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Segment disclosure

6 Months Ended

Jun. 30, 2024

16. Segment disclosure

The Company’s business is organized into one single operating segment, consisting of acquiring and managing precious metals and other high-quality streams and related interests and royalties. The Company’s chief operating decision-maker, the CEO, makes capital allocation decisions, reviews operating results and assesses performance.

Geographic revenues from the sale of metals acquired from streams and related interests and royalties is determined by the location of the mining operations giving rise to the stream and related interest or royalty.

For the three and six months ended June 30, 2024, and 2023, stream and related interest and royalty revenues were mainly earned from the following jurisdictions:

Revenue by geography


	For the three months ended June 30					For the six months ended June 30
		2024		2023			2024		2023
Australia¹		$	23,153	$	16,821	$	43,024	$	26,902
Peru²			20,223		8,165		34,066		22,290
United States³			4,774		6,462		15,365		12,423
South Africa⁴			3,283		3,163		6,464		6,037
Mongolia⁴			2,931		5,617		5,780		11,727
Mexico⁵			2,680		2,975		5,423		5,903
Colombia⁴			3,403		2,825		5,418		5,617
Canada⁶			2,206		4,118		3,961		7,840
Other⁷			928		2,445		1,608		4,121
Total revenues		$	63,581	$	52,591	$	121,109	$	102,860

Includes revenue from streams for the three and six months ended June 30, 2024, of $15.5 million and $28.5 million, respectively (2023: $9.0 million and $14.2 million), and revenue from royalties for the three and six months ended June 30, 2024, of $7.7 million and $14.5 million, respectively (2023: $7.8 million and $12.7 million).

Includes revenue from streams for the three and six months ended June 30, 2024, of $20.1 million and $33.7 million, respectively (2023: $8.0 million and $22.0 million), and revenue from royalties for the three and six months ended June 30, 2024, of $0.2 million and $0.4 million, respectively (2023: $0.2 million and $0.3 million).

Includes revenue from streams and related interests for the three and six months ended June 30, 2024, of $2.9 million and $6.6 million, respectively (2023: $5.6 million and $11.0 million), revenue from royalties for the three and six months ended June 30, 2024, of $1.9 million and $7.5 million, respectively (2023: $0.9 million and $1.4 million), and other revenue for the three and six months ended June 30, 2024, of $nil and $1.3 million, respectively (2023: $nil).

4.	All revenue from streams.

Includes revenue from streams for the three and six months ended June 30, 2024, of $1.0 million and $2.1 million, respectively (2023: $1.4 million and $2.7 million), and revenue from royalties for the three and six months ended June 30, 2024, of $1.7 million and $3.3 million, respectively (2023: $1.6 million and $3.2 million).

6.	Includes revenue from streams for the three and six months ended June 30, 2024, of $nil (2023: $2.0 million and $4.1 million), and revenue from royalties for the three and six months ended June 30, 2024, of $2.2 million and $4.0 million, respectively (2023: $2.1 million and $3.8 million).

7.	Includes royalty revenue from Chile, Cote d’Ivoire and Honduras.