinance existing debt and support working capital [18] - The company repurchased 692,189 common shares during Q3 2024, reflecting a commitment to returning value to shareholders [19]