Sources: Company Website. Company Presentation.
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As mentioned above, EMX has several potential catalysts to chew on right now. Check them out:
No. 1 EMX Potential Catalyst - Analyst Target Paints Hefty 150+% Potential Upside On EMX
Last month, H.C. Wainwright analyst, Heiko Ihle, reiterated their $4.75 target on EMX.
That target suggests EMX may have 150+% potential upside from its opening valuation Monday.
Here are some key report details:
We are reiterating our Buy rating on EMX and our PT of $4.75. Our valuation for the company remains based on DCFs for EMX’s most important royalty interests in Gediktepe, Caserones, Leeville, Timok, and Balya. On an individual asset level, we still utilize various market-based discount rates for each site to account for their individual geopolitical risk factors. We currently assign unchanged fixed values of $80.0Mn for EMX’s portfolio of development-stage assets, a $25.0Mn valuation for its exploration-stage assets, and $10.0Mn for its various strategic in-vest-ments. Our current combined valuation for EMX’s cashflowing royalties, as well as its other assets, yields a total current value of $371.8Mn, or $2.96 per share. These figures account for EMX's present cash balance, tradable securities, and debt. We then apply our 1.6x NAV multiple on the firm, which remains inline when measured relative to market premiums placed on other royalty companies of EMX’s size. This ultimately yields our total valuation of $594.9Mn and our rounded price target of $4.75 per share.
Near-term catalysts. Looking ahead, EMX remains poised to continue benefiting from its basket of cash-flowing royalties while also remaining exposed to future pre-production payments and equity interests from asset sales. In our view, management of the firm also intends to focus on strengthening its balance sheet through the incremental retirement of its long-term debt. Finally, we reiterate that EMX continues to target additional growth through its royalty generation model, which should further complement EMX's strong pipeline of cash-flowing royalties.
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No. 2 EMX Potential Catalyst - A Huge Royalty Payment Comes Rolling In The Door
EMX Receives Initial Royalty Payment from Zijin
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce the receipt of $6.67+Mn in royalty proceeds from its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd ("Zijin"). EMX and Zijin recently agreed to an amended and restated royalty agreement that covers Zijin's Brestovac exploration permit area (including the active Cukaru Peki copper and gold mine), as well as portions of Zijin's Jasikovo-Durlan Potok exploration license (see EMX News Release dated September 5, 2023). EMX now owns a 0.3625% Net Smelter Return ("NSR") royalty that is uncapped and cannot be repurchased or reduced.
The approximately $6.68Mn royalty payment consisted of $1.59Mn from July-December, 2021, payments of $3.20Mn from the calendar year 2022, and $1.89Mn for the period of January-June, 2023.
Various news media reports recently highlighted Zijin's planned expansion of the Cukaru Peki operation. As reported by Bloomberg News on August 28, 2023, Branko Rakocevic, Assistant General Manager at Serbia Zijin Mining d.o.o. Bor, commented: "These are vast reserves, which require additional infrastructure, additional in-vest-ment of around $3.5 to $3.8Bn." This would represent a substantial further in-vest-ment in the Cukaru Peki project. Zijin is currently producing copper and gold from the Upper Zone deposit at Cukaru Peki, while concurrently developing the Lower Zone porphyry copper and gold deposit.
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Read the full article here.
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No. 3 EMX Potential Catalyst - Big Move: EMX Receives 2.5% NSR With Execution of New Option Agreement For Copperhole Creek
EMX Options Its Copperhole Creek Polymetallic Project in Australia to Lumira Energy Ltd.
Vancouver, British Columbia--(Newsfile Corp. - September 13, 2023) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce the execution of an option agreement for EMX's Copperhole Creek polymetallic project in Queensland, Australia (the "Project") to Lumira Energy Ltd. ("Lumira"), a private Australian Company. The agreement provides EMX with a 2.5% Net Smelter Return ("NSR") royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with this transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) in mid-year 2024.
The polymetallic Copperhole Creek Project is located 20 km east of the Georgetown-Forsayth Metallogenic District in Queensland, with mineralization developed in the same host rocks as the Georgetown-Forsayth District. There are two main styles of mineralization recognized on the Copperhole Creek property, (1) tin-copper-molybdenum mineralization developed in zones of greisen-style alteration and (2) shear zone hosted copper-silver mineralized veins and breccias. Numerous occurrences, historical mines and prospects with either or both styles of mineralization occur on EMX's land position. Although the nearby Georgetown-Forsayth Metallogenic District is well known for its historical gold production, only a few of the occurrences at Copperhole Creek have been assayed for gold, adding further upside to the Project.
This transaction will provide Lumira with a flagship asset in Australia in advance of its proposed ASX listing. EMX and Lumira will apply modern exploration methods and deposit models to identify and prioritize additional targets within the project area.
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Read the full article here.
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No. 4 EMX Potential Catalyst - EMX Retains 3% NSR Royalty On 2 Battery Metal Projects Sold To Kendrick
EMX Royalty Sells Two Additional Battery Metal Projects to Kendrick Resources PLC
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2023) - EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the "Company" or "EMX") is pleased to announce the execution of an agreement (the "Agreement") to add its Mjövattnet and Njuggträskliden nickel-copper-PGE-cobalt projects in Sweden (the "Swedish Projects") to an existing arrangement with Kendrick Resources PLC ("Kendrick"), a current EMX partner. Mjövattnet and Njuggträskliden battery metals projects will follow the same schedule of work commitments, advance royalty payments and milestone payments as the Espedalen battery metals project in Norway, another EMX royalty property being advanced by Kendrick. EMX will retain a 3% NSR royalty on the Swedish Projects along with other considerations summarized below. Kendrick is a Scandinavian focused energy metal exploration and development company currently listed on the London St-ock Exchange ("LSE") under the trading symbol "KEN"...
Each of the Swedish Projects contain nickel-copper-cobalt-PGE (Ni-Cu-Co-PGE) sulfide deposits associated with mafic-ultramafic intrusive complexes in the Skellefteå region of north-central Sweden, and both contain historical mineral resources. The Skellefteå area is known for its mining culture and heritage and is home to multiple active mines, processing facilities and Boliden AB's Rönnskär smelting complex.
The addition of the Swedish Projects follows Kendrick's recent announcement of compelling drill results from the Espedalen battery metals project in Norway, a key EMX royalty property...
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Read the full article here.
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No. 5 EMX Potential Catalyst - New Agreement With Franco-Nevada Helps EMX Gear Up For Royalty Generation
EMX Announces an Acquisition Agreement for New Royalties with Franco-Nevada
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2023) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce the execution of a binding term sheet with Franco-Nevada Corporation ("Franco-Nevada") for the joint acquisition of newly created precious metals and copper royalties sourced by EMX (the "Agreement")...
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Read the full article here.
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(NYSE American: EMX) Recap - The Top Potential Breakout Catalysts To Focus On This Minute
No. 1 - Analyst Target Paints Hefty 150+% Potential Upside On EMX
No. 2 - A Huge Royalty Payment Comes Rolling In The Door
No. 3 - Big Move: EMX Receives 2.5% NSR With Execution of New Option Agreement For Copperhole Creek
No. 4 - EMX Retains 3% NSR Royalty On 2 Battery Metal Projects Sold To Kendrick
No. 5 - New Agreement With Franco-Nevada Helps EMX Gear Up For Royalty Generation
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Coverage is officially initiated on EMX. When time allows, do this:
